FNXvsFSMDETF Comparison
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First Trust Mid Cap Core AlphaDEX Fund ETF (FNX) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. FNX's top 3 sector exposures are Finance, Industrials and Healthcare. In contrast, FSMD's top sector exposures are Finance, Industrials and Technology. FNX is more expensive with a Total Expense Ratio (TER) of 0.62%, versus 0.15% for FSMD. FNX is up 12.04% year-to-date (YTD) with +$35M in YTD flows. FSMD performs better with 14.32% YTD performance, and +$321M in YTD flows. Run a side-by-side ETF comparison of FNX and FSMD 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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FNX vs FSMD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FNX FSMD | -4.73%-6.12% | -2.14%-2.49% | +12.04%+14.32% | +13.35%+15.57% | +53.01%+57.75% | +47.96%+58.13% |
| Flows | FNX FSMD | -+$31M | -$5M+$62M | +$35M+$321M | +$26M+$515M | -$135M+$1.90B | -$87M+$1.97B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FNX FSMD | +11.04%+14.17% | +15.38%+15.30% | +18.71%+17.14% | +20.58%+18.28% |
| Max drawdown | FNX FSMD | -5.07%-6.12% | -9.22%-8.28% | -25.04%-22.27% | -25.04%-22.27% |
| Max drawdown duration | FNX FSMD | 30d30d | 65d43d | 289d289d | 289d289d |
Trading data
FNX | FSMD | |
Last sale 9/17/2026 at 5:08 PM | $140.51 | $50.10 |
| Previous close 09/16/2026 | $139.47 | $50.20 |
| Consolidated volume 09/16/2026 | ||
| 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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FNX | FSMD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/17/2026 at 5:08 PM
Live
Closed
FNX | FSMD | |
|---|---|---|
| Last price | $140.51 | $50.10 |
| 1D performance | +0.75% | -0.20% |
| AuM | $1.35 B | $2.51 B |
| E/R | 0.62% | 0.15% |
Characteristics
FNX | FSMD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | First Trust | Fidelity |
| Benchmark | NASDAQ AlphaDEX Mid Cap Core Index | Fidelity Small-Mid Multifactor Index |
| N° of holdings | 448 | 586 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 8, 2007 | February 26, 2019 |
| ESG | No | No |
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Exposure
Countries
FNX
USA
97.13%
Other
2.87%
FSMD
USA
95.51%
Other
4.49%
Sectors
FNX
Finance
25.35%
Industrials
13.44%
Healthcare
11.43%
Technology
10.03%
Consumer Cyclical.
9.05%
Energy
8.57%
Other
22.13%
FSMD
Finance
23.71%
Industrials
16.08%
Technology
15.89%
Healthcare
12.78%
Non-Energy Materi.
7.81%
Other
23.74%
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Diversification
FNX
Total weight of top 15 holdings out of 15
6.94%
FSMD
Total weight of top 15 holdings out of 15
9.86%
Top 15 holdings
Data as of July 31, 2026
FNX
SM Energy Co.
0.53%
APA Corp.
0.50%
Genpact Ltd.
0.50%
EPAM Systems, Inc.
0.50%
HF Sinclair Corp.
0.49%
Permian Resources Corp.
0.48%
Ovintiv, Inc.
0.47%
Lithia Motors, Inc.
0.47%
Lyft, Inc.
0.44%
CF Industries Holdings, Inc.
0.43%
Universal Health Services, Inc.
0.43%
Matador Resources Co.
0.43%
Solventum Corp.
0.43%
Matson, Inc.
0.42%
Ingredion, Inc.
0.42%
FSMD
Sandisk Corp.
2.09%
Comfort Systems USA, Inc.
0.83%
Ciena Corp.
0.72%
Lumentum Holdings, Inc.
0.69%
Flex Ltd.
0.65%
Revolution Medicines, Inc.
0.58%
Coherent Corp.
0.56%
Casey's General Stores, Inc.
0.54%
Tapestry, Inc.
0.49%
Anglogold Ashanti Plc
0.48%
TechnipFMC plc
0.48%
EMCOR Group, Inc.
0.47%
Carpenter Technology Corp.
0.45%
Curtiss-Wright Corp.
0.42%
Tenet Healthcare Corp.
0.41%
Frequently asked questions about FNX and FSMD
How have the FNX and FSMD ETFs performed in 2026?
As of September 15, 2026, FNX is up 12.04% year-to-date (YTD), while FSMD has returned 14.32%. That puts FSMD better performer ahead so far this year.
Which ETF is attracting more investor money: FNX or FSMD?
Year-to-date, the FNX ETF saw +$35M in flows, compared to +$321M for FSMD.
Which ETF is more volatile: FNX or FSMD?
Over the past year, FNX had a volatility of 15.38%, while FSMD experienced 15.3%.
Which ETF is bigger: FNX or FSMD?
As of September 15, 2026, FNX holds $1.35 B in assets under management (AUM), while FSMD manages $2.51 B.
What sectors do the FNX and FSMD ETFs invest in?
FNX leans toward sectors like Finance, Industrials and Healthcare. Meanwhile, FSMD focuses on Finance, Industrials and Technology.
What are the top holdings of the FNX ETF and FSMD ETF?
FNX top holdings include SM Energy Co., APA Corp. and Genpact Ltd.. FSMD holds in its top three: Sandisk Corp., Comfort Systems USA, Inc. and Ciena Corp..
Which ETF is more diversified: FNX or FSMD?
FNX holds 448 securities with 6.94% of its assets in the top 15. FSMD has 586 securities and a top 15 weight of 9.86%.
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