MSMLvsFSMDETF Comparison
VS
iShares Morningstar Small-Cap ETF (MSML) belongs to the US Small Cap segment. Fidelity Small-Mid Multifactor ETF (FSMD) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Finance, Healthcare and Technology. MSML is less expensive with a Total Expense Ratio (TER) of 0.04%, versus 0.15% for FSMD. MSML is up 12.52% year-to-date (YTD) with -$7M in YTD flows. FSMD performs better with 15.26% YTD performance, and +$351M in YTD flows. Run a side-by-side ETF comparison of MSML and FSMD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
MSML vs FSMD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/05/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSML FSMD | -2.83%-1.27% | -3.44%-2.57% | +12.52%+15.26% | +13.83%+15.73% | +65.41%+65.55% | +37.60%+58.74% |
| Flows | MSML FSMD | -+$50M | -+$77M | -$7M+$351M | -$10M+$452M | -$25M+$1.93B | -$23M+$2.00B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSML FSMD | +11.93%+12.46% | +16.04%+15.26% | +19.35%+17.07% | +21.21%+18.21% |
| Max drawdown | MSML FSMD | -8.03%-7.33% | -9.38%-8.28% | -25.75%-22.27% | -30.04%-22.27% |
| Max drawdown duration | MSML FSMD | 50d49d | 65d43d | 289d289d | 1067d289d |
Trading data
MSML | FSMD | |
Last sale 10/5/2026 at 1:30 PM | $50.23 | |
| Previous close 10/02/2026 | $50.17 | |
| Consolidated volume 10/02/2026 | ||
| 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
Create an account to view replication metrics
Join for free
MSML | FSMD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/5/2026 at 1:30 PM
Live
Closed
MSML | FSMD | |
|---|---|---|
| Last price | – | $50.23 |
| 1D performance | – | +0.12% |
| AuM | $275.31 M | $2.55 B |
| E/R | 0.04% | 0.15% |
Characteristics
MSML | FSMD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Fidelity |
| Benchmark | Morningstar US Small Cap Extended Index | Fidelity Small-Mid Multifactor Index |
| N° of holdings | 1551 | 599 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 28, 2004 | February 26, 2019 |
| ESG | No | No |
Advertisement
Exposure
Countries
MSML
USA
96.82%
Other
3.18%
FSMD
USA
95.78%
Other
4.22%
Sectors
MSML
Finance
25.39%
Healthcare
15.31%
Technology
14.44%
Industrials
12.88%
Other
31.99%
FSMD
Finance
24.45%
Healthcare
15.28%
Technology
15.22%
Industrials
13.1%
Other
31.94%
Diversification
MSML
Total weight of top 15 holdings out of 15
4.58%
FSMD
Total weight of top 15 holdings out of 15
5.35%
Top 15 holdings
Data as of August 31, 2026
MSML
Atlassian Corp.
0.48%
Okta, Inc.
0.46%
BlackRock Cash Funds - Treasury
0.38%
Roku, Inc.
0.32%
Guardant Health, Inc.
0.32%
Nutanix, Inc.
0.29%
Zebra Technologies Corp.
0.27%
Jones Lang LaSalle, Inc.
0.27%
Gen Digital, Inc.
0.27%
Guidewire Software, Inc.
0.26%
TransUnion
0.26%
Nordson Corp.
0.25%
Dynatrace, Inc.
0.25%
Reinsurance Group of America, Inc.
0.25%
Jazz Pharmaceuticals Plc
0.25%
FSMD
Everpure, Inc.
0.50%
Tenet Healthcare Corp.
0.40%
nVent Electric Plc
0.39%
Guardant Health, Inc.
0.38%
Incyte Corp.
0.37%
Nutanix, Inc.
0.35%
Permian Resources Corp.
0.35%
Loews Corp.
0.34%
East West Bancorp, Inc.
0.34%
TD SYNNEX Corp.
0.34%
Gen Digital, Inc.
0.33%
Reinsurance Group of America, Inc.
0.32%
HF Sinclair Corp.
0.32%
MKS, Inc.
0.31%
Zebra Technologies Corp.
0.31%
Frequently asked questions about MSML and FSMD
How have the MSML and FSMD ETFs performed in 2026?
As of October 5, 2026, MSML is up 12.52% year-to-date (YTD), while FSMD has returned 15.26%. That puts FSMD better performer ahead so far this year.
Which ETF is attracting more investor money: MSML or FSMD?
Year-to-date, the MSML ETF saw -$7M in flows, compared to +$351M for FSMD.
Which ETF is more volatile: MSML or FSMD?
Over the past year, MSML had a volatility of 16.04%, while FSMD experienced 15.26%.
Which ETF is bigger: MSML or FSMD?
As of October 5, 2026, MSML holds $275.31 M in assets under management (AUM), while FSMD manages $2.55 B.
What sectors do the MSML and FSMD ETFs invest in?
MSML leans toward sectors like Finance, Healthcare and Technology. Meanwhile, FSMD focuses on Finance, Healthcare and Technology.
What are the top holdings of the MSML ETF and FSMD ETF?
MSML top holdings include Atlassian Corp., Okta, Inc. and BlackRock Cash Funds - Treasury. FSMD holds in its top three: Everpure, Inc., Tenet Healthcare Corp. and nVent Electric Plc.
Which ETF is more diversified: MSML or FSMD?
MSML holds 1566 securities with 4.58% of its assets in the top 15. FSMD has 599 securities and a top 15 weight of 5.35%.
Advertisement
Advertisement
