FMDE vs SCHM: Differences, Returns & Fees
FMDE and SCHM hold 25% of their weight in the same names. Net assets: $8.1bn on Sep 30, 2026 for Fidelity Enhanced Mid Cap Core ETF, and $14.6bn on May 31, 2026 for Schwab U.S. Mid-Cap ETF.
SCHM costs 0.20 points a year less; their one-year returns differ by 0.4 points; SCHM is 7.3 times larger.
| FMDE | SCHM | |
|---|---|---|
| Expense ratio | 0.23% | 0.03% |
| Net assets, as of Feb 29, 2024 | $1.5bn | $11.2bn |
| Total return, 1 year | +17.2% | +17.6% |
| What it tracks | No index, actively managed | Dow Jones U.S. Mid-Cap Total Stock Market Index |
| Holdings in common | 25% | |
| Top ten holdings, share of the fund | 9.8% | 13.3% |
| Below its high | 3.1%, high on Aug 14, 2026 | 5.8%, high on Jun 30, 2026 |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.
FMDE and SCHM are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FMDE follows No index, actively managed and SCHM follows Dow Jones U.S. Mid-Cap Total Stock Market Index.
- Holdings in common. 25% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
- Cost. FMDE charges 0.23% of assets a year and SCHM 0.03%, a gap of 0.20 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, FMDE and SCHM hold 25% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
25% in common
On the same fields
FMDE and SCHM on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FMDE
FMDE is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +17.2% with distributions reinvested. The prospectus expense ratio is 0.23% a year. By its holdings filed for Jun 30, 2026, 60% of the fund by weight is stocks the S&P 500 also holds, across 421 positions, with the top ten at 9.8%. It sat 3.1% below its high of Aug 14, 2026 on Oct 20, 2026.
About SCHM
SCHM tracks an index. Over the year to Oct 20, 2026 it returned +17.6% with distributions reinvested, against +15.9% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings filed for May 31, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 496 positions, with the top ten at 13.3%. It sat 5.8% below its high of Jun 30, 2026 on Oct 20, 2026.
Questions people ask
- Which returned more over the last year, FMDE or SCHM?
- In the year to Oct 20, 2026, with distributions reinvested, FMDE returned +17.2% and SCHM +17.6%.
- Which is cheaper, FMDE or SCHM?
- SCHM is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, FMDE against SCHM, data as of Oct 20, 2026. https://etfiq.com/compare/any/fmde-vs-schm
ETFIQ. (Oct 20, 2026). FMDE against SCHM. Retrieved from https://etfiq.com/compare/any/fmde-vs-schm
[FMDE against SCHM (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/fmde-vs-schm)
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