FMDE vs VTI
Fidelity Enhanced Mid Cap Core ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, FMDE or VTI?
Mid Cap Blend against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y and the full window.
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 | VTI |
|---|---|---|
| Expense Ratio | 0.23% | 0.03%Best |
| AUM | $7.8B | $666.9B |
| Dividend Yield | 1.04% | 1.03% |
| Holdings | 430 | 3,543 |
| YTD Return | +13.79%Best | +12.57% |
| 1Y Return | +15.10% | +17.22%Best |
| 3Y Return (annualized) | - | +20.87% |
| 5Y Return (annualized) | - | +11.86% |
| Volatility (annualized) | 13.2% | 12.1%Best |
| Max Drawdown | -21.1% | -19.3%Best |
| $10,000 over 2.8 years | $17,017 | $17,319Best |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
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 11, 2026 (2.8 years).
FMDE vs VTI 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 VTI Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is an ETF from Fidelity Investments (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year FMDE returned +15.10% while VTI returned +17.22%. Year to date, FMDE is up 13.79% versus a gain of 12.57% for VTI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMDE has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 12.1% for VTI. 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 -19.3% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMDE charges 0.23% per year while VTI 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 1.03% for VTI.
Holdings Overlap
At least 86.0% of FMDE's money is in holdings VTI also owns.
Stated as a floor: for VTI, our book for it covers 90.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of FMDE is already inside VTI. Owning both mostly buys the same companies twice.
The two holdings books were reported 59 days apart, FMDE as of Aug 28, 2026 and VTI as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
394 positions in common, counted across the 480 positions we hold weights for in FMDE and 2,787 in VTI, against full books of 430 and 3,543.
Top Shared Holdings
| Stock | Weight in FMDE | Weight in VTI | Difference |
|---|---|---|---|
| MPCMarathon Petroleum Corp. | 1.07% | 0.10% | 0.97% |
| ALLAllstate Corp. | 0.98% | 0.08% | 0.90% |
| STTState Street Corp. | 0.91% | 0.06% | 0.85% |
| KEYSKeysight Technologies Inc. | 0.87% | 0.08% | 0.79% |
| FFord Motor Co. | 0.87% | 0.07% | 0.80% |
| KMIKinder Morgan Inc./de | 0.86% | 0.08% | 0.78% |
| AMEAmetek Inc. | 0.85% | 0.08% | 0.77% |
| LHXL3Harris Technologies Inc. | 0.83% | 0.07% | 0.76% |
| NUENucor Corp. | 0.83% | 0.07% | 0.76% |
| VTRVentas, Inc. | 0.81% | 0.06% | 0.75% |
86.0% of FMDE is already inside VTI.
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 VTI?
FMDE has an expense ratio of 0.23% while VTI charges 0.03%. VTI is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, FMDE or VTI?
Over the past year FMDE returned +15.10% vs +17.22% for VTI, so VTI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMDE or VTI?
FMDE has been the more volatile fund at 13.2% annualized versus 12.1% for VTI. Worst drawdown: FMDE -21.1% vs VTI -19.3%.
Should I hold both FMDE and VTI?
FMDE and VTI have a monthly-return correlation of 0.86, 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 VTI?
At least 86.0% of FMDE's money is in holdings VTI also owns. Our book for VTI is partial, so the real figure is this or higher. They hold 394 positions in common, counted across the 480 positions we hold weights for in FMDE and 2,787 in VTI.
Which pays a higher dividend, FMDE or VTI?
FMDE yields 1.04% while VTI yields 1.03%, so FMDE currently pays the higher dividend yield.
Is VTI better than FMDE?
VTI has a lower expense ratio. VTI led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.