FSMDvsESMLETF Comparison
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Fidelity Small-Mid Multifactor ETF (FSMD) belongs to the US Multi-Factor segment. iShares ESG Aware MSCI USA Small-Cap ETF (ESML) is part of the US Small Cap segment. Both ETFs have the same top 3 sector exposures: Finance, Technology and Healthcare. FSMD is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.17% for ESML. FSMD is up 16.8% year-to-date (YTD) with +$331M in YTD flows. ESML performs better with 18.79% YTD performance, and +$334M in YTD flows. Run a side-by-side ETF comparison of FSMD and ESML 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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FSMD vs ESML performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FSMD ESML | +3.01%+3.66% | +2.35%+2.53% | +16.80%+18.79% | +19.26%+20.21% | +73.87%+79.94% | +56.58%+41.55% |
| Flows | FSMD ESML | -$10M-$61M | +$46M-$78M | +$331M+$334M | +$419M+$330M | +$1.91B+$606M | +$1.98B+$941M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FSMD ESML | +11.82%+13.49% | +14.87%+16.33% | +16.95%+19.46% | +18.18%+21.17% |
| Max drawdown | FSMD ESML | -7.33%-8.35% | -8.28%-9.05% | -22.27%-26.61% | -22.27%-28.52% |
| Max drawdown duration | FSMD ESML | 73d74d | 43d46d | 289d296d | 289d980d |
Trading data
FSMD | ESML | |
Last sale 10/30/2026 at 1:30 PM | $50.25 | $53.48 |
| Previous close 10/29/2026 | $50.98 | $54.19 |
| Consolidated volume 10/29/2026 | ||
| 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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FSMD | ESML | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/30/2026 at 1:30 PM
Live
Closed
FSMD | ESML | |
|---|---|---|
| Last price | $50.25 | $53.48 |
| 1D performance | -1.43% | -1.31% |
| AuM | $2.56 B | $2.76 B |
| E/R | 0.15% | 0.17% |
Characteristics
FSMD | ESML | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Fidelity | iShares |
| Benchmark | Fidelity Small-Mid Multifactor Index | MSCI USA Small Cap Extended ESG Focus Index |
| N° of holdings | 597 | 905 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 26, 2019 | April 10, 2018 |
| ESG | No | Yes |
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Exposure
Countries
FSMD
USA
95.73%
Other
4.27%
ESML
USA
95.91%
Other
4.09%
Sectors
FSMD
Finance
24.06%
Technology
16.36%
Healthcare
15.25%
Industrials
13.2%
Other
31.12%
ESML
Finance
21.56%
Technology
16.15%
Healthcare
15.79%
Industrials
14.06%
Other
32.43%
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Diversification
FSMD
Total weight of top 15 holdings out of 15
5.83%
ESML
Total weight of top 15 holdings out of 15
6.45%
Top 15 holdings
Data as of September 30, 2026
FSMD
Everpure, Inc.
0.69%
nVent Electric Plc
0.45%
Guardant Health, Inc.
0.44%
Tenet Healthcare Corp.
0.40%
Incyte Corp.
0.38%
TD SYNNEX Corp.
0.37%
Semtech Corp.
0.36%
HF Sinclair Corp.
0.35%
Nutanix, Inc.
0.35%
Revvity, Inc.
0.35%
East West Bancorp, Inc.
0.35%
Loews Corp.
0.34%
Dynatrace, Inc.
0.34%
Reinsurance Group of America, Inc.
0.34%
Zebra Technologies Corp.
0.34%
ESML
Moderna, Inc.
1.07%
Assurant, Inc.
0.61%
US Foods Holding Corp.
0.53%
Ovintiv, Inc.
0.42%
Guardant Health, Inc.
0.38%
ONE Gas, Inc.
0.38%
Revvity, Inc.
0.37%
Royal Gold, Inc.
0.36%
Dynatrace, Inc.
0.35%
Nutanix, Inc.
0.35%
Equitable Holdings, Inc.
0.34%
Trimble, Inc.
0.33%
TXNM Energy, Inc.
0.32%
Jones Lang LaSalle, Inc.
0.32%
Woodward, Inc.
0.31%
Frequently asked questions about FSMD and ESML
How have the FSMD and ESML ETFs performed in 2026?
As of October 29, 2026, FSMD is up 16.8% year-to-date (YTD), while ESML has returned 18.79%. That puts ESML better performer ahead so far this year.
Which ETF is attracting more investor money: FSMD or ESML?
Year-to-date, the FSMD ETF saw +$331M in flows, compared to +$334M for ESML.
Which ETF is more volatile: FSMD or ESML?
Over the past year, FSMD had a volatility of 14.87%, while ESML experienced 16.33%.
Which ETF is bigger: FSMD or ESML?
As of October 29, 2026, FSMD holds $2.56 B in assets under management (AUM), while ESML manages $2.76 B.
What sectors do the FSMD and ESML ETFs invest in?
FSMD leans toward sectors like Finance, Technology and Healthcare. Meanwhile, ESML focuses on Finance, Technology and Healthcare.
What are the top holdings of the FSMD ETF and ESML ETF?
FSMD top holdings include Everpure, Inc., nVent Electric Plc and Guardant Health, Inc.. ESML holds in its top three: Moderna, Inc., Assurant, Inc. and US Foods Holding Corp..
Which ETF is more diversified: FSMD or ESML?
FSMD holds 597 securities with 5.83% of its assets in the top 15. ESML has 906 securities and a top 15 weight of 6.45%.
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