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Launched

Fidelity Disruptive Medicine ETF

FMEDNasdaqC

$30.50−0.54 (−1.74%)

At close: Oct 13, 2026, 4:00 PM

C49/ 100

Rank 14 of 25 in Health Care (Broad)

C49/100Rank 14 of 25inHealth Care (Broad)
Intraday session: down, 60 prints from 31.04 to 30.50. Range 30.50 to 31.06. Use the arrow keys to read each point.30.6030.7030.8030.9010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$52M
1Y total return
+21.9%
Yield · Last 12 months
0.00%
Holdings
75
Avg volume · 30D
0M sh
NAV per share
$31.00
52W range
low $23.48high $32.99
Launched

The ETF.net FMED Grade

C

Score 49 out of 100

Category
Health Care (Broad)⁠
Rank
14 of 25
Six-pillar profile for FMED. Scores out of 100: Cost 52, Risk 49, Mission 63, Tradability 28, Holdings 74, Durability 47. Strongest: Holdings (74). Weakest: Tradability (28). Leans toward Holdings.

Score 49 of 100 falls in the C 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.
    C52 out of 100
    Rank 12 of 25

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B63 out of 100
    Rank 11 of 11

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 13 of 24

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 18 of 25

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A74 out of 100
    Rank 8 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C47 out of 100
    Rank 15 of 25

Our read on FMED

ETF.net Research

CFidelity's stock-picking take on health care: roughly 60 global companies its managers judge to be disrupting medicine. Actively run, deliberately concentrated, and priced right at the median fee for broad health care funds.

Stated mandate

The fund seeks long-term growth of capital and normally invests at least 80% of its assets in securities of disruptive medicine companies.

Why people hold it

  1. 01Real active management, not closet indexing: about 60 global names, with at least 80% of assets in disruptive medicine companies per the prospectus.institutional.fidelity.com
  2. 02At 0.50%, it charges the median fee for broad health care ETFs while doing hand-picked selection rather than tracking an index.
  3. 03The portfolio itself is the strong part of the story, one of the better built line-ups in the broad health care group.

Worth knowing

  1. 01Plain sector beta is far cheaper. VHT (0.09%), FHLC (0.08%) and XLV (0.08%) cover health care for a fraction of the fee, so the stock picking has to earn its keep.
  2. 02A small fund that trades lightly, so spreads can widen and order type matters more than it would with the category giants.
  3. 03Concentration cuts both ways: with roughly 60 holdings, individual names move this fund far more than they would a full-sector index portfolio.

FMED Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
75
Top-10 weight
46%
Largest holding
Securities Lending Cf14.1%

Sectors

  • Health Care98.3%
  • Technology1.7%

Geography

  • United States87.04%
  • Netherlands2.89%
  • France2.46%
  • United Kingdom1.75%
  • Denmark1.52%
  • Bermuda1.42%
  • Belgium1.30%
  • China0.66%
  • Other countries (2)0.96%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Securities Lending Cf14.11%7,189,172$7M51
002TXG10X Genomics Inc5.14%32,500$3M137
003NTRANatera Inc4.40%5,600$2M238
004TMOThermo Fisher Scientific Inc4.13%3,200$2M375
005DHRDanaher Corp3.88%9,000$2M331
006ILMNIllumina Inc3.71%6,800$2M322
007DIM.PASartorius Stedim Biotech2.81%6,000$1M78
008LFSTLifestance Health Group Inc2.79%114,400$1M122
009MRNAModerna Inc2.69%6,100$1M286
010RVMDRevolution Medicines Inc2.68%7,200$1M176
011ARGXArgenx SE Sponsored Adr2.59%1,600$1M70
012ALNYAlnylam Pharmaceuticals Inc2.28%5,000$1M259
013ISRGIntuitive Surgical Inc2.25%2,700$1M410
014WSTWest Pharmaceutical Svcs Inc2.23%3,100$1M284
015HTFLHeartflow Inc2.20%22,500$1M67

Showing 1–15 of 75 holdings

FMED Performance

Launched Apr 16, 2020

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.
FMED$12,187
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. FMED $12,187. SPY $12,044. Use the arrow keys to read each point.$8,987$11,095$13,204Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 FMED. Periods over one year show the average yearly return.
PeriodFMED
Year to date+14.8%
1 month+0.1%
3 months+5.0%
1 year+21.9%
3 yearsper year+13.7%
5 yearsHistory unavailableper year—
10 yearsFund is under 10 years oldper 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 FMED
YearReturn barFMED
2026 YTD+14.8%
2025+9.7%
2024+2.3%
2023−4.2%

History from Jun 12, 2023

FMED in the news

Filtered to FMED · Health Care (Broad)

FMED 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 Oct 12, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2024

One bar per payment. 2 payments in 2024. Jun 21, 2024 $0.001; Dec 20, 2024 $0.11. Use the arrow keys to read each point.2024
Ex-datePay dateAmount per share
Dec 20, 2024Dec 24, 2024$0.11
Jun 21, 2024Jun 25, 2024$0.001

FMED Risk

How much the fund’s monthly returns vary, scaled to a year.
19.2%
Annualised · 36 months to Sep 2026
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.
0.53
vs 3-month T-bills · to Sep 2026
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.
−21.8%
40 months · trough Oct 2023
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.
0.77
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.

FMED Cost

Expense ratio0.50%
  • The middle half of Health Care (Broad) funds
  • Median 0.50%

11 of the 25 Health Care (Broad) funds charge less.

FMED costs $50.00 a year on $10,000. The median Health Care (Broad) fund costs $50.00.

Other funds in Health Care (Broad)

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