FEXvsFMDEETF Comparison
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First Trust Large Cap Core AlphaDEX Fund ETF (FEX) belongs to the US Multi-Factor segment. Fidelity Enhanced Mid Cap ETF (FMDE) is part of the US Mid Cap segment. FEX's top 3 sector exposures are Finance, Technology and Industrials. In contrast, FMDE's top sector exposures are Technology, Finance and Industrials. FEX is more expensive with a Total Expense Ratio (TER) of 0.57%, versus 0.23% for FMDE. FEX is up 15.42% year-to-date (YTD) with -$3M in YTD flows. FMDE performs worse with 12.26% YTD performance, and +$2.33B in YTD flows. Run a side-by-side ETF comparison of FEX and FMDE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FEX vs FMDE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FEX FMDE | -0.98%+1.22% | +5.47%+6.33% | +15.42%+12.26% | +22.23%+17.13% | +62.68%n/a | +67.00%n/a |
| Flows | FEX FMDE | +$2M+$327M | +$15M+$792M | -$3M+$2.33B | -$31M+$3.79B | -$177M- | -$195M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FEX FMDE | +14.60%+12.48% | +13.25%+13.68% | +14.91%n/a | +16.92%n/a |
| Max drawdown | FEX FMDE | -3.74%-3.27% | -6.27%-8.28% | -19.51%n/a | -21.53%n/a |
| Max drawdown duration | FEX FMDE | 24d8d | 47d49d | 232dn/a | 757dn/a |
Trading data
FEX | FMDE | |
Last sale 7/27/2026 at 1:30 PM | $136.51 | $40.88 |
| Previous close 07/24/2026 | $136.23 | $40.57 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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FMDE
is actively managed and doesn’t replicate an indexFEX | FMDE | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
FEX | FMDE | |
|---|---|---|
| Last price | $136.51 | $40.88 |
| 1D performance | +0.21% | +0.76% |
| AuM | $1.57 B | $7.65 B |
| E/R | 0.57% | 0.23% |
Characteristics
FEX | FMDE | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | First Trust | Fidelity |
| Benchmark | NASDAQ AlphaDEX Large Cap Core Index | - |
| N° of holdings | 374 | 329 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 8, 2007 | November 20, 2023 |
| ESG | No | No |
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Exposure
Countries
FEX
USA
96.22%
Other
3.78%
FMDE
USA
95.81%
Other
4.19%
Sectors
FEX
Finance
20.42%
Technology
18.76%
Industrials
17.76%
Healthcare
9.11%
Utilities
7.05%
Other
26.9%
FMDE
Technology
19.58%
Finance
19.2%
Industrials
17.6%
Healthcare
8.76%
Other
34.85%
Diversification
FEX
Total weight of top 15 holdings out of 15
12.1%
FMDE
Total weight of top 15 holdings out of 15
14.42%
Top 15 holdings
Data as of June 30, 2026
FEX
Sandisk Corp.
1.24%
Micron Technology, Inc.
1.19%
Dell Technologies, Inc.
1.01%
Seagate Technology Holdings Plc
0.91%
Western Digital Corp.
0.86%
Marvell Technology, Inc.
0.85%
Advanced Micro Devices, Inc.
0.83%
Bloom Energy Corp.
0.83%
Humana, Inc.
0.73%
MKS, Inc.
0.69%
Corning, Inc.
0.63%
MACOM Technology Solutions Holdings, Inc.
0.61%
Applied Materials, Inc.
0.59%
United Airlines Holdings, Inc.
0.57%
Teradyne, Inc.
0.56%
FMDE
Teradyne, Inc.
1.12%
The Bank of New York Mellon Corp.
1.05%
Howmet Aerospace, Inc.
1.04%
The Allstate Corp.
1.01%
Kinder Morgan, Inc.
1.00%
Comfort Systems USA, Inc.
0.98%
Marathon Petroleum Corp.
0.96%
AMETEK, Inc.
0.95%
Keysight Technologies, Inc.
0.94%
Ford Motor Co.
0.93%
State Street Corp.
0.92%
L3Harris Technologies, Inc.
0.88%
Ciena Corp.
0.88%
Ventas, Inc.
0.87%
Electronic Arts, Inc.
0.87%
Frequently asked questions about FEX and FMDE
How have the FEX and FMDE ETFs performed in 2026?
As of July 24, 2026, FEX is up 15.42% year-to-date (YTD), while FMDE has returned 12.26%. That puts FEX better performer ahead so far this year.
Which ETF is attracting more investor money: FEX or FMDE?
Year-to-date, the FEX ETF saw -$3M in flows, compared to +$2.33B for FMDE.
Which ETF is more volatile: FEX or FMDE?
Over the past year, FEX had a volatility of 13.25%, while FMDE experienced 13.68%.
Which ETF is bigger: FEX or FMDE?
As of July 24, 2026, FEX holds $1.57 B in assets under management (AUM), while FMDE manages $7.65 B.
What sectors do the FEX and FMDE ETFs invest in?
FEX leans toward sectors like Finance, Technology and Industrials. Meanwhile, FMDE focuses on Technology, Finance and Industrials.
What are the top holdings of the FEX ETF and FMDE ETF?
FEX top holdings include Sandisk Corp., Micron Technology, Inc. and Dell Technologies, Inc.. FMDE holds in its top three: Teradyne, Inc., The Bank of New York Mellon Corp. and Howmet Aerospace, Inc..
Which ETF is more diversified: FEX or FMDE?
FEX holds 374 securities with 12.1% of its assets in the top 15. FMDE has 332 securities and a top 15 weight of 14.42%.
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Latest news about FEX & FMDE
Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs
February 16, 2024
FMDE
Fidelity Continues Trend of Mutual Fund Conversions to ETFs
November 27, 2023
FMDE
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