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FSMDvsFFSMETF Comparison

ETF 1

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

+1.31%

Full FSMD fund page

VS

ETF 2

FFSM

Fidelity Fundamental Small-Mid Cap ETF

This fund is part of

Global Blended Cap

+2.31%

Full FFSM fund page

Fidelity Small-Mid Multifactor ETF (FSMD) belongs to the US Multi-Factor segment. Fidelity Fundamental Small-Mid Cap ETF (FFSM) is part of the Global Blended Cap segment. FSMD's top 3 sector exposures are Finance, Technology and Industrials. In contrast, FFSM's top sector exposures are Finance, Industrials and Technology. FSMD is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.43% for FFSM. FSMD is up 15.96% year-to-date (YTD) with +$284M in YTD flows. FFSM performs better with 19.08% YTD performance, and +$342M in YTD flows. Run a side-by-side ETF comparison of FSMD and FFSM 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 FFSM performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 07/30/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMD FFSM	-4.05%-4.02%	+4.10%+2.53%	+15.96%+19.08%	+21.99%+31.31%	+52.44%+63.46%	+60.65%+64.19%
Flows	FSMD FFSM	+$26M+$134M	+$51M+$161M	+$284M+$342M	+$509M+$500M	+$1.87B+$1.17B	+$1.92B+$1.18B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMD FFSM	+16.21%+18.99%	+15.57%+18.72%	+17.10%+19.26%	+18.29%+20.61%
Max drawdown	FSMD FFSM	-5.57%-5.57%	-8.28%-10.43%	-22.27%-24.54%	-22.27%-26.71%
Max drawdown duration	FSMD FFSM	30d35d	43d43d	289d283d	289d828d

Trading data

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	FSMD	FFSM
Last sale 7/30/2026 at 1:30 PM	$50.80	$36.55
Previous close 07/30/2026	$50.02	$36.13
Consolidated volume 07/30/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of June 30, 2026

1-year trailing difference

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FFSM

is actively managed and doesn’t replicate an index

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	FSMD	FFSM
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 7/30/2026 at 1:30 PM

Live

Closed

	FSMD	FFSM
Last price	$50.80	$36.55
1D performance	+1.56%	+1.16%
AuM	$2.51 B	$1.48 B
E/R	0.15%	0.43%

Characteristics

	FSMD	FFSM
Management strategy	Passive	Active
Provider	Fidelity	Fidelity
Benchmark	Fidelity Small-Mid Multifactor Index	-
N° of holdings	589	1072
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	February 26, 2019	February 4, 2021
ESG	No	No

More FSMD data on Trackinsight

More FFSM data on Trackinsight

Exposure

Countries

FSMD

USA

95.61%

Other

4.39%

FFSM

USA

95.23%

Other

4.77%

Sectors

FSMD

Finance

22.27%

Technology

18.93%

Industrials

16.61%

Healthcare

11.95%

Non-Energy Materi.

7.74%

Other

22.51%

FFSM

Finance

19.17%

Industrials

18.27%

Technology

17.37%

Non-Energy Materi.

10.62%

Healthcare

10.02%

Consumer Cyclical.

9.34%

Other

15.22%

Diversification

FSMD

Total weight of top 15 holdings out of 15

12.43%

FFSM

Total weight of top 15 holdings out of 15

21.78%

Top 15 holdings

Data as of June 30, 2026

FSMD

Sandisk Corp.

3.85%

Ciena Corp.

0.95%

Comfort Systems USA, Inc.

0.92%

Coherent Corp.

0.85%

Lumentum Holdings, Inc.

0.83%

Flex Ltd.

0.82%

Revolution Medicines, Inc.

0.55%

EMCOR Group, Inc.

0.52%

Anglogold Ashanti Plc

0.48%

Casey's General Stores, Inc.

0.48%

Carpenter Technology Corp.

0.46%

Tapestry, Inc.

0.46%

Sterling Infrastructure, Inc.

0.43%

MKS, Inc.

0.42%

Curtiss-Wright Corp.

0.42%

FFSM

Coherent Corp.

1.80%

ATI, Inc.

1.67%

IES Holdings, Inc.

1.66%

TD SYNNEX Corp.

1.65%

Performance Food Group Co.

1.50%

SPX Technologies, Inc.

1.45%

Advanced Energy Industries, Inc.

1.40%

Seagate Technology Holdings Plc

1.39%

Element Solutions, Inc.

1.37%

US Foods Holding Corp.

1.36%

Fabrinet

1.36%

Crocs, Inc.

1.32%

FirstCash Holdings, Inc.

1.30%

Sterling Infrastructure, Inc.

1.28%

Murphy USA, Inc.

1.26%

Frequently asked questions about FSMD and FFSM

How have the FSMD and FFSM ETFs performed in 2026?

As of July 30, 2026, FSMD is up 15.96% year-to-date (YTD), while FFSM has returned 19.08%. That puts FFSM better performer ahead so far this year.

Which ETF is attracting more investor money: FSMD or FFSM?

Year-to-date, the FSMD ETF saw +$284M in flows, compared to +$342M for FFSM.

Which ETF is more volatile: FSMD or FFSM?

Over the past year, FSMD had a volatility of 15.57%, while FFSM experienced 18.72%.

Which ETF is bigger: FSMD or FFSM?

As of July 30, 2026, FSMD holds $2.51 B in assets under management (AUM), while FFSM manages $1.48 B.

What sectors do the FSMD and FFSM ETFs invest in?

FSMD leans toward sectors like Finance, Technology and Industrials. Meanwhile, FFSM focuses on Finance, Industrials and Technology.

What are the top holdings of the FSMD ETF and FFSM ETF?

FSMD top holdings include Sandisk Corp., Ciena Corp. and Comfort Systems USA, Inc.. FFSM holds in its top three: Coherent Corp., ATI, Inc. and IES Holdings, Inc..

FSMDvsFFSMETF Comparison

Fidelity Small-Mid Multifactor ETF

Fidelity Fundamental Small-Mid Cap ETF

FSMD vs FFSM performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FSMD and FFSM ETFs performed in 2026?

As of July 30, 2026, FSMD is up 15.96% year-to-date (YTD), while FFSM has returned 19.08%. That puts FFSM better performer ahead so far this year.

Which ETF is attracting more investor money: FSMD or FFSM?

Year-to-date, the FSMD ETF saw +$284M in flows, compared to +$342M for FFSM.

Which ETF is more volatile: FSMD or FFSM?

Over the past year, FSMD had a volatility of 15.57%, while FFSM experienced 18.72%.

Which ETF is bigger: FSMD or FFSM?

As of July 30, 2026, FSMD holds $2.51 B in assets under management (AUM), while FFSM manages $1.48 B.

What sectors do the FSMD and FFSM ETFs invest in?

FSMD leans toward sectors like Finance, Technology and Industrials. Meanwhile, FFSM focuses on Finance, Industrials and Technology.

What are the top holdings of the FSMD ETF and FFSM ETF?

FSMD top holdings include Sandisk Corp., Ciena Corp. and Comfort Systems USA, Inc.. FFSM holds in its top three: Coherent Corp., ATI, Inc. and IES Holdings, Inc..

Which ETF is more diversified: FSMD or FFSM?

FSMD holds 590 securities with 12.43% of its assets in the top 15. FFSM has 1074 securities and a top 15 weight of 21.78%.

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