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Launched

Fidelity Disruptive Medicine ETF

FMEDNasdaqFidelityC

$31.54−0.87 (−2.68%)

At close: Nov 2, 2026, 4:00 PM ET

C48/ 100

Rank 14 of 25 in Health Care (Broad)

C48/100Rank 14 of 25inHealth Care (Broad)
Intraday session: down, 79 prints from 32.41 to 31.54. Range 31.54 to 32.61. Use the arrow keys to read each point.31.8032.0032.2032.6010 AM12 PM2 PM4 PM
Expense ratio
0.50%
Fund size
$52M
1Y total return
+23.6%
Yield · Last 12 months
0.00%
Holdings
75
Avg volume · 30D
8.21K sh
52W range
low $23.48high $33.56
Launched

The ETF.net FMED Grade

C

Score 48 out of 100

Category
Health Care (Broad)⁠
Rank
14 of 25
Six-pillar profile for FMED. Scores out of 100: Cost 52, Risk 44, Mission 68, Tradability 27, Holdings 77, Durability 48. Strongest: Holdings (77). Weakest: Tradability (27). Leans toward Holdings.

Score 48 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.
    B68 out of 100
    Rank 11 of 11

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C44 out of 100
    Rank 16 of 25

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D27 out of 100
    Rank 19 of 25

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A77 out of 100
    Rank 6 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C48 out of 100
    Rank 15 of 25

Our read on FMED

ETF.net Research

In short

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

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

Worth knowing

  • Plain 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.
  • A small fund that trades lightly, so spreads can widen and order type matters more than it would with the category giants.
  • Concentration cuts both ways: with roughly 60 holdings, individual names move this fund far more than they would a full-sector index portfolio.

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$12,361
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FMED $12,361. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – 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 FMED. Periods over one year show the average yearly return.
PeriodFMED
Year to date+19.8%
1 month+0.1%
3 months+15.8%
1 year+23.6%
3 yearsper year+17.1%
5 yearsHistory unavailableper 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 FMED
YearReturn barFMED
2026 YTD+19.8%
2025+9.7%
2024+2.3%
2023−4.2%

History from Jun 12, 2023

FMED in the news

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 30, 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

$10,000 in FMED 3 years ago paid $53.58 in dividends.

FMED Risk

Risk pillarC44 out of 100Rank 16 of 25 in Health Care (Broad)
How much the fund’s monthly returns vary, scaled to a year.
18.4%
Annualised · 36 months to Oct 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.
0.71
vs 3-month T-bills · to Oct 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.

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

FMED Cost

Compare FMED and XLV

Overpaying vs XLV, cheapest in Health Care (Broad)

$8,290

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

  • FMED 0.50%

    $9,979

  • XLV 0.08% Cheapest

    $1,689

$10,000
30 years

Cost over time

  • FMED 0.50%
  • XLV 0.08%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530FMED $9,979XLV $1,689

Year by year

YearFMEDXLVOverpaying
10$900$147$753
20$3,460$575$2,885
30$9,979$1,689$8,290

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