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Data as of Oct 28, 2026.

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FESM vs FNX: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FESM returned +23.0% to FNX's +12.4%; 13% 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 $1.4bn on Oct 27, 2026 for First Trust Mid Cap Core AlphaDEX Fund.

FESM on its own →FNX on its own →
At a glance
+23.0%
FESM total return, 1 year
+12.4%
FNX total return, 1 year
0.28%
FESM expense ratio
0.62%
FNX expense ratio

Pair scorecard

FESM costs 0.34 points a year less; their one-year returns differ by 10.6 points.

FESM vs FNX: Differences, Returns & Fees
MeasureFESMFNX
Return
Total return, 1 year+23.0%+12.4%
Drawdown
Below its high5.9%, high on Aug 14, 20264.9%, high on Aug 14, 2026
Benchmark
What it tracksNo index, actively managedNasdaq AlphaDEX Mid Cap Core Index
Cost and size
Expense ratio0.28%0.62%
Net assets, FESM as of Sep 30, 2026 and FNX as of Oct 27, 2026$6.4bn$1.4bn
Holdings
Holdings in common13%
Top ten holdings, share of the fund8.0%4.4%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method

What they share

13%

By the books each fund has filed, FESM and FNX hold 13% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

0 half 100%

half

13% in common

Positions both hold · largest shared weight first FESM FNX
URBAN OUTFITTERS 0.45% 0.42%
SOUTHWEST GAS HOLDINGS INC 0.48% 0.41%
COMMERCIAL METALS CO 0.60% 0.37%
OSCAR HEALTH INC 0.33% 0.36%
FEDERATED HERMES INC 0.33% 0.36%
LIFE TIME GROUP HOLDINGS INC 0.47% 0.32%
MATERION CORP 0.32% 0.31%
BRIGHTSPRING HEALTH SERVICES INC 0.44% 0.29%
ENOVA INTERNATIONAL INC 0.44% 0.29%
SENSIENT TECHNOLOGIES CORP 0.53% 0.29%
NEW JERSEY RESOURCES CORP 0.28% 0.30%
SANMINA CORP 0.48% 0.28%
Only in one fund ↓
Only in FESM
GUARDANT HEALTH INC 1.09%
KULICKE and SOFFA INDUSTRIES INC 0.78%
TENABLE HOLDINGS INC 0.76%
KODIAK GAS SERVICES INC 0.71%
EXTREME NETWORKS INC 0.65%
PHILLIPS EDISON and CO INC 0.64%
TUTOR PERINI CORP 0.61%
WESBANCO INC 0.60%
Only in FNX
Range Resources Corporation 0.54%
Antero Resources Corporation 0.45%
APA Corporation 0.44%
CNX Resources Corporation 0.44%
EPAM Systems, Inc. 0.44%
Amentum Holdings, Inc. 0.43%
Genpact Limited 0.43%
Halozyme Therapeutics, Inc. 0.42%
Check overlap with more funds →

Side by side

FESM Fidelity Enhanced Small Cap Core ETF FNX First Trust Mid Cap Core AlphaDEX Fund
Where it sits Stock ETF Stock ETF
Issuer Fidelity First Trust
What it is Actively managed Tracks an index
Total return, 1 year +23.0% +12.4%
Its benchmark over the same days not measured +13.3% (IWV)
Gap to its benchmark not measured −0.9 pts vs IWV
Expense ratio 0.28% 0.62%
Already in the S&P 500 1.1% 8.2%
Holdings 779 451
Net assets, FESM as of Sep 30, 2026 and FNX as of Oct 27, 2026 $6.4bn $1.4bn

FESM and FNX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
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.

FNX

Over the year to Oct 28, 2026 it returned +12.4% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.

FNX tracks an index. The prospectus expense ratio is 0.62% a year. By its holdings published by its issuer for Oct 27, 2026, 8% of the fund by weight is stocks the S&P 500 also holds, across 451 positions, with the top ten at 4.4%. It sat 4.9% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FESM or FNX?
In the year to Oct 28, 2026, with distributions reinvested, FESM returned +23.0% and FNX +12.4%.
Which is cheaper, FESM or FNX?
FESM is cheaper, by 0.34 percentage points a year. That is about $34 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FESM and FNX overlap with the S&P 500?
By their latest filed holdings, 1% of FESM and 8% of FNX by weight is stocks the S&P 500 already holds.
Other comparisons
FESM vs FYXFESM vs FYCFESM vs RSSLFESM vs FFSMFNX vs IJTFNDA vs FNXFNX vs SDVYFNX vs SPSM
Where to next
FESM on its own →FNX on its own →Hold both: look the portfolio through →Rankings →FESM dividend history →FESM holdings →FNX dividend history →FNX holdings →Standards and sources →
Sources and dates
FESM filings on SEC EDGAR ↗
FESM prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
FNX filings on SEC EDGAR ↗
FNX prospectus with the expense ratio (SEC) ↗
First Trust page for FNX ↗

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, FESM against FNX, data as of Oct 28, 2026. https://etfiq.com/compare/any/fesm-vs-fnx

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.