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VBvsFSMDETF Comparison

ETF 1
VB

Vanguard Small Cap ETF

This fund is part of
US Small Cap
-0.16%
Full VB fund page
VS
ETF 2
FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of
US Multi-Factor
-0.15%
Full FSMD fund page

Vanguard Small Cap ETF (VB) belongs to the US Small Cap segment. Fidelity Small-Mid Multifactor ETF (FSMD) is part of the US Multi-Factor segment. VB's top 3 sector exposures are Industrials, Information Technology and Financials. In contrast, FSMD's top sector exposures are Industrials, Financials and Information Technology. VB is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.15% for FSMD. VB is up 3.26% year-to-date (YTD) with +$423M in YTD flows. FSMD performs worse with 2.25% YTD performance, and +$170M in YTD flows. Run a side-by-side ETF comparison of VB 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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VB vs FSMD performance and flow charts

Performance

-5.0-4.0-3.0-2.0-1.00.01.0%Feb 11Feb 19Feb 26Mar 5

Cumulative Flows

0 M100 M200 M300 M400 MFeb 11Feb 19Feb 26Mar 5

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Historic performance and flows
Data as of 03/11/2026
1M3MYTD1Y3Y5Y
Perf.
VB
FSMD
-4.24%-4.57%
+0.39%-0.33%
+3.26%+2.25%
+21.75%+18.26%
+52.67%+51.71%
+30.17%+47.43%
Flows
VB
FSMD
+$433M+$60M
+$516M+$215M
+$423M+$170M
+$506M+$1.01B
+$9.74B+$1.77B
+$15.61B+$1.82B
Volatility and drawdown
3M1Y3Y5Y
Volatility
VB
FSMD
+15.87%+13.66%
+21.66%+18.99%
+18.86%+16.88%
+20.66%+18.23%
Max drawdown
VB
FSMD
-5.26%-5.58%
-15.79%-13.29%
-25.25%-22.27%
-28.14%-22.27%
Max drawdown duration
VB
FSMD
13d13d
46d46d
296d289d
980d289d
Trading data

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VB
FSMD
Last sale
3/12/2026 at 1:30 PM
$260.84
$44.31
Previous close
03/11/2026
$266.41
$45.13
Consolidated volume
03/11/2026
Average volume
30 days
Average discount or premium
30 days
Average Bid/Ask spread
30 days
Replication quality
Data as of February 27, 2026
1-year trailing difference

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VB
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 3/12/2026 at 1:30 PM
Live
Closed
VB
FSMD
Last price
$260.84
$44.31
1D performance
-2.09%
-1.82%
AuM$71.65 B$2.12 B
E/R0.03%0.15%
Characteristics
VB
FSMD
Management strategyPassivePassive
ProviderVanguardFidelity
BenchmarkCRSP U.S. Small Cap IndexFidelity Small-Mid Multifactor Index
N° of holdings1170546
Asset classEquitiesEquities
Trailing 12m distribution yield
Join
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Inception dateJanuary 26, 2004February 26, 2019
ESGNoNo
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Exposure

Countries

VB
USA
92.72%
Other
7.28%
FSMD
USA
92.39%
Other
7.61%

Sectors

VB
Industrials
18.04%
Information Techn.
13.76%
Financials
11.75%
Health Care
10.95%
Consumer Discreti.
10.09%
Other
35.4%
FSMD
Industrials
20.07%
Financials
15.72%
Information Techn.
13.59%
Consumer Discreti.
11.33%
Health Care
10.81%
Other
28.48%
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Diversification

VB

Total weight of top 15 holdings out of 15

6.86%
FSMD

Total weight of top 15 holdings out of 15

7.83%

Top 15 holdings

Data as of January 31, 2026
VB
US80004C2008
1.06%
US7731211089
0.57%
COMFORT SYSTEMS USA
0.53%
CIENA
0.47%
US19247G1076
0.44%
EMCOR GROUP
0.43%
BLOOM ENERGY CORP
0.43%
NATERA
0.40%
NRG ENERGY
0.39%
KYG3730V1059
0.37%
LUMENTUM HOLDINGS
0.37%
SOFI TECHNOLOGIES INC
0.36%
ATMOS ENERGY
0.36%
TAPESTRY INC
0.34%
CHESAPEAKE ENERGY
0.34%
FSMD
GB00BRXH2664
0.92%
CIENA
0.75%
COMFORT SYSTEMS USA
0.72%
EMCOR GROUP
0.56%
TAPESTRY INC
0.48%
FLEX LTD
0.48%
TECHNIPFMC PLC
0.47%
UTD THERAPEUT
0.46%
CURTISS WRIGHT
0.45%
PURE STORAGE
0.44%
ROYAL GOLD
0.44%
CASEYS GENERAL STORES
0.43%
CH ROBINSON WW
0.42%
US75734B1008
0.41%
KRATOS DEFENSE AND SECURITY SOLS
0.39%
Frequently asked questions about VB and FSMD

How have the VB and FSMD ETFs performed in 2026?

As of March 11, 2026, VB is up 3.26% year-to-date (YTD), while FSMD has returned 2.25%. That puts VB better performer ahead so far this year.

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

Year-to-date, the VB ETF saw +$423M in flows, compared to +$170M for FSMD.

Which ETF is more volatile: VB or FSMD?

Over the past year, VB had a volatility of 21.66%, while FSMD experienced 18.99%.

Which ETF is bigger: VB or FSMD?

As of March 11, 2026, VB holds $71.65 B in assets under management (AUM), while FSMD manages $2.12 B.

What sectors do the VB and FSMD ETFs invest in?

VB 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 VB ETF and FSMD ETF?

VB top holdings include US80004C2008, US7731211089 and COMFORT SYSTEMS USA. FSMD holds in its top three: GB00BRXH2664, CIENA and COMFORT SYSTEMS USA.

Which ETF is more diversified: VB or FSMD?

VB holds 1315 securities with 6.86% of its assets in the top 15. FSMD has 584 securities and a top 15 weight of 7.83%.

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