FEMV vs GRNJ

FEMVAFidelity Enhanced Mid Cap Value ETF

GRNJDFundstrat Granny Shots US Small- & Mid-Cap ETF

In short

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.

GRNJ Tom Lee's Granny Shots rulebook, aimed down the cap scale. A stock only qualifies if it shows up in at least two of Fundstrat's seven macro themes, every survivor gets an equal slice, and the whole thing is reshuffled quarterly.

Stated mandate

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

GRNJ The fund is an actively managed exchange-traded fund seeking long-term capital appreciation.

Why people hold it

• 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.

• GRNJ The two-theme filter is the point: no stock enters on a single storyline. Positions are equal-weighted, so no one name dominates the portfolio.grannyshots.comprnewswire.com
• Quarterly rebalancing resets positions back to equal size, which trims winners and reloads laggards instead of letting the portfolio drift.grannyshots.com
• Despite launching in late 2025, it already sits in the $250M-$1B asset range and trades with moderate, steady volume for a fund this young.

Worth knowing

• 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.

• GRNJ At 0.75% a year it runs above the 0.65% median for active US equity ETFs. That is the toll for Fundstrat's research.
• Launched November 2025, so the live record is short. The large-cap version's history is a different portfolio, not this one's.grannyshots.com
• Small and mid caps swing harder than blue chips, and quarterly rebalances can turn over a meaningful chunk of the holdings.grannyshots.com

Full FEMV profile⁠

Full GRNJ profile⁠