FESMvsFSMLETF Comparison
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Fidelity Enhanced Small Cap ETF (FESM) belongs to the US Small Cap segment. Franklin Small Cap Enhanced ETF (FSML) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Finance, Technology and Healthcare. FESM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.45% for FSML. FESM is up 24.34% year-to-date (YTD) with +$1.64B in YTD flows. FSML performs worse with 21.04% YTD performance, and +$128M in YTD flows. Run a side-by-side ETF comparison of FESM and FSML 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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FESM vs FSML performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FESM FSML | -0.98%-0.68% | +9.06%+7.26% | +24.34%+21.04% | +43.22%n/a | n/an/a | n/an/a |
| Flows | FESM FSML | +$422M+$27M | +$720M+$13M | +$1.64B+$128M | +$2.67B- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM FSML | +18.51%+19.52% | +19.37%n/a | n/an/a | n/an/a |
| Max drawdown | FESM FSML | -4.69%-4.91% | -10.11%n/a | n/an/a | n/an/a |
| Max drawdown duration | FESM FSML | 16d16d | 81dn/a | n/an/a | n/an/a |
Trading data
FESM | FSML | |
Last sale 7/24/2026 at 1:30 PM | $46.72 | $29.82 |
| Previous close 07/23/2026 | $46.78 | $29.85 |
| Consolidated volume 07/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/24/2026 at 1:30 PM
Live
Closed
FESM | FSML | |
|---|---|---|
| Last price | $46.72 | $29.82 |
| 1D performance | -0.13% | -0.10% |
| AuM | $5.96 B | $147.66 M |
| E/R | 0.28% | 0.45% |
Characteristics
FESM | FSML | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 655 | 300 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 20, 2023 | December 9, 2025 |
| ESG | No | No |
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Exposure
Countries
FESM
USA
96.65%
Other
3.35%
FSML
USA
93.61%
Other
6.39%
Sectors
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
FSML
Finance
21.15%
Technology
20.07%
Healthcare
18.32%
Industrials
14.44%
Other
26.03%
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Diversification
FESM
Total weight of top 15 holdings out of 15
11.5%
FSML
Total weight of top 15 holdings out of 15
21.44%
Top 15 holdings
Data as of June 30, 2026
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%
FSML
Bloom Energy Corp.
2.35%
Guardant Health, Inc.
1.94%
10X Genomics, Inc.
1.63%
GeneDx Holdings Corp.
1.60%
Vishay Intertechnology, Inc.
1.51%
Credo Technology Group Holding Ltd.
1.37%
Vicor Corp.
1.30%
Kulicke & Soffa Industries, Inc.
1.28%
BridgeBio Pharma, Inc.
1.28%
Axsome Therapeutics, Inc.
1.25%
Valley National Bancorp
1.22%
FormFactor, Inc.
1.22%
SiTime Corp.
1.20%
Dave, Inc.
1.17%
IES Holdings, Inc.
1.13%
Frequently asked questions about FESM and FSML
How have the FESM and FSML ETFs performed in 2026?
As of July 24, 2026, FESM is up 24.34% year-to-date (YTD), while FSML has returned 21.04%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FESM or FSML?
Year-to-date, the FESM ETF saw +$1.64B in flows, compared to +$128M for FSML.
Which ETF is bigger: FESM or FSML?
As of July 24, 2026, FESM holds $5.96 B in assets under management (AUM), while FSML manages $147.66 M.
What sectors do the FESM and FSML ETFs invest in?
FESM leans toward sectors like Finance, Technology and Healthcare. Meanwhile, FSML focuses on Finance, Technology and Healthcare.
What are the top holdings of the FESM ETF and FSML ETF?
FESM top holdings include Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc.. FSML holds in its top three: Bloom Energy Corp., Guardant Health, Inc. and 10X Genomics, Inc..
Which ETF is more diversified: FESM or FSML?
FESM holds 656 securities with 11.5% of its assets in the top 15. FSML has 301 securities and a top 15 weight of 21.44%.
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Latest news about FESM & FSML
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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