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, Healthcare and Technology. FESM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.45% for FSML. FESM is up 23.42% year-to-date (YTD) with +$2.18B in YTD flows. FSML performs worse with 20.7% YTD performance, and +$130M 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 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FESM FSML | -3.76%-3.26% | +1.28%+1.37% | +23.42%+20.70% | +28.47%n/a | n/an/a | n/an/a |
| Flows | FESM FSML | +$333M+$1M | +$1.02B+$29M | +$2.18B+$130M | +$3.06B- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM FSML | +14.47%+15.68% | +18.85%n/a | n/an/a | n/an/a |
| Max drawdown | FESM FSML | -5.87%-5.11% | -10.11%n/a | n/an/a | n/an/a |
| Max drawdown duration | FESM FSML | 26d42d | 81dn/a | n/an/a | n/an/a |
Trading data
FESM | FSML | |
Last sale 9/11/2026 at 1:30 PM | $46.36 | $29.75 |
| Previous close 09/10/2026 | $46.00 | $29.57 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
FESM | FSML | |
|---|---|---|
| Last price | $46.36 | $29.75 |
| 1D performance | +0.78% | +0.63% |
| AuM | $6.45 B | $148.73 M |
| E/R | 0.28% | 0.45% |
Characteristics
FESM | FSML | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 780 | 298 |
| 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
96.2%
Other
3.8%
FSML
USA
93.66%
Other
6.34%
Sectors
FESM
Finance
22.75%
Healthcare
19.79%
Technology
17.72%
Industrials
11.76%
Other
27.98%
FSML
Finance
24.65%
Healthcare
20.16%
Technology
14.1%
Industrials
11.24%
Other
29.85%
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Diversification
FESM
Total weight of top 15 holdings out of 15
9.93%
FSML
Total weight of top 15 holdings out of 15
19.03%
Top 15 holdings
Data as of July 31, 2026
FESM
Commercial Metals Co.
0.78%
HealthEquity, Inc.
0.76%
Oscar Health, Inc.
0.74%
Installed Building Products, Inc.
0.71%
Phillips Edison & Co., Inc.
0.69%
Option Care Health, Inc.
0.65%
WesBanco, Inc.
0.64%
ACI Worldwide, Inc.
0.64%
Tutor Perini Corp.
0.63%
EnerSys
0.63%
OUTFRONT Media, Inc.
0.62%
Plexus Corp.
0.62%
SkyWest, Inc.
0.61%
Griffon Corp.
0.61%
Clear Secure, Inc.
0.60%
FSML
Oceaneering International, Inc.
1.53%
Jackson Financial, Inc.
1.41%
10X Genomics, Inc.
1.36%
TG Therapeutics, Inc.
1.31%
Korn Ferry
1.31%
Xenon Pharmaceuticals, Inc.
1.27%
Tutor Perini Corp.
1.25%
Polaris Inc.
1.25%
Krystal Biotech, Inc.
1.22%
Acadian Asset Management, Inc.
1.21%
Valley National Bancorp
1.20%
nLIGHT, Inc.
1.20%
Box, Inc.
1.18%
Core Natural Resources, Inc.
1.18%
Diebold Nixdorf, Inc.
1.16%
Frequently asked questions about FESM and FSML
How have the FESM and FSML ETFs performed in 2026?
As of September 11, 2026, FESM is up 23.42% year-to-date (YTD), while FSML has returned 20.7%. 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 +$2.18B in flows, compared to +$130M for FSML.
Which ETF is bigger: FESM or FSML?
As of September 11, 2026, FESM holds $6.45 B in assets under management (AUM), while FSML manages $148.73 M.
What sectors do the FESM and FSML ETFs invest in?
FESM leans toward sectors like Finance, Healthcare and Technology. Meanwhile, FSML focuses on Finance, Healthcare and Technology.
What are the top holdings of the FESM ETF and FSML ETF?
FESM top holdings include Commercial Metals Co., HealthEquity, Inc. and Oscar Health, Inc.. FSML holds in its top three: Oceaneering International, Inc., Jackson Financial, Inc. and 10X Genomics, Inc..
Which ETF is more diversified: FESM or FSML?
FESM holds 781 securities with 9.93% of its assets in the top 15. FSML has 298 securities and a top 15 weight of 19.03%.
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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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