FDWM vs TSPA
Fidelity Womens Leadership ETF vs T Rowe Price US Equity Research ETF
Which is better, FDWM or TSPA?
Nearly the same fund. TSPA costs less.
TSPA has a lower expense ratio. FDWM led over 1Y, TSPA over the full window. The two have moved almost in lockstep, correlation 0.96. FDWM is less concentrated, with 36.7% of the fund in its ten largest positions against 38.1%.
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 | TSPA |
|---|---|---|
| Expense Ratio | 0.59% | 0.34%Best |
| AUM | $5M | $4.7B |
| Dividend Yield | 0.52% | 0.55% |
| Holdings | 82 | 330 |
| Volatility (annualized) | 17.3% | 15.9%Best |
| Max Drawdown | -29.1% | -24.7%Best |
| $10,000 over 4.4 years | $13,877 | $17,249Best |
| Top 10 Weight | 36.7%Best | 38.1% |
| Fund Family | Fidelity Investments (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 15, 2021 | Jun 8, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 336 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 TSPA through Oct 15, 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 15.9% for TSPA. 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 -24.7% for TSPA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. 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 TSPA charges 0.34%. On a $10,000 position that is $59 vs $34 annually, a gap of $25 per year that compounds over a long holding period. On income, FDWM currently yields 0.52% against 0.55% for TSPA.
Holdings Overlap
69.8% of FDWM's money is in holdings TSPA also owns. 43.8% of TSPA's money is in holdings FDWM also owns.
The two portfolios partly overlap.
The two holdings books were reported 396 days apart, FDWM as of Jul 31, 2025 and TSPA as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
47 positions in common, counted across the 86 positions we hold weights for in FDWM and 326 in TSPA, against full books of 82 and 330.
What only one of them owns
Our book lists 267 positions for TSPA that do not appear in our book for FDWM (54.7% of the fund), and 36 for FDWM that do not appear in TSPA (27.3%).
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.
Top Shared Holdings
| Stock | Weight in FDWM | Weight in TSPA | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.02% | 8.18% | 1.16% |
| MSFTMicrosoft Corp | 7.10% | 5.76% | 1.34% |
| AAPLApple, Inc | 5.91% | 6.74% | 0.83% |
| AMZNAmazon.Com Inc | 4.73% | 3.93% | 0.80% |
| GOOGAlphabet Inc. C | 3.70% | 3.15% | 0.55% |
| JPMJpmorgan Chase | 2.12% | 1.41% | 0.71% |
| LLYEli Lilly & Co. | 1.69% | 1.43% | 0.26% |
| MUMicron Technology, Inc. | 1.26% | 1.68% | 0.42% |
| MAMastercard Inc | 1.32% | 1.14% | 0.18% |
| BACBank of America Corp.: Financials | 1.30% | 0.58% | 0.72% |
69.8% of FDWM is already inside TSPA.
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 TSPA?
FDWM has an expense ratio of 0.59% while TSPA charges 0.34%. TSPA is the cheaper option, by $25 a year on a $10,000 investment.
Which is riskier, FDWM or TSPA?
FDWM has been the more volatile fund at 17.3% annualized versus 15.9% for TSPA. Worst drawdown: FDWM -29.1% vs TSPA -24.7%.
Should I hold both FDWM and TSPA?
FDWM and TSPA have a monthly-return correlation of 0.96, 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 TSPA?
69.8% of FDWM's money is in holdings TSPA also owns. 43.8% of TSPA's is in holdings FDWM also owns. They hold 47 positions in common, counted across the 86 positions we hold weights for in FDWM and 326 in TSPA.
Which pays a higher dividend, FDWM or TSPA?
FDWM yields 0.52% while TSPA yields 0.55%, so TSPA currently pays the higher dividend yield.
Is TSPA better than FDWM?
TSPA has a lower expense ratio. FDWM led over 1Y, TSPA over the full window. The two have moved almost in lockstep, correlation 0.96. FDWM is less concentrated, with 36.7% of the fund in its ten largest positions against 38.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.