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FSMDvsVBETF Comparison

ETF 1
FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of
US Multi-Factor
-1.26%
Full FSMD fund page
VS
ETF 2
VB

Vanguard Small Cap ETF

This fund is part of
US Small Cap
-1.92%
Full VB fund page

Fidelity Small-Mid Multifactor ETF (FSMD) belongs to the US Multi-Factor segment. Vanguard Small Cap ETF (VB) is part of the US Small Cap segment. FSMD's top 3 sector exposures are Industrials, Financials and Information Technology. In contrast, VB's top sector exposures are Industrials, Information Technology and Financials. FSMD is more expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.03% for VB. FSMD is up 0.37% year-to-date (YTD) with +$174M in YTD flows. VB performs better with 1.14% YTD performance, and +$423M in YTD flows. Run a side-by-side ETF comparison of FSMD and VB 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 VB performance and flow charts

Performance

-4.0-2.00.02.0%Feb 12Feb 20Feb 27Mar 6

Cumulative Flows

0 M100 M200 M300 M400 MFeb 12Feb 20Feb 27Mar 6

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Historic performance and flows
Data as of 03/12/2026
1M3MYTD1Y3Y5Y
Perf.
FSMD
VB
-4.95%-4.49%
-1.31%-0.34%
+0.37%+1.14%
+16.42%+19.21%
+48.92%+49.53%
+43.58%+26.68%
Flows
FSMD
VB
+$59M+$432M
+$219M+$488M
+$174M+$423M
+$1.02B+$528M
+$1.77B+$9.74B
+$1.82B+$15.60B
Volatility and drawdown
3M1Y3Y5Y
Volatility
FSMD
VB
+14.06%+16.19%
+19.08%+21.77%
+16.91%+18.88%
+18.25%+20.68%
Max drawdown
FSMD
VB
-6.89%-6.81%
-13.29%-15.79%
-22.27%-25.25%
-22.27%-28.14%
Max drawdown duration
FSMD
VB
14d14d
46d46d
289d296d
289d980d
Trading data

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FSMD
VB
Last sale
3/13/2026 at 1:30 PM
$44.17
$260.52
Previous close
03/12/2026
$44.23
$260.75
Consolidated volume
03/12/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of February 27, 2026
1-year trailing difference

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FSMD
VB
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
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Main metrics
Last update 3/13/2026 at 1:30 PM
Live
Closed
FSMD
VB
Last price
$44.17
$260.52
1D performance
-0.14%
-0.09%
AuM$2.08 B$70.18 B
E/R0.15%0.03%
Characteristics
FSMD
VB
Management strategyPassivePassive
ProviderFidelityVanguard
BenchmarkFidelity Small-Mid Multifactor IndexCRSP U.S. Small Cap Index
N° of holdings5461170
Asset classEquitiesEquities
Trailing 12m distribution yield
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Inception dateFebruary 26, 2019January 26, 2004
ESGNoNo
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Exposure

Countries

FSMD
USA
92.39%
Other
7.61%
VB
USA
92.72%
Other
7.28%

Sectors

FSMD
Industrials
20.07%
Financials
15.72%
Information Techn.
13.59%
Consumer Discreti.
11.33%
Health Care
10.81%
Other
28.48%
VB
Industrials
18.04%
Information Techn.
13.76%
Financials
11.75%
Health Care
10.95%
Consumer Discreti.
10.09%
Other
35.4%
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Diversification

FSMD

Total weight of top 15 holdings out of 15

7.83%
VB

Total weight of top 15 holdings out of 15

6.86%

Top 15 holdings

Data as of January 31, 2026
FSMD
GB00BRXH2664
0.92%
CIENA
0.75%
COMFORT SYSTEMS USA
0.72%
EMCOR GROUP
0.56%
TAPESTRY INC
0.48%
FLEX LTD
0.48%
TECHNIPFMC PLC
0.47%
UTD THERAPEUT
0.46%
CURTISS WRIGHT
0.45%
PURE STORAGE
0.44%
ROYAL GOLD
0.44%
CASEYS GENERAL STORES
0.43%
CH ROBINSON WW
0.42%
US75734B1008
0.41%
KRATOS DEFENSE AND SECURITY SOLS
0.39%
VB
US80004C2008
1.06%
US7731211089
0.57%
COMFORT SYSTEMS USA
0.53%
CIENA
0.47%
US19247G1076
0.44%
EMCOR GROUP
0.43%
BLOOM ENERGY CORP
0.43%
NATERA
0.40%
NRG ENERGY
0.39%
KYG3730V1059
0.37%
LUMENTUM HOLDINGS
0.37%
SOFI TECHNOLOGIES INC
0.36%
ATMOS ENERGY
0.36%
TAPESTRY INC
0.34%
CHESAPEAKE ENERGY
0.34%
Frequently asked questions about FSMD and VB

How have the FSMD and VB ETFs performed in 2026?

As of March 12, 2026, FSMD is up 0.37% year-to-date (YTD), while VB has returned 1.14%. That puts VB better performer ahead so far this year.

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

Year-to-date, the FSMD ETF saw +$174M in flows, compared to +$423M for VB.

Which ETF is more volatile: FSMD or VB?

Over the past year, FSMD had a volatility of 19.08%, while VB experienced 21.77%.

Which ETF is bigger: FSMD or VB?

As of March 12, 2026, FSMD holds $2.08 B in assets under management (AUM), while VB manages $70.18 B.

What sectors do the FSMD and VB ETFs invest in?

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

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

FSMD top holdings include GB00BRXH2664, CIENA and COMFORT SYSTEMS USA. VB holds in its top three: US80004C2008, US7731211089 and COMFORT SYSTEMS USA.

Which ETF is more diversified: FSMD or VB?

FSMD holds 584 securities with 7.83% of its assets in the top 15. VB has 1315 securities and a top 15 weight of 6.86%.

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