IWMvsFSMLETF Comparison
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iShares Russell 2000 ETF (IWM) belongs to the US Small Cap segment. Franklin Small Cap Enhanced ETF (FSML) is part of the US Multi-Factor segment. 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 0.45% for FSML. IWM is up 12.8% year-to-date (YTD) with -$7.92B in YTD flows. FSML performs better with 16.93% YTD performance, and +$136M in YTD flows. Run a side-by-side ETF comparison of IWM and FSML 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 FSML 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 FSML | -2.13%-1.10% | -5.28%-3.58% | +12.80%+16.93% | +13.07%n/a | +72.87%n/a | +27.92%n/a |
| Flows | IWM FSML | -$328M+$6M | -$1.69B+$7M | -$7.92B+$136M | -$3.36B- | -$3.41B- | -$7.73B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IWM FSML | +13.94%+14.63% | +18.21%n/a | +21.10%n/a | +22.45%n/a |
| Max drawdown | IWM FSML | -11.10%-9.19% | -11.10%n/a | -27.52%n/a | -31.96%n/a |
| Max drawdown duration | IWM FSML | 68d68d | 68dn/a | 289dn/a | 1093dn/a |
Trading data
IWM | FSML | |
Last sale 10/23/2026 at 1:30 PM | $275.75 | $28.81 |
| Previous close 10/22/2026 | $276.67 | $28.96 |
| 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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FSML
is actively managed and doesn’t replicate an indexIWM | FSML | |
|---|---|---|
| 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 | FSML | |
|---|---|---|
| Last price | $275.75 | $28.81 |
| 1D performance | -0.33% | -0.52% |
| AuM | $74.21 B | $149.84 M |
| E/R | 0.19% | 0.45% |
Characteristics
IWM | FSML | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | Franklin Templeton |
| Benchmark | Russell 2000 Index | - |
| N° of holdings | 1940 | 297 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 22, 2000 | December 9, 2025 |
| ESG | No | No |
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Exposure
Countries
IWM
USA
94.99%
Other
5.01%
FSML
USA
93.67%
Other
6.33%
Sectors
IWM
Finance
26.05%
Healthcare
20.69%
Technology
11.8%
Industrials
10.33%
Other
31.12%
FSML
Finance
24.2%
Healthcare
21.54%
Technology
12.85%
Industrials
11.1%
Energy
7.39%
Other
22.92%
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Diversification
IWM
Total weight of top 15 holdings out of 15
4.62%
FSML
Total weight of top 15 holdings out of 15
20.28%
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%
FSML
10X Genomics, Inc.
1.88%
Jackson Financial, Inc.
1.55%
Oceaneering International, Inc.
1.44%
Core Natural Resources, Inc.
1.39%
Acadian Asset Management, Inc.
1.39%
GeneDx Holdings Corp.
1.39%
Korn Ferry
1.34%
Box, Inc.
1.30%
TG Therapeutics, Inc.
1.28%
Tutor Perini Corp.
1.28%
ACADIA Pharmaceuticals, Inc.
1.25%
Krystal Biotech, Inc.
1.24%
Xenon Pharmaceuticals, Inc.
1.22%
National Energy Services Reunited Corp.
1.19%
Valley National Bancorp
1.17%
Frequently asked questions about IWM and FSML
How have the IWM and FSML ETFs performed in 2026?
As of October 23, 2026, IWM is up 12.8% year-to-date (YTD), while FSML has returned 16.93%. That puts FSML better performer ahead so far this year.
Which ETF is attracting more investor money: IWM or FSML?
Year-to-date, the IWM ETF saw -$7.92B in flows, compared to +$136M for FSML.
Which ETF is bigger: IWM or FSML?
As of October 23, 2026, IWM holds $74.21 B in assets under management (AUM), while FSML manages $149.84 M.
What sectors do the IWM and FSML ETFs invest in?
IWM leans toward sectors like Finance, Healthcare and Technology. Meanwhile, FSML focuses on Finance, Healthcare and Technology.
What are the top holdings of the IWM ETF and FSML ETF?
IWM top holdings include JFrog Ltd., Moog, Inc. and UMB Financial Corp.. FSML holds in its top three: 10X Genomics, Inc., Jackson Financial, Inc. and Oceaneering International, Inc..
Which ETF is more diversified: IWM or FSML?
IWM holds 1953 securities with 4.62% of its assets in the top 15. FSML has 298 securities and a top 15 weight of 20.28%.
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