Skip to content
etf.net

Launched

Fidelity Enhanced Mid Cap Value ETF

FEMVNYSE ArcaFidelityA

$27.79+0.21 (+0.78%)

As of Nov 2, 2026, 3:27 PM ET

A79/ 100

Rank 2 of 47 in US Active Small/Mid-Cap

A79/100Rank 2 of 47inUS Active Small/Mid-Cap
Intraday session: up, 67 prints from 27.58 to 27.79. Range 27.58 to 27.87. Use the arrow keys to read each point.27.6527.7027.7527.8510 AM12 PM2 PM4 PM
Expense ratio
0.23%
Fund size
$7M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
270
Avg volume · 30D
1.5K sh
52W range
low $24.71high $28.19
Launched

The ETF.net FEMV Grade

Based on 5 of 6 pillars

A

Score 79 out of 100

Category
US Active Small/Mid-Cap⁠
Rank
2 of 47
Six-pillar profile for FEMV. Scores out of 100: Cost 97, Risk 93, Mission not scored, Tradability 47, Holdings 82, Durability 35. Strongest: Cost (97). Weakest: Durability (35). Based on 5 of 6 pillars.

Score 79 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A97 out of 100
    Rank 2 of 47

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A93 out of 100
    Rank 1 of 44

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C47 out of 100
    Rank 25 of 47

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A82 out of 100
    Rank 8 of 47

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D35 out of 100
    Rank 36 of 47

Our read on FEMV

ETF.net Research

In short

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

  • 0.23% a year, well under the going rate for active US equity ETFs. At that price, cost stops being the argument against going active.
  • The 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.fidelity.com
  • The 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.
  • Part 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

  • Launched in 2026, so there is no long record to lean on and the risk read rests on a short history.
  • A 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.
  • Distributions land once or twice a year, not monthly. This is a growth-of-capital mandate, not an income schedule.

FEMV Performance

Launched Apr 28, 2026

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

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FEMV$10,185
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. FEMV $10,185. SPY $10,141. Use the arrow keys to read each point.$9,750$10,000$10,250$10,500Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 yearNo data
1 month+4.9%
3 months+1.9%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+11.9%

Since listing, Apr 28, 2026

FEMV in the news

FEMV Dividends

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

Risk pillarA93 out of 100Rank 1 of 44 in US Active Small/Mid-Cap
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.

FMP measures it over up to five years of monthly returns.

FEMV Cost

Compare FEMV and AVMC

Overpaying vs AVMC, cheapest in US Active Small/Mid-Cap

$1,010

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FEMV 0.23%

    $4,759

  • AVMC 0.18% Cheapest

    $3,749

$10,000
30 years

Cost over time

  • FEMV 0.23%
  • AVMC 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K$5K051015202530FEMV $4,759AVMC $3,749

Year by year

YearFEMVAVMCOverpaying
10$419$328$91
20$1,630$1,281$349
30$4,759$3,749$1,010

Other funds in US Active Small/Mid-Cap

See others