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FSMDvsSMMDETF 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

SMMD

iShares Russell 2500 ETF

This fund is part of

US Multi-Factor

+0%

Full SMMD fund page

Fidelity Small-Mid Multifactor ETF (FSMD) and iShares Russell 2500 ETF (SMMD) belong to the same industry segment: US Multi-Factor. FSMD's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, SMMD's top sector exposures are Industrials, Information Technology and Financials. FSMD is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.23% for SMMD. FSMD is up 11.2% year-to-date (YTD) with +$233M in YTD flows. SMMD performs better with 12.9% YTD performance, and +$452M in YTD flows. Run a side-by-side ETF comparison of FSMD and SMMD 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 SMMD 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 SMMD	+11.37%+13.09%	+6.78%+5.73%	+11.20%+12.90%	+29.63%+39.67%	+61.21%+64.18%	+54.02%+37.03%
Flows	FSMD SMMD	+$37M+$108M	+$197M+$567M	+$233M+$452M	+$510M+$1.02B	+$1.83B+$1.61B	+$1.88B+$2.08B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMD SMMD	+17.67%+20.61%	+15.01%+17.53%	+16.94%+19.29%	+18.30%+20.93%
Max drawdown	FSMD SMMD	-8.28%-9.48%	-8.28%-9.48%	-22.27%-25.55%	-22.27%-28.20%
Max drawdown duration	FSMD SMMD	43d43d	43d43d	289d283d	289d980d

Trading data

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	FSMD	SMMD
Last sale 4/27/2026 at 1:30 PM	$48.89	$84.40
Previous close 04/27/2026	$48.73	$84.26
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	SMMD
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/27/2026 at 1:30 PM

Live

Closed

	FSMD	SMMD
Last price	$48.89	$84.40
1D performance	+0.33%	+0.17%
AuM	$2.36 B	$2.97 B
E/R	0.15%	0.23%

Characteristics

	FSMD	SMMD
Management strategy	Passive	Passive
Provider	Fidelity	iShares
Benchmark	Fidelity Small-Mid Multifactor Index	Russell 2500 Index
N° of holdings	560	2049
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	February 26, 2019	July 6, 2017
ESG	No	No

More FSMD data on Trackinsight

More SMMD data on Trackinsight

Exposure

Countries

FSMD

USA

92.6%

Other

7.4%

SMMD

USA

92.04%

Other

7.96%

Sectors

FSMD

Industrials

19.48%

Financials

14.58%

Information Techn.

13.34%

Health Care

11.29%

Consumer Discreti.

10.19%

Other

31.12%

SMMD

Industrials

18.13%

Information Techn.

13.44%

Financials

12.96%

Health Care

11.23%

Consumer Discreti.

9.7%

Other

34.54%

Diversification

FSMD

Total weight of top 15 holdings out of 15

9.31%

SMMD

Total weight of top 15 holdings out of 15

8.25%

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%

SMMD

US80004C2008

1.31%

CIENA

0.79%

LUMENTUM HOLDINGS

0.71%

COMFORT SYSTEMS USA

0.69%

US19247G1076

0.60%

INSMED

0.49%

EMCOR GROUP

0.47%

US7731211089

0.45%

BLOOM ENERGY CORP

0.42%

TAPESTRY INC

0.41%

TECHNIPFMC PLC

0.40%

JABIL CIRCUIT

0.40%

CASEYS GENERAL STORES

0.39%

UTD THERAPEUT

0.36%

CURTISS WRIGHT

0.36%

Frequently asked questions about FSMD and SMMD

How have the FSMD and SMMD ETFs performed in 2026?

As of April 27, 2026, FSMD is up 11.2% year-to-date (YTD), while SMMD has returned 12.9%. That puts SMMD better performer ahead so far this year.

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

Year-to-date, the FSMD ETF saw +$233M in flows, compared to +$452M for SMMD.

Which ETF is more volatile: FSMD or SMMD?

Over the past year, FSMD had a volatility of 15.01%, while SMMD experienced 17.53%.

Which ETF is bigger: FSMD or SMMD?

As of April 27, 2026, FSMD holds $2.36 B in assets under management (AUM), while SMMD manages $2.97 B.

What sectors do the FSMD and SMMD ETFs invest in?

FSMD leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, SMMD focuses on Industrials, Information Technology and Financials.

FSMDvsSMMDETF Comparison

Fidelity Small-Mid Multifactor ETF

iShares Russell 2500 ETF

FSMD vs SMMD 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 SMMD ETFs performed in 2026?

As of April 27, 2026, FSMD is up 11.2% year-to-date (YTD), while SMMD has returned 12.9%. That puts SMMD better performer ahead so far this year.

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

Year-to-date, the FSMD ETF saw +$233M in flows, compared to +$452M for SMMD.

Which ETF is more volatile: FSMD or SMMD?

Over the past year, FSMD had a volatility of 15.01%, while SMMD experienced 17.53%.

Which ETF is bigger: FSMD or SMMD?

As of April 27, 2026, FSMD holds $2.36 B in assets under management (AUM), while SMMD manages $2.97 B.

What sectors do the FSMD and SMMD ETFs invest in?

FSMD leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, SMMD focuses on Industrials, Information Technology and Financials.

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

FSMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. SMMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: FSMD or SMMD?

FSMD holds 595 securities with 9.31% of its assets in the top 15. SMMD has 2427 securities and a top 15 weight of 8.25%.

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