VBvsFSMDETF Comparison
VS
Vanguard Morningstar 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. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. VB is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.15% for FSMD. VB is up 13.02% year-to-date (YTD) with +$1.14B in YTD flows. FSMD performs better with 14.23% YTD performance, and +$326M 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
Historic performance and flows
Data as of 09/18/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VB FSMD | -4.58%-4.44% | -2.10%-2.94% | +13.02%+14.23% | +13.24%+13.72% | +55.09%+57.63% | +42.37%+61.56% |
| Flows | VB FSMD | +$300M+$36M | -$3.25B+$67M | +$1.14B+$326M | +$698M+$520M | +$8.98B+$1.91B | +$12.45B+$1.97B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VB FSMD | +12.21%+13.73% | +16.10%+15.24% | +18.71%+17.12% | +20.57%+18.26% |
| Max drawdown | VB FSMD | -6.54%-6.19% | -8.96%-8.28% | -25.25%-22.27% | -28.14%-22.27% |
| Max drawdown duration | VB FSMD | 33d32d | 48d43d | 296d289d | 980d289d |
Trading data
VB | FSMD | |
Last sale 9/18/2026 at 1:30 PM | $289.61 | $49.88 |
| Previous close 09/17/2026 | $290.91 | $50.16 |
| Consolidated volume 09/17/2026 | ||
| 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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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 9/18/2026 at 1:30 PM
Live
Closed
VB | FSMD | |
|---|---|---|
| Last price | $289.61 | $49.88 |
| 1D performance | -0.45% | -0.56% |
| AuM | $78.57 B | $2.50 B |
| E/R | 0.03% | 0.15% |
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Exposure
Countries
VB
USA
95.09%
Other
4.91%
FSMD
USA
95.51%
Other
4.49%
Sectors
VB
Finance
22.24%
Industrials
15.22%
Technology
14.16%
Healthcare
12.61%
Non-Energy Materi.
8.34%
Other
27.43%
FSMD
Finance
23.71%
Industrials
16.08%
Technology
15.89%
Healthcare
12.78%
Non-Energy Materi.
7.81%
Other
23.74%
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Diversification
VB
Total weight of top 15 holdings out of 15
5.76%
FSMD
Total weight of top 15 holdings out of 15
9.86%
Top 15 holdings
Data as of July 31, 2026
VB
Revolution Medicines, Inc.
0.47%
Natera, Inc.
0.45%
EMCOR Group, Inc.
0.44%
Credo Technology Group Holding Ltd.
0.43%
Jabil, Inc.
0.41%
Casey's General Stores, Inc.
0.40%
Tapestry, Inc.
0.38%
Twilio, Inc.
0.37%
Illumina, Inc.
0.37%
Atmos Energy Corp.
0.36%
TechnipFMC plc
0.35%
NRG Energy, Inc.
0.35%
Williams-Sonoma, Inc.
0.33%
Curtiss-Wright Corp.
0.33%
ATI, Inc.
0.32%
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 VB and FSMD
How have the VB and FSMD ETFs performed in 2026?
As of September 18, 2026, VB is up 13.02% year-to-date (YTD), while FSMD has returned 14.23%. 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 +$1.14B in flows, compared to +$326M for FSMD.
Which ETF is more volatile: VB or FSMD?
Over the past year, VB had a volatility of 16.1%, while FSMD experienced 15.24%.
Which ETF is bigger: VB or FSMD?
As of September 18, 2026, VB holds $78.57 B in assets under management (AUM), while FSMD manages $2.50 B.
What sectors do the VB and FSMD ETFs invest in?
VB leans toward sectors like Finance, Industrials and Technology. Meanwhile, FSMD focuses on Finance, Industrials and Technology.
What are the top holdings of the VB ETF and FSMD ETF?
VB top holdings include Revolution Medicines, Inc., Natera, Inc. and EMCOR Group, Inc.. FSMD holds in its top three: Sandisk Corp., Comfort Systems USA, Inc. and Ciena Corp..
Which ETF is more diversified: VB or FSMD?
VB holds 1302 securities with 5.76% of its assets in the top 15. FSMD has 586 securities and a top 15 weight of 9.86%.
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Latest news about VB & FSMD
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