FESMvsIWMETF Comparison
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Fidelity Enhanced Small Cap ETF (FESM) and iShares Russell 2000 ETF (IWM) belong to the same industry segment: US Small Cap. Both ETFs have the same top 3 sector exposures: Finance, Healthcare and Technology. FESM is more expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.19% for IWM. FESM is up 25.29% year-to-date (YTD) with +$2.14B in YTD flows. IWM performs worse with 20.11% YTD performance, and -$7.28B in YTD flows. Run a side-by-side ETF comparison of FESM and IWM 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 IWM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FESM IWM | -2.19%-1.79% | +5.72%+3.94% | +25.29%+20.11% | +32.02%+24.98% | n/a+65.90% | n/a+40.13% |
| Flows | FESM IWM | +$296M+$311M | +$1.00B-$908M | +$2.14B-$7.28B | +$3.01B-$2.74B | --$2.35B | --$5.33B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM IWM | +15.49%+14.88% | +18.86%+18.90% | n/a+21.24% | n/a+22.50% |
| Max drawdown | FESM IWM | -4.74%-4.76% | -10.11%-11.03% | n/a-27.52% | n/a-31.96% |
| Max drawdown duration | FESM IWM | 23d23d | 81d82d | n/a289d | n/a1093d |
Trading data
FESM | IWM | |
Last sale 9/9/2026 at 1:30 PM | $46.55 | $290.64 |
| Previous close 09/08/2026 | $47.09 | $294.67 |
| Consolidated volume 09/08/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FESM
is actively managed and doesn’t replicate an indexFESM | IWM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/9/2026 at 1:30 PM
Live
Closed
FESM | IWM | |
|---|---|---|
| Last price | $46.55 | $290.64 |
| 1D performance | -1.15% | -1.37% |
| AuM | $6.51 B | $79.99 B |
| E/R | 0.28% | 0.19% |
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Exposure
Countries
FESM
USA
96.2%
Other
3.8%
IWM
USA
95.53%
Other
4.47%
Sectors
FESM
Finance
22.75%
Healthcare
19.79%
Technology
17.72%
Industrials
11.76%
Other
27.98%
IWM
Finance
26.78%
Healthcare
20.22%
Technology
11.82%
Industrials
10.54%
Other
30.64%
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Diversification
FESM
Total weight of top 15 holdings out of 15
9.93%
IWM
Total weight of top 15 holdings out of 15
4.93%
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%
IWM
BlackRock Cash Funds - Treasury
0.46%
Moog, Inc.
0.39%
BrightSpring Health Services, Inc.
0.38%
Hut 8 Corp.
0.36%
UMB Financial Corp.
0.35%
Cytokinetics, Inc.
0.34%
ViaSat, Inc.
0.32%
Glaukos Corp.
0.31%
Krystal Biotech, Inc.
0.31%
CareTrust REIT, Inc.
0.30%
Old National Bancorp
0.30%
Brinker International, Inc.
0.29%
Crinetics Pharmaceuticals, Inc.
0.28%
HealthEquity, Inc.
0.28%
JFrog Ltd.
0.27%
Frequently asked questions about FESM and IWM
How have the FESM and IWM ETFs performed in 2026?
As of September 8, 2026, FESM is up 25.29% year-to-date (YTD), while IWM has returned 20.11%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FESM or IWM?
Year-to-date, the FESM ETF saw +$2.14B in flows, compared to -$7.28B for IWM.
Which ETF is more volatile: FESM or IWM?
Over the past year, FESM had a volatility of 18.86%, while IWM experienced 18.9%.
Which ETF is bigger: FESM or IWM?
As of September 8, 2026, FESM holds $6.51 B in assets under management (AUM), while IWM manages $79.99 B.
What sectors do the FESM and IWM ETFs invest in?
FESM leans toward sectors like Finance, Healthcare and Technology. Meanwhile, IWM focuses on Finance, Healthcare and Technology.
What are the top holdings of the FESM ETF and IWM ETF?
FESM top holdings include Commercial Metals Co., HealthEquity, Inc. and Oscar Health, Inc.. IWM holds in its top three: BlackRock Cash Funds - Treasury, Moog, Inc. and BrightSpring Health Services, Inc..
Which ETF is more diversified: FESM or IWM?
FESM holds 781 securities with 9.93% of its assets in the top 15. IWM has 1957 securities and a top 15 weight of 4.93%.
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