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SQLTvsFSMDETF Comparison

ETF 1
SQLT

iShares MSCI USA Small-Cap Quality Factor ETF

This fund is part of
US Multi-Factor
-1.31%
VS
ETF 2
FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of
US Multi-Factor
-1.31%

iShares MSCI USA Small-Cap Quality Factor ETF (SQLT) and Fidelity Small-Mid Multifactor ETF (FSMD) belong to the same industry segment: US Multi-Factor. SQLT's top 3 sector exposures are Industrials, Information Technology and Financials. In contrast, FSMD's top sector exposures are Industrials, Financials and Information Technology. SQLT is more expensive with a Total Expense Ratio (TER) of 0.2%, versus 0.15% for FSMD. Run a side-by-side ETF comparison of SQLT 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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SQLT vs FSMD performance and flow charts

Performance

-3.0-2.0-1.00.01.02.0%May 11May 18May 26Jun 2Jun 9

Cumulative Flows

0 M5 M10 M15 M20 M25 MMay 11May 18May 26Jun 2Jun 9

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Historic performance and flows
Data as of 06/10/2026
1M3MYTD1Y3Y5Y
Perf.
SQLT
FSMD
-0.09%-0.45%
n/a+10.42%
n/a+13.16%
n/a+22.59%
n/a+57.40%
n/a+56.01%
Flows
SQLT
FSMD
+$4K+$25M
-+$83M
-+$248M
-+$514M
-+$1.84B
-+$1.89B
Volatility and drawdown
3M1Y3Y5Y
Volatility
SQLT
FSMD
n/a+17.57%
n/a+15.00%
n/a+16.88%
n/a+18.28%
Max drawdown
SQLT
FSMD
n/a-4.02%
n/a-8.28%
n/a-22.27%
n/a-22.27%
Max drawdown duration
SQLT
FSMD
n/a16d
n/a43d
n/a289d
n/a289d
Trading data

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SQLT
FSMD
Last sale
6/11/2026 at 1:30 PM
$28.04
$51.18
Previous close
06/10/2026
$27.50
$49.76
Consolidated volume
06/10/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of May 29, 2026
1-year trailing difference

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SQLT
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 6/11/2026 at 1:30 PM
Live
Closed
SQLT
FSMD
Last price
$28.04
$51.18
1D performance
+1.95%
+2.85%
AuM$6.60 M$2.42 B
E/R0.2%0.15%
Characteristics
SQLT
FSMD
Management strategyPassivePassive
ProvideriSharesFidelity
BenchmarkMSCI USA Small Cap Sector Neutral Quality IndexFidelity Small-Mid Multifactor Index
N° of holdings451556
Asset class-Equities
Trailing 12m distribution yield
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Inception dateMarch 31, 2026February 26, 2019
ESGNoNo
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Exposure

Countries

SQLT
USA
97.19%
Other
2.81%
FSMD
USA
92.51%
Other
7.49%

Sectors

SQLT
Industrials
16.76%
Information Techn.
16.23%
Financials
15.45%
Health Care
11.92%
Consumer Discreti.
11.53%
Other
28.11%
FSMD
Industrials
19.56%
Financials
14.7%
Information Techn.
14.6%
Health Care
10.83%
Consumer Discreti.
9.9%
Other
30.4%
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Diversification

SQLT

Total weight of top 15 holdings out of 15

12.89%
FSMD

Total weight of top 15 holdings out of 15

10.75%

Top 15 holdings

Data as of April 30, 2026
SQLT
US0669224778
1.52%
FABRINET
1.28%
ROYAL GOLD
1.08%
NEW YORK TIMES
0.96%
WOODWARD
0.84%
EAST WEST BANCORP
0.83%
CARPENTER TECHNOLOGY
0.81%
BWX TECHNOLOGIES INC
0.80%
LATTICE SEMICONDUCTOR
0.73%
ITT
0.72%
LINCOLN ELECTRIC HOLDINGS
0.71%
EVERCORE INC
0.68%
TD SYNNEX
0.66%
NFG
0.65%
MUELLER INDUSTRIES
0.63%
FSMD
US80004C2008
2.11%
CIENA
1.07%
LUMENTUM HOLDINGS
0.94%
COMFORT SYSTEMS USA
0.92%
US19247G1076
0.77%
GB00BRXH2664
0.62%
EMCOR GROUP
0.58%
FLEX LTD
0.53%
TECHNIPFMC PLC
0.52%
CASEYS GENERAL STORES
0.51%
TAPESTRY INC
0.49%
FABRINET
0.44%
REVOLUTION MEDICINES INC
0.42%
UTD THERAPEUT
0.42%
CURTISS WRIGHT
0.41%
Frequently asked questions about SQLT and FSMD

Which ETF is bigger: SQLT or FSMD?

As of June 10, 2026, SQLT holds $6.60 M in assets under management (AUM), while FSMD manages $2.42 B.

What sectors do the SQLT and FSMD ETFs invest in?

SQLT 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 SQLT ETF and FSMD ETF?

SQLT top holdings include US0669224778, FABRINET and ROYAL GOLD. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: SQLT or FSMD?

SQLT holds 483 securities with 12.89% of its assets in the top 15. FSMD has 592 securities and a top 15 weight of 10.75%.

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