FDMO vs SPY
FDMO vs SPY
Fidelity Momentum Factor ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FDMO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $957M | $789.1B | |
| Dividend Yield | 0.58% | 1.01% | |
| Holdings | 130 | 505 | |
| YTD Return | +12.81% | +13.10% | |
| 1Y Return | +22.36% | +22.80% | |
| 3Y Return (annualized) | +25.81% | +20.98% | |
| 5Y Return (annualized) | +14.42% | +13.20% | |
| Volatility (annualized) | 16.5% | 15.3% | |
| Max Drawdown | -34.2% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 12, 2016 | Jan 22, 1993 |
FDMO vs SPY Performance
Fidelity Momentum Factor ETF (FDMO) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FDMO returned +22.36% while SPY returned +22.80%. Year to date, FDMO is up 12.81% versus a gain of 13.10% for SPY.
Over three years, FDMO compounded at +25.81% per year against +20.98% for SPY; over five years the annualized figures are +14.42% and +13.20% respectively. Across the full 10-year window we track, FDMO has the edge at +14.91% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FDMO has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.2% for FDMO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FDMO charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, FDMO currently yields 0.58% against 1.01% for SPY.
Holdings Overlap
FDMO and SPY share 81 holdings out of 547 unique holdings combined, representing a 54.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in FDMO | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.33% | 7.31% | 0.02% |
| AAPL | 6.06% | 7.09% | 1.03% |
| GOOGL | 5.95% | 3.32% | 2.63% |
| MSFT | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
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Frequently Asked Questions
Which is cheaper, FDMO or SPY?
FDMO has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, FDMO or SPY?
Over the past year FDMO returned +22.36% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), FDMO annualized +14.91% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, FDMO or SPY?
FDMO has been the more volatile fund at 16.5% annualized versus 15.3% for SPY. Worst drawdown: FDMO -34.2% vs SPY -56.5%.
Should I hold both FDMO and SPY?
FDMO and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FDMO and SPY?
FDMO and SPY share 81 common holdings with a 54.2% weight overlap. Combined, they hold 547 unique securities.
Which pays a higher dividend, FDMO or SPY?
FDMO yields 0.58% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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