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 Industrials, Information Technology and Financials. In contrast, IWMI's top sector exposures are Industrials, Health Care and Financials. FESM is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.78% for IWMI. FESM is up 13.22% year-to-date (YTD) with +$959M in YTD flows. IWMI performs worse with 8.51% YTD performance, and +$321M 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 04/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FESM IWMI | +15.91%+11.23% | +6.49%+3.57% | +13.22%+8.51% | +48.22%+35.75% | n/an/a | n/an/a |
| Flows | FESM IWMI | +$166M+$85M | +$687M+$228M | +$959M+$321M | +$2.10B+$583M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FESM IWMI | +22.09%+18.30% | +19.23%+14.86% | n/an/a | n/an/a |
| Max drawdown | FESM IWMI | -9.39%-8.39% | -10.11%-8.39% | n/an/a | n/an/a |
| Max drawdown duration | FESM IWMI | 46d46d | 81d46d | n/an/a | n/an/a |
Trading data
FESM | IWMI | |
Last sale 4/30/2026 at 1:30 PM | $43.44 | $51.02 |
| Previous close 04/29/2026 | $42.62 | $50.37 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/30/2026 at 1:30 PM
Live
Closed
FESM | IWMI | |
|---|---|---|
| Last price | $43.44 | $51.02 |
| 1D performance | +1.92% | +1.29% |
| AuM | $4.81 B | $791.38 M |
| E/R | 0.28% | 0.78% |
Characteristics
FESM | IWMI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Fidelity | NEOS Investment Management |
| Benchmark | - | - |
| N° of holdings | 555 | 1612 |
| 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
92.12%
Other
7.88%
IWMI
USA
89.36%
Other
10.64%
Sectors
FESM
Industrials
17.55%
Information Techn.
16.09%
Financials
14.71%
Health Care
13.83%
Energy
8.15%
Consumer Discreti.
7.58%
Other
22.08%
IWMI
Industrials
14.97%
Health Care
14.66%
Financials
14.06%
Information Techn.
13.7%
Consumer Discreti.
8.17%
Other
34.43%
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Diversification
FESM
Total weight of top 15 holdings out of 15
12.15%
IWMI
Total weight of top 15 holdings out of 15
7.3%
Top 15 holdings
Data as of March 31, 2026
FESM
BLOOM ENERGY CORP
1.32%
FABRINET
1.23%
CREDO TECHNOLOGY GROUP HOLDING
0.86%
GUARDANT HEALTH INC
0.81%
HEALTHEQUITY I/D
0.76%
FASTLY INC
0.76%
ENERSYS
0.76%
PLANET LABS PBC
0.76%
HECLA MINING
0.74%
COMMERCIAL METALS
0.72%
CALIFORNIA RESOURCES
0.70%
COEUR MINING INC
0.69%
PHILLIPS EDISON AND COMPANY
0.69%
DELEK US HOLDINGS
0.68%
ABERCROMBIE AND FITCH
0.67%
IWMI
BLOOM ENERGY CORP
0.98%
COEUR MINING INC
0.63%
FABRINET
0.62%
US65290E1010
0.58%
ECHOSTAR
0.52%
CREDO TECHNOLOGY GROUP HOLDING
0.50%
KRATOS DEFENSE AND SECURITY SOLS
0.42%
ADVANCED ENERGY INDUSTRIES
0.40%
STERLING INFRASTRUCTURE INC
0.40%
HECLA MINING
0.39%
BRIDGEBIO PHARMA
0.39%
GUARDANT HEALTH INC
0.38%
MODINE MNFC CO
0.38%
ENSIGN GROUP
0.37%
TTM TECHNOLOGIES
0.33%
Frequently asked questions about FESM and IWMI
How have the FESM and IWMI ETFs performed in 2026?
As of April 29, 2026, FESM is up 13.22% year-to-date (YTD), while IWMI has returned 8.51%. 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 +$959M in flows, compared to +$321M for IWMI.
Which ETF is more volatile: FESM or IWMI?
Over the past year, FESM had a volatility of 19.23%, while IWMI experienced 14.86%.
Which ETF is bigger: FESM or IWMI?
As of April 29, 2026, FESM holds $4.81 B in assets under management (AUM), while IWMI manages $791.38 M.
What sectors do the FESM and IWMI ETFs invest in?
FESM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, IWMI focuses on Industrials, Health Care and Financials.
What are the top holdings of the FESM ETF and IWMI ETF?
FESM top holdings include BLOOM ENERGY CORP, FABRINET and CREDO TECHNOLOGY GROUP HOLDING. IWMI holds in its top three: BLOOM ENERGY CORP, COEUR MINING INC and FABRINET.
Which ETF is more diversified: FESM or IWMI?
FESM holds 622 securities with 12.15% of its assets in the top 15. IWMI has 1948 securities and a top 15 weight of 7.3%.
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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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