Fidelity Disruptive Medicine ETF (FMED) Performance
FMED total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.6% since Dec 31, 2025
- 1 year
- +19.3% total return
- 3 years
- +15.0% a year
- Since first price
- +6.9% a year since 2023
FMED trailing returns vs SPY, QQQ, AGG
| Period | FMED total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.2% | −0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +10.5% | +10.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +25.3% | +25.3% | +7.8% | +8.4% | −1.5% |
| YTD | +16.6% | +16.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.3% | +19.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +52.2%+15.0%/yr | +51.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJun 12, 2023 | +25.3%+6.9%/yr | +24.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMED vs SPY
From Jun 12, 2023: FMED grew to $12,534, SPY to $18,297.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMED returns by calendar year
2 of 2 full years positive. Best 2025 (+9.7%), worst 2024 (+2.3%). 2026 is year to date.
FMED annual returns table
| Year | FMED | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.6% | −16.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.7% | −19.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.3% | −8.5% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMED largest drawdowns
Now 4.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 21, 2023 | −21.8% | Oct 30, 2023 | Feb 27, 2024 | 3 months | 7 months |
| Jan 30, 2025 | −19.5% | Apr 8, 2025 | Oct 27, 2025 | 2 months | 9 months |
| Nov 28, 2025 | −18.3% | Mar 30, 2026 | Jul 1, 2026 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMED risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +13.7% | +8.3% |
| Volatility (annualized) | 19.2% | 19.4% |
| Sharpe ratio | 0.54 | 0.28 |
| Sortino ratio | 0.96 | 0.46 |
| Best month | +13.5% | +13.5% |
| Worst month | −8.4% | −8.4% |
| Best 12 months | +29.8% | +29.8% |
| Worst 12 months | −7.1% | −7.1% |
| Positive months | 58% | 56% |
| Beta vs S&P 500 | 0.68 | — |
| Correlation with S&P 500 | 0.44 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMED rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 29 | −7.1% | +4.0% | +29.8% | 72% |
| 3-year (a year) | 5 | +3.5% | +10.2% | +16.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
FMED performance overview
Fidelity Disruptive Medicine ETF (FMED) returned +19.3% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +6.9% a year, turning $10,000 into about $12,534. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −21.8%, from Jul 21, 2023 to Oct 30, 2023, and it took 4 months to get back to the old high. Volatility has been 19.4% a year.
Related: FMED chart, FMED holdings. See the FMED overview for the latest quote and fund facts.
FMED performance FAQ
What is the FMED return over the past year?
FMED returned +19.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 19.3%.
How much would $10,000 invested in FMED be worth?
$10,000 invested in FMED at its first recorded close on June 12, 2023 would be worth about $12,534 on October 23, 2026 with distributions reinvested.
What was the worst year for FMED?
The worst calendar year was 2024, with a total return of +2.3%. The best was 2025 at +9.7%.
What is the biggest drawdown of FMED?
The largest peak-to-trough decline was −21.8% between July 21, 2023 and October 30, 2023. It recovered to the old high on February 27, 2024, 4 months after the bottom.
How volatile is FMED?
Over the past 3 years FMED had an annualized volatility of 19.2% and a Sharpe ratio of 0.54 (excess return over 1–3 month T-bills per unit of risk).