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XMC.TO vs. FMDE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XMC.TO vs. FMDE

Last updated Jul 21, 2026
Documentation

XMC.TO (iShares S&P U.S. Mid-Cap Index ETF) and FMDE (Fidelity Enhanced Mid Cap ETF) are both Mid Cap Blend Equities funds. XMC.TO is passively managed, while FMDE is actively managed. Over the past year, XMC.TO returned 22.52% vs 19.41% for FMDE. A 0.80 correlation means they provide meaningful diversification when combined. XMC.TO charges 0.16%/yr vs 0.23%/yr for FMDE.

Performance

XMC.TO vs. FMDE - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Fidelity Enhanced Mid Cap ETF (FMDE). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XMC.TO is traded in CAD, while FMDE is traded in USD. To make them comparable, the FMDE values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMC.TO achieves a 16.93% return, which is significantly higher than FMDE's 13.95% return.

XMC.TO

1D
-0.22%
1M
-1.86%
6M
8.75%
YTD
16.93%
1Y
22.52%
3Y*
15.16%
5Y*
10.73%
10Y*
11.27%
ALL TIME*
10.78%

FMDE

1D
-0.50%
1M
-0.18%
6M
8.80%
YTD
13.95%
1Y
19.41%
3Y*
—
5Y*
—
10Y*
—
ALL TIME*
21.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XMC.TO vs. FMDE - Yearly Performance Comparison

2026 (YTD)202520242023
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		16.93%2.37%22.99%6.23%
FMDE
Fidelity Enhanced Mid Cap ETF		13.95%7.07%32.07%5.19%

Correlation

The correlation between XMC.TO and FMDE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2023

0.80

The correlation between XMC.TO and FMDE has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

XMC.TO vs. FMDE - Sectors Allocation Comparison

Sectors
XMC.TO
FMDE

Industrials

25.2%
18.0%

Technology

16.7%
22.7%

Financial Services

14.1%
12.3%

Consumer Cyclical

10.6%
10.8%

Healthcare

9.0%
10.2%

Real Estate

7.4%
5.6%

Basic Materials

4.9%
4.3%

Energy

4.6%
5.6%

Consumer Defensive

3.2%
2.1%

Utilities

2.9%
4.9%

Communication Services

1.5%
2.4%

Industrials

XMC.TO
25.2%
FMDE
18.0%

Technology

XMC.TO
16.7%
FMDE
22.7%

Financial Services

XMC.TO
14.1%
FMDE
12.3%

Consumer Cyclical

XMC.TO
10.6%
FMDE
10.8%

Healthcare

XMC.TO
9.0%
FMDE
10.2%

Real Estate

XMC.TO
7.4%
FMDE
5.6%

Basic Materials

XMC.TO
4.9%
FMDE
4.3%

Energy

XMC.TO
4.6%
FMDE
5.6%

Consumer Defensive

XMC.TO
3.2%
FMDE
2.1%

Utilities

XMC.TO
2.9%
FMDE
4.9%

Communication Services

XMC.TO
1.5%
FMDE
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares S&P U.S. Mid-Cap Index ETF

Fidelity Enhanced Mid Cap ETF

Often compared with XMC.TO:
XMC.TO vs. XSMC.TOXMC.TO vs. ZEB.TOXMC.TO vs. XSP.TOXMC.TO vs. XSMOXMC.TO vs. IMCGXMC.TO vs. VOEXMC.TO vs. XEU.TO
Often compared with FMDE:
FMDE vs. IJHFMDE vs. VOOFMDE vs. FSMVXFMDE vs. CZAFMDE vs. VLIFXFMDE vs. AVUVFMDE vs. IUS

Return for Risk

XMC.TO vs. FMDE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMC.TO
XMC.TO Risk / Return Rank: 6464
Overall Rank
XMC.TO Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
XMC.TO Sortino Ratio Rank: 6161
Sortino Ratio Rank
XMC.TO Omega Ratio Rank: 5555
Omega Ratio Rank
XMC.TO Calmar Ratio Rank: 7373
Calmar Ratio Rank
XMC.TO Martin Ratio Rank: 7474
Martin Ratio Rank
FMDE
FMDE Risk / Return Rank: 5151
Overall Rank
FMDE Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
FMDE Sortino Ratio Rank: 4848
Sortino Ratio Rank
FMDE Omega Ratio Rank: 4444
Omega Ratio Rank
FMDE Calmar Ratio Rank: 5454
Calmar Ratio Rank
FMDE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

XMC.TO vs. FMDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) and Fidelity Enhanced Mid Cap ETF (FMDE). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

XMC.TOFMDEDifference
Sharpe ratioReturn per unit of total volatility
1.44
1.35

+0.09

Sortino ratioReturn per unit of downside risk
2.17
2.02

+0.15

Omega ratioGain probability vs. loss probability

1.26

1.24

+0.02

Calmar ratioReturn relative to maximum drawdown

2.73

2.74

-0.01

Martin ratioReturn relative to average drawdown

9.83

9.18

+0.65

XMC.TO vs. FMDE - Sharpe Ratio Comparison

The current XMC.TO Sharpe Ratio is 1.44, which is comparable to the FMDE Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of XMC.TO and FMDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XMC.TO vs. FMDE - Drawdown Comparison

The maximum XMC.TO drawdown since its inception was -36.38%, which is greater than FMDE's maximum drawdown of -21.35%. Use the drawdown chart below to compare losses from any high point for XMC.TO and FMDE.

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Drawdown Indicators

XMC.TOFMDEDifference

Max Drawdown

Largest peak-to-trough decline

-36.38%

-21.35%

-15.03%

Max Drawdown (1Y)

Largest decline over 1 year

-8.28%

-7.12%

-1.16%

Max Drawdown (3Y)

Largest decline over 3 years

-22.70%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-36.38%

—

—

Current Drawdown

Current decline from peak

-3.46%

-2.15%

-1.31%

Average Drawdown

Average peak-to-trough decline

-5.00%

-2.82%

-2.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

2.12%

+0.18%

Volatility

XMC.TO vs. FMDE - Volatility Comparison

The current volatility for iShares S&P U.S. Mid-Cap Index ETF (XMC.TO) is 3.16%, while Fidelity Enhanced Mid Cap ETF (FMDE) has a volatility of 3.36%. This indicates that XMC.TO experiences smaller price fluctuations and is considered to be less risky than FMDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMC.TOFMDEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.16%

3.36%

-0.20%

Volatility (6M)

Calculated over the trailing 6-month period

11.76%

11.09%

+0.67%

Volatility (1Y)

Calculated over the trailing 1-year period

15.78%

14.45%

+1.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.63%

16.64%

+0.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.58%

16.64%

+1.94%

XMC.TO vs. FMDE - Expense Ratio Comparison

XMC.TO has a 0.16% expense ratio, which is lower than FMDE's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XMC.TO vs. FMDE - Dividend Comparison

XMC.TO's dividend yield for the trailing twelve months is around 0.92%, less than FMDE's 1.09% yield.

PositionTTM20252024202320222021202020192018201720162015
FMDE
Fidelity Enhanced Mid Cap ETF		1.09%1.23%1.11%0.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XMC.TO
iShares S&P U.S. Mid-Cap Index ETF		0.92%1.10%0.94%1.17%1.27%0.99%1.07%1.43%1.57%0.98%1.06%0.54%

Frequently Asked Questions

XMC.TO and FMDE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XMC.TO is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XMC.TO is cheaper with a 0.16% expense ratio, compared with 0.23% for FMDE.

They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.16% for XMC.TO and 0.23% for FMDE.

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