ITWOvsFESMETF Comparison
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ProShares Russell 2000 High Income ETF (ITWO) belongs to the Options Strategies segment. Fidelity Enhanced Small Cap ETF (FESM) is part of the US Small Cap segment. ITWO's top 3 sector exposures are Finance, Healthcare and Technology. In contrast, FESM's top sector exposures are Finance, Technology and Healthcare. ITWO is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.28% for FESM. ITWO is up 19.06% year-to-date (YTD) with +$73M in YTD flows. FESM performs better with 23.46% YTD performance, and +$1.70B in YTD flows. Run a side-by-side ETF comparison of ITWO 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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ITWO vs FESM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ITWO FESM | -3.20%-3.06% | +7.05%+9.05% | +19.06%+23.46% | +30.61%+41.48% | n/an/a | n/an/a |
| Flows | ITWO FESM | +$7M+$50M | +$12M+$750M | +$73M+$1.70B | +$116M+$2.73B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ITWO FESM | +18.40%+18.73% | +18.51%+19.44% | n/an/a | n/an/a |
| Max drawdown | ITWO FESM | -4.67%-4.69% | -9.74%-10.11% | n/an/a | n/an/a |
| Max drawdown duration | ITWO FESM | 16d16d | 81d81d | n/an/a | n/an/a |
Trading data
ITWO | FESM | |
Last sale 7/30/2026 at 5:24 PM | $45.43 | $46.71 |
| Previous close 07/29/2026 | $45.01 | $46.38 |
| Consolidated volume 07/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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FESM
is actively managed and doesn’t replicate an indexITWO | FESM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/30/2026 at 5:24 PM
Live
Closed
ITWO | FESM | |
|---|---|---|
| Last price | $45.43 | $46.71 |
| 1D performance | +0.93% | +0.71% |
| AuM | $195.47 M | $5.98 B |
| E/R | 0.55% | 0.28% |
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Exposure
Countries
ITWO
USA
79.77%
Other
20.23%
FESM
USA
96.65%
Other
3.35%
Sectors
ITWO
Finance
19.62%
Healthcare
14.67%
Technology
14.21%
Industrials
13.15%
Other
38.35%
FESM
Finance
21.69%
Technology
19.76%
Healthcare
17.83%
Industrials
13.24%
Other
27.48%
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Diversification
ITWO
Total weight of top 15 holdings out of 15
8.3%
FESM
Total weight of top 15 holdings out of 15
11.5%
Top 15 holdings
Data as of June 30, 2026
ITWO
Bloom Energy Corp.
1.76%
Credo Technology Group Holding Ltd.
1.07%
Sterling Infrastructure, Inc.
0.64%
TTM Technologies, Inc.
0.53%
Fabrinet
0.50%
IonQ, Inc.
0.46%
Nextpower, Inc.
0.42%
Guardant Health, Inc.
0.42%
Coeur Mining, Inc.
0.39%
SiTime Corp.
0.38%
Semtech Corp.
0.36%
Modine Manufacturing Co.
0.36%
Dycom Industries, Inc.
0.35%
Advanced Energy Industries, Inc.
0.33%
EchoStar Corp.
0.33%
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 ITWO and FESM
How have the ITWO and FESM ETFs performed in 2026?
As of July 29, 2026, ITWO is up 19.06% year-to-date (YTD), while FESM has returned 23.46%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: ITWO or FESM?
Year-to-date, the ITWO ETF saw +$73M in flows, compared to +$1.70B for FESM.
Which ETF is more volatile: ITWO or FESM?
Over the past year, ITWO had a volatility of 18.51%, while FESM experienced 19.44%.
Which ETF is bigger: ITWO or FESM?
As of July 29, 2026, ITWO holds $195.47 M in assets under management (AUM), while FESM manages $5.98 B.
What sectors do the ITWO and FESM ETFs invest in?
ITWO leans toward sectors like Finance, Healthcare and Technology. Meanwhile, FESM focuses on Finance, Technology and Healthcare.
What are the top holdings of the ITWO ETF and FESM ETF?
ITWO top holdings include Bloom Energy Corp., Credo Technology Group Holding Ltd. and Sterling Infrastructure, Inc.. FESM holds in its top three: Guardant Health, Inc., ACM Research, Inc. and Kulicke & Soffa Industries, Inc..
Which ETF is more diversified: ITWO or FESM?
ITWO holds 1866 securities with 8.3% 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 ITWO & FESM
Notable ETF Filings and Launches Recap: September 2024
September 26, 2024
ITWO
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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