FMDE vs IVV
FMDE vs IVV
Fidelity Enhanced Mid Cap Core ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FMDE | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.23% | 0.03% | |
| AUM | $7.4B | $865.2B | |
| Dividend Yield | 1.08% | 1.09% | |
| Holdings | 342 | 508 | |
| YTD Return | +14.64% | +13.13% | |
| 1Y Return | +21.43% | +22.90% | |
| 3Y Return (annualized) | - | +21.08% | |
| 5Y Return (annualized) | - | +13.27% | |
| Volatility (annualized) | 13.2% | 15.1% | |
| Max Drawdown | -21.1% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Nov 20, 2023 | May 15, 2000 |
FMDE vs IVV Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FMDE returned +21.43% while IVV returned +22.90%. Year to date, FMDE is up 14.64% versus a gain of 13.13% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.2% for FMDE. 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 -21.1% for FMDE and -56.5% for IVV. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMDE charges 0.23% per year while IVV charges 0.03%. On a $10,000 position that is $23 vs $3 annually, a gap of $20 per year that compounds over a long holding period. On income, FMDE currently yields 1.08% against 1.09% for IVV.
Holdings Overlap
FMDE and IVV share 182 holdings out of 741 unique holdings combined, representing a 8.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FMDE | Weight in IVV | Difference |
|---|---|---|---|
| TER | 1.14% | 0.09% | 1.05% |
| BK | 0.97% | 0.17% | 0.80% |
| HWM | 0.96% | 0.17% | 0.79% |
| KEYS | Pro | Pro | Pro |
| FIX | Pro | Pro | Pro |
| HUM | Pro | Pro | Pro |
| LHX | Pro | Pro | Pro |
| MPC | Pro | Pro | Pro |
| WDC | Pro | Pro | Pro |
| KMI | Pro | Pro | Pro |
See all 10 holdings FMDE shares with IVV Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, FMDE or IVV?
FMDE has an expense ratio of 0.23% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, FMDE or IVV?
Over the past year FMDE returned +21.43% vs +22.90% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (3 years), FMDE annualized +22.08% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, FMDE or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 13.2% for FMDE. Worst drawdown: FMDE -21.1% vs IVV -56.5%.
Should I hold both FMDE and IVV?
FMDE and IVV have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMDE and IVV?
FMDE and IVV share 182 common holdings with a 8.8% weight overlap. Combined, they hold 741 unique securities.
Which pays a higher dividend, FMDE or IVV?
FMDE yields 1.08% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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