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FSMDvsMSSMETF Comparison
Fidelity Small-Mid Multifactor ETF (FSMD) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. FSMD's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, MSSM's top sector exposures are Industrials, Information Technology and Financials. FSMD is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.9% for MSSM. FSMD is up 2.49% year-to-date (YTD) with +$166M in YTD flows. MSSM performs better with 4.46% YTD performance, and -$8M in YTD flows. Run a side-by-side ETF comparison of FSMD and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
FSMD vs MSSM performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FSMD MSSM | -4.42%-4.26% | +1.04%+3.76% | +2.49%+4.46% | +18.23%+26.21% | +49.31%n/a | +49.54%n/a |
| Flows | FSMD MSSM | +$55M- | +$210M+$7M | +$166M-$8M | +$1.02B+$49M | +$1.76B- | +$1.81B- |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FSMD MSSM | +13.85%+17.20% | +18.99%+22.05% | +16.92%n/a | +18.24%n/a |
| Max drawdown | FSMD MSSM | -5.58%-5.51% | -13.29%-16.45% | -22.27%n/a | -22.27%n/a |
| Max drawdown duration | FSMD MSSM | 12d11d | 46d49d | 289dn/a | 289dn/a |
FSMD | MSSM | |
Last sale 3/11/2026 at 1:30 PM | $45.13 | $52.42 |
| Previous close 03/10/2026 | $45.15 | $52.52 |
| Consolidated volume 03/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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FSMD | MSSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
FSMD | MSSM | |
|---|---|---|
| Last price | $45.13 | $52.42 |
| 1D performance | -0.04% | -0.19% |
| AuM | $2.12 B | $704.97 M |
| E/R | 0.15% | 0.9% |
FSMD | MSSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Fidelity | Morgan Stanley |
| Benchmark | Fidelity Small-Mid Multifactor Index | - |
| N° of holdings | 546 | 1919 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 26, 2019 | December 9, 2024 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the FSMD and MSSM ETFs performed in 2026?
As of March 10, 2026, FSMD is up 2.49% year-to-date (YTD), while MSSM has returned 4.46%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: FSMD or MSSM?
Year-to-date, the FSMD ETF saw +$166M in flows, compared to -$8M for MSSM.
Which ETF is more volatile: FSMD or MSSM?
Over the past year, FSMD had a volatility of 18.99%, while MSSM experienced 22.05%.
Which ETF is bigger: FSMD or MSSM?
As of March 10, 2026, FSMD holds $2.12 B in assets under management (AUM), while MSSM manages $704.97 M.
What sectors do the FSMD and MSSM ETFs invest in?
FSMD leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.
What are the top holdings of the FSMD ETF and MSSM ETF?
FSMD top holdings include GB00BRXH2664, CIENA and COMFORT SYSTEMS USA. MSSM holds in its top three: US04351P1012, TECHNIPFMC PLC and COMFORT SYSTEMS USA.
Which ETF is more diversified: FSMD or MSSM?
FSMD holds 584 securities with 7.83% of its assets in the top 15. MSSM has 1968 securities and a top 15 weight of 10.34%.
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