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. SMLF's top 3 sector exposures are Finance, Technology and Healthcare. In contrast, FSMD's top sector exposures are Finance, Industrials and Technology. Both SMLF and FSMD have the same Total Expense Ratio (TER) of 0.15%. SMLF is up 15.07% year-to-date (YTD) with +$856M in YTD flows. FSMD performs better with 15.24% YTD performance, and +$316M 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 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMLF FSMD | -5.52%-5.03% | -1.76%-2.43% | +15.07%+15.24% | +16.19%+16.05% | +64.21%+57.38% | +68.00%+60.79% |
| Flows | SMLF FSMD | +$40M+$26M | +$154M+$68M | +$856M+$316M | +$1.38B+$510M | +$2.49B+$1.90B | +$2.25B+$1.96B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMLF FSMD | +14.29%+14.32% | +17.36%+15.33% | +19.91%+17.14% | +21.14%+18.29% |
| Max drawdown | SMLF FSMD | -5.84%-5.57% | -8.74%-8.28% | -26.10%-22.27% | -26.10%-22.27% |
| Max drawdown duration | SMLF FSMD | 29d44d | 81d43d | 266d289d | 266d289d |
Trading data
SMLF | FSMD | |
Last sale 9/15/2026 at 1:30 PM | $84.89 | $50.20 |
| Previous close 09/14/2026 | $85.67 | $50.49 |
| Consolidated volume 09/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 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 9/15/2026 at 1:30 PM
Live
Closed
SMLF | FSMD | |
|---|---|---|
| Last price | $84.89 | $50.20 |
| 1D performance | -0.91% | -0.57% |
| AuM | $4.14 B | $2.52 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 | 890 | 586 |
| 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
93.28%
Other
6.72%
FSMD
USA
95.51%
Other
4.49%
Sectors
SMLF
Finance
21.93%
Technology
17.24%
Healthcare
14.67%
Industrials
13.83%
Non-Energy Materi.
7.45%
Consumer Cyclical.
7.14%
Other
17.75%
FSMD
Finance
23.71%
Industrials
16.08%
Technology
15.89%
Healthcare
12.78%
Non-Energy Materi.
7.81%
Other
23.74%
Diversification
SMLF
Total weight of top 15 holdings out of 15
10.16%
FSMD
Total weight of top 15 holdings out of 15
9.86%
Top 15 holdings
Data as of July 31, 2026
SMLF
EMCOR Group, Inc.
0.95%
Interactive Brokers Group, Inc.
0.86%
BlackRock Cash Funds - Treasury
0.83%
Flex Ltd.
0.77%
nVent Electric Plc
0.75%
Jabil, Inc.
0.74%
Astera Labs, Inc.
0.67%
Tapestry, Inc.
0.66%
Natera, Inc.
0.62%
Williams-Sonoma, Inc.
0.62%
Mueller Industries, Inc.
0.59%
Reliance, Inc.
0.55%
Popular, Inc.
0.54%
Tenet Healthcare Corp.
0.51%
Credo Technology Group Holding Ltd.
0.50%
FSMD
Sandisk Corp.
2.09%
Comfort Systems USA, Inc.
0.83%
Ciena Corp.
0.72%
Lumentum Holdings, Inc.
0.69%
Flex Ltd.
0.65%
Revolution Medicines, Inc.
0.58%
Coherent Corp.
0.56%
Casey's General Stores, Inc.
0.54%
Tapestry, Inc.
0.49%
Anglogold Ashanti Plc
0.48%
TechnipFMC plc
0.48%
EMCOR Group, Inc.
0.47%
Carpenter Technology Corp.
0.45%
Curtiss-Wright Corp.
0.42%
Tenet Healthcare Corp.
0.41%
Frequently asked questions about SMLF and FSMD
How have the SMLF and FSMD ETFs performed in 2026?
As of September 14, 2026, SMLF is up 15.07% year-to-date (YTD), while FSMD has returned 15.24%. 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 +$856M in flows, compared to +$316M for FSMD.
Which ETF is more volatile: SMLF or FSMD?
Over the past year, SMLF had a volatility of 17.36%, while FSMD experienced 15.33%.
Which ETF is bigger: SMLF or FSMD?
As of September 14, 2026, SMLF holds $4.14 B in assets under management (AUM), while FSMD manages $2.52 B.
What sectors do the SMLF and FSMD ETFs invest in?
SMLF leans toward sectors like Finance, Technology and Healthcare. Meanwhile, FSMD focuses on Finance, Industrials and Technology.
What are the top holdings of the SMLF ETF and FSMD ETF?
SMLF top holdings include EMCOR Group, Inc., Interactive Brokers Group, Inc. and BlackRock Cash Funds - Treasury. FSMD holds in its top three: Sandisk Corp., Comfort Systems USA, Inc. and Ciena Corp..
Which ETF is more diversified: SMLF or FSMD?
SMLF holds 891 securities with 10.16% of its assets in the top 15. FSMD has 586 securities and a top 15 weight of 9.86%.
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