FMDE vs VYM
Fidelity Enhanced Mid Cap Core ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 616 holdings.
Side-by-Side Comparison
| Metric | FMDE | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.23% | 0.04% | |
| AUM | $7.8B | $81.6B | |
| Dividend Yield | 1.07% | 2.24% | |
| Holdings | 430 | 616 | |
| YTD Return | +16.07% | +15.42% | |
| 1Y Return | +19.91% | +22.36% | |
| 3Y Return (annualized) | - | +19.06% | |
| 5Y Return (annualized) | - | +12.20% | |
| Volatility (annualized) | 13.3% | 14.6% | |
| Max Drawdown | -21.1% | -58.8% | |
| Fund Family | Fidelity Investments (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 20, 2023 | Nov 10, 2006 |
FMDE vs VYM Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is a ETF from Fidelity Investments (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year FMDE returned +19.91% while VYM returned +22.36%. Year to date, FMDE is up 16.07% versus a gain of 15.42% for VYM.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% 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 -58.8% for VYM. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMDE charges 0.23% per year while VYM charges 0.04%. On a $10,000 position that is $23 vs $4 annually, a gap of $19 per year that compounds over a long holding period. On income, FMDE currently yields 1.07% against 2.24% for VYM.
Holdings Overlap
FMDE and VYM share 147 holdings out of 874 unique holdings combined, representing a 10.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMDE or VYM?
FMDE has an expense ratio of 0.23% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $19 per year of difference.
Which performed better, FMDE or VYM?
Over the past year FMDE returned +19.91% vs +22.36% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (3 years), FMDE annualized +22.19% vs +7.04% for VYM. Past performance does not guarantee future results.
Which is riskier, FMDE or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 13.3% for FMDE. Worst drawdown: FMDE -21.1% vs VYM -58.8%.
Should I hold both FMDE and VYM?
FMDE and VYM have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMDE and VYM?
FMDE and VYM share 147 common holdings with a 10.7% weight overlap. Combined, they hold 874 unique securities.
Which pays a higher dividend, FMDE or VYM?
FMDE yields 1.07% while VYM yields 2.24%, so VYM currently pays the higher dividend yield.
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