FMDE vs IVV
Fidelity Enhanced Mid Cap Core ETF vs iShares Core S&P 500 ETF
Which is better, FMDE or IVV?
Mid Cap Blend against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y and the full window. FMDE is less concentrated, with 9.1% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FMDE | IVV |
|---|---|---|
| Expense Ratio | 0.23% | 0.03%Best |
| AUM | $7.8B | $876.4B |
| Dividend Yield | 1.04% | 1.06% |
| Holdings | 430 | 508 |
| YTD Return | +12.17%Best | +11.03% |
| 1Y Return | +14.50% | +15.62%Best |
| 3Y Return (annualized) | - | +20.81% |
| 5Y Return (annualized) | - | +12.61% |
| Volatility (annualized) | 13.3% | 11.9%Best |
| Max Drawdown | -21.1% | -18.8%Best |
| $10,000 over 2.8 years | $16,735 | $17,132Best |
| Top 10 Weight | 9.1%Best | 37.8% |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | May 15, 2000 |
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Nov 20, 2023 to Sep 16, 2026 (2.8 years).
FMDE vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.8 years both funds cover.
FMDE vs IVV Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is an ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FMDE returned +14.50% while IVV returned +15.62%. Year to date, FMDE is up 12.17% versus a gain of 11.03% for IVV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMDE has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 11.9% for IVV. 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 -18.8% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.82. 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 1.04% against 1.06% for IVV.
Holdings Overlap
53.0% of FMDE's money is in holdings IVV also owns. 13.0% of IVV's money is in holdings FMDE also owns.
The two portfolios partly overlap.
210 positions in common, counted across the 480 positions we hold weights for in FMDE and 490 in IVV, against full books of 430 and 508.
What only one of them owns
Our book lists 273 positions for IVV that do not appear in our book for FMDE (85.7% of the fund), and 218 for FMDE that do not appear in IVV (41.5%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FMDE | Weight in IVV | Difference |
|---|---|---|---|
| MPCMarathon Petroleum Corp | 1.07% | 0.16% | 0.91% |
| ALLAllstate Corp. | 0.98% | 0.10% | 0.88% |
| STTState Street Corp. | 0.91% | 0.08% | 0.83% |
| KMIKinder Morgan Inc./de | 0.86% | 0.10% | 0.76% |
| FFord Motor Credit | 0.87% | 0.08% | 0.79% |
| KEYSKeysight Technologies Inc. | 0.87% | 0.08% | 0.79% |
| AMEAmetek Inc | 0.85% | 0.08% | 0.77% |
| NUENucor Corp. | 0.83% | 0.09% | 0.74% |
| LHXL3Harris Technologies Inc. | 0.83% | 0.07% | 0.76% |
| VTRVentas Inc . | 0.81% | 0.07% | 0.74% |
53.0% of FMDE is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $20 a year on a $10,000 investment.
Which performed better, FMDE or IVV?
Over the past year FMDE returned +14.50% vs +15.62% for IVV, so IVV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMDE or IVV?
FMDE has been the more volatile fund at 13.3% annualized versus 11.9% for IVV. Worst drawdown: FMDE -21.1% vs IVV -18.8%.
Should I hold both FMDE and IVV?
FMDE and IVV have a monthly-return correlation of 0.82, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FMDE and IVV?
53.0% of FMDE's money is in holdings IVV also owns. 13.0% of IVV's is in holdings FMDE also owns. They hold 210 positions in common, counted across the 480 positions we hold weights for in FMDE and 490 in IVV.
Which pays a higher dividend, FMDE or IVV?
FMDE yields 1.04% while IVV yields 1.06%, so IVV currently pays the higher dividend yield.
Is IVV better than FMDE?
IVV has a lower expense ratio. IVV led over 1Y and the full window. FMDE is less concentrated, with 9.1% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.