FDWM vs NBDS
Fidelity Womens Leadership ETF vs Neuberger Berman Disrupters ETF
Which is better, FDWM or NBDS?
Each has led over a different period.
NBDS has a lower expense ratio. FDWM led over 1Y, NBDS over the full window. FDWM is less concentrated, with 36.7% of the fund in its ten largest positions against 46.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FDWM | NBDS |
|---|---|---|
| Expense Ratio | 0.59% | 0.40%Best |
| AUM | $5M | $183M |
| Dividend Yield | 0.52% | 0.33% |
| Holdings | 82 | 32 |
| Volatility (annualized) | 17.1%Best | 22.4% |
| Max Drawdown | -21.3%Best | -29.8% |
| $10,000 over 3.6 years | $14,664 | $14,812Best |
| Top 10 Weight | 36.7%Best | 46.6% |
| Fund Family | Fidelity Investments (US) | Neuberger Berman |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 15, 2021 | Apr 6, 2022 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 335 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FDWM has data through Nov 13, 2025 and NBDS through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Apr 7, 2022 to Nov 13, 2025 (3.6 years).
Risk: Volatility and Drawdowns
NBDS has been the more volatile fund, with annualized monthly volatility of 22.4% compared with 17.1% for FDWM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -21.3% for FDWM and -29.8% for NBDS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FDWM charges 0.59% per year while NBDS charges 0.40%. On a $10,000 position that is $59 vs $40 annually, a gap of $19 per year that compounds over a long holding period. On income, FDWM currently yields 0.52% against 0.33% for NBDS.
Holdings Overlap
11.8% of FDWM's money is in holdings NBDS also owns. 10.2% of NBDS's money is in holdings FDWM also owns.
FDWM and NBDS share little of their money.
The two holdings books were reported 411 days apart, FDWM as of Jul 31, 2025 and NBDS as of Sep 15, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 86 positions we hold weights for in FDWM and 32 in NBDS, against full books of 82 and 32.
What only one of them owns
Our book lists 26 positions for NBDS that do not appear in our book for FDWM (73.5% of the fund), and 82 for FDWM that do not appear in NBDS (85.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of FDWM and NBDS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FDWM or NBDS?
FDWM has an expense ratio of 0.59% while NBDS charges 0.40%. NBDS is the cheaper option, by $19 a year on a $10,000 investment.
Which is riskier, FDWM or NBDS?
NBDS has been the more volatile fund at 22.4% annualized versus 17.1% for FDWM. Worst drawdown: FDWM -21.3% vs NBDS -29.8%.
Should I hold both FDWM and NBDS?
FDWM and NBDS have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FDWM and NBDS?
11.8% of FDWM's money is in holdings NBDS also owns. 10.2% of NBDS's is in holdings FDWM also owns. They hold 2 positions in common, counted across the 86 positions we hold weights for in FDWM and 32 in NBDS.
Which pays a higher dividend, FDWM or NBDS?
FDWM yields 0.52% while NBDS yields 0.33%, so FDWM currently pays the higher dividend yield.
Is NBDS better than FDWM?
NBDS has a lower expense ratio. FDWM led over 1Y, NBDS over the full window. FDWM is less concentrated, with 36.7% of the fund in its ten largest positions against 46.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.