FESMvsIWMIETF Comparison
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Fidelity Enhanced Small Cap ETF (FESM) belongs to the US Small Cap segment. NEOS Russell 2000 High Income ETF (IWMI) is part of the Options Strategies segment. FESM's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, IWMI's top sector exposures are Finance, Healthcare and Technology. FESM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.78% for IWMI. FESM is up 24.34% year-to-date (YTD) with +$1.64B in YTD flows. IWMI performs worse with 15.55% YTD performance, and +$605M in YTD flows. Run a side-by-side ETF comparison of FESM and IWMI 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 IWMI 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 IWMI | -0.98%-0.97% | +9.06%+5.58% | +24.34%+15.55% | +43.22%+29.12% | n/an/a | n/an/a |
| Flows | FESM IWMI | +$422M+$134M | +$720M+$296M | +$1.64B+$605M | +$2.67B+$829M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM IWMI | +18.51%+14.67% | +19.37%+15.28% | n/an/a | n/an/a |
| Max drawdown | FESM IWMI | -4.69%-3.47% | -10.11%-8.39% | n/an/a | n/an/a |
| Max drawdown duration | FESM IWMI | 16d16d | 81d46d | n/an/a | n/an/a |
Trading data
FESM | IWMI | |
Last sale 7/24/2026 at 1:30 PM | $46.72 | $51.73 |
| Previous close 07/23/2026 | $46.78 | $51.91 |
| 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 | IWMI | |
|---|---|---|
| Last price | $46.72 | $51.73 |
| 1D performance | -0.13% | -0.35% |
| AuM | $5.96 B | $1.09 B |
| E/R | 0.28% | 0.78% |
Characteristics
FESM | IWMI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | NEOS Investment Management |
| Benchmark | - | - |
| N° of holdings | 655 | 1944 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 20, 2023 | June 25, 2024 |
| ESG | No | No |
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Exposure
Countries
FESM
USA
96.65%
Other
3.35%
IWMI
USA
93.39%
Other
6.61%
Sectors
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
IWMI
Finance
25.22%
Healthcare
19.61%
Technology
12.64%
Industrials
11.25%
Other
31.29%
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Diversification
FESM
Total weight of top 15 holdings out of 15
11.5%
IWMI
Total weight of top 15 holdings out of 15
4.76%
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%
IWMI
Moog, Inc.
0.37%
Hut 8 Corp.
0.36%
ViaSat, Inc.
0.35%
BrightSpring Health Services, Inc.
0.35%
Cytokinetics, Inc.
0.34%
MaxLinear, Inc.
0.34%
Argan, Inc.
0.33%
UMB Financial Corp.
0.32%
JFrog Ltd.
0.30%
Riot Platforms, Inc.
0.30%
Krystal Biotech, Inc.
0.30%
ESCO Technologies, Inc.
0.28%
CareTrust REIT, Inc.
0.28%
Old National Bancorp
0.28%
FirstCash Holdings, Inc.
0.27%
Frequently asked questions about FESM and IWMI
How have the FESM and IWMI ETFs performed in 2026?
As of July 24, 2026, FESM is up 24.34% year-to-date (YTD), while IWMI has returned 15.55%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FESM or IWMI?
Year-to-date, the FESM ETF saw +$1.64B in flows, compared to +$605M for IWMI.
Which ETF is more volatile: FESM or IWMI?
Over the past year, FESM had a volatility of 19.37%, while IWMI experienced 15.28%.
Which ETF is bigger: FESM or IWMI?
As of July 24, 2026, FESM holds $5.96 B in assets under management (AUM), while IWMI manages $1.09 B.
What sectors do the FESM and IWMI ETFs invest in?
FESM leans toward sectors like Finance, Technology and Healthcare. Meanwhile, IWMI focuses on Finance, Healthcare and Technology.
What are the top holdings of the FESM ETF and IWMI ETF?
FESM top holdings include Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc.. IWMI holds in its top three: Moog, Inc., Hut 8 Corp. and ViaSat, Inc..
Which ETF is more diversified: FESM or IWMI?
FESM holds 656 securities with 11.5% of its assets in the top 15. IWMI has 2000 securities and a top 15 weight of 4.76%.
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Latest news about FESM & IWMI
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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