IWMvsFESMETF Comparison
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iShares Russell 2000 ETF (IWM) and Fidelity Enhanced Small Cap ETF (FESM) belong to the same industry segment: US Small Cap. Both ETFs have the same top 3 sector exposures: Finance, Healthcare and Technology. IWM is less expensive with a Total Expense Ratio (TER) of 0.19%, versus 0.28% for FESM. IWM is up 12.8% year-to-date (YTD) with -$7.92B in YTD flows. FESM performs better with 20.13% YTD performance, and +$2.53B in YTD flows. Run a side-by-side ETF comparison of IWM 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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IWM vs FESM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IWM FESM | -2.13%-0.61% | -5.28%-3.48% | +12.80%+20.13% | +13.07%+21.99% | +72.87%n/a | +27.92%n/a |
| Flows | IWM FESM | -$328M+$284M | -$1.69B+$900M | -$7.92B+$2.53B | -$3.36B+$2.97B | -$3.41B- | -$7.73B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IWM FESM | +13.94%+13.59% | +18.21%+18.17% | +21.10%n/a | +22.45%n/a |
| Max drawdown | IWM FESM | -11.10%-9.37% | -11.10%-10.11% | -27.52%n/a | -31.96%n/a |
| Max drawdown duration | IWM FESM | 68d68d | 68d81d | 289dn/a | 1093dn/a |
Trading data
IWM | FESM | |
Last sale 10/23/2026 at 1:30 PM | $275.75 | $45.02 |
| Previous close 10/22/2026 | $276.67 | $45.21 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FESM
is actively managed and doesn’t replicate an indexIWM | 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 10/23/2026 at 1:30 PM
Live
Closed
IWM | FESM | |
|---|---|---|
| Last price | $275.75 | $45.02 |
| 1D performance | -0.33% | -0.42% |
| AuM | $74.21 B | $6.61 B |
| E/R | 0.19% | 0.28% |
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Exposure
Countries
IWM
USA
94.99%
Other
5.01%
FESM
USA
96.11%
Other
3.89%
Sectors
IWM
Finance
26.05%
Healthcare
20.69%
Technology
11.8%
Industrials
10.33%
Other
31.12%
FESM
Finance
22.73%
Healthcare
21.4%
Technology
17.24%
Industrials
11.07%
Other
27.55%
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Diversification
IWM
Total weight of top 15 holdings out of 15
4.62%
FESM
Total weight of top 15 holdings out of 15
9.91%
Top 15 holdings
Data as of August 31, 2026
IWM
JFrog Ltd.
0.35%
Moog, Inc.
0.34%
UMB Financial Corp.
0.34%
Glaukos Corp.
0.33%
BlackRock Cash Funds - Treasury
0.33%
Brinker International, Inc.
0.32%
BrightSpring Health Services, Inc.
0.30%
Krystal Biotech, Inc.
0.30%
Cytokinetics, Inc.
0.30%
Old National Bancorp
0.29%
Protagonist Therapeutics, Inc.
0.29%
SM Energy Co.
0.29%
Twist Bioscience Corp.
0.28%
FirstCash Holdings, Inc.
0.28%
CareTrust REIT, Inc.
0.28%
FESM
Commercial Metals Co.
0.77%
Installed Building Products, Inc.
0.71%
Oscar Health, Inc.
0.71%
Tenable Holdings, Inc.
0.70%
Option Care Health, Inc.
0.68%
Plexus Corp.
0.66%
HealthEquity, Inc.
0.65%
Tutor Perini Corp.
0.65%
Kodiak Gas Services, Inc.
0.64%
Griffon Corp.
0.64%
Glaukos Corp.
0.63%
EnerSys
0.63%
OUTFRONT Media, Inc.
0.62%
Phillips Edison & Co., Inc.
0.62%
Balchem Corp.
0.60%
Frequently asked questions about IWM and FESM
How have the IWM and FESM ETFs performed in 2026?
As of October 23, 2026, IWM is up 12.8% year-to-date (YTD), while FESM has returned 20.13%. That puts FESM better performer ahead so far this year.
Which ETF is attracting more investor money: IWM or FESM?
Year-to-date, the IWM ETF saw -$7.92B in flows, compared to +$2.53B for FESM.
Which ETF is more volatile: IWM or FESM?
Over the past year, IWM had a volatility of 18.21%, while FESM experienced 18.17%.
Which ETF is bigger: IWM or FESM?
As of October 23, 2026, IWM holds $74.21 B in assets under management (AUM), while FESM manages $6.61 B.
What sectors do the IWM and FESM ETFs invest in?
IWM leans toward sectors like Finance, Healthcare and Technology. Meanwhile, FESM focuses on Finance, Healthcare and Technology.
What are the top holdings of the IWM ETF and FESM ETF?
IWM top holdings include JFrog Ltd., Moog, Inc. and UMB Financial Corp.. FESM holds in its top three: Commercial Metals Co., Installed Building Products, Inc. and Oscar Health, Inc..
Which ETF is more diversified: IWM or FESM?
IWM holds 1953 securities with 4.62% of its assets in the top 15. FESM has 795 securities and a top 15 weight of 9.91%.
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