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FDLSvsMSSMETF Comparison

ETF 1

FDLS

Inspire Fidelis Multi Factor ETF

This fund is part of

US Multi-Factor

+0.52%

Full FDLS fund page

VS

ETF 2

MSSM

Morgan Stanley Pathway Small-Mid Cap Equity ETF

This fund is part of

US Multi-Factor

+0.52%

Full MSSM fund page

Inspire Fidelis Multi Factor ETF (FDLS) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. FDLS's top 3 sector exposures are Information Technology, Financials and Industrials. In contrast, MSSM's top sector exposures are Industrials, Information Technology and Financials. FDLS is less expensive with a Total Expense Ratio (TER) of 0.69%, versus 0.9% for MSSM. FDLS is up 13.89% year-to-date (YTD) with +$44M in YTD flows. MSSM performs worse with 12.8% YTD performance, and -$41M in YTD flows. Run a side-by-side ETF comparison of FDLS and MSSM 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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FDLS vs MSSM performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/24/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FDLS MSSM	+9.54%+9.91%	+6.58%+5.26%	+13.89%+12.80%	+49.93%+40.13%	+78.95%n/a	n/an/a
Flows	FDLS MSSM	+$8M-$35M	+$35M-$33M	+$44M-$41M	+$74M-$32M	+$88M-	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FDLS MSSM	+19.48%+20.29%	+16.50%+17.35%	+18.44%n/a	n/an/a
Max drawdown	FDLS MSSM	-9.10%-9.62%	-9.10%-9.62%	-23.13%n/a	n/an/a
Max drawdown duration	FDLS MSSM	46d46d	46d46d	219dn/a	n/an/a

Trading data

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	FDLS	MSSM
Last sale 4/27/2026 at 2:37 PM	$40.59	$56.97
Previous close 04/24/2026	$40.60	$56.96
Consolidated volume 04/24/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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MSSM

is actively managed and doesn’t replicate an index

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	FDLS	MSSM
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/27/2026 at 2:37 PM

Live

Closed

	FDLS	MSSM
Last price	$40.59	$56.97
1D performance	-0.02%	+0.01%
AuM	$188.74 M	$724.19 M
E/R	0.69%	0.9%

Characteristics

	FDLS	MSSM
Management strategy	Passive	Active
Provider	Inspire ETFs	Morgan Stanley
Benchmark	WI Fidelis Multi-Cap, Multi-Factor Index	-
N° of holdings	88	1902
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	August 23, 2022	December 9, 2024
ESG	No	No

More FDLS data on Trackinsight

More MSSM data on Trackinsight

Exposure

Countries

FDLS

USA

72.45%

Other

27.55%

MSSM

USA

79.68%

Other

20.32%

Sectors

FDLS

Information Techn.

19.77%

Financials

14.11%

Industrials

14.06%

Health Care

9.92%

Energy

9.12%

Other

33.03%

MSSM

Industrials

19.29%

Information Techn.

17.22%

Financials

11.21%

Health Care

9.3%

Consumer Discreti.

7.76%

Other

35.23%

Diversification

FDLS

Total weight of top 15 holdings out of 15

16.06%

MSSM

Total weight of top 15 holdings out of 15

10.47%

Top 15 holdings

Data as of March 31, 2026

FDLS

PHOTRONICS

1.15%

ARCBEST CORP

1.10%

TUTOR PERINI

1.08%

IRONWOOD PHARMA

1.08%

MISSION PRODUCE

1.08%

ADTRAN HOLDINGS INC

1.07%

OCCIDENTAL U

1.07%

NEWMONT CORP

1.06%

CIRRUS LOGIC

1.06%

PERDOCEO EDUCATION CORPORATION

1.06%

CONSOLIDATED WATER

1.05%

MOELIS

1.05%

PAR PACIFIC HOLDINGS INC

1.05%

US71424F1057

1.05%

RIGEL PHARMACEUTICALS

1.04%

MSSM

COMFORT SYSTEMS USA

1.13%

TECHNIPFMC PLC

1.07%

US04351P1012

1.03%

CIENA

0.86%

VIASAT

0.80%

BLOOM ENERGY CORP

0.73%

ORMAT TECHNOLOGIES

0.59%

PLEXUS

0.57%

RESIDEO TECHNOLOGIES

0.56%

REGAL REXNORD CORP

0.55%

FABRINET

0.54%

TEXAS CAPITAL

0.54%

ITT

0.52%

CALIX NETWORKS

0.51%

PRIMORIS SERVICES

0.48%

Frequently asked questions about FDLS and MSSM

How have the FDLS and MSSM ETFs performed in 2026?

As of April 24, 2026, FDLS is up 13.89% year-to-date (YTD), while MSSM has returned 12.8%. That puts FDLS better performer ahead so far this year.

Which ETF is attracting more investor money: FDLS or MSSM?

Year-to-date, the FDLS ETF saw +$44M in flows, compared to -$41M for MSSM.

Which ETF is more volatile: FDLS or MSSM?

Over the past year, FDLS had a volatility of 16.5%, while MSSM experienced 17.35%.

Which ETF is bigger: FDLS or MSSM?

As of April 24, 2026, FDLS holds $188.74 M in assets under management (AUM), while MSSM manages $724.19 M.

What sectors do the FDLS and MSSM ETFs invest in?

FDLS leans toward sectors like Information Technology, Financials and Industrials. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.

What are the top holdings of the FDLS ETF and MSSM ETF?

FDLS top holdings include PHOTRONICS, ARCBEST CORP and TUTOR PERINI. MSSM holds in its top three: COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012.

FDLSvsMSSMETF Comparison

Inspire Fidelis Multi Factor ETF

Morgan Stanley Pathway Small-Mid Cap Equity ETF

FDLS vs MSSM performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FDLS and MSSM ETFs performed in 2026?

As of April 24, 2026, FDLS is up 13.89% year-to-date (YTD), while MSSM has returned 12.8%. That puts FDLS better performer ahead so far this year.

Which ETF is attracting more investor money: FDLS or MSSM?

Year-to-date, the FDLS ETF saw +$44M in flows, compared to -$41M for MSSM.

Which ETF is more volatile: FDLS or MSSM?

Over the past year, FDLS had a volatility of 16.5%, while MSSM experienced 17.35%.

Which ETF is bigger: FDLS or MSSM?

As of April 24, 2026, FDLS holds $188.74 M in assets under management (AUM), while MSSM manages $724.19 M.

What sectors do the FDLS and MSSM ETFs invest in?

FDLS leans toward sectors like Information Technology, Financials and Industrials. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.

What are the top holdings of the FDLS ETF and MSSM ETF?

FDLS top holdings include PHOTRONICS, ARCBEST CORP and TUTOR PERINI. MSSM holds in its top three: COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012.

Which ETF is more diversified: FDLS or MSSM?

FDLS holds 89 securities with 16.06% of its assets in the top 15. MSSM has 1949 securities and a top 15 weight of 10.47%.

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