FLQSvsFESMETF Comparison
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Franklin U.S. Small Cap Multifactor Index ETF (FLQS) belongs to the US Multi-Factor segment. Fidelity Enhanced Small Cap ETF (FESM) is part of the US Small Cap segment. FLQS's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, FESM's top sector exposures are Finance, Healthcare and Technology. FLQS is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.28% for FESM. FLQS is up 14.47% year-to-date (YTD) with -$28M in YTD flows. FESM performs better with 22.38% YTD performance, and +$2.57B in YTD flows. Run a side-by-side ETF comparison of FLQS and FESM 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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FLQS vs FESM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FLQS FESM | +4.04%+1.61% | -1.81%-2.36% | +14.47%+22.38% | +13.43%+23.12% | +56.63%n/a | +32.89%n/a |
| Flows | FLQS FESM | +$2M+$293M | -$3M+$899M | -$28M+$2.57B | -$28M+$2.97B | +$642K- | +$18M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FLQS FESM | +10.41%+13.70% | +13.72%+18.16% | +17.71%n/a | +19.06%n/a |
| Max drawdown | FLQS FESM | -7.72%-9.37% | -8.39%-10.11% | -22.82%n/a | -28.18%n/a |
| Max drawdown duration | FLQS FESM | 73d73d | 49d81d | 415dn/a | 862dn/a |
Trading data
FLQS | FESM | |
Last sale 10/29/2026 at 1:30 PM | $49.60 | $46.25 |
| Previous close 10/28/2026 | $48.84 | $45.88 |
| Consolidated volume 10/28/2026 | ||
| 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 indexFLQS | FESM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/29/2026 at 1:30 PM
Live
Closed
FLQS | FESM | |
|---|---|---|
| Last price | $49.60 | $46.25 |
| 1D performance | +1.56% | +0.81% |
| AuM | $48.87 M | $6.77 B |
| E/R | 0.35% | 0.28% |
Characteristics
FLQS | FESM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Franklin Templeton | Fidelity |
| Benchmark | LibertyQ US Small Cap Equity Index | - |
| N° of holdings | 487 | 794 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 26, 2017 | November 20, 2023 |
| ESG | No | No |
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Exposure
Countries
FLQS
USA
92.87%
Other
7.13%
FESM
USA
96.11%
Other
3.89%
Sectors
FLQS
Finance
21.11%
Technology
14.18%
Healthcare
13.87%
Consumer Cyclical.
10.31%
Consumer Non-Cycl.
9.5%
Industrials
8.91%
Other
22.12%
FESM
Finance
22.73%
Healthcare
21.4%
Technology
17.24%
Industrials
11.07%
Other
27.55%
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Diversification
FLQS
Total weight of top 15 holdings out of 15
13.84%
FESM
Total weight of top 15 holdings out of 15
9.91%
Top 15 holdings
Data as of August 31, 2026
FLQS
Alkermes Plc
1.06%
Abercrombie & Fitch Co.
1.03%
Essent Group Ltd.
1.02%
Protagonist Therapeutics, Inc.
1.01%
InterDigital, Inc.
0.98%
Moog, Inc.
0.97%
Cheesecake Factory, Inc.
0.92%
FirstCash Holdings, Inc.
0.91%
Qualys, Inc.
0.91%
CareTrust REIT, Inc.
0.89%
ESCO Technologies, Inc.
0.89%
Compass, Inc. (New York)
0.85%
Commvault Systems, Inc.
0.81%
Selective Insurance Group, Inc.
0.79%
Enova International, Inc.
0.78%
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%
Frequently asked questions about FLQS and FESM
How have the FLQS and FESM ETFs performed in 2026?
As of October 28, 2026, FLQS is up 14.47% year-to-date (YTD), while FESM has returned 22.38%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FLQS or FESM?
Year-to-date, the FLQS ETF saw -$28M in flows, compared to +$2.57B for FESM.
Which ETF is more volatile: FLQS or FESM?
Over the past year, FLQS had a volatility of 13.72%, while FESM experienced 18.16%.
Which ETF is bigger: FLQS or FESM?
As of October 28, 2026, FLQS holds $48.87 M in assets under management (AUM), while FESM manages $6.77 B.
What sectors do the FLQS and FESM ETFs invest in?
FLQS leans toward sectors like Finance, Technology and Healthcare. Meanwhile, FESM focuses on Finance, Healthcare and Technology.
What are the top holdings of the FLQS ETF and FESM ETF?
FLQS top holdings include Alkermes Plc, Abercrombie & Fitch Co. and Essent Group Ltd.. FESM holds in its top three: Commercial Metals Co., Installed Building Products, Inc. and Oscar Health, Inc..
Which ETF is more diversified: FLQS or FESM?
FLQS holds 490 securities with 13.84% of its assets in the top 15. FESM has 795 securities and a top 15 weight of 9.91%.
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Latest news about FLQS & FESM
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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