Data as of Oct 28, 2026.
FESM vs FNDA: Differences, Returns & Fees
Over the year to Oct 28, 2026, FESM returned +23.0% to FNDA's +16.4%; 18% of their weight is in the same names.
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Net assets: $6.4bn on Sep 30, 2026 for Fidelity Enhanced Small Cap Core ETF, and $9.1bn on Aug 31, 2026 for Schwab Fundamental U.S. Small Company ETF.
Pair scorecard
FNDA costs 0.03 points a year less; their one-year returns differ by 6.6 points.
| Measure | FESM | FNDA |
|---|---|---|
| Return | ||
| Total return, 1 year | +23.0% | +16.4% |
| Drawdown | ||
| Below its high | 5.9%, high on Aug 14, 2026 | 6.3%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | not read by ETFIQ |
| Cost and size | ||
| Expense ratio | 0.28% | 0.25% |
| Net assets, FESM as of Sep 30, 2026 and FNDA as of Aug 31, 2026 | $6.4bn | $9.1bn |
| Holdings | ||
| Holdings in common | 18% | |
| Top ten holdings, share of the fund | 8.0% | 3.8% |
Holdings in common uses holdings dated Jun 30, 2026 and Aug 31, 2026. Method
Risk and return
Dec 1, 2023 to Oct 23, 2026 · 151 weekly returnsFESM returned more: +80.6% to +44.6%. FNDA swung less: 17.4% to 19.4%. FNDA fell slightly less at its worst: −22.5% to −24.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FESM | FNDA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +80.6% | +44.6% | FESM | Price change plus distributions, reinvested. |
| Annualized | +22.6% | +13.5% | FESM | Total return as a yearly rate. |
| Price return | +75.5% | +38.8% | FESM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.4% | 17.4% | FNDA | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.7% | 11.8% | FNDA (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.5% | −22.5% | FNDA (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.92 | 0.56 | FESM | Return above Treasury bills per unit of volatility. |
| Sortino | 1.41 | 0.83 | FESM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.92 | 0.60 | FESM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 151 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FESM and FNDA hold 18% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
18% in common
Only in one fund ↓
Side by side
FESM and FNDA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FESM and FNDA are built for the same job. How do they differ in cost, holdings and results?
- Holdings in common. 18% of the weight is in the same securities (holdings dated Jun 30, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FESM returned +23.0% and FNDA +16.4% with distributions reinvested, a gap of 6.6 points.
- Number of holdings (similar). FESM holds 779 positions and FNDA holds 913.
Data as of Oct 28, 2026.
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FESM
FESM is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +23.0% with distributions reinvested. The prospectus expense ratio is 0.28% a year. By its holdings filed for Jun 30, 2026, 1% of the fund by weight is stocks the S&P 500 also holds, across 779 positions, with the top ten at 8.0%. It sat 5.9% below its high of Aug 14, 2026 on Oct 28, 2026.
FNDA
FNDA tracks an index. Over the year to Oct 28, 2026 it returned +16.4% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.25% a year. By its holdings filed for Aug 31, 2026, 7% of the fund by weight is stocks the S&P 500 also holds, across 913 positions, with the top ten at 3.8%. It sat 6.3% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FESM or FNDA?
- In the year to Oct 28, 2026, with distributions reinvested, FESM returned +23.0% and FNDA +16.4%.
- Which is cheaper, FESM or FNDA?
- FNDA is cheaper, by 0.03 percentage points a year. That is about $3 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.
Cite this pageCitation, APA and Markdown
ETFIQ, FESM against FNDA, data as of Oct 28, 2026. https://etfiq.com/compare/any/fesm-vs-fnda
ETFIQ. (Oct 28, 2026). FESM against FNDA. Retrieved from https://etfiq.com/compare/any/fesm-vs-fnda
[FESM against FNDA (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fesm-vs-fnda)
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