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XSHQvsFESMETF Comparison

ETF 1

XSHQ

Invesco S&P SmallCap Quality ETF

This fund is part of

US Multi-Factor

-0.5%

Full XSHQ fund page

VS

ETF 2

FESM

Fidelity Enhanced Small Cap ETF

This fund is part of

US Small Cap

-0.42%

Full FESM fund page

Invesco S&P SmallCap Quality ETF (XSHQ) belongs to the US Multi-Factor segment. Fidelity Enhanced Small Cap ETF (FESM) is part of the US Small Cap segment. XSHQ's top 3 sector exposures are Finance, Technology and Industrials. In contrast, FESM's top sector exposures are Finance, Healthcare and Technology. XSHQ is more expensive with a Total Expense Ratio (TER) of 0.29%, versus 0.28% for FESM. XSHQ is up 11.15% year-to-date (YTD) with +$26M in YTD flows. FESM performs better with 22.88% YTD performance, and +$2.19B in YTD flows. Run a side-by-side ETF comparison of XSHQ and FESM 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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XSHQ vs FESM 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 09/14/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	XSHQ FESM	-6.38%-5.57%	-0.84%-0.75%	+11.15%+22.88%	+7.71%+28.87%	+32.43%n/a	+39.54%n/a
Flows	XSHQ FESM	-$9M+$255M	+$50M+$1.02B	+$26M+$2.19B	-$5M+$3.06B	+$226M-	+$238M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	XSHQ FESM	+14.30%+14.43%	+16.44%+18.86%	+19.78%n/a	+20.85%n/a
Max drawdown	XSHQ FESM	-6.88%-5.87%	-9.75%-10.11%	-27.13%n/a	-27.13%n/a
Max drawdown duration	XSHQ FESM	41d29d	118d81d	562dn/a	562dn/a

Trading data

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	XSHQ	FESM
Last sale 9/15/2026 at 1:30 PM	$46.53	$45.89
Previous close 09/14/2026	$46.63	$46.15
Consolidated volume 09/14/2026
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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FESM

is actively managed and doesn’t replicate an index

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	XSHQ	FESM
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/15/2026 at 1:30 PM

Live

Closed

	XSHQ	FESM
Last price	$46.53	$45.89
1D performance	-0.22%	-0.56%
AuM	$295.87 M	$6.43 B
E/R	0.29%	0.28%

Characteristics

	XSHQ	FESM
Management strategy	Passive	Active
Provider	Invesco	Fidelity
Benchmark	S&P SmallCap 600 Quality Index	-
N° of holdings	119	780
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	April 6, 2017	November 20, 2023
ESG	No	No

More XSHQ data on Trackinsight

More FESM data on Trackinsight

Exposure

Countries

XSHQ

USA

96.5%

Other

3.5%

FESM

USA

96.2%

Other

3.8%

Sectors

XSHQ

Finance

28.85%

Technology

20.66%

Industrials

16.91%

Other

33.58%

FESM

Finance

22.75%

Healthcare

19.79%

Technology

17.72%

Industrials

11.76%

Other

27.98%

Diversification

XSHQ

Total weight of top 15 holdings out of 15

29.57%

FESM

Total weight of top 15 holdings out of 15

9.93%

Top 15 holdings

Data as of July 31, 2026

XSHQ

Paycom Software, Inc.

2.59%

Brinker International, Inc.

2.54%

Argan, Inc.

2.49%

Clear Secure, Inc.

2.40%

Dave, Inc.

2.18%

Armstrong World Industries, Inc.

2.14%

Lyft, Inc.

1.86%

Moelis & Co.

1.83%

PJT Partners, Inc.

1.79%

Qorvo, Inc.

1.72%

Zurn Elkay Water Solutions Corp.

1.68%

Corcept Therapeutics, Inc.

1.62%

Artisan Partners Asset Management, Inc.

1.60%

Frontdoor, Inc.

