FMDE vs SCHD
Fidelity Enhanced Mid Cap Core ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. FMDE offers more diversification with 430 holdings.
Side-by-Side Comparison
| Metric | FMDE | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.23% | 0.06% | |
| AUM | $7.8B | $108.7B | |
| Dividend Yield | 1.07% | 3.13% | |
| Holdings | 430 | 104 | |
| YTD Return | +16.56% | +27.67% | |
| 1Y Return | +19.28% | +29.56% | |
| 3Y Return (annualized) | - | +16.53% | |
| 5Y Return (annualized) | - | +9.95% | |
| Volatility (annualized) | 13.3% | 13.6% | |
| Max Drawdown | -21.1% | -33.4% | |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Nov 20, 2023 | Oct 20, 2011 |
FMDE vs SCHD Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is a ETF from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year FMDE returned +19.28% while SCHD returned +29.56%. Year to date, FMDE is up 16.56% versus a gain of 27.67% for SCHD.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 13.3% 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 -33.4% for SCHD. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMDE charges 0.23% per year while SCHD charges 0.06%. On a $10,000 position that is $23 vs $6 annually, a gap of $17 per year that compounds over a long holding period. On income, FMDE currently yields 1.07% against 3.13% for SCHD.
Holdings Overlap
FMDE and SCHD share 21 holdings out of 497 unique holdings combined, representing a 3.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMDE or SCHD?
FMDE has an expense ratio of 0.23% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, FMDE or SCHD?
Over the past year FMDE returned +19.28% vs +29.56% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (3 years), FMDE annualized +22.31% vs +11.55% for SCHD. Past performance does not guarantee future results.
Which is riskier, FMDE or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 13.3% for FMDE. Worst drawdown: FMDE -21.1% vs SCHD -33.4%.
Should I hold both FMDE and SCHD?
FMDE and SCHD have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMDE and SCHD?
FMDE and SCHD share 21 common holdings with a 3.5% weight overlap. Combined, they hold 497 unique securities.
Which pays a higher dividend, FMDE or SCHD?
FMDE yields 1.07% while SCHD yields 3.13%, so SCHD currently pays the higher dividend yield.
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