FDWM vs TILT
Fidelity Womens Leadership ETF vs Northern Trust Morningstar US Market Factor Tilt ETF
Which is better, FDWM or TILT?
Nearly the same fund. TILT costs less.
TILT has a lower expense ratio. FDWM led over 1Y, TILT over the full window. The two have moved almost in lockstep, correlation 0.98. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 36.7%.
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 | TILT |
|---|---|---|
| Expense Ratio | 0.59% | 0.25%Best |
| AUM | $5M | $2.2B |
| Dividend Yield | 0.52% | 1.08% |
| Holdings | 82 | 1,929 |
| Volatility (annualized) | 17.3% | 16.7%Best |
| Max Drawdown | -29.1% | -24.1%Best |
| $10,000 over 4.4 years | $13,877 | $15,387Best |
| Top 10 Weight | 36.7% | 27.1%Best |
| Fund Family | Fidelity Investments (US) | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 15, 2021 | Sep 16, 2011 |
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 TILT through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Jun 17, 2021 to Nov 13, 2025 (4.4 years).
Risk: Volatility and Drawdowns
FDWM has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 16.7% for TILT. 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 -29.1% for FDWM and -24.1% for TILT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FDWM charges 0.59% per year while TILT charges 0.25%. On a $10,000 position that is $59 vs $25 annually, a gap of $34 per year that compounds over a long holding period. On income, FDWM currently yields 0.52% against 1.08% for TILT.
Holdings Overlap
93.2% of FDWM's money is in holdings TILT also owns. 30.2% of TILT's money is in holdings FDWM also owns.
Most of FDWM is already inside TILT. Owning both mostly buys the same companies twice.
The two holdings books were reported 427 days apart, FDWM as of Jul 31, 2025 and TILT as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
78 positions in common, counted across the 86 positions we hold weights for in FDWM and 1,904 in TILT, against full books of 82 and 1,929.
What only one of them owns
Our book lists 1,456 positions for TILT that do not appear in our book for FDWM (68.4% of the fund), and 5 for FDWM that do not appear in TILT (3.2%).
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.
Top Shared Holdings
| Stock | Weight in FDWM | Weight in TILT | Difference |
|---|---|---|---|
| NVDANVIDIA Corporation | 7.02% | 5.56% | 1.46% |
| MSFTMicrosoft Corp | 7.10% | 3.93% | 3.17% |
| AAPLApple, Inc | 5.91% | 4.98% | 0.93% |
| AMZNAmazon.Com Inc | 4.73% | 2.53% | 2.20% |
| GOOGAlphabet Inc Cl C | 3.70% | 1.64% | 2.06% |
| JPMJpmorgan Chase & Co | 2.12% | 1.13% | 0.99% |
| MUMicron Technology Inc . | 1.26% | 1.58% | 0.32% |
| LLYEli Lilly & Co. | 1.69% | 0.95% | 0.74% |
| GEVGe Vernova Inc Usd 0.01 | 1.54% | 0.27% | 1.27% |
| MAMastercard Inc. Cl A | 1.32% | 0.46% | 0.86% |
93.2% of FDWM is already inside TILT.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FDWM or TILT?
FDWM has an expense ratio of 0.59% while TILT charges 0.25%. TILT is the cheaper option, by $34 a year on a $10,000 investment.
Which is riskier, FDWM or TILT?
FDWM has been the more volatile fund at 17.3% annualized versus 16.7% for TILT. Worst drawdown: FDWM -29.1% vs TILT -24.1%.
Should I hold both FDWM and TILT?
FDWM and TILT have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FDWM and TILT?
93.2% of FDWM's money is in holdings TILT also owns. 30.2% of TILT's is in holdings FDWM also owns. They hold 78 positions in common, counted across the 86 positions we hold weights for in FDWM and 1,904 in TILT.
Which pays a higher dividend, FDWM or TILT?
FDWM yields 0.52% while TILT yields 1.08%, so TILT currently pays the higher dividend yield.
Is TILT better than FDWM?
TILT has a lower expense ratio. FDWM led over 1Y, TILT over the full window. The two have moved almost in lockstep, correlation 0.98. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 36.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.