FMED vs SPY
Fidelity Disruptive Medicine ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FMED or SPY?
Each has led over a different period.
SPY has a lower expense ratio. FMED led over 1Y, SPY over 3Y and the full window. FMED is less concentrated, with 33.4% 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 | FMED | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $45M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 77 | 505 |
| YTD Return | +17.48%Best | +12.99% |
| 1Y Return | +29.27%Best | +16.73% |
| 3Y Return (annualized) | +13.01% | +22.52%Best |
| 5Y Return (annualized) | - | +13.07% |
| Volatility (annualized) | 19.4% | 12.6%Best |
| Max Drawdown | -21.8% | -18.8%Best |
| $10,000 over 3.3 years | $12,625 | $18,499Best |
| Top 10 Weight | 33.4%Best | 37.8% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 13, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 12, 2023 to Sep 23, 2026 (3.3 years).
FMED vs SPY 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 3.3 years both funds cover.
FMED vs SPY Performance
Fidelity Disruptive Medicine ETF (FMED) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FMED returned +29.27% while SPY returned +16.73%. Year to date, FMED is up 17.48% versus a gain of 12.99% for SPY.
Over three years, FMED compounded at +13.01% per year against +22.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMED has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 12.6% 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 -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.50. They move together some of the time, and apart the rest.
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 0.98% for SPY.
Holdings Overlap
21.8% of FMED's money is in holdings SPY also owns. 3.1% of SPY's money is in holdings FMED also owns.
FMED and SPY share little of their money.
11 positions in common, counted across the 72 positions we hold weights for in FMED and 504 in SPY, against full books of 77 and 505.
What only one of them owns
Our book lists 486 positions for SPY that do not appear in our book for FMED (96.2% of the fund), and 51 for FMED that do not appear in SPY (63.9%).
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 FMED | Weight in SPY | Difference |
|---|---|---|---|
| TMOThermo Fisherscientific Inc. | 3.88% | 0.34% | 3.54% |
| DHRDanaher Corporation | 3.79% | 0.20% | 3.59% |
| MRNAModerna therapeutics | 2.69% | 0.08% | 2.61% |
| LLYEli Lilly & Co. | 0.90% | 1.40% | 0.50% |
| ISRGIntuitive Surgical Inc. | 2.03% | 0.20% | 1.83% |
| UNHUnitedhealth Group Incorporated | 1.61% | 0.55% | 1.06% |
| EWEdwards Lifesciences Corp | 1.76% | 0.08% | 1.68% |
| WSTWest Pharmaceutical Services Inc | 1.71% | 0.04% | 1.67% |
| VEEVVeeva Systems Inc | 1.62% | 0.06% | 1.56% |
| BSXBoston Scientific Corp. | 1.11% | 0.11% | 1.00% |
21.8% of FMED is already inside SPY.
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, FMED or SPY?
FMED has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, FMED or SPY?
Over the past year FMED returned +29.27% vs +16.73% for SPY, so FMED leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMED or SPY?
FMED has been the more volatile fund at 19.4% annualized versus 12.6% for SPY. Worst drawdown: FMED -21.8% vs SPY -18.8%.
Should I hold both FMED and SPY?
FMED and SPY have a monthly-return correlation of 0.50, 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 FMED and SPY?
21.8% of FMED's money is in holdings SPY also owns. 3.1% of SPY's is in holdings FMED also owns. They hold 11 positions in common, counted across the 72 positions we hold weights for in FMED and 504 in SPY.
Which pays a higher dividend, FMED or SPY?
FMED yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FMED?
SPY has a lower expense ratio. FMED led over 1Y, SPY over 3Y and the full window. FMED is less concentrated, with 33.4% 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.