FMDE vs PJFM
Fidelity Enhanced Mid Cap Core ETF vs PGIM Jennison Focused Mid-Cap ETF
Which is better, FMDE or PJFM?
FMDE has been ahead.
FMDE has a lower expense ratio. FMDE led over 1Y and the full window. FMDE is less concentrated, with 9.4% of the fund in its ten largest positions against 31.4%.
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 | FMDE | PJFM |
|---|---|---|
| Expense Ratio | 0.23%Best | 0.49% |
| AUM | $8.1B | $20M |
| Dividend Yield | 1.07% | 0.60% |
| Holdings | 486 | 105 |
| YTD Return | +12.82%Best | +2.69% |
| 1Y Return | +16.39%Best | +7.66% |
| 3Y Return (annualized) | +19.84% | - |
| Volatility (annualized) | 12.9%Best | 15.2% |
| Max Drawdown | -21.1%Best | -22.8% |
| $10,000 over 2.8 years | $15,410Best | $12,683 |
| Top 10 Weight | 9.4%Best | 31.4% |
| Fund Family | Fidelity Investments (US) | PGIM Investments |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Nov 20, 2023 | Dec 14, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Dec 19, 2023 to Oct 14, 2026 (2.8 years).
FMDE vs PJFM growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.8 years both funds cover.
FMDE vs PJFM Performance
Fidelity Enhanced Mid Cap Core ETF (FMDE) is an ETF from Fidelity Investments (US) and PGIM Jennison Focused Mid-Cap ETF (PJFM) is an ETF from PGIM Investments. Over the past year FMDE returned +16.39% while PJFM returned +7.66%. Year to date, FMDE is up 12.82% versus a gain of 2.69% for PJFM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PJFM has been the more volatile fund, with annualized monthly volatility of 15.2% compared with 12.9% for FMDE. 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 -21.1% for FMDE and -22.8% for PJFM. 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
FMDE charges 0.23% per year while PJFM charges 0.49%. On a $10,000 position that is $23 vs $49 annually, a gap of $26 per year that compounds over a long holding period. On income, FMDE currently yields 1.07% against 0.60% for PJFM.
Holdings Overlap
6.3% of FMDE's money is in holdings PJFM also owns. 56.4% of PJFM's money is in holdings FMDE also owns.
The two portfolios partly overlap.
27 positions in common, counted across the 482 positions we hold weights for in FMDE and 49 in PJFM, against full books of 486 and 105.
What only one of them owns
Our book lists 17 positions for PJFM that do not appear in our book for FMDE (30.1% of the fund), and 377 for FMDE that do not appear in PJFM (89.0%).
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 FMDE | Weight in PJFM | Difference |
|---|---|---|---|
| NINisource Inc. | 0.16% | 4.15% | 3.99% |
| KEYSKeysight Technologies Inc. | 0.94% | 3.05% | 2.11% |
| MKLMarkel Group Inc | 0.01% | 3.90% | 3.89% |
| GLPIGaming And Leisure Properties Inc | 0.51% | 2.77% | 2.26% |
| WCCWesco International Inc | 0.66% | 2.25% | 1.59% |
| MCHPMicrochip Technology Inc. | 0.10% | 2.70% | 2.60% |
| ARMKAramark Holdings | 0.08% | 2.72% | 2.64% |
| GTESGates Industrial Corporation Plc Ordinary Shares | 0.46% | 2.30% | 1.84% |
| LITELumentum Holdings Inc | 0.33% | 2.41% | 2.08% |
| PRPermian Resource | 0.00% | 2.54% | 2.54% |
56.4% of PJFM is already inside FMDE.
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, FMDE or PJFM?
FMDE has an expense ratio of 0.23% while PJFM charges 0.49%. FMDE is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, FMDE or PJFM?
Over the past year FMDE returned +16.39% vs +7.66% for PJFM, so FMDE leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FMDE or PJFM?
PJFM has been the more volatile fund at 15.2% annualized versus 12.9% for FMDE. Worst drawdown: FMDE -21.1% vs PJFM -22.8%.
Should I hold both FMDE and PJFM?
FMDE and PJFM 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 FMDE and PJFM?
56.4% of PJFM's money is in holdings FMDE also owns. 56.4% of PJFM's is in holdings FMDE also owns. They hold 27 positions in common, counted across the 482 positions we hold weights for in FMDE and 49 in PJFM.
Which pays a higher dividend, FMDE or PJFM?
FMDE yields 1.07% while PJFM yields 0.60%, so FMDE currently pays the higher dividend yield.
Is PJFM better than FMDE?
FMDE has a lower expense ratio. FMDE led over 1Y and the full window. FMDE is less concentrated, with 9.4% of the fund in its ten largest positions against 31.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.