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FDLSvsMSSMETF Comparison

ETF 1

FDLS

Inspire Fidelis Multi Factor ETF

This fund is part of

US Multi-Factor

-0.05%

Full FDLS fund page

VS

ETF 2

MSSM

Morgan Stanley Pathway Small-Mid Cap Equity ETF

This fund is part of

US Multi-Factor

-0.05%

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 Technology, Finance and Healthcare. In contrast, MSSM's top sector exposures are Finance, Technology and Healthcare. FDLS is less expensive with a Total Expense Ratio (TER) of 0.66%, versus 0.89% for MSSM. FDLS is up 15.02% year-to-date (YTD) with +$107M in YTD flows. MSSM performs better with 15.09% YTD performance, and -$79M 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 11/02/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FDLS MSSM	-3.02%+0.90%	-4.23%-3.31%	+15.02%+15.09%	+18.17%+16.79%	+73.69%n/a	n/an/a
Flows	FDLS MSSM	+$10M-	+$31M+$6M	+$107M-$79M	+$121M-$64M	+$142M-	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FDLS MSSM	+12.35%+12.83%	+16.03%+17.06%	+18.12%n/a	n/an/a
Max drawdown	FDLS MSSM	-6.97%-9.43%	-9.10%-9.62%	-23.13%n/a	n/an/a
Max drawdown duration	FDLS MSSM	77d78d	46d46d	219dn/a	n/an/a

Trading data

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	FDLS	MSSM
Last sale 11/2/2026 at 2:30 PM	$40.85	$58.12
Previous close 11/02/2026	$41.22	$57.94
Consolidated volume 11/02/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 30, 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 11/2/2026 at 2:30 PM

Live

Closed

	FDLS	MSSM
Last price	$40.85	$58.12
1D performance	-0.89%	+0.32%
AuM	$252.13 M	$701.05 M
E/R	0.66%	0.89%

Characteristics

	FDLS	MSSM
Management strategy	Passive	Active
Provider	Inspire ETFs	Morgan Stanley
Benchmark	WI Fidelis Multi-Cap, Multi-Factor Index	-
N° of holdings	101	1803
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

86.09%

Other

13.91%

MSSM

USA

90.9%

Other

9.1%

Sectors

FDLS

Technology

20.22%

Finance

18.6%

Healthcare

14.9%

Industrials

13.25%

Energy

10.49%

Other

22.54%

MSSM

Finance

20%

Technology

17.18%

Healthcare

16.01%

Industrials

13.61%

Other

33.2%

Diversification

FDLS

Total weight of top 15 holdings out of 15

16.73%

MSSM

Total weight of top 15 holdings out of 15

8.64%

Top 15 holdings

Data as of September 30, 2026

FDLS

Viavi Solutions, Inc.

1.23%

Sandisk Corp.

1.18%

Teradyne, Inc.

1.17%

Entegris, Inc.

1.17%

MKS, Inc.

1.13%

Sanmina Corp.

1.13%

Microchip Technology, Inc.

1.12%

Flexsteel Industries, Inc.

1.08%

Victory Capital Holdings, Inc.

1.08%

Arrow Electronics, Inc.

1.08%

MYR Group, Inc.

1.08%

nVent Electric Plc

1.07%

KE Holdings, Inc.

1.07%

EnerSys

1.07%

Centuri Holdings, Inc.

1.07%

MSSM

Dynatrace, Inc.

0.90%

Ascendis Pharma A/S

0.72%

ViaSat, Inc.

0.69%

Veeco Instruments, Inc.

0.63%

KBR, Inc.

0.62%

Rambus, Inc.

0.54%

Haemonetics Corp.

0.53%

TechnipFMC plc

0.52%

Plexus Corp.

0.52%

Avient Corp.

0.50%

Brinker International, Inc.

0.50%

Moderna, Inc.

0.50%

ITT, Inc.

0.50%

Regal Rexnord Corp.

0.49%

Varonis Systems, Inc.

0.49%

Frequently asked questions about FDLS and MSSM

How have the FDLS and MSSM ETFs performed in 2026?

As of November 2, 2026, FDLS is up 15.02% year-to-date (YTD), while MSSM has returned 15.09%. That puts MSSM better performer ahead so far this year.

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

Year-to-date, the FDLS ETF saw +$107M in flows, compared to -$79M for MSSM.

Which ETF is more volatile: FDLS or MSSM?

Over the past year, FDLS had a volatility of 16.03%, while MSSM experienced 17.06%.

Which ETF is bigger: FDLS or MSSM?

As of November 2, 2026, FDLS holds $252.13 M in assets under management (AUM), while MSSM manages $701.05 M.

What sectors do the FDLS and MSSM ETFs invest in?

FDLS leans toward sectors like Technology, Finance and Healthcare. Meanwhile, MSSM focuses on Finance, Technology and Healthcare.

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

FDLS top holdings include Viavi Solutions, Inc., Sandisk Corp. and Teradyne, Inc.. MSSM holds in its top three: Dynatrace, Inc., Ascendis Pharma A/S and ViaSat, Inc..

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 November 2, 2026, FDLS is up 15.02% year-to-date (YTD), while MSSM has returned 15.09%. That puts MSSM better performer ahead so far this year.

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

Year-to-date, the FDLS ETF saw +$107M in flows, compared to -$79M for MSSM.

Which ETF is more volatile: FDLS or MSSM?

Over the past year, FDLS had a volatility of 16.03%, while MSSM experienced 17.06%.

Which ETF is bigger: FDLS or MSSM?

As of November 2, 2026, FDLS holds $252.13 M in assets under management (AUM), while MSSM manages $701.05 M.

What sectors do the FDLS and MSSM ETFs invest in?

FDLS leans toward sectors like Technology, Finance and Healthcare. Meanwhile, MSSM focuses on Finance, Technology and Healthcare.

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

FDLS top holdings include Viavi Solutions, Inc., Sandisk Corp. and Teradyne, Inc.. MSSM holds in its top three: Dynatrace, Inc., Ascendis Pharma A/S and ViaSat, Inc..

Which ETF is more diversified: FDLS or MSSM?

FDLS holds 101 securities with 16.73% of its assets in the top 15. MSSM has 1817 securities and a top 15 weight of 8.64%.

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