{
 "ticker": "FMED",
 "name": "Fidelity Disruptive Medicine ETF",
 "issuer": "Fidelity",
 "desk": "themes",
 "url": "https://etfiq.com/funds/fmed",
 "html": "https://etfiq.com/funds/fmed",
 "markdown": "https://etfiq.com/funds/fmed.md",
 "as_of": "2026-09-11",
 "verdict": "FMED holds 68 stocks, and 75% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "25.4%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMED, already in the S&P 500: 25.4%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "97.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMED, active share vs the S&P 500: 97.1%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "31.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMED, top ten holdings: 31.5%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+24.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "FMED, total return, 1 year: +24.6%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$52m",
   "source": "the issuer own figure for this ETF, month end, as of Aug 31, 2026",
   "as_of": "2026-09-11",
   "sentence": "FMED, net assets: $52m (the issuer own figure for this ETF, month end, as of Aug 31, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "485BPOS XBRL, Sep 24, 2025",
   "as_of": "2026-09-11",
   "sentence": "FMED, expense ratio: 0.50% (485BPOS XBRL, Sep 24, 2025)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Broad innovation and megatrends",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 12, 2023",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "25.4%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "97.1%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "8.7%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "98.9%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "31.5%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "68",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "May 31, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "UCB SA 4.8%, LIFESTANCE HEALTH GROUP INC 4.3%, DANAHER CORP 3.4%, 10X GENOMICS INC 3.1%, INTUITIVE SURGICAL INC 2.9%, COGENT BIOSCIENCES INC 2.9%, ALNYLAM PHARMACEUTICALS INC 2.8%, ARGENX SE 2.8%, LEGEND BIOTECH CORP 2.3%, UNITEDHEALTH GROUP INC 2.3%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$52m",
   "source": "the issuer own figure for this ETF, month end, as of Aug 31, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u22125.7%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.50%",
   "source": "485BPOS XBRL, Sep 24, 2025"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.51%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "GDOC 24%, HTEC 22%, EKG 22%, IBBQ 20%, BMED 20%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+21.4%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "+18.1 pts",
   "Gap to Nasdaq-100": "+22.2 pts"
  },
  {
   "window": "6 months",
   "Total return": "+28.9%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "+12.8 pts",
   "Gap to Nasdaq-100": "+8.2 pts"
  },
  {
   "window": "1 year",
   "Total return": "+24.6%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "+7.1 pts",
   "Gap to Nasdaq-100": "+1.6 pts"
  },
  {
   "window": "3 years",
   "Total return": "+33.2%",
   "S&P 500": "+77.9%",
   "Gap to S&P 500": "\u221244.7 pts",
   "Gap to Nasdaq-100": "\u221261.9 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+23.2%",
   "S&P 500": "+83.6%",
   "Gap to S&P 500": "\u221260.4 pts",
   "Gap to Nasdaq-100": "\u221278.8 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of FMED is in S&P 500 companies?",
   "a": "By its holdings filed for May 31, 2026, 25% of FMED by weight is stocks the S&P 500 already holds. Its active share against the index is 97%, so that share is the part doing something different."
  },
  {
   "q": "What does FMED hold?",
   "a": "68 positions as filed for May 31, 2026, with the top ten at 32% of the fund. The largest are UCB SA at 4.8%, LIFESTANCE HEALTH GROUP INC at 4.3%, DANAHER CORP at 3.4%."
  },
  {
   "q": "Has FMED beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 FMED returned +24.6% with distributions reinvested, against +17.5% for the S&P 500, so it finished ahead of the index by 7.1 points."
  },
  {
   "q": "What does FMED cost?",
   "a": "The prospectus expense ratio is 0.50% a year. Because 97% of the fund differs from the S&P 500, the fee on that differing part works out at 0.51%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}