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FMED vs XHS

Fidelity Disruptive Medicine ETF

FMEDCNasdaq

State Street SPDR S&P Health Care Services ETF

XHSANYSE Arca

Overlap

Expense ratio

XHS −0.15pt a year

FMED0.50%XHS0.35%

Avg volume · 30D

XHS 3.9×the volume

FMED8.21KXHS31.9K

3Y return · a year

XHS +6.0pt

FMED+15.5%XHS+21.5%

FMED vs XHS Performance

Oct 31, 2025 – Nov 2, 2026

+20.3%FMED+38.0%XHS

Oct 31, 2025 to Nov 2, 2026. FMED +20.3%. XHS +38.0%. Use the arrow keys to read each point.−10%0%10%30%Oct 2025May 2026Nov 2026
Expense ratio
FMED 0.50%
XHS 0.35%, better
Fund size
FMED $52M
XHS $234M
1Y total return
FMED +20.3%
XHS +38.0%, better
Yield (12M)
FMED 0.00%
XHS 0.15%, better
Holdings
FMED 75
XHS 63
Avg volume (30D)
FMED 8.21K sh
XHS 31.9K sh, better
NAV per share
FMED $32.47
XHS $144.25
52W range

ETF.net Grade

FMED: Cost 52, Risk 44, Mission 68, Tradability 27, Holdings 77, Durability 48. XHS: Cost 81, Risk 78, Mission not scored, Tradability 54, Holdings 87, Durability 64.
Pillar letters and Scores for FMED, XHS, with each pillar’s weight
PillarFMEDXHS
Cost30% weightC52A81Higher
Mission25% weightB68Not scored
Risk15% weightC44A78Higher
Tradability15% weightD27C54Higher
Holdings10% weightA77A87Higher
Durability5% weightC48B64Higher

Rank among Health Care (Broad) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FMED and XHS are both graded against the same 25 Health Care (Broad) funds, so their Grades compare head to head.

Health Care (Broad)⁠

Category · 25 funds
See all 25 ›

XHS ranks 4th and FMED 14th of 25 funds in the Health Care (Broad) Category.

  1. Rank 1AXLVState Street Health Care Select Sector SPDR ETFScore 85
  2. Rank 2AFHLCFidelity MSCI Health Care Index ETFScore 83
  3. Rank 3AVHTVanguard Health Care ETFScore 77
  4. Rank 4AXHSState Street SPDR S&P Health Care Services ETFScore 74
  5. Rank 5AIYHiShares U.S. Healthcare ETFScore 71
  6. Rank 13CPTHInvesco Dorsey Wright Healthcare Momentum ETFScore 50
  7. Rank 14CFMEDFidelity Disruptive Medicine ETFScore 48
  8. Rank 14CPINKSimplify Health Care ETFScore 48

Our read on each fund

ETF.net Research

FMEDCFidelity Disruptive Medicine ETF

XHSAState Street SPDR S&P Health Care Services ETF

In short

FMED Fidelity'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.

XHS Most health care ETFs are pharma funds in disguise. XHS buys the delivery system instead: insurers, hospitals, distributors and clinics, roughly equal weighted so one giant insurer does not run the show.

Stated mandate

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

XHS The fund seeks to track the total return of the S&P Health Care Services Select Industry Index before fees and expenses, providing targeted exposure to health care services companies.

Why people hold it

  • FMED 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.
  • XHS No drugmakers, no device makers. The index tracks four slices of care delivery: distributors, facilities, health care services and managed care.ssga.com
  • Modified equal weighting spreads about 60 names across large, mid and small caps, so the portfolio is not a bet on two or three mega caps.ssga.com
  • 0.35% a year sits below the 0.50% median for broad health care ETFs, on a fund that has been running since 2011.
  • Ranks in the top quartile of the broad health care ETFs we grade.

Worth knowing

  • FMED 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.
  • XHS Cheap against the median, not against the giants: XLV, VHT and FHLC charge under a tenth of a percent for cap weighted whole sector exposure.
  • Thinly traded next to the big sector funds, so spreads and limit orders matter more here.
  • Leaving out pharma and biotech means it moves differently from a whole sector fund, and insurers and hospitals sit close to reimbursement policy.ssga.com

Full FMED profile⁠

Full XHS profile⁠

FMED vs XHS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FMED vs XHS Cost

Overpaying FMED vs XHS

$2,853

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

  • FMED 0.50%

    $9,979

  • XHS 0.35%

    $7,126

$10,000
30 years

Cost over time

  • FMED 0.50%
  • XHS 0.35%
  • 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 $9,979XHS $7,126

Year by year

YearFMEDXHSOverpaying
10$900$634$266
20$3,460$2,454$1,006
30$9,979$7,126$2,853

Expense ratio

  • 0.50%FMED
  • 0.35%XHS, cheaper
  • Middle half of Health Care (Broad) funds
  • Median 0.50%

XHS 5th cheapest of 25 funds

FMED 12th cheapest of 25 funds

FMED vs XHS Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
FMED 0.00%
XHS 0.15%, better
Payout (12M)
FMED None
XHS $0.21
Last payment
FMED No data
XHS $0.01
Ex-dividend
FMED No data
XHS Sep 21, 2026
Paid on
FMED No data
XHS Sep 23, 2026
Frequency
FMED No data
XHS Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FMED2 paymentsAll FMED payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 21, 2024 $0.001; Dec 20, 2024 $0.11. Use the arrow keys to read each point.$0$12017202020232026YTD
XHSQuarterly · 39 paymentsAll XHS payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.02; Jun 16, 2017 $0.03; Sep 15, 2017 $0.03; Dec 15, 2017 $0.06; Mar 19, 2018 $0.02; Jun 18, 2018 $0.05; Sep 24, 2018 $0.07; Dec 24, 2018 $0.08; Mar 18, 2019 $0.03; Jun 24, 2019 $0.05; Sep 23, 2019 $0.05; Dec 23, 2019 $1.59; Mar 23, 2020 $0.03; Jun 22, 2020 $0.06; Sep 21, 2020 $0.04; Dec 21, 2020 $0.09; Mar 22, 2021 $0.03; Jun 21, 2021 $0.04; Sep 20, 2021 $0.07; Dec 20, 2021 $0.07; Mar 21, 2022 $0.02; Jun 21, 2022 $0.04; Sep 19, 2022 $0.03; Dec 19, 2022 $0.07; Mar 20, 2023 $0.03; Jun 20, 2023 $0.05; Sep 18, 2023 $0.07; Dec 18, 2023 $0.05; Mar 18, 2024 $0.06; Jun 24, 2024 $0.10; Sep 23, 2024 $0.09; Dec 23, 2024 $0.08; Mar 24, 2025 $0.04; Jun 23, 2025 $0.06; Sep 22, 2025 $0.07; Dec 22, 2025 $0.12; Mar 23, 2026 $0.04; Jun 22, 2026 $0.04; Sep 21, 2026 $0.01. Use the arrow keys to read each point.$0$12017202020232026YTD

FMED vs XHS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FMED 18.4%, betterXHS 20.8%
Return per unit of riskSharpe ratio, 3 years
FMED 0.71XHS 0.85, better
Worst fallMax drawdown, 5 years
FMED −21.8%since Jun 2023XHS −30.0%
Market sensitivityBeta, 5 years
FMED 0.77XHS 0.93

FMED and XHS in the news

All news⁠

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