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SMMDvsFSMDETF Comparison

ETF 1

SMMD

iShares Russell 2500 ETF

This fund is part of

US Multi-Factor

+0%

Full SMMD fund page

VS

ETF 2

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

+0%

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 Industrials, Information Technology and Financials. In contrast, FSMD's top sector exposures are Industrials, Financials and Information Technology. SMMD is more expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.15% for FSMD. SMMD is up 12.9% year-to-date (YTD) with +$452M in YTD flows. FSMD performs worse with 11.2% YTD performance, and +$233M 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 04/27/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	SMMD FSMD	+13.09%+11.37%	+5.73%+6.78%	+12.90%+11.20%	+39.67%+29.63%	+64.18%+61.21%	+37.03%+54.02%
Flows	SMMD FSMD	+$108M+$37M	+$567M+$197M	+$452M+$233M	+$1.02B+$510M	+$1.61B+$1.83B	+$2.08B+$1.88B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	SMMD FSMD	+20.61%+17.67%	+17.53%+15.01%	+19.29%+16.94%	+20.93%+18.30%
Max drawdown	SMMD FSMD	-9.48%-8.28%	-9.48%-8.28%	-25.55%-22.27%	-28.20%-22.27%
Max drawdown duration	SMMD FSMD	43d43d	43d43d	283d289d	980d289d

Trading data

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	SMMD	FSMD
Last sale 4/28/2026 at 3:19 PM	$83.31	$48.89
Previous close 04/27/2026	$84.40	$48.73
Consolidated volume 04/27/2026
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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	SMMD	FSMD
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/28/2026 at 3:19 PM

Live

Closed

	SMMD	FSMD
Last price	$83.31	$48.89
1D performance	-1.30%	+0.33%
AuM	$2.97 B	$2.36 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	2049	560
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

92.04%

Other

7.96%

FSMD

USA

92.6%

Other

7.4%

Sectors

SMMD

Industrials

18.13%

Information Techn.

13.44%

Financials

12.96%

Health Care

11.23%

Consumer Discreti.

9.7%

Other

34.54%

FSMD

Industrials

19.48%

Financials

14.58%

Information Techn.

13.34%

Health Care

11.29%

Consumer Discreti.

10.19%

Other

31.12%

Diversification

SMMD

Total weight of top 15 holdings out of 15

8.25%

FSMD

Total weight of top 15 holdings out of 15

9.31%

Top 15 holdings

Data as of March 31, 2026

SMMD

US80004C2008

1.31%

CIENA

0.79%

LUMENTUM HOLDINGS

0.71%

COMFORT SYSTEMS USA

0.69%

US19247G1076

0.60%

INSMED

0.49%

EMCOR GROUP

0.47%

US7731211089

0.45%

BLOOM ENERGY CORP

0.42%

TAPESTRY INC

0.41%

TECHNIPFMC PLC

0.40%

JABIL CIRCUIT

0.40%

CASEYS GENERAL STORES

0.39%

UTD THERAPEUT

0.36%

CURTISS WRIGHT

0.36%

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 SMMD and FSMD

How have the SMMD and FSMD ETFs performed in 2026?

As of April 27, 2026, SMMD is up 12.9% year-to-date (YTD), while FSMD has returned 11.2%. 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 +$452M in flows, compared to +$233M for FSMD.

Which ETF is more volatile: SMMD or FSMD?

Over the past year, SMMD had a volatility of 17.53%, while FSMD experienced 15.01%.

Which ETF is bigger: SMMD or FSMD?

As of April 27, 2026, SMMD holds $2.97 B in assets under management (AUM), while FSMD manages $2.36 B.

What sectors do the SMMD and FSMD ETFs invest in?

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

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 April 27, 2026, SMMD is up 12.9% year-to-date (YTD), while FSMD has returned 11.2%. 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 +$452M in flows, compared to +$233M for FSMD.

Which ETF is more volatile: SMMD or FSMD?

Over the past year, SMMD had a volatility of 17.53%, while FSMD experienced 15.01%.

Which ETF is bigger: SMMD or FSMD?

As of April 27, 2026, SMMD holds $2.97 B in assets under management (AUM), while FSMD manages $2.36 B.

What sectors do the SMMD and FSMD ETFs invest in?

SMMD 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 SMMD ETF and FSMD ETF?

SMMD top holdings include US80004C2008, CIENA and LUMENTUM HOLDINGS. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: SMMD or FSMD?

SMMD holds 2427 securities with 8.25% of its assets in the top 15. FSMD has 595 securities and a top 15 weight of 9.31%.

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