Data as of Oct 28, 2026.
ESML vs FFSM: Differences, Returns & Fees
Over the year to Oct 28, 2026, ESML returned +17.7% to FFSM's +14.5%; 16% of their weight is in the same names.
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Net assets: $2.7bn on Oct 27, 2026 for iShares ESG Aware MSCI USA Small-Cap ETF, and $1.4bn on Sep 30, 2026 for Fidelity Fundamental Small-Mid Cap ETF.
Pair scorecard
ESML costs 0.26 points a year less; their one-year returns differ by 3.2 points; ESML is 1.9 times larger.
| Measure | ESML | FFSM |
|---|---|---|
| Return | ||
| Total return, 1 year | +17.7% | +14.5% |
| Drawdown | ||
| Below its high | 5.3%, high on Aug 14, 2026 | 11.3%, high on Aug 17, 2026 |
| Benchmark | ||
| What it tracks | MSCI USA Small Cap Extended ESG Focus Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.17% | 0.43% |
| Net assets, as of Sep 30, 2026 | $2.7bn | $1.4bn |
| Holdings | ||
| Holdings in common | 16% | |
| Top ten holdings, share of the fund | 5.2% | 14.0% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Feb 12, 2021 to Oct 23, 2026 · 297 weekly returnsFFSM returned more: +62.1% to +45.4%. FFSM swung slightly less: 18.8% to 19.3%. FFSM fell slightly less at its worst: −26.3% to −27.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ESML | FFSM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +45.4% | +62.1% | FFSM | Price change plus distributions, reinvested. |
| Annualized | +6.8% | +8.8% | FFSM | Total return as a yearly rate. |
| Price return | +35.7% | +57.0% | FFSM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.3% | 18.8% | FFSM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.3% | 12.9% | FFSM (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −27.6% | −26.3% | FFSM (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.26 | 0.36 | FFSM | Return above Treasury bills per unit of volatility. |
| Sortino | 0.37 | 0.52 | FFSM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.25 | 0.34 | FFSM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 297 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ESML and FFSM hold 16% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
16% in common
Only in one fund ↓
Side by side
ESML and FFSM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ESML and FFSM are built for the same job. How do they differ in cost, holdings and results?
- What each follows. ESML follows MSCI USA Small Cap Extended ESG Focus Index and FFSM follows No index, actively managed.
- Holdings in common. 16% of the weight is in the same securities (holdings dated Oct 27, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ESML returned +17.7% and FFSM +14.5% with distributions reinvested, a gap of 3.2 points.
Data as of Oct 28, 2026.
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ESML
ESML tracks an index. Over the year to Oct 28, 2026 it returned +17.7% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.17% a year. By its holdings published by its issuer for Oct 27, 2026, 12% of the fund by weight is stocks the S&P 500 also holds, across 903 positions, with the top ten at 5.2%. It sat 5.3% below its high of Aug 14, 2026 on Oct 28, 2026.
FFSM
FFSM is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.5% with distributions reinvested. The prospectus expense ratio is 0.43% a year. By its holdings filed for Jul 31, 2026, 9% of the fund by weight is stocks the S&P 500 also holds, across 216 positions, with the top ten at 14.0%. It sat 11.3% below its high of Aug 17, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ESML or FFSM?
- In the year to Oct 28, 2026, with distributions reinvested, ESML returned +17.7% and FFSM +14.5%.
- Which is cheaper, ESML or FFSM?
- ESML is cheaper, by 0.26 percentage points a year. That is about $26 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ESML against FFSM, data as of Oct 28, 2026. https://etfiq.com/compare/any/esml-vs-ffsm
ETFIQ. (Oct 28, 2026). ESML against FFSM. Retrieved from https://etfiq.com/compare/any/esml-vs-ffsm
[ESML against FFSM (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/esml-vs-ffsm)
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