XLVI vs. FMED

Last updated Jun 4, 2026

XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) and FMED (Fidelity Disruptive Medicine ETF) are both exchange-traded funds - XLVI is a Derivative Income fund actively managed by State Street, while FMED is a Health & Biotech Equities fund actively managed by Fidelity. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. XLVI charges 0.35%/yr vs 0.50%/yr for FMED.

Performance

XLVI vs. FMED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and Fidelity Disruptive Medicine ETF (FMED). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLVI achieves a -0.67% return, which is significantly higher than FMED's -9.33% return.

XLVI

• 1D: 0.67%
• 1M: 2.30%
• YTD: -0.67%
• 6M: 0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMED

• 1D: -0.04%
• 1M: -1.76%
• YTD: -9.33%
• 6M: -13.74%
• 1Y: 3.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XLVI vs. FMED - Yearly Performance Comparison

	2026 (YTD)	2025
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%
FMED Fidelity Disruptive Medicine ETF	-9.33%	12.86%

Correlation

The correlation between XLVI and FMED is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.61

XLVI vs. FMED - Sectors Allocation Comparison

Sectors	XLVI	FMED
Financial Services	100.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	98.0%
Industrials	-	-
Real Estate	-	-
Technology	-	1.0%
Utilities	-	-

Return for Risk

XLVI vs. FMED — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMED

FMED Risk / Return Rank: 11
FMED Sharpe Ratio Rank: 11
FMED Sortino Ratio Rank: 11
FMED Omega Ratio Rank: 11
FMED Calmar Ratio Rank: 11
FMED Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XLVI vs. FMED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and Fidelity Disruptive Medicine ETF (FMED). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XLVI	FMED	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	-0.05	+1.37

Drawdowns

XLVI vs. FMED - Drawdown Comparison

The maximum XLVI drawdown since its inception was -8.14%, smaller than the maximum FMED drawdown of -21.84%. Use the drawdown chart below to compare losses from any high point for XLVI and FMED.

Drawdown Indicators

	XLVI	FMED	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-21.84%	+13.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.33%	—
Current Drawdown Current decline from peak	-4.02%	-14.95%	+10.93%
Average Drawdown Average peak-to-trough decline	-1.95%	-7.04%	+5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.96%	—

Volatility

Volatility by Period

	XLVI	FMED	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	18.58%	-7.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.94%	18.38%	-7.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.94%	18.38%	-7.44%

XLVI vs. FMED - Expense Ratio Comparison

XLVI has a 0.35% expense ratio, which is lower than FMED's 0.50% expense ratio.

Dividends

XLVI vs. FMED - Dividend Comparison

XLVI's dividend yield for the trailing twelve months is around 11.53%, while FMED has not paid dividends to shareholders.

Position	TTM	2025	2024
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%	0.00%

Frequently Asked Questions

Can I hold both XLVI and FMED in my portfolio?

XLVI and FMED have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLVI or FMED?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLVI or FMED?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.50% for FMED.

Which ETF pays a higher dividend yield, XLVI or FMED?

XLVI has the higher dividend yield at 11.53%, compared with 0.00% for FMED.

What is the main difference between XLVI and FMED?

XLVI is categorized as Derivative Income, while FMED is Health & Biotech Equities. They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.35% for XLVI and 0.50% for FMED.