1.56%

MYR Group, Inc.

1.56%

FESM

Commercial Metals Co.

0.78%

HealthEquity, Inc.

0.76%

Oscar Health, Inc.

0.74%

Installed Building Products, Inc.

0.71%

Phillips Edison & Co., Inc.

0.69%

Option Care Health, Inc.

0.65%

WesBanco, Inc.

0.64%

ACI Worldwide, Inc.

0.64%

Tutor Perini Corp.

0.63%

EnerSys

0.63%

OUTFRONT Media, Inc.

0.62%

Plexus Corp.

0.62%

SkyWest, Inc.

0.61%

Griffon Corp.

0.61%

Clear Secure, Inc.

0.60%

Frequently asked questions about XSHQ and FESM

How have the XSHQ and FESM ETFs performed in 2026?

As of September 14, 2026, XSHQ is up 11.15% year-to-date (YTD), while FESM has returned 22.88%. That puts FESM better performer ahead so far this year.

Which ETF is attracting more investor money: XSHQ or FESM?

Year-to-date, the XSHQ ETF saw +$26M in flows, compared to +$2.19B for FESM.

Which ETF is more volatile: XSHQ or FESM?

Over the past year, XSHQ had a volatility of 16.44%, while FESM experienced 18.86%.

Which ETF is bigger: XSHQ or FESM?

As of September 14, 2026, XSHQ holds $295.87 M in assets under management (AUM), while FESM manages $6.43 B.

What sectors do the XSHQ and FESM ETFs invest in?

XSHQ leans toward sectors like Finance, Technology and Industrials. Meanwhile, FESM focuses on Finance, Healthcare and Technology.

What are the top holdings of the XSHQ ETF and FESM ETF?

XSHQ top holdings include Paycom Software, Inc., Brinker International, Inc. and Argan, Inc.. FESM holds in its top three: Commercial Metals Co., HealthEquity, Inc. and Oscar Health, Inc..

Which ETF is more diversified: XSHQ or FESM?

XSHQ holds 119 securities with 29.57% of its assets in the top 15. FESM has 781 securities and a top 15 weight of 9.93%.

Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs

February 16, 2024

FESM

Fidelity Continues Trend of Mutual Fund Conversions to ETFs

November 27, 2023

FESM

XSHQvsFESMETF Comparison

Invesco S&P SmallCap Quality ETF

Fidelity Enhanced Small Cap ETF

XSHQ vs FESM 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 XSHQ and FESM ETFs performed in 2026?

As of September 14, 2026, XSHQ is up 11.15% year-to-date (YTD), while FESM has returned 22.88%. That puts FESM better performer ahead so far this year.

Which ETF is attracting more investor money: XSHQ or FESM?

Year-to-date, the XSHQ ETF saw +$26M in flows, compared to +$2.19B for FESM.

Which ETF is more volatile: XSHQ or FESM?

Over the past year, XSHQ had a volatility of 16.44%, while FESM experienced 18.86%.

Which ETF is bigger: XSHQ or FESM?

As of September 14, 2026, XSHQ holds $295.87 M in assets under management (AUM), while FESM manages $6.43 B.

What sectors do the XSHQ and FESM ETFs invest in?

XSHQ leans toward sectors like Finance, Technology and Industrials. Meanwhile, FESM focuses on Finance, Healthcare and Technology.

What are the top holdings of the XSHQ ETF and FESM ETF?

XSHQ top holdings include Paycom Software, Inc., Brinker International, Inc. and Argan, Inc.. FESM holds in its top three: Commercial Metals Co., HealthEquity, Inc. and Oscar Health, Inc..

Which ETF is more diversified: XSHQ or FESM?

XSHQ holds 119 securities with 29.57% of its assets in the top 15. FESM has 781 securities and a top 15 weight of 9.93%.

Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs

Fidelity Continues Trend of Mutual Fund Conversions to ETFs

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