FMDEvsFEXETF Comparison
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Fidelity Enhanced Mid Cap ETF (FMDE) belongs to the US Mid Cap segment. First Trust Large Cap Core AlphaDEX Fund ETF (FEX) is part of the US Multi-Factor segment. FMDE's top 3 sector exposures are Industrials, Information Technology and Consumer Discretionary. In contrast, FEX's top sector exposures are Industrials, Information Technology and Financials. FMDE is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.57% for FEX. FMDE is up 10.99% year-to-date (YTD) with +$1.97B in YTD flows. FEX performs better with 15.57% YTD performance, and -$5M in YTD flows. Run a side-by-side ETF comparison of FMDE and FEX 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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FMDE vs FEX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 06/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FMDE FEX | +4.82%+5.48% | +11.98%+11.18% | +10.99%+15.57% | +21.83%+29.73% | n/a+72.25% | n/a+72.21% |
| Flows | FMDE FEX | +$214M+$7M | +$868M+$13M | +$1.97B-$5M | +$3.59B-$39M | --$141M | --$210M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FMDE FEX | +15.69%+15.73% | +13.85%+13.10% | n/a+14.94% | n/a+16.95% |
| Max drawdown | FMDE FEX | -3.42%-3.24% | -8.28%-6.27% | n/a-19.51% | n/a-21.53% |
| Max drawdown duration | FMDE FEX | 6d7d | 49d47d | n/a232d | n/a757d |
Trading data
FMDE | FEX | |
Last sale 6/18/2026 at 1:30 PM | $40.11 | $137.95 |
| Previous close 06/18/2026 | $39.87 | $136.66 |
| Consolidated volume 06/18/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of May 29, 2026
1-year trailing difference
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FMDE
is actively managed and doesn’t replicate an indexFMDE | FEX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 6/18/2026 at 1:30 PM
Live
Closed
FMDE | FEX | |
|---|---|---|
| Last price | $40.11 | $137.95 |
| 1D performance | +0.60% | +0.95% |
| AuM | $7.20 B | $1.58 B |
| E/R | 0.23% | 0.57% |
Characteristics
FMDE | FEX | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Fidelity | First Trust |
| Benchmark | - | NASDAQ AlphaDEX Large Cap Core Index |
| N° of holdings | 307 | 349 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 20, 2023 | May 8, 2007 |
| ESG | No | No |
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Exposure
Countries
FMDE
USA
93.02%
Other
6.98%
FEX
USA
94.25%
Other
5.75%
Sectors
FMDE
Industrials
18.41%
Information Techn.
17.76%
Consumer Discreti.
12.95%
Financials
12.64%
Health Care
7.45%
Other
30.8%
FEX
Industrials
16.7%
Information Techn.
15.83%
Financials
13.86%
Health Care
8.32%
Consumer Discreti.
7.93%
Utilities
7.3%
Other
30.06%
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Diversification
FMDE
Total weight of top 15 holdings out of 15
15.05%
FEX
Total weight of top 15 holdings out of 15
9.24%
Top 15 holdings
Data as of April 30, 2026
FMDE
WESTERN DIGITAL
1.44%
BANK OF NEW YORK MELLON
1.24%
HOWMET AEROSPACE INC
1.21%
SIMON PROPERTY GROUP REIT
1.01%
COMFORT SYSTEMS USA
1.00%
MARATHON PETROLEUM
0.99%
TERADYNE
0.99%
AMETEK
0.93%
KINDER MORGAN
0.92%
CORTEVA INC
0.90%
ALLSTATE
0.90%
STATE STREET
0.88%
FORD MOTOR
0.88%
ELECTRONIC ARTS
0.88%
CARDINAL HEALTH
0.87%
FEX
BLOOM ENERGY CORP
0.88%
US80004C2008
0.77%
SEAGATE TECHNOLOGY HOLDINGS PLC
0.76%
MICRON TECHNOLOGY
0.66%
WESTERN DIGITAL
0.66%
ADVANCED MICRO DEVICES
0.58%
CIENA
0.57%
LUMENTUM HOLDINGS
0.56%
QUANTA SERVICES
0.56%
COMFORT SYSTEMS USA
0.56%
MARVELL TECHNOLOGY
0.55%
VERTIV HOLDINGS
0.54%
MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC
0.53%
MICHAEL STORES
0.53%
DELL TECHNOLOGIES INC
0.53%
Frequently asked questions about FMDE and FEX
How have the FMDE and FEX ETFs performed in 2026?
As of June 18, 2026, FMDE is up 10.99% year-to-date (YTD), while FEX has returned 15.57%. That puts FEX better performer ahead so far this year.
Which ETF is attracting more investor money: FMDE or FEX?
Year-to-date, the FMDE ETF saw +$1.97B in flows, compared to -$5M for FEX.
Which ETF is more volatile: FMDE or FEX?
Over the past year, FMDE had a volatility of 13.85%, while FEX experienced 13.1%.
Which ETF is bigger: FMDE or FEX?
As of June 18, 2026, FMDE holds $7.20 B in assets under management (AUM), while FEX manages $1.58 B.
What sectors do the FMDE and FEX ETFs invest in?
FMDE leans toward sectors like Industrials, Information Technology and Consumer Discretionary. Meanwhile, FEX focuses on Industrials, Information Technology and Financials.
What are the top holdings of the FMDE ETF and FEX ETF?
FMDE top holdings include WESTERN DIGITAL, BANK OF NEW YORK MELLON and HOWMET AEROSPACE INC. FEX holds in its top three: BLOOM ENERGY CORP, US80004C2008 and SEAGATE TECHNOLOGY HOLDINGS PLC.
Which ETF is more diversified: FMDE or FEX?
FMDE holds 329 securities with 15.05% of its assets in the top 15. FEX has 375 securities and a top 15 weight of 9.24%.
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Latest news about FMDE & FEX
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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