AFSMvsFESMETF Comparison
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First Trust Active Factor Small Cap ETF (AFSM) belongs to the US Multi-Factor segment. Fidelity Enhanced Small Cap ETF (FESM) is part of the US Small Cap segment. AFSM's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, FESM's top sector exposures are Finance, Technology and Healthcare. AFSM is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.28% for FESM. AFSM is up 21.04% year-to-date (YTD) with +$37M in YTD flows. FESM performs better with 25.27% YTD performance, and +$1.67B in YTD flows. Run a side-by-side ETF comparison of AFSM and FESM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AFSM vs FESM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AFSM FESM | -0.12%-1.65% | +8.29%+10.04% | +21.04%+25.27% | +31.97%+43.28% | +57.49%n/a | +60.59%n/a |
| Flows | AFSM FESM | +$14M+$22M | +$21M+$744M | +$37M+$1.67B | +$60M+$2.70B | +$95M- | +$98M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AFSM FESM | +17.48%+18.54% | +17.97%+19.41% | +19.73%n/a | +21.09%n/a |
| Max drawdown | AFSM FESM | -4.08%-4.69% | -9.36%-10.11% | -24.90%n/a | -28.44%n/a |
| Max drawdown duration | AFSM FESM | 19d16d | 46d81d | 303dn/a | 815dn/a |
Trading data
AFSM | FESM | |
Last sale 7/28/2026 at 1:30 PM | $39.88 | $47.11 |
| Previous close 07/27/2026 | $39.86 | $47.07 |
| Consolidated volume 07/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/28/2026 at 1:30 PM
Live
Closed
AFSM | FESM | |
|---|---|---|
| Last price | $39.88 | $47.11 |
| 1D performance | +0.06% | +0.08% |
| AuM | $118.94 M | $6.04 B |
| E/R | 0.75% | 0.28% |
Characteristics
AFSM | FESM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | Fidelity |
| Benchmark | - | - |
| N° of holdings | 331 | 655 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2019 | November 20, 2023 |
| ESG | No | No |
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Exposure
Countries
AFSM
USA
90.5%
Other
9.5%
FESM
USA
96.65%
Other
3.35%
Sectors
AFSM
Technology
20.19%
Finance
19.34%
Healthcare
18.63%
Industrials
10.53%
Consumer Non-Cycl.
7.31%
Other
24%
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
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Diversification
AFSM
Total weight of top 15 holdings out of 15
11.65%
FESM
Total weight of top 15 holdings out of 15
11.5%
Top 15 holdings
Data as of June 30, 2026
AFSM
Blue Bird Corp.
0.94%
National HealthCare Corp.
0.94%
Penguin Solutions, Inc.
0.91%
Kulicke & Soffa Industries, Inc.
0.87%
Par Pacific Holdings, Inc.
0.80%
Ames National Corp.
0.78%
Matson, Inc.
0.77%
Sphere Entertainment Co.
0.74%
Liquidia Corp.
0.74%
TrustCo Bank Corp. NY
0.71%
Axcelis Technologies, Inc.
0.70%
Carpenter Technology Corp.
0.69%
Bloom Energy Corp.
0.69%
Lincoln Educational Services Corp.
0.69%
Bel Fuse, Inc.
0.68%
FESM
Guardant Health, Inc.
1.19%
ACM Research, Inc.
0.82%
Kulicke & Soffa Industries, Inc.
0.80%
MaxLinear, Inc.
0.79%
Kodiak Gas Services, Inc.
0.79%
EnerSys
0.76%
StoneX Group, Inc.
0.76%
Plexus Corp.
0.75%
Commercial Metals Co.
0.72%
Extreme Networks, Inc.
0.70%
HealthEquity, Inc.
0.70%
Tenable Holdings, Inc.
0.69%
Axsome Therapeutics, Inc.
0.68%
Lumen Technologies, Inc. (Louisiana)
0.68%
Glacier Bancorp, Inc.
0.67%
Frequently asked questions about AFSM and FESM
How have the AFSM and FESM ETFs performed in 2026?
As of July 24, 2026, AFSM is up 21.04% year-to-date (YTD), while FESM has returned 25.27%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: AFSM or FESM?
Year-to-date, the AFSM ETF saw +$37M in flows, compared to +$1.67B for FESM.
Which ETF is more volatile: AFSM or FESM?
Over the past year, AFSM had a volatility of 17.97%, while FESM experienced 19.41%.
Which ETF is bigger: AFSM or FESM?
As of July 24, 2026, AFSM holds $118.94 M in assets under management (AUM), while FESM manages $6.04 B.
What sectors do the AFSM and FESM ETFs invest in?
AFSM leans toward sectors like Technology, Finance and Healthcare. Meanwhile, FESM focuses on Finance, Technology and Healthcare.
What are the top holdings of the AFSM ETF and FESM ETF?
AFSM top holdings include Blue Bird Corp., National HealthCare Corp. and Penguin Solutions, Inc.. FESM holds in its top three: Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc..
Which ETF is more diversified: AFSM or FESM?
AFSM holds 332 securities with 11.65% of its assets in the top 15. FESM has 656 securities and a top 15 weight of 11.5%.
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Latest news about AFSM & FESM
Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs
February 16, 2024
FESM
Fidelity Continues Trend of Mutual Fund Conversions to ETFs
November 27, 2023
FESM
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