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FEMV

GradeANew York Stock Exchange Arca

Fidelity Enhanced Mid Cap Value ETF

Active Equity · Fidelity · Inception 2026-04-28

$26.80−0.03 (−0.10%)

As of Sep 23, 2026, 12:01 PM EDT

History starts Apr 28, 2026.History starts Apr 28, 2026.History starts Apr 28, 2026.
Intraday session: down, 3 prints from 26.83 to 26.80. Range 26.77 to 26.83. Use the arrow keys to read each point.$26.78$26.8210 AM12 PM2 PM4 PM
Expense ratio
0.23%
Fund size
$7M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$26.83
52W range
low $24.84high $28.19

The ETF.net FEMV Grade

A

77/ 100

Rank 4 of 48 in US Active Small/Mid-Cap⁠

Confidence Medium

Six-pillar profile for FEMV. Scores out of 100: Cost 96, Risk 96, Mission not scored, Tradability 35, Holdings 81, Durability 33. Strongest: Cost (96). Weakest: Durability (33). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 77 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 96
    Category rank3/48 · top 6%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 96
    Category rank1/44 · top 2%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 35
    Category rank35/48 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 81
    Category rank8/48 · top 17%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 33
    Category rank38/48 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FEMV

ETF.net Research

AActive mid-cap value, priced like an index fund. FEMV hunts capital appreciation in the Russell Midcap Value corner of the US market for 0.23% a year, a fraction of the typical active US equity ETF fee.

Stated mandate

The fund seeks capital appreciation and targets the U.S. mid-cap value segment of the equity market.

Why people hold it

  1. 010.23% a year, well under the going rate for active US equity ETFs. At that price, cost stops being the argument against going active.
  2. 02The mandate is stated plainly: US mid-cap value, measured against the Russell Midcap Value index, aiming at capital appreciation. Little guesswork about what you own.institutional.fidelity.com
  3. 03The portfolio mix and risk profile screen well against other active US stock ETFs, with no leverage, derivatives quirks or unusual wrapper features flagged in the structure.
  4. 04Part of Fidelity's Enhanced lineup, whose large-cap sibling FELC (0.18%) ranks among the strongest active US equity funds in the peer group.

Worth knowing

  1. 01Launched in 2026, so there is no long record to lean on and the risk read rests on a short history.
  2. 02A small asset base and thin trading volume are the trade-off for being early. Spreads can run wider than at a mega-fund, especially in fast markets.
  3. 03Distributions land once or twice a year, not monthly. This is a growth-of-capital mandate, not an income schedule.

FEMV Holdings

As of Sep 21, 2026, 3:29 PM
Asset class
Stocks
Holdings
—
Top-10 weight
10%
Largest holding
MPC1.2%

Geography

  • United States95.40%
  • United Kingdom2.65%
  • Ireland0.60%
  • Puerto Rico0.60%
  • Netherlands0.44%
  • Bermuda0.27%
  • Spain0.05%
The fund’s holdings, weight-ordered — page 1 of 18.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MPCMARATHON PETROLEUM CORP1.20%189$80K391
002HPEHEWLETT PACKARD ENTERPRISE CO1.07%1,183$72K379
003NUENUCOR CORP1.04%280$70K340
004KMIKINDER MORGAN INC1.02%2,150$68K342
005PSXPHILLIPS 661.01%247$67K368
006STTSTATE STREET CORP1.00%367$67K356
007IQVIQVIA HOLDINGS INC0.99%250$67K290
008AMEAMETEK INC NEW0.98%277$66K314
009DLRDIGITAL REALTY TRUST INC0.98%360$66K309
010ILMNILLUMINA INC0.96%268$64K305
011CTVACORTEVA INC0.96%795$64K304
012AAGILENT TECHNOLOGIES INC0.95%405$63K311
013FFORD MOTOR CO0.94%4,769$63K329
014ALLALLSTATE CORPORATION0.93%250$62K357
015WABWESTINGHOUSE AIR BRAKE TEC CRP0.92%220$62K272

Showing 1–15 of 270 holdings

FEMV Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FEMV$10,223
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. FEMV $10,223. SPY $10,415. Use the arrow keys to read each point.$9,722$10,240$10,759Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FEMV. Periods over one year show the average yearly return.
PeriodFEMV
Year to dateFund launched this year—
1 month−3.4%
3 months+2.2%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FEMV
YearReturn barFEMV
2026 YTD+8.8%

Since listing, Apr 28, 2026

FEMV in the news

ETF.net Research hasn’t filed on FEMV yet — coverage lands here as it’s written.

FEMV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 18, 2026 $0.07; Sep 18, 2026 $0.09. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.09
Jun 18, 2026Jun 23, 2026$0.07

FEMV Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
−0.05
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FEMV Cost

Expense ratio0.23%
  • The middle half of US Active Small/Mid-Cap funds
  • Median 0.55%

1 of the 47 US Active Small/Mid-Cap funds charge less.

FEMV costs $23.00 a year on $10,000. The median US Active Small/Mid-Cap fund costs $55.00.