FSMLvsFESMETF Comparison
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Franklin Small Cap Enhanced ETF (FSML) belongs to the US Multi-Factor segment. Fidelity Enhanced Small Cap ETF (FESM) is part of the US Small Cap segment. Both ETFs have the same top 3 sector exposures: Finance, Technology and Healthcare. FSML is more expensive with a Total Expense Ratio (TER) of 0.45%, versus 0.28% for FESM. FSML is up 20.75% year-to-date (YTD) with +$128M in YTD flows. FESM performs better with 24.67% YTD performance, and +$1.71B in YTD flows. Run a side-by-side ETF comparison of FSML and FESM 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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FSML vs FESM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/30/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FSML FESM | -3.80%-2.93% | +6.23%+7.96% | +20.75%+24.67% | n/a+42.77% | n/an/a | n/an/a |
| Flows | FSML FESM | +$27M+$437M | +$13M+$752M | +$128M+$1.71B | -+$2.74B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FSML FESM | +19.67%+18.43% | n/a+19.46% | n/an/a | n/an/a |
| Max drawdown | FSML FESM | -5.11%-4.69% | n/a-10.11% | n/an/a | n/an/a |
| Max drawdown duration | FSML FESM | 30d16d | n/a81d | n/an/a | n/an/a |
Trading data
FSML | FESM | |
Last sale 7/31/2026 at 1:30 PM | $29.62 | $46.63 |
| Previous close 07/30/2026 | $29.80 | $46.83 |
| Consolidated volume 07/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/31/2026 at 1:30 PM
Live
Closed
FSML | FESM | |
|---|---|---|
| Last price | $29.62 | $46.63 |
| 1D performance | -0.61% | -0.43% |
| AuM | $147.30 M | $6.05 B |
| E/R | 0.45% | 0.28% |
Characteristics
FSML | FESM | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Franklin Templeton | Fidelity |
| Benchmark | - | - |
| N° of holdings | 300 | 655 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 9, 2025 | November 20, 2023 |
| ESG | No | No |
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Exposure
Countries
FSML
USA
93.61%
Other
6.39%
FESM
USA
96.65%
Other
3.35%
Sectors
FSML
Finance
21.15%
Technology
20.07%
Healthcare
18.32%
Industrials
14.44%
Other
26.03%
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
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Diversification
FSML
Total weight of top 15 holdings out of 15
21.44%
FESM
Total weight of top 15 holdings out of 15
11.5%
Top 15 holdings
Data as of June 30, 2026
FSML
Bloom Energy Corp.
2.35%
Guardant Health, Inc.
1.94%
10X Genomics, Inc.
1.63%
GeneDx Holdings Corp.
1.60%
Vishay Intertechnology, Inc.
1.51%
Credo Technology Group Holding Ltd.
1.37%
Vicor Corp.
1.30%
Kulicke & Soffa Industries, Inc.
1.28%
BridgeBio Pharma, Inc.
1.28%
Axsome Therapeutics, Inc.
1.25%
Valley National Bancorp
1.22%
FormFactor, Inc.
1.22%
SiTime Corp.
1.20%
Dave, Inc.
1.17%
IES Holdings, Inc.
1.13%
FESM
Guardant Health, Inc.
1.19%
ACM Research, Inc.
0.82%
Kulicke & Soffa Industries, Inc.
0.80%
MaxLinear, Inc.
0.79%
Kodiak Gas Services, Inc.
0.79%
EnerSys
0.76%
StoneX Group, Inc.
0.76%
Plexus Corp.
0.75%
Commercial Metals Co.
0.72%
Extreme Networks, Inc.
0.70%
HealthEquity, Inc.
0.70%
Tenable Holdings, Inc.
0.69%
Axsome Therapeutics, Inc.
0.68%
Lumen Technologies, Inc. (Louisiana)
0.68%
Glacier Bancorp, Inc.
0.67%
Frequently asked questions about FSML and FESM
How have the FSML and FESM ETFs performed in 2026?
As of July 30, 2026, FSML is up 20.75% year-to-date (YTD), while FESM has returned 24.67%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: FSML or FESM?
Year-to-date, the FSML ETF saw +$128M in flows, compared to +$1.71B for FESM.
Which ETF is bigger: FSML or FESM?
As of July 30, 2026, FSML holds $147.30 M in assets under management (AUM), while FESM manages $6.05 B.
What sectors do the FSML and FESM ETFs invest in?
FSML leans toward sectors like Finance, Technology and Healthcare. Meanwhile, FESM focuses on Finance, Technology and Healthcare.
What are the top holdings of the FSML ETF and FESM ETF?
FSML top holdings include Bloom Energy Corp., Guardant Health, Inc. and 10X Genomics, Inc.. FESM holds in its top three: Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc..
Which ETF is more diversified: FSML or FESM?
FSML holds 301 securities with 21.44% of its assets in the top 15. FESM has 656 securities and a top 15 weight of 11.5%.
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Latest news about FSML & FESM
Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs
February 16, 2024
FESM
Fidelity Continues Trend of Mutual Fund Conversions to ETFs
November 27, 2023
FESM
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