Data as of Oct 28, 2026.
FESM vs GSSC: Differences, Returns & Fees
Over the year to Oct 28, 2026, FESM returned +23.0% to GSSC's +17.1%; 32% 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 $1.1bn on Oct 27, 2026 for GS ActiveBeta U.S. Small Cap Equity ETF.
Pair scorecard
GSSC costs 0.08 points a year less; their one-year returns differ by 5.9 points.
| Measure | FESM | GSSC |
|---|---|---|
| Return | ||
| Total return, 1 year | +23.0% | +17.1% |
| Drawdown | ||
| Below its high | 5.9%, high on Aug 14, 2026 | 4.9%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | Goldman Sachs ActiveBeta U.S. Small Cap Equity Index |
| Cost and size | ||
| Expense ratio | 0.28% | 0.20% |
| Net assets, FESM as of Sep 30, 2026 and GSSC as of Oct 27, 2026 | $6.4bn | $1.1bn |
| Holdings | ||
| Holdings in common | 32% | |
| Top ten holdings, share of the fund | 8.0% | 3.5% |
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 +53.5%. GSSC swung slightly less: 18.6% to 19.4%. GSSC fell slightly less at its worst: −22.8% to −24.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FESM | GSSC | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +80.6% | +53.5% | FESM | Price change plus distributions, reinvested. |
| Annualized | +22.6% | +15.9% | FESM | Total return as a yearly rate. |
| Price return | +75.5% | +47.6% | FESM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.4% | 18.6% | GSSC (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.7% | 12.3% | GSSC (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −24.5% | −22.8% | GSSC (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.92 | 0.65 | FESM | Return above Treasury bills per unit of volatility. |
| Sortino | 1.41 | 0.98 | FESM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.92 | 0.70 | 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 GSSC hold 32% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Aug 31, 2026.
half
32% in common
Only in one fund ↓
Side by side
FESM and GSSC on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FESM and GSSC are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FESM follows No index, actively managed and GSSC follows Goldman Sachs ActiveBeta U.S. Small Cap Equity Index.
- Holdings in common. 32% 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 GSSC +17.1% with distributions reinvested, a gap of 5.9 points.
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.
Over the year to Oct 28, 2026 it returned +17.1% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
GSSC tracks an index. The prospectus expense ratio is 0.20% a year. By its holdings filed for Aug 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,410 positions, with the top ten at 3.5%. 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 GSSC?
- In the year to Oct 28, 2026, with distributions reinvested, FESM returned +23.0% and GSSC +17.1%.
- Which is cheaper, FESM or GSSC?
- GSSC is cheaper, by 0.08 percentage points a year. That is about $8 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, FESM against GSSC, data as of Oct 28, 2026. https://etfiq.com/compare/any/fesm-vs-gssc
ETFIQ. (Oct 28, 2026). FESM against GSSC. Retrieved from https://etfiq.com/compare/any/fesm-vs-gssc
[FESM against GSSC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fesm-vs-gssc)
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