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Data as of Oct 28, 2026.

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FESM vs FYX: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FESM returned +23.0% to FYX's +26.2%; 20% 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 Small Cap Core AlphaDEX Fund.

FESM on its own →FYX on its own →
At a glance
+23.0%
FESM total return, 1 year
+26.2%
FYX total return, 1 year
0.28%
FESM expense ratio
0.58%
FYX expense ratio

Pair scorecard

FESM costs 0.30 points a year less; their one-year returns differ by 3.2 points.

FESM vs FYX: Differences, Returns & Fees
MeasureFESMFYX
Return
Total return, 1 year+23.0%+26.2%
Drawdown
Below its high5.9%, high on Aug 14, 20265.0%, high on Aug 4, 2026
Benchmark
What it tracksNo index, actively managedNasdaq AlphaDEX Small Cap Core Index
Cost and size
Expense ratio0.28%0.58%
Net assets, FESM as of Sep 30, 2026 and FYX as of Oct 27, 2026$6.4bn$1.4bn
Holdings
Holdings in common20%
Top ten holdings, share of the fund8.0%3.9%

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

What they share

20%

By the books each fund has filed, FESM and FYX hold 20% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

0 half 100%

half

20% in common

Positions both hold · largest shared weight first FESM FYX
NMI HOLDINGS INC 0.36% 0.35%
AVISTA CORP 0.35% 0.33%
TENABLE HOLDINGS INC 0.76% 0.33%
ENCORE CAPITAL GROUP INC 0.47% 0.32%
RESIDEO TECHNOLOGIES INC 0.45% 0.31%
YELP INC 0.46% 0.31%
BGC GROUP INC 0.37% 0.30%
DELEK US HOLDINGS INC 0.32% 0.30%
KENNAMETAL INC 0.52% 0.30%
SKYWEST INC 0.49% 0.30%
SUNRUN INC 0.39% 0.30%
M/I HOMES INC 0.42% 0.29%
Only in one fund ↓
Only in FESM
GUARDANT HEALTH INC 1.09%
MAXLINEAR INC 0.96%
ACM RESEARCH INC 0.90%
KULICKE and SOFFA INDUSTRIES INC 0.78%
ENERSYS 0.77%
PLEXUS CORP 0.72%
KODIAK GAS SERVICES INC 0.71%
HEALTHEQUITY INC 0.65%
Only in FYX
DXC Technology Company 0.45%
Kohl's Corporation 0.39%
Academy Sports and Outdoors, Inc. 0.38%
Amplitude, Inc. (Class A) 0.38%
Comstock Resources, Inc. 0.37%
Fortrea Holdings Inc. 0.37%
Harley-Davidson, Inc. 0.37%
Mattel, Inc. 0.37%
Check overlap with more funds →

Side by side

FESM Fidelity Enhanced Small Cap Core ETF FYX First Trust Small 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% +26.2%
Its benchmark over the same days not measured +13.3% (IWV)
Gap to its benchmark not measured +12.9 pts vs IWV
Expense ratio 0.28% 0.58%
Already in the S&P 500 1.1% 0.0%
Holdings 779 525
Net assets, FESM as of Sep 30, 2026 and FYX as of Oct 27, 2026 $6.4bn $1.4bn

FESM and FYX 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.

FYX

Over the year to Oct 28, 2026 it returned +26.2% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.

FYX tracks an index. The prospectus expense ratio is 0.58% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 525 positions, with the top ten at 3.9%. It sat 5.0% below its high of Aug 4, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FESM or FYX?
In the year to Oct 28, 2026, with distributions reinvested, FESM returned +23.0% and FYX +26.2%.
Which is cheaper, FESM or FYX?
FESM is cheaper, by 0.30 percentage points a year. That is about $30 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FESM and FYX overlap with the S&P 500?
By their latest filed holdings, 1% of FESM and 0% of FYX by weight is stocks the S&P 500 already holds.
Other comparisons
FESM vs VIOGFESM vs PSCFESM vs XSMOFESM vs VIOOFYX vs IJTFNDA vs FYXFYX vs SDVYFYX vs SPSM
Where to next
FESM on its own →FYX on its own →Hold both: look the portfolio through →Rankings →FESM dividend history →FESM holdings →FYX dividend history →FYX holdings →Standards and sources →
Sources and dates
FESM filings on SEC EDGAR ↗
FESM prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
FYX filings on SEC EDGAR ↗
FYX prospectus with the expense ratio (SEC) ↗
First Trust page for FYX ↗

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 FYX, data as of Oct 28, 2026. https://etfiq.com/compare/any/fesm-vs-fyx

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