EPMV vs FEMV

EPMVDHarbor Mid Cap Value ETF (EPMV)

FEMVAFidelity Enhanced Mid Cap Value ETF

In short

EPMV Harbor's mid-cap value ETF, launched in 2025, runs a concentrated book of roughly 60 US stocks aimed at long-term total return. Active-manager pricing, a short history, and a portfolio built to look nothing like an index.

FEMV Active 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

EPMV The Fund seeks long-term total return.

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

Why people hold it

• EPMV Concentrated by design: roughly 60 names, so individual stock picks register instead of getting diluted across hundreds of positions.
• The mandate is plain: principally US common stocks and other equity securities, with long-term total return as the stated objective.
• The portfolio is the strong suit here. Its holdings stack up better against active US equity peers than its price tag does.

• FEMV 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

• EPMV The fee is 0.88% a year, above the typical active US equity ETF and far above index-plus rivals like DFAC (0.17%) and DFAU (0.12%).
• It launched in May 2025, so there is little track record to judge, and trading is thin enough that spreads deserve a look before you place an order.
• Distributions arrive once or twice a year, not quarterly or monthly.

• FEMV 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.

Full EPMV profile⁠

Full FEMV profile⁠