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FSMDvsSQLTETF 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

SQLT

iShares MSCI USA Small-Cap Quality Factor ETF

This fund is part of

US Multi-Factor

+0%

Full SQLT fund page

Fidelity Small-Mid Multifactor ETF (FSMD) and iShares MSCI USA Small-Cap Quality Factor ETF (SQLT) belong to the same industry segment: US Multi-Factor. FSMD's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, SQLT's top sector exposures are Industrials, Information Technology and Financials. FSMD is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.2% for SQLT. Run a side-by-side ETF comparison of FSMD and SQLT 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 SQLT 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 06/18/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMD SQLT	+6.48%+4.76%	+16.74%n/a	+17.70%n/a	+29.21%n/a	+63.44%n/a	+68.93%n/a
Flows	FSMD SQLT	+$30M+$4K	+$79M-	+$258M-	+$521M-	+$1.85B-	+$1.90B-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMD SQLT	+18.14%n/a	+15.28%n/a	+16.97%n/a	+18.31%n/a
Max drawdown	FSMD SQLT	-4.02%n/a	-8.28%n/a	-22.27%n/a	-22.27%n/a
Max drawdown duration	FSMD SQLT	16dn/a	43dn/a	289dn/a	289dn/a

Trading data

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	FSMD	SQLT
Last sale 6/18/2026 at 1:30 PM	$51.57	$28.21
Previous close 06/18/2026	$51.01	$27.84
Consolidated volume 06/18/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 29, 2026

1-year trailing difference

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

Main metrics

Last update 6/18/2026 at 1:30 PM

Live

Closed

	FSMD	SQLT
Last price	$51.57	$28.21
1D performance	+1.10%	+1.33%
AuM	$2.52 B	$6.78 M
E/R	0.15%	0.2%

Characteristics

	FSMD	SQLT
Management strategy	Passive	Passive
Provider	Fidelity	iShares
Benchmark	Fidelity Small-Mid Multifactor Index	MSCI USA Small Cap Sector Neutral Quality Index
N° of holdings	556	451
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	February 26, 2019	March 31, 2026
ESG	No	No

More FSMD data on Trackinsight

More SQLT data on Trackinsight

Exposure

Countries

FSMD

USA

92.51%

Other

7.49%

SQLT

USA

97.19%

Other

2.81%

Sectors

FSMD

Industrials

19.56%

Financials

14.7%

Information Techn.

14.6%

Health Care

10.83%

Consumer Discreti.

9.9%

Other

30.4%

SQLT

Industrials

16.76%

Information Techn.

16.23%

Financials

15.45%

Health Care

11.92%

Consumer Discreti.

11.53%

Other

28.11%

Diversification

FSMD

Total weight of top 15 holdings out of 15

10.75%

SQLT

Total weight of top 15 holdings out of 15

12.89%

Top 15 holdings

Data as of April 30, 2026

FSMD

US80004C2008

2.11%

CIENA

1.07%

LUMENTUM HOLDINGS

0.94%

COMFORT SYSTEMS USA

0.92%

US19247G1076

0.77%

GB00BRXH2664

0.62%

EMCOR GROUP

0.58%

FLEX LTD

0.53%

TECHNIPFMC PLC

0.52%

CASEYS GENERAL STORES

0.51%

TAPESTRY INC

0.49%

FABRINET

0.44%

REVOLUTION MEDICINES INC

0.42%

UTD THERAPEUT

0.42%

CURTISS WRIGHT

0.41%

SQLT

US0669224778

1.52%

FABRINET

1.28%

ROYAL GOLD

1.08%

NEW YORK TIMES

0.96%

WOODWARD

0.84%

EAST WEST BANCORP

0.83%

CARPENTER TECHNOLOGY

0.81%

BWX TECHNOLOGIES INC

0.80%

LATTICE SEMICONDUCTOR

0.73%

ITT

0.72%

LINCOLN ELECTRIC HOLDINGS

0.71%

EVERCORE INC

0.68%

TD SYNNEX

0.66%

NFG

0.65%

MUELLER INDUSTRIES

0.63%

Frequently asked questions about FSMD and SQLT

Which ETF is bigger: FSMD or SQLT?

As of June 18, 2026, FSMD holds $2.52 B in assets under management (AUM), while SQLT manages $6.78 M.

What sectors do the FSMD and SQLT ETFs invest in?

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

FSMDvsSQLTETF Comparison

Fidelity Small-Mid Multifactor ETF

iShares MSCI USA Small-Cap Quality Factor ETF

FSMD vs SQLT 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

Which ETF is bigger: FSMD or SQLT?

As of June 18, 2026, FSMD holds $2.52 B in assets under management (AUM), while SQLT manages $6.78 M.

What sectors do the FSMD and SQLT ETFs invest in?

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

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

FSMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. SQLT holds in its top three: US0669224778, FABRINET and ROYAL GOLD.

Which ETF is more diversified: FSMD or SQLT?

FSMD holds 592 securities with 10.75% of its assets in the top 15. SQLT has 483 securities and a top 15 weight of 12.89%.

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