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SMMDvsFSMDETF Comparison

ETF 1

SMMD

iShares Russell 2500 ETF

This fund is part of

US Multi-Factor

-0.03%

Full SMMD fund page

VS

ETF 2

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

-0.03%

Full FSMD fund page

iShares Russell 2500 ETF (SMMD) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. SMMD's top 3 sector exposures are Finance, Healthcare and Industrials. In contrast, FSMD's top sector exposures are Finance, Industrials and Technology. SMMD is more expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.15% for FSMD. SMMD is up 17.26% year-to-date (YTD) with +$1.49B in YTD flows. FSMD performs worse with 14.23% YTD performance, and +$326M in YTD flows. Run a side-by-side ETF comparison of SMMD 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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SMMD 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 09/18/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	SMMD FSMD	-4.67%-4.44%	-3.03%-2.94%	+17.26%+14.23%	+18.17%+13.72%	+62.01%+57.63%	+46.63%+61.56%
Flows	SMMD FSMD	+$474M+$36M	+$703M+$67M	+$1.49B+$326M	+$1.95B+$520M	+$2.57B+$1.91B	+$3.06B+$1.97B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	SMMD FSMD	+12.80%+13.73%	+17.41%+15.24%	+19.36%+17.12%	+20.94%+18.26%
Max drawdown	SMMD FSMD	-6.52%-6.19%	-9.48%-8.28%	-25.55%-22.27%	-28.20%-22.27%
Max drawdown duration	SMMD FSMD	33d32d	43d43d	283d289d	980d289d

Trading data

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	SMMD	FSMD
Last sale 9/21/2026 at 1:30 PM	$87.52	$49.99
Previous close 09/18/2026	$86.97	$49.88
Consolidated volume 09/18/2026
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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	SMMD	FSMD
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/21/2026 at 1:30 PM

Live

Closed

	SMMD	FSMD
Last price	$87.52	$49.99
1D performance	+0.63%	+0.22%
AuM	$4.09 B	$2.50 B
E/R	0.23%	0.15%

Characteristics

	SMMD	FSMD
Management strategy	Passive	Passive
Provider	iShares	Fidelity
Benchmark	Russell 2500 Index	Fidelity Small-Mid Multifactor Index
N° of holdings	2449	586
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	July 6, 2017	February 26, 2019
ESG	No	No

More SMMD data on Trackinsight

More FSMD data on Trackinsight

Exposure

Countries

SMMD

USA

95.29%

Other

4.71%

FSMD

USA

95.51%

Other

4.49%

Sectors

SMMD

Finance

25.19%

Healthcare

14.82%

Industrials

14.07%

Technology

12.73%

Non-Energy Materi.

8.03%

Other

25.16%

FSMD

Finance

23.71%

Industrials

16.08%

Technology

15.89%

Healthcare

12.78%

Non-Energy Materi.

7.81%

Other

23.74%

Diversification

SMMD

Total weight of top 15 holdings out of 15

4.49%

FSMD

Total weight of top 15 holdings out of 15

9.86%

Top 15 holdings

Data as of July 31, 2026

SMMD

ATI, Inc.

0.34%

BlackRock Cash Funds - Treasury

0.33%

Carpenter Technology Corp.

0.33%

nVent Electric Plc

0.32%

US Foods Holding Corp.

0.30%

F5, Inc.

0.30%

Packaging Corporation of America

0.29%

NiSource, Inc.

0.29%

Tenet Healthcare Corp.

0.29%

Woodward, Inc.

0.29%

SoFi Technologies, Inc.

0.28%

Snap-On, Inc.

0.28%

Viatris, Inc.

0.28%

Affirm Holdings, Inc.

0.28%

Reliance, Inc.

0.28%

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 SMMD and FSMD

How have the SMMD and FSMD ETFs performed in 2026?

As of September 18, 2026, SMMD is up 17.26% year-to-date (YTD), while FSMD has returned 14.23%. That puts SMMD better performer ahead so far this year.

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

Year-to-date, the SMMD ETF saw +$1.49B in flows, compared to +$326M for FSMD.

Which ETF is more volatile: SMMD or FSMD?

Over the past year, SMMD had a volatility of 17.41%, while FSMD experienced 15.24%.

Which ETF is bigger: SMMD or FSMD?

As of September 18, 2026, SMMD holds $4.09 B in assets under management (AUM), while FSMD manages $2.50 B.

What sectors do the SMMD and FSMD ETFs invest in?

SMMD leans toward sectors like Finance, Healthcare and Industrials. Meanwhile, FSMD focuses on Finance, Industrials and Technology.

What are the top holdings of the SMMD ETF and FSMD ETF?

SMMD top holdings include ATI, Inc., BlackRock Cash Funds - Treasury and Carpenter Technology Corp.. FSMD holds in its top three: Sandisk Corp., Comfort Systems USA, Inc. and Ciena Corp..

SMMDvsFSMDETF Comparison

iShares Russell 2500 ETF

Fidelity Small-Mid Multifactor ETF

SMMD 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 SMMD and FSMD ETFs performed in 2026?

As of September 18, 2026, SMMD is up 17.26% year-to-date (YTD), while FSMD has returned 14.23%. That puts SMMD better performer ahead so far this year.

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

Year-to-date, the SMMD ETF saw +$1.49B in flows, compared to +$326M for FSMD.

Which ETF is more volatile: SMMD or FSMD?

Over the past year, SMMD had a volatility of 17.41%, while FSMD experienced 15.24%.

Which ETF is bigger: SMMD or FSMD?

As of September 18, 2026, SMMD holds $4.09 B in assets under management (AUM), while FSMD manages $2.50 B.

What sectors do the SMMD and FSMD ETFs invest in?

SMMD leans toward sectors like Finance, Healthcare and Industrials. Meanwhile, FSMD focuses on Finance, Industrials and Technology.

What are the top holdings of the SMMD ETF and FSMD ETF?

SMMD top holdings include ATI, Inc., BlackRock Cash Funds - Treasury and Carpenter Technology Corp.. FSMD holds in its top three: Sandisk Corp., Comfort Systems USA, Inc. and Ciena Corp..

Which ETF is more diversified: SMMD or FSMD?

SMMD holds 2468 securities with 4.49% of its assets in the top 15. FSMD has 586 securities and a top 15 weight of 9.86%.

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