SMLFvsFSMDETF Comparison
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iShares U.S. Small-Cap Equity Factor ETF (SMLF) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Financials and Information Technology. Both SMLF and FSMD have the same Total Expense Ratio (TER) of 0.15%. SMLF is up 10.66% year-to-date (YTD) with +$502M in YTD flows. FSMD performs better with 11.66% YTD performance, and +$233M in YTD flows. Run a side-by-side ETF comparison of SMLF 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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SMLF vs FSMD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 05/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMLF FSMD | +8.60%+8.58% | +5.37%+6.87% | +10.66%+11.66% | +35.93%+29.22% | +69.95%+60.25% | +62.00%+54.84% |
| Flows | SMLF FSMD | +$60M+$23M | +$162M+$179M | +$502M+$233M | +$1.38B+$472M | +$1.99B+$1.83B | +$1.96B+$1.88B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMLF FSMD | +20.59%+18.13% | +17.66%+15.14% | +19.95%+16.96% | +21.23%+18.32% |
| Max drawdown | SMLF FSMD | -8.71%-8.28% | -8.74%-8.28% | -26.10%-22.27% | -26.10%-22.27% |
| Max drawdown duration | SMLF FSMD | 46d43d | 81d43d | 266d289d | 266d289d |
Trading data
SMLF | FSMD | |
Last sale 5/1/2026 at 1:30 PM | $82.53 | $49.05 |
| Previous close 04/29/2026 | $82.22 | $48.87 |
| 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 April 30, 2026
1-year trailing difference
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SMLF | FSMD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 5/1/2026 at 1:30 PM
Live
Closed
SMLF | FSMD | |
|---|---|---|
| Last price | $82.53 | $49.05 |
| 1D performance | +0.38% | +0.37% |
| AuM | $3.65 B | $2.37 B |
| E/R | 0.15% | 0.15% |
Characteristics
SMLF | FSMD | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Fidelity |
| Benchmark | STOXX U.S. Small-Cap Equity Factor USD Gross Return | Fidelity Small-Mid Multifactor Index |
| N° of holdings | 792 | 560 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 28, 2015 | February 26, 2019 |
| ESG | No | No |
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Exposure
Countries
SMLF
USA
90.67%
Other
9.33%
FSMD
USA
92.6%
Other
7.4%
Sectors
SMLF
Industrials
16.29%
Financials
14.3%
Information Techn.
13.5%
Health Care
12.77%
Consumer Discreti.
11.28%
Other
31.87%
FSMD
Industrials
19.48%
Financials
14.58%
Information Techn.
13.34%
Health Care
11.29%
Consumer Discreti.
10.19%
Other
31.12%
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Diversification
SMLF
Total weight of top 15 holdings out of 15
9.95%
FSMD
Total weight of top 15 holdings out of 15
9.31%
Top 15 holdings
Data as of March 31, 2026
SMLF
EMCOR GROUP
1.20%
US0669224778
0.95%
NVENT ELECTRIC PLC
0.76%
JABIL CIRCUIT
0.75%
INTERACTIVE BROKERS GROUP
0.72%
TAPESTRY INC
0.70%
MUELLER INDUSTRIES
0.62%
STERLING INFRASTRUCTURE INC
0.59%
UTD THERAPEUT
0.58%
WILLIAMS SONOMA
0.54%
FLEX LTD
0.53%
INSMED
0.52%
NATERA
0.52%
IDACORP
0.49%
RELIANCE STEEL
0.47%
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 SMLF and FSMD
How have the SMLF and FSMD ETFs performed in 2026?
As of May 1, 2026, SMLF is up 10.66% year-to-date (YTD), while FSMD has returned 11.66%. That puts FSMD better performer ahead so far this year.
Which ETF is attracting more investor money: SMLF or FSMD?
Year-to-date, the SMLF ETF saw +$502M in flows, compared to +$233M for FSMD.
Which ETF is more volatile: SMLF or FSMD?
Over the past year, SMLF had a volatility of 17.66%, while FSMD experienced 15.14%.
Which ETF is bigger: SMLF or FSMD?
As of May 1, 2026, SMLF holds $3.65 B in assets under management (AUM), while FSMD manages $2.37 B.
What sectors do the SMLF and FSMD ETFs invest in?
SMLF leans toward sectors like Industrials, Financials and Information Technology. Meanwhile, FSMD focuses on Industrials, Financials and Information Technology.
What are the top holdings of the SMLF ETF and FSMD ETF?
SMLF top holdings include EMCOR GROUP, US0669224778 and NVENT ELECTRIC PLC. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.
Which ETF is more diversified: SMLF or FSMD?
SMLF holds 892 securities with 9.95% of its assets in the top 15. FSMD has 595 securities and a top 15 weight of 9.31%.
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