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MSSMvsFSMDETF Comparison
Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. MSSM's top 3 sector exposures are Industrials, Information Technology and Financials. In contrast, FSMD's top sector exposures are Industrials, Financials and Information Technology. MSSM is more expensive with a Total Expense Ratio (TER) of 0.9%, versus 0.15% for FSMD. MSSM is up 4.46% year-to-date (YTD) with -$8M in YTD flows. FSMD performs worse with 2.49% YTD performance, and +$166M in YTD flows. Run a side-by-side ETF comparison of MSSM 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.
MSSM vs FSMD performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM FSMD | -4.26%-4.42% | +3.76%+1.04% | +4.46%+2.49% | +26.21%+18.23% | n/a+49.31% | n/a+49.54% |
| Flows | MSSM FSMD | -+$55M | +$7M+$210M | -$8M+$166M | +$49M+$1.02B | -+$1.76B | -+$1.81B |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM FSMD | +17.20%+13.85% | +22.05%+18.99% | n/a+16.92% | n/a+18.24% |
| Max drawdown | MSSM FSMD | -5.51%-5.58% | -16.45%-13.29% | n/a-22.27% | n/a-22.27% |
| Max drawdown duration | MSSM FSMD | 11d12d | 49d46d | n/a289d | n/a289d |
MSSM | FSMD | |
Last sale 3/11/2026 at 1:30 PM | $52.42 | $45.13 |
| Previous close 03/10/2026 | $52.52 | $45.15 |
| Consolidated volume 03/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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MSSM | FSMD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
MSSM | FSMD | |
|---|---|---|
| Last price | $52.42 | $45.13 |
| 1D performance | -0.19% | -0.04% |
| AuM | $704.97 M | $2.12 B |
| E/R | 0.9% | 0.15% |
MSSM | FSMD | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Morgan Stanley | Fidelity |
| Benchmark | - | Fidelity Small-Mid Multifactor Index |
| N° of holdings | 1919 | 546 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 9, 2024 | February 26, 2019 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the MSSM and FSMD ETFs performed in 2026?
As of March 9, 2026, MSSM is up 4.46% year-to-date (YTD), while FSMD has returned 2.49%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: MSSM or FSMD?
Year-to-date, the MSSM ETF saw -$8M in flows, compared to +$166M for FSMD.
Which ETF is more volatile: MSSM or FSMD?
Over the past year, MSSM had a volatility of 22.05%, while FSMD experienced 18.99%.
Which ETF is bigger: MSSM or FSMD?
As of March 9, 2026, MSSM holds $704.97 M in assets under management (AUM), while FSMD manages $2.12 B.
What sectors do the MSSM and FSMD ETFs invest in?
MSSM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, FSMD focuses on Industrials, Financials and Information Technology.
What are the top holdings of the MSSM ETF and FSMD ETF?
MSSM top holdings include US04351P1012, TECHNIPFMC PLC and COMFORT SYSTEMS USA. FSMD holds in its top three: GB00BRXH2664, CIENA and COMFORT SYSTEMS USA.
Which ETF is more diversified: MSSM or FSMD?
MSSM holds 1968 securities with 10.34% of its assets in the top 15. FSMD has 584 securities and a top 15 weight of 7.83%.
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