FESMvsITWOETF Comparison
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Fidelity Enhanced Small Cap ETF (FESM) belongs to the US Small Cap segment. ProShares Russell 2000 High Income ETF (ITWO) is part of the Options Strategies segment. FESM's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, ITWO's top sector exposures are Finance, Healthcare and Technology. FESM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.55% for ITWO. FESM is up 24.34% year-to-date (YTD) with +$1.64B in YTD flows. ITWO performs worse with 19.97% YTD performance, and +$73M in YTD flows. Run a side-by-side ETF comparison of FESM and ITWO 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 ITWO 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 ITWO | -0.98%-1.65% | +9.06%+6.07% | +24.34%+19.97% | +43.22%+31.08% | n/an/a | n/an/a |
| Flows | FESM ITWO | +$422M+$8M | +$720M+$14M | +$1.64B+$73M | +$2.67B+$116M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM ITWO | +18.51%+18.30% | +19.37%+18.44% | n/an/a | n/an/a |
| Max drawdown | FESM ITWO | -4.69%-4.67% | -10.11%-9.74% | n/an/a | n/an/a |
| Max drawdown duration | FESM ITWO | 16d16d | 81d81d | n/an/a | n/an/a |
Trading data
FESM | ITWO | |
Last sale 7/27/2026 at 1:30 PM | $47.07 | $45.64 |
| Previous close 07/24/2026 | $46.72 | $45.34 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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FESM
is actively managed and doesn’t replicate an indexFESM | ITWO | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
FESM | ITWO | |
|---|---|---|
| Last price | $47.07 | $45.64 |
| 1D performance | +0.75% | +0.66% |
| AuM | $5.96 B | $196.95 M |
| E/R | 0.28% | 0.55% |
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Exposure
Countries
FESM
USA
96.65%
Other
3.35%
ITWO
USA
79.77%
Other
20.23%
Sectors
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
ITWO
Finance
19.62%
Healthcare
14.67%
Technology
14.21%
Industrials
13.15%
Other
38.35%
Diversification
FESM
Total weight of top 15 holdings out of 15
11.5%
ITWO
Total weight of top 15 holdings out of 15
8.3%
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%
ITWO
Bloom Energy Corp.
1.76%
Credo Technology Group Holding Ltd.
1.07%
Sterling Infrastructure, Inc.
0.64%
TTM Technologies, Inc.
0.53%
Fabrinet
0.50%
IonQ, Inc.
0.46%
Nextpower, Inc.
0.42%
Guardant Health, Inc.
0.42%
Coeur Mining, Inc.
0.39%
SiTime Corp.
0.38%
Semtech Corp.
0.36%
Modine Manufacturing Co.
0.36%
Dycom Industries, Inc.
0.35%
Advanced Energy Industries, Inc.
0.33%
EchoStar Corp.
0.33%
Frequently asked questions about FESM and ITWO
How have the FESM and ITWO ETFs performed in 2026?
As of July 24, 2026, FESM is up 24.34% year-to-date (YTD), while ITWO has returned 19.97%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FESM or ITWO?
Year-to-date, the FESM ETF saw +$1.64B in flows, compared to +$73M for ITWO.
Which ETF is more volatile: FESM or ITWO?
Over the past year, FESM had a volatility of 19.37%, while ITWO experienced 18.44%.
Which ETF is bigger: FESM or ITWO?
As of July 24, 2026, FESM holds $5.96 B in assets under management (AUM), while ITWO manages $196.95 M.
What sectors do the FESM and ITWO ETFs invest in?
FESM leans toward sectors like Finance, Technology and Healthcare. Meanwhile, ITWO focuses on Finance, Healthcare and Technology.
What are the top holdings of the FESM ETF and ITWO ETF?
FESM top holdings include Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc.. ITWO holds in its top three: Bloom Energy Corp., Credo Technology Group Holding Ltd. and Sterling Infrastructure, Inc..
Which ETF is more diversified: FESM or ITWO?
FESM holds 656 securities with 11.5% of its assets in the top 15. ITWO has 1866 securities and a top 15 weight of 8.3%.
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Latest news about FESM & ITWO
Notable ETF Filings and Launches Recap: September 2024
September 26, 2024
ITWO
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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