FMED vs SPY
Fidelity Disruptive Medicine ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FMED delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FMED | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $46M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 74 | 505 | |
| YTD Return | +12.02% | +14.47% | |
| 1Y Return | +25.62% | +21.96% | |
| 3Y Return (annualized) | +8.16% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 18.6% | 15.3% | |
| Max Drawdown | -21.8% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 13, 2023 | Jan 22, 1993 |
FMED vs SPY Performance
Fidelity Disruptive Medicine ETF (FMED) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FMED returned +25.62% while SPY returned +21.96%. Year to date, FMED is up 12.02% versus a gain of 14.47% for SPY.
Over three years, FMED compounded at +8.16% per year against +21.70% for SPY. Across the full 3-year window we track, SPY has the edge at +8.87% annualized vs +5.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMED has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.3% for SPY. 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 -21.8% for FMED and -56.5% for SPY. 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 0.52. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FMED charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, FMED currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
FMED and SPY share 13 holdings out of 561 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMED or SPY?
FMED has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, FMED or SPY?
Over the past year FMED returned +25.62% vs +21.96% for SPY, so FMED leads on 1-year performance. Over the longest common window we track (3 years), FMED annualized +5.99% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, FMED or SPY?
FMED has been the more volatile fund at 18.6% annualized versus 15.3% for SPY. Worst drawdown: FMED -21.8% vs SPY -56.5%.
Should I hold both FMED and SPY?
FMED and SPY have a monthly-return correlation of 0.52, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMED and SPY?
FMED and SPY share 13 common holdings with a 2.7% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, FMED or SPY?
FMED yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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