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 20.13% year-to-date (YTD) with +$2.53B in YTD flows. IWM performs worse with 12.8% YTD performance, and -$7.92B 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 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FESM IWM | -0.61%-2.13% | -3.48%-5.28% | +20.13%+12.80% | +21.99%+13.07% | n/a+72.87% | n/a+27.92% |
| Flows | FESM IWM | +$284M-$328M | +$900M-$1.69B | +$2.53B-$7.92B | +$2.97B-$3.36B | --$3.41B | --$7.73B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM IWM | +13.59%+13.94% | +18.17%+18.21% | n/a+21.10% | n/a+22.45% |
| Max drawdown | FESM IWM | -9.37%-11.10% | -10.11%-11.10% | n/a-27.52% | n/a-31.96% |
| Max drawdown duration | FESM IWM | 68d68d | 81d68d | n/a289d | n/a1093d |
Trading data
FESM | IWM | |
Last sale 10/23/2026 at 1:30 PM | $45.02 | $275.75 |
| Previous close 10/23/2026 | $45.21 | $276.67 |
| Consolidated volume 10/23/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 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 10/23/2026 at 1:30 PM
Live
Closed
FESM | IWM | |
|---|---|---|
| Last price | $45.02 | $275.75 |
| 1D performance | -0.42% | -0.33% |
| AuM | $6.61 B | $74.21 B |
| E/R | 0.28% | 0.19% |
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Exposure
Countries
FESM
USA
96.11%
Other
3.89%
IWM
USA
94.99%
Other
5.01%
Sectors
FESM
Finance
22.73%
Healthcare
21.4%
Technology
17.24%
Industrials
11.07%
Other
27.55%
IWM
Finance
26.05%
Healthcare
20.69%
Technology
11.8%
Industrials
10.33%
Other
31.12%
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Diversification
FESM
Total weight of top 15 holdings out of 15
9.91%
IWM
Total weight of top 15 holdings out of 15
4.62%
Top 15 holdings
Data as of August 31, 2026
FESM
Commercial Metals Co.
0.77%
Installed Building Products, Inc.
0.71%
Oscar Health, Inc.
0.71%
Tenable Holdings, Inc.
0.70%
Option Care Health, Inc.
0.68%
Plexus Corp.
0.66%
HealthEquity, Inc.
0.65%
Tutor Perini Corp.
0.65%
Kodiak Gas Services, Inc.
0.64%
Griffon Corp.
0.64%
Glaukos Corp.
0.63%
EnerSys
0.63%
OUTFRONT Media, Inc.
0.62%
Phillips Edison & Co., Inc.
0.62%
Balchem Corp.
0.60%
IWM
JFrog Ltd.
0.35%
Moog, Inc.
0.34%
UMB Financial Corp.
0.34%
Glaukos Corp.
0.33%
BlackRock Cash Funds - Treasury
0.33%
Brinker International, Inc.
0.32%
BrightSpring Health Services, Inc.
0.30%
Krystal Biotech, Inc.
0.30%
Cytokinetics, Inc.
0.30%
Old National Bancorp
0.29%
Protagonist Therapeutics, Inc.
0.29%
SM Energy Co.
0.29%
Twist Bioscience Corp.
0.28%
FirstCash Holdings, Inc.
0.28%
CareTrust REIT, Inc.
0.28%
Frequently asked questions about FESM and IWM
How have the FESM and IWM ETFs performed in 2026?
As of October 23, 2026, FESM is up 20.13% year-to-date (YTD), while IWM has returned 12.8%. 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 +$2.53B in flows, compared to -$7.92B for IWM.
Which ETF is more volatile: FESM or IWM?
Over the past year, FESM had a volatility of 18.17%, while IWM experienced 18.21%.
Which ETF is bigger: FESM or IWM?
As of October 23, 2026, FESM holds $6.61 B in assets under management (AUM), while IWM manages $74.21 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., Installed Building Products, Inc. and Oscar Health, Inc.. IWM holds in its top three: JFrog Ltd., Moog, Inc. and UMB Financial Corp..
Which ETF is more diversified: FESM or IWM?
FESM holds 795 securities with 9.91% of its assets in the top 15. IWM has 1953 securities and a top 15 weight of 4.62%.
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