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VBvsFSMDETF Comparison

ETF 1

VB

Vanguard Small Cap ETF

This fund is part of

US Small Cap

+1.29%

Full VB fund page

VS

ETF 2

FSMD

Fidelity Small-Mid Multifactor ETF

This fund is part of

US Multi-Factor

+0.79%

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 11.55% year-to-date (YTD) with +$205M in YTD flows. FSMD performs better with 13.04% YTD performance, and +$228M 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

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 05/05/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	VB FSMD	+7.93%+9.19%	+6.95%+8.18%	+11.55%+13.04%	+31.55%+28.31%	+61.61%+63.95%	+39.60%+57.58%
Flows	VB FSMD	-$516M+$9M	+$486M+$165M	+$205M+$228M	+$773M+$467M	+$9.78B+$1.82B	+$14.36B+$1.87B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	VB FSMD	+19.21%+18.53%	+16.77%+15.07%	+18.80%+16.93%	+20.67%+18.33%
Max drawdown	VB FSMD	-8.96%-8.28%	-8.96%-8.28%	-25.25%-22.27%	-28.14%-22.27%
Max drawdown duration	VB FSMD	48d43d	48d43d	296d289d	980d289d

Trading data

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	VB	FSMD
Last sale 5/6/2026 at 1:30 PM	$290.85	$50.21
Previous close 05/05/2026	$286.69	$49.69
Consolidated volume 05/05/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of April 30, 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

Main metrics

Last update 5/6/2026 at 1:30 PM

Live

Closed

	VB	FSMD
Last price	$290.85	$50.21
1D performance	+1.45%	+1.05%
AuM	$76.87 B	$2.40 B
E/R	0.03%	0.15%

Characteristics

	VB	FSMD
Management strategy	Passive	Passive
Provider	Vanguard	Fidelity
Benchmark	CRSP U.S. Small Cap Index	Fidelity Small-Mid Multifactor Index
N° of holdings	1154	560
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	January 26, 2004	February 26, 2019
ESG	No	No

More VB data on Trackinsight

More FSMD data on Trackinsight

Exposure

Countries

VB

USA

92.27%

Other

7.73%

FSMD

USA

92.6%

Other

7.4%

Sectors

VB

Industrials

17.73%

Information Techn.

13.69%

Financials

11.12%

Health Care

10.78%

Consumer Discreti.

9.82%

Other

36.86%

FSMD

Industrials

19.48%

Financials

14.58%

Information Techn.

13.34%

Health Care

11.29%

Consumer Discreti.

10.19%

Other

31.12%

Diversification

VB

Total weight of top 15 holdings out of 15

5.69%

FSMD

Total weight of top 15 holdings out of 15

9.31%

Top 15 holdings

Data as of March 31, 2026

VB

EMCOR GROUP

0.46%

NRG ENERGY

0.43%

ATMOS ENERGY

0.42%

TAPESTRY INC

0.40%

TECHNIPFMC PLC

0.38%

CIENA

0.38%

CASEYS GENERAL STORES

0.37%

JABIL CIRCUIT

0.37%

NATERA

0.37%

CHESAPEAKE ENERGY

0.37%

UTD THERAPEUT

0.36%

KYG3730V1059

0.35%

CURTISS WRIGHT

0.35%

LUMENTUM HOLDINGS

0.35%

COMFORT SYSTEMS USA

0.34%

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 VB and FSMD

How have the VB and FSMD ETFs performed in 2026?

As of May 5, 2026, VB is up 11.55% year-to-date (YTD), while FSMD has returned 13.04%. That puts FSMD better performer ahead so far this year.

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

Year-to-date, the VB ETF saw +$205M in flows, compared to +$228M for FSMD.

Which ETF is more volatile: VB or FSMD?

Over the past year, VB had a volatility of 16.77%, while FSMD experienced 15.07%.

Which ETF is bigger: VB or FSMD?

As of May 5, 2026, VB holds $76.87 B in assets under management (AUM), while FSMD manages $2.40 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 EMCOR GROUP, NRG ENERGY and ATMOS ENERGY. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: VB or FSMD?

VB holds 1308 securities with 5.69% of its assets in the top 15. FSMD has 595 securities and a top 15 weight of 9.31%.

Small Cap ETFs Among the Week’s Top Performers

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VB

VBvsFSMDETF Comparison

Vanguard Small Cap ETF

Fidelity Small-Mid Multifactor ETF

VB 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 VB and FSMD ETFs performed in 2026?

As of May 5, 2026, VB is up 11.55% year-to-date (YTD), while FSMD has returned 13.04%. That puts FSMD better performer ahead so far this year.

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

Year-to-date, the VB ETF saw +$205M in flows, compared to +$228M for FSMD.

Which ETF is more volatile: VB or FSMD?

Over the past year, VB had a volatility of 16.77%, while FSMD experienced 15.07%.

Which ETF is bigger: VB or FSMD?

As of May 5, 2026, VB holds $76.87 B in assets under management (AUM), while FSMD manages $2.40 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 EMCOR GROUP, NRG ENERGY and ATMOS ENERGY. FSMD holds in its top three: US80004C2008, CIENA and LUMENTUM HOLDINGS.

Which ETF is more diversified: VB or FSMD?

VB holds 1308 securities with 5.69% of its assets in the top 15. FSMD has 595 securities and a top 15 weight of 9.31%.

Small Cap ETFs Among the Week’s Top Performers

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