INVNvsFMDEETF Comparison
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Alger Russell Innovation ETF (INVN) belongs to the US Large Cap segment. Fidelity Enhanced Mid Cap ETF (FMDE) is part of the US Mid Cap segment. INVN's top 3 sector exposures are Technology, Healthcare and Finance. In contrast, FMDE's top sector exposures are Technology, Finance and Industrials. INVN is more expensive with a Total Expense Ratio (TER) of 0.95%, versus 0.23% for FMDE. INVN is up 19.47% year-to-date (YTD) with -$4M in YTD flows. FMDE performs worse with 13.2% YTD performance, and +$2.74B in YTD flows. Run a side-by-side ETF comparison of INVN 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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INVN vs FMDE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | INVN FMDE | -0.53%-3.20% | +24.75%+1.99% | +19.47%+13.20% | +20.81%+13.50% | n/an/a | n/an/a |
| Flows | INVN FMDE | +$3M+$191M | +$418K+$679M | -$4M+$2.74B | -$4M+$3.77B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | INVN FMDE | +28.53%+10.30% | +24.89%+13.66% | n/an/a | n/an/a |
| Max drawdown | INVN FMDE | -6.86%-4.98% | -20.34%-8.28% | n/an/a | n/an/a |
| Max drawdown duration | INVN FMDE | 15d33d | 142d49d | n/an/a | n/an/a |
Trading data
INVN | FMDE | |
Last sale 9/18/2026 at 1:30 PM | $25.84 | $40.82 |
| Previous close 09/17/2026 | $26.23 | $41.18 |
| Consolidated volume 09/17/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FMDE
is actively managed and doesn’t replicate an indexINVN | 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 9/18/2026 at 1:30 PM
Live
Closed
INVN | FMDE | |
|---|---|---|
| Last price | $25.84 | $40.82 |
| 1D performance | -1.49% | -0.87% |
| AuM | $12.28 M | $8.09 B |
| E/R | 0.95% | 0.23% |
Characteristics
INVN | FMDE | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Fred Alger Management | Fidelity |
| Benchmark | Alger Russell Innovation Index | - |
| N° of holdings | 50 | 372 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 6, 2025 | November 20, 2023 |
| ESG | No | No |
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Exposure
Countries
INVN
USA
97.93%
Other
2.07%
FMDE
USA
96.21%
Other
3.79%
Sectors
INVN
Technology
59.75%
Healthcare
19.22%
Finance
9.12%
Other
11.91%
FMDE
Technology
19.53%
Finance
19.26%
Industrials
16.67%
Healthcare
10.6%
Non-Energy Materi.
7.48%
Other
26.46%
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Diversification
INVN
Total weight of top 15 holdings out of 15
34.02%
FMDE
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
INVN
RingCentral, Inc.
2.53%
PayPal Holdings, Inc.
2.48%
Bill Holdings, Inc.
2.46%
Zebra Technologies Corp.
2.39%
Expedia Group, Inc.
2.37%
CCC Intelligent Solutions Holdings, Inc.
2.28%
Regeneron Pharmaceuticals, Inc.
2.24%
Procore Technologies, Inc.
2.22%
HubSpot, Inc.
2.17%
Klaviyo, Inc.
2.17%
Figma, Inc.
2.16%
Block, Inc.
2.15%
DocuSign, Inc.
2.14%
Zscaler, Inc.
2.14%
GitLab, Inc.
2.13%
FMDE
Marathon Petroleum Corp.
1.07%
The Allstate Corp.
1.07%
L3Harris Technologies, Inc.
0.95%
Ford Motor Co.
0.92%
Nucor Corp.
0.92%
AMETEK, Inc.
0.91%
Kinder Morgan, Inc.
0.89%
Ventas, Inc.
0.89%
State Street Corp.
0.89%
Keysight Technologies, Inc.
0.86%
Humana, Inc.
0.85%
Expedia Group, Inc.
0.83%
Comfort Systems USA, Inc.
0.80%
Cardinal Health, Inc.
0.79%
Corteva, Inc.
0.79%
Frequently asked questions about INVN and FMDE
How have the INVN and FMDE ETFs performed in 2026?
As of September 18, 2026, INVN is up 19.47% year-to-date (YTD), while FMDE has returned 13.2%. That puts INVN better performer ahead so far this year.
Which ETF is attracting more investor money: INVN or FMDE?
Year-to-date, the INVN ETF saw -$4M in flows, compared to +$2.74B for FMDE.
Which ETF is more volatile: INVN or FMDE?
Over the past year, INVN had a volatility of 24.89%, while FMDE experienced 13.66%.
Which ETF is bigger: INVN or FMDE?
As of September 18, 2026, INVN holds $12.28 M in assets under management (AUM), while FMDE manages $8.09 B.
What sectors do the INVN and FMDE ETFs invest in?
INVN leans toward sectors like Technology, Healthcare and Finance. Meanwhile, FMDE focuses on Technology, Finance and Industrials.
What are the top holdings of the INVN ETF and FMDE ETF?
INVN top holdings include RingCentral, Inc., PayPal Holdings, Inc. and Bill Holdings, Inc.. FMDE holds in its top three: Marathon Petroleum Corp., The Allstate Corp. and L3Harris Technologies, Inc..
Which ETF is more diversified: INVN or FMDE?
INVN holds 50 securities with 34.02% of its assets in the top 15. FMDE has 374 securities and a top 15 weight of 13.43%.
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Latest news about INVN & 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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