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FSMDvsISCBETF Comparison

ETF 1

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

+0%

Full FSMD fund page

VS

ETF 2

ISCB

iShares Morningstar Small-Cap ETF

This fund is part of

US Small Cap

+0.12%

Full ISCB fund page

Fidelity Small-Mid Multifactor ETF (FSMD) belongs to the US Multi-Factor segment. iShares Morningstar Small-Cap ETF (ISCB) is part of the US Small Cap segment. FSMD's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, ISCB's top sector exposures are Industrials, Financials and Health Care. FSMD is more expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.04% for ISCB. FSMD is up 11.2% year-to-date (YTD) with +$233M in YTD flows. ISCB performs worse with 8.76% YTD performance, and -$7M in YTD flows. Run a side-by-side ETF comparison of FSMD and ISCB 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 ISCB 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 04/27/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMD ISCB	+11.37%+10.59%	+6.78%+2.96%	+11.20%+8.76%	+29.63%+34.90%	+61.21%+59.60%	+54.02%+28.77%
Flows	FSMD ISCB	+$37M-	+$197M-$3M	+$233M-$7M	+$510M-$16M	+$1.83B-$29M	+$1.88B-$29M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMD ISCB	+17.67%+18.15%	+15.01%+17.17%	+16.94%+19.70%	+18.30%+21.51%
Max drawdown	FSMD ISCB	-8.28%-9.38%	-8.28%-9.38%	-22.27%-25.75%	-22.27%-30.04%
Max drawdown duration	FSMD ISCB	43d65d	43d65d	289d289d	289d1067d

Trading data

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	FSMD	ISCB
Last sale 4/28/2026 at 3:35 PM	$48.16	$70.50
Previous close 04/27/2026	$48.89	$70.45
Consolidated volume 04/27/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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

Main metrics

Last update 4/28/2026 at 3:35 PM

Live

Closed

	FSMD	ISCB
Last price	$48.16	$70.50
1D performance	-1.49%	+0.06%
AuM	$2.36 B	$267.85 M
E/R	0.15%	0.04%

Characteristics

	FSMD	ISCB
Management strategy	Passive	Passive
Provider	Fidelity	iShares
Benchmark	Fidelity Small-Mid Multifactor Index	Morningstar US Small Cap Extended Index
N° of holdings	560	1339
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	February 26, 2019	June 28, 2004
ESG	No	No

More FSMD data on Trackinsight

More ISCB data on Trackinsight

Exposure

Countries

FSMD

USA

92.6%

Other

7.4%

ISCB

USA

95.32%

Other

4.68%

Sectors

FSMD

Industrials

19.48%

Financials

14.58%

Information Techn.

13.34%

Health Care

11.29%

Consumer Discreti.

10.19%

Other

31.12%

ISCB

Industrials

16.66%

Financials

14.68%

Health Care

12.33%

Information Techn.

12.09%

Consumer Discreti.

11.11%

Other

33.11%

Diversification

FSMD

Total weight of top 15 holdings out of 15

9.31%

ISCB

Total weight of top 15 holdings out of 15

5.27%

Top 15 holdings

Data as of March 31, 2026

FSMD

US80004C2008

1.35%

CIENA

0.95%

LUMENTUM HOLDINGS

0.83%

COMFORT SYSTEMS USA

0.78%

US19247G1076

0.65%

GB00BRXH2664

0.62%

TECHNIPFMC PLC

0.54%

EMCOR GROUP

0.54%

TAPESTRY INC

0.51%

CASEYS GENERAL STORES

0.51%

UTD THERAPEUT

0.43%

FLEX LTD

0.43%

CURTISS WRIGHT

0.42%

APA CORPORATION

0.38%

WOODWARD

0.37%

ISCB

LUMENTUM HOLDINGS

0.89%

ALBEMARLE

0.37%

CF INDUSTRIES HOLDINGS

0.36%

ATI INC

0.35%

COEUR MINING INC

0.33%

US65290E1010

0.31%

MODERNA INC

0.31%

ALCOA CORP

0.31%

REVOLUTION MEDICINES INC

0.30%

OVINTIV INC

0.30%

RBC BEARINGS

0.30%

ITT

0.29%

AKAMAI TECHNOLOGIES

0.28%

ECHOSTAR

0.28%

VIATRIS INC

0.28%

Frequently asked questions about FSMD and ISCB

How have the FSMD and ISCB ETFs performed in 2026?

As of April 27, 2026, FSMD is up 11.2% year-to-date (YTD), while ISCB has returned 8.76%. That puts FSMD better performer ahead so far this year.

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

Year-to-date, the FSMD ETF saw +$233M in flows, compared to -$7M for ISCB.

Which ETF is more volatile: FSMD or ISCB?

Over the past year, FSMD had a volatility of 15.01%, while ISCB experienced 17.17%.

Which ETF is bigger: FSMD or ISCB?

As of April 27, 2026, FSMD holds $2.36 B in assets under management (AUM), while ISCB manages $267.85 M.

What sectors do the FSMD and ISCB ETFs invest in?

FSMD leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, ISCB focuses on Industrials, Financials and Health Care.

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

FSMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. ISCB holds in its top three: LUMENTUM HOLDINGS, ALBEMARLE and CF INDUSTRIES HOLDINGS.

FSMDvsISCBETF Comparison

Fidelity Small-Mid Multifactor ETF

iShares Morningstar Small-Cap ETF

FSMD vs ISCB 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 ISCB ETFs performed in 2026?

As of April 27, 2026, FSMD is up 11.2% year-to-date (YTD), while ISCB has returned 8.76%. That puts FSMD better performer ahead so far this year.

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

Year-to-date, the FSMD ETF saw +$233M in flows, compared to -$7M for ISCB.

Which ETF is more volatile: FSMD or ISCB?

Over the past year, FSMD had a volatility of 15.01%, while ISCB experienced 17.17%.

Which ETF is bigger: FSMD or ISCB?

As of April 27, 2026, FSMD holds $2.36 B in assets under management (AUM), while ISCB manages $267.85 M.

What sectors do the FSMD and ISCB ETFs invest in?

FSMD leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, ISCB focuses on Industrials, Financials and Health Care.

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

FSMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. ISCB holds in its top three: LUMENTUM HOLDINGS, ALBEMARLE and CF INDUSTRIES HOLDINGS.

Which ETF is more diversified: FSMD or ISCB?

FSMD holds 595 securities with 9.31% of its assets in the top 15. ISCB has 1555 securities and a top 15 weight of 5.27%.

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