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NBSMvsFSMDETF Comparison

ETF 1

NBSM

Neuberger Berman Small-Mid Cap ETF

This fund is part of

US Multi-Factor

-0.05%

Full NBSM fund page

VS

ETF 2

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

-0.05%

Full FSMD fund page

Neuberger Berman Small-Mid Cap ETF (NBSM) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. NBSM's top 3 sector exposures are Industrials, Information Technology and Financials. In contrast, FSMD's top sector exposures are Industrials, Financials and Information Technology. NBSM is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.15% for FSMD. NBSM is up 6.2% year-to-date (YTD) with +$13M in YTD flows. FSMD performs better with 9.28% YTD performance, and +$233M in YTD flows. Run a side-by-side ETF comparison of NBSM 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.

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NBSM vs FSMD performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NBSM FSMD	+8.80%+10.53%	+1.34%+4.93%	+6.20%+9.28%	+16.37%+26.67%	n/a+56.84%	n/a+50.92%
Flows	NBSM FSMD	+$1M+$32M	+$12M+$192M	+$13M+$233M	+$54M+$495M	-+$1.83B	-+$1.88B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NBSM FSMD	+15.88%+17.88%	+15.15%+15.03%	n/a+16.95%	n/a+18.31%
Max drawdown	NBSM FSMD	-10.22%-8.28%	-10.22%-8.28%	n/a-22.27%	n/a-22.27%
Max drawdown duration	NBSM FSMD	76d43d	76d43d	n/a289d	n/a289d

Trading data

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	NBSM	FSMD
Last sale 4/29/2026 at 7:59 PM	$26.56	$48.63
Previous close 04/29/2026	$26.79	$47.95
Consolidated volume 04/29/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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NBSM

is actively managed and doesn’t replicate an index

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	NBSM	FSMD
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/29/2026 at 7:59 PM

Live

Closed

	NBSM	FSMD
Last price	$26.56	$48.63
1D performance	-0.88%	+1.42%
AuM	$225.39 M	$2.32 B
E/R	0.75%	0.15%

Characteristics

	NBSM	FSMD
Management strategy	Active	Passive
Provider	Neuberger Berman	Fidelity
Benchmark	-	Fidelity Small-Mid Multifactor Index
N° of holdings	65	560
Asset class	-	Equities
Trailing 12m distribution yield	Join	Join
Inception date	March 21, 2024	February 26, 2019
ESG	Yes	No

More NBSM data on Trackinsight

More FSMD data on Trackinsight

Exposure

Countries

NBSM

USA

87.28%

Other

12.72%

FSMD

USA

92.6%

Other

7.4%

Sectors

NBSM

Industrials

30.64%

Information Techn.

17.52%

Financials

16.06%

Other

35.78%

FSMD

Industrials

19.48%

Financials

14.58%

Information Techn.

13.34%

Health Care

11.29%

Consumer Discreti.

10.19%

Other

31.12%

Diversification

NBSM

Total weight of top 15 holdings out of 15

32.44%

FSMD

Total weight of top 15 holdings out of 15

9.31%

Top 15 holdings

Data as of March 31, 2026

NBSM

TIDEWATER

2.49%

KIRBY

2.47%

VALMONT INDUSTRS

2.39%

WHITE MTN INS

2.34%

LITTELFUSE

2.26%

ARCOSA INC

2.20%

BRADY NON VOTING

2.19%

UGI

2.11%

APTARGROUP

2.10%

CNX RESOURCES CORP

2.10%

COMMUNITY BANK SYSTEM

2.03%

GATES INDUSTRIAL CORPORATION PLC

2.00%

TORO

1.97%

MKS INSTRUMENTS

1.92%

STEWART INFO SVC

1.86%

FSMD

US80004C2008

1.35%

CIENA

0.95%

LUMENTUM HOLDINGS

0.83%

COMFORT SYSTEMS USA

0.78%

US19247G1076

0.65%

GB00BRXH2664

0.62%

TECHNIPFMC PLC

0.54%

EMCOR GROUP

0.54%

TAPESTRY INC

0.51%

CASEYS GENERAL STORES

0.51%

UTD THERAPEUT

0.43%

FLEX LTD

0.43%

CURTISS WRIGHT

0.42%

APA CORPORATION

0.38%

WOODWARD

0.37%

Frequently asked questions about NBSM and FSMD

How have the NBSM and FSMD ETFs performed in 2026?

As of April 28, 2026, NBSM is up 6.2% year-to-date (YTD), while FSMD has returned 9.28%. That puts FSMD better performer ahead so far this year.

Which ETF is attracting more investor money: NBSM or FSMD?

Year-to-date, the NBSM ETF saw +$13M in flows, compared to +$233M for FSMD.

Which ETF is more volatile: NBSM or FSMD?

Over the past year, NBSM had a volatility of 15.15%, while FSMD experienced 15.03%.

Which ETF is bigger: NBSM or FSMD?

As of April 28, 2026, NBSM holds $225.39 M in assets under management (AUM), while FSMD manages $2.32 B.

What sectors do the NBSM and FSMD ETFs invest in?

NBSM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, FSMD focuses on Industrials, Financials and Information Technology.

NBSMvsFSMDETF Comparison

Neuberger Berman Small-Mid Cap ETF

Fidelity Small-Mid Multifactor ETF

NBSM vs FSMD performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the NBSM and FSMD ETFs performed in 2026?

As of April 28, 2026, NBSM is up 6.2% year-to-date (YTD), while FSMD has returned 9.28%. That puts FSMD better performer ahead so far this year.

Which ETF is attracting more investor money: NBSM or FSMD?

Year-to-date, the NBSM ETF saw +$13M in flows, compared to +$233M for FSMD.

Which ETF is more volatile: NBSM or FSMD?

Over the past year, NBSM had a volatility of 15.15%, while FSMD experienced 15.03%.

Which ETF is bigger: NBSM or FSMD?

As of April 28, 2026, NBSM holds $225.39 M in assets under management (AUM), while FSMD manages $2.32 B.

What sectors do the NBSM and FSMD ETFs invest in?

NBSM 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 NBSM ETF and FSMD ETF?

NBSM top holdings include TIDEWATER, KIRBY and VALMONT INDUSTRS. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: NBSM or FSMD?

NBSM holds 65 securities with 32.44% of its assets in the top 15. FSMD has 595 securities and a top 15 weight of 9.31%.

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