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Data as of Oct 28, 2026.

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FESM vs IWM: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FESM returned +23.0% to IWM's +14.1%; 33% 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 $75.5bn on Oct 27, 2026 for iShares Russell 2000 ETF.

FESM on its own →IWM on its own →
At a glance
+23.0%
FESM total return, 1 year
+14.1%
IWM total return, 1 year
0.28%
FESM expense ratio
0.19%
IWM expense ratio

Pair scorecard

IWM costs 0.09 points a year less; their one-year returns differ by 8.9 points; IWM is 12.2 times larger.

FESM vs IWM: Differences, Returns & Fees
MeasureFESMIWM
Return
Total return, 1 year+23.0%+14.1%
Drawdown
Below its high5.9%, high on Aug 14, 20267.6%, high on Aug 14, 2026
Benchmark
What it tracksNo index, actively managedRussell 2000 Index
Cost and size
Expense ratio0.28%0.19%
Net assets, as of Sep 30, 2026$6.4bn$78.0bn
Holdings
Holdings in common33%
Top ten holdings, share of the fund8.0%3.3%

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

What they share

33%

By the books each fund has filed, FESM and IWM hold 33% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.

0 half 100%

half

33% in common

Positions both hold · largest shared weight first FESM IWM
BRIGHTSPRING HEALTH SERVICES INC 0.44% 0.33%
CYTOKINETICS INC 0.33% 0.28%
HEALTHEQUITY INC 0.65% 0.28%
TWIST BIOSCIENCE CORP 0.26% 0.35%
ABERCROMBIE and FITCH CO 0.56% 0.25%
OSCAR HEALTH INC 0.33% 0.25%
ZURN ELKAY WATER SOLUTIONS CORP 0.32% 0.25%
COMMERCIAL METALS CO 0.60% 0.24%
COMMVAULT SYSTEMS INC 0.51% 0.24%
COMPASS INC 0.29% 0.24%
FEDERAL SIGNAL CORP 0.42% 0.24%
SILICON LABORATORIES INC 0.23% 0.25%
Only in one fund ↓
Only in FESM
GUARDANT HEALTH INC 1.09%
AXSOME THERAPEUTICS INC 0.63%
DYCOM INDUSTRIES INC 0.53%
FLUOR CORP NEW 0.49%
COMFORT SYSTEMS USA INC 0.48%
SANMINA CORP 0.48%
HUNTINGTON BANCSHARES INC 0.46%
COEUR MINING INC 0.44%
Only in IWM
JFROG 0.37%
MOOG INC CLASS A 0.34%
UMB FINANCIAL 0.33%
RYMAN HOSPITALITY PROPERTIES REIT 0.30%
VIASAT INC 0.30%
BRINKER INTERNATIONAL INC 0.29%
INTERDIGITAL INC 0.29%
JACKSON FINANCIAL CLASS A 0.29%
Check overlap with more funds →

Side by side

FESM Fidelity Enhanced Small Cap Core ETF IWM iShares Russell 2000 ETF
Where it sits Stock ETF Stock ETF
Issuer Fidelity iShares
What it is Actively managed Tracks the Russell 2000
Total return, 1 year +23.0% +14.1%
Its benchmark over the same days not measured +14.3% (VTWO)
Gap to its benchmark not measured −0.2 pts vs VTWO
Expense ratio 0.28% 0.19%
Already in the S&P 500 1.1% 0.0%
Holdings 779 1977
Net assets, FESM as of Sep 30, 2026 and IWM as of Oct 27, 2026 $6.4bn $75.5bn

FESM and IWM 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.

IWM

IWM tracks the Russell 2000. Over the year to Oct 28, 2026 it returned +14.1% with distributions reinvested, against +14.3% for its benchmark, the Russell 2000 Index. The prospectus expense ratio is 0.19% 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 1,977 positions, with the top ten at 3.3%. It sat 7.6% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FESM or IWM?
In the year to Oct 28, 2026, with distributions reinvested, FESM returned +23.0% and IWM +14.1%.
Which is cheaper, FESM or IWM?
IWM is cheaper, by 0.09 percentage points a year. That is about $9 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FESM and IWM overlap with the S&P 500?
By their latest filed holdings, 1% of FESM and 0% of IWM by weight is stocks the S&P 500 already holds.
Other comparisons
FESM vs VBFESM vs IJRFESM vs SCHAFESM vs VTWOIJT vs IWMFNDA vs IWMIWM vs SDVYIWM vs SPSM
Where to next
FESM on its own →IWM on its own →Hold both: look the portfolio through →Rankings →FESM dividend history →FESM holdings →IWM dividend history →IWM holdings →Standards and sources →
Sources and dates
FESM filings on SEC EDGAR ↗
FESM prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
IWM filings on SEC EDGAR ↗
IWM prospectus with the expense ratio (SEC) ↗
iShares page for IWM ↗

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

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