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. Both ETFs have the same top 3 sector exposures: Information Technology, Industrials and Health Care. AFSM is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.28% for FESM. AFSM is up 15.09% year-to-date (YTD) with +$23M in YTD flows. FESM performs better with 21.86% YTD performance, and +$1.17B 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 06/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AFSM FESM | +0.06%+2.71% | +13.47%+19.55% | +15.09%+21.86% | +27.88%+47.18% | +58.49%n/a | +49.49%n/a |
| Flows | AFSM FESM | +$4M+$196M | +$4M+$576M | +$23M+$1.17B | +$49M+$2.27B | +$81M- | +$84M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AFSM FESM | +20.31%+21.81% | +17.93%+19.62% | +19.69%n/a | +21.17%n/a |
| Max drawdown | AFSM FESM | -4.73%-4.69% | -9.36%-10.11% | -24.90%n/a | -28.44%n/a |
| Max drawdown duration | AFSM FESM | 8d16d | 46d81d | 303dn/a | 815dn/a |
Trading data
AFSM | FESM | |
Last sale 6/12/2026 at 2:20 PM | $39.47 | $46.37 |
| Previous close 06/11/2026 | $38.96 | $45.87 |
| Consolidated volume 06/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 6/12/2026 at 2:20 PM
Live
Closed
AFSM | FESM | |
|---|---|---|
| Last price | $39.47 | $46.37 |
| 1D performance | +1.31% | +1.09% |
| AuM | $100.09 M | $5.40 B |
| E/R | 0.75% | 0.28% |
Characteristics
AFSM | FESM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | First Trust | Fidelity |
| Benchmark | - | - |
| N° of holdings | 286 | 569 |
| 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
81.06%
Other
18.94%
FESM
USA
91.39%
Other
8.61%
Sectors
AFSM
Information Techn.
17.27%
Industrials
17.09%
Health Care
16.61%
Financials
14.26%
Consumer Discreti.
8.45%
Other
26.31%
FESM
Information Techn.
18.26%
Industrials
17.82%
Health Care
14.44%
Financials
14.32%
Consumer Discreti.
7.02%
Other
28.14%
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Diversification
AFSM
Total weight of top 15 holdings out of 15
14.77%
FESM
Total weight of top 15 holdings out of 15
13.82%
Top 15 holdings
Data as of April 30, 2026
AFSM
TTM TECHNOLOGIES
1.77%
BLOOM ENERGY CORP
1.57%
VIAVI SOLUTIONS INC
1.19%
VICOR
1.11%
PERIMETER SOLUTIONS
1.00%
PHOTRONICS
0.97%
AMES NATIONAL
0.97%
NLIGHT INC
0.84%
CREDO TECHNOLOGY GROUP HOLDING
0.82%
NATIONAL HEALTHCARE
0.78%
AXCELIS TECHNOLOGIES
0.77%
INTERFACE
0.75%
SCORPIO TANKERS
0.75%
ENERSYS
0.75%
COMFORT SYSTEMS USA
0.75%
FESM
BLOOM ENERGY CORP
2.05%
CREDO TECHNOLOGY GROUP HOLDING
1.44%
FABRINET
1.27%
MAXLINEAR
1.02%
VICOR
0.84%
ENERSYS
0.80%
LUMEN TECHNOLOGIES INC
0.77%
COMMERCIAL METALS
0.75%
GUARDANT HEALTH INC
0.75%
STONEX GROUP INC
0.73%
KULICKE AND SOFFA INDUSTRIES
0.70%
RESIDEO TECHNOLOGIES
0.69%
HEALTHEQUITY I/D
0.68%
COEUR MINING INC
0.67%
CLEAR SECURE
0.66%
Frequently asked questions about AFSM and FESM
How have the AFSM and FESM ETFs performed in 2026?
As of June 10, 2026, AFSM is up 15.09% year-to-date (YTD), while FESM has returned 21.86%. 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 +$23M in flows, compared to +$1.17B for FESM.
Which ETF is more volatile: AFSM or FESM?
Over the past year, AFSM had a volatility of 17.93%, while FESM experienced 19.62%.
Which ETF is bigger: AFSM or FESM?
As of June 10, 2026, AFSM holds $100.09 M in assets under management (AUM), while FESM manages $5.40 B.
What sectors do the AFSM and FESM ETFs invest in?
AFSM leans toward sectors like Information Technology, Industrials and Health Care. Meanwhile, FESM focuses on Information Technology, Industrials and Health Care.
What are the top holdings of the AFSM ETF and FESM ETF?
AFSM top holdings include TTM TECHNOLOGIES, BLOOM ENERGY CORP and VIAVI SOLUTIONS INC. FESM holds in its top three: BLOOM ENERGY CORP, CREDO TECHNOLOGY GROUP HOLDING and FABRINET.
Which ETF is more diversified: AFSM or FESM?
AFSM holds 288 securities with 14.77% of its assets in the top 15. FESM has 644 securities and a top 15 weight of 13.82%.
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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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