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FMED

GradeCNASDAQ Global Market

Fidelity Disruptive Medicine ETF

Sectors · Fidelity · Inception 2020-04-16

$31.46−0.92 (−2.83%)

As of Sep 23, 2026, 2:11 PM EDT

History starts Jun 12, 2023.
Intraday session: down, 28 prints from 32.38 to 31.46. Range 31.46 to 32.35. Use the arrow keys to read each point.$31.60$32.00$32.4010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$52M
1Y return
+31.5%
Yield · Last 12 months
0.00%
Holdings
63
Volume · 30D
0M sh
NAV per share
$31.82
52W range
low $23.48high $32.89

The ETF.net FMED Grade

C

49/ 100

Rank 14 of 25 in Health Care (Broad)⁠

Confidence High

Six-pillar profile for FMED. Scores out of 100: Cost 52, Risk 47, Mission 67, Tradability 29, Holdings 76, Durability 47. Strongest: Holdings (76). Weakest: Tradability (29). Leans toward Holdings.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 of 100 sits in the C 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.
    CScore 52
    Category rank12/25 · top 48%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 67
    Category rank10/11 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 47
    Category rank16/24 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 29
    Category rank18/25 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 76
    Category rank7/25 · top 28%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 47
    Category rank15/25 · mid-pack

Graded as of Sep 22, 2026

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 Sep 21, 2026, 3:26 PM
Asset class
Stocks
Holdings
63
Top-10 weight
38%
Largest holding
SECURITIES LENDING CF5.9%

Sectors

  • Health Care98.4%
  • Technology1.6%

Geography

  • United States85.94%
  • Netherlands3.64%
  • France2.44%
  • United Kingdom1.72%
  • Denmark1.69%
  • Belgium1.46%
  • Bermuda1.20%
  • China0.73%
  • Other countries (2)1.16%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SECURITIES LENDING CF5.86%3,005,928$3M49
002TXG10X GENOMICS INC5.45%36,500$3M136
003TMOTHERMO FISHER SCIENTIFIC INC4.07%3,200$2M369
004NTRANATERA INC4.04%5,600$2M223
005DHRDANAHER CORP3.72%9,000$2M327
006ILMNILLUMINA INC3.18%6,800$2M305
007ARGXARGENX SE SPONSORED ADR3.09%1,600$2M68
008LFSTLIFESTANCE HEALTH GROUP INC3.06%124,900$2M119
009RVMDREVOLUTION MEDICINES INC2.68%7,200$1M169
010DIM.PASARTORIUS STEDIM BIOTECH2.57%5,800$1M78
011HTFLHEARTFLOW INC2.47%25,000$1M63
012ALNYALNYLAM PHARMACEUTICALS INC2.34%5,000$1M258
013ISRGINTUITIVE SURGICAL INC2.15%2,800$1M406
014COGTCOGENT BIOSCIENCES INC2.09%34,000$1M84
015MRNAMODERNA INC2.04%6,800$1M240

Showing 1–15 of 76 holdings

FMED Performance

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

FMED$13,147
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FMED $13,147. SPY $11,723. Use the arrow keys to read each point.$9,225$11,442$13,659Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – 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 FMED. Periods over one year show the average yearly return.
PeriodFMED
Year to date+19.7%
1 month−0.5%
3 months+24.0%
1 year+31.5%
3 years+13.8%per year
5 yearsHistory unavailable—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 FMED
YearReturn barFMED
2026 YTD+19.7%
2025+9.7%
2024+2.3%
2023−4.2%

History from Jun 12, 2023

FMED in the news

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

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 Sep 22, 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.
19.8%
Annualised · 36 months to Aug 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.
0.36
vs 3-month T-bills · to Aug 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%
39 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.
0.78
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.