Data as of Oct 28, 2026.
FFSM vs SCHA: Differences, Returns & Fees
Over the year to Oct 28, 2026, FFSM returned +14.5% to SCHA's +17.8%; 14% of their weight is in the same names.
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Net assets: $1.4bn on Sep 30, 2026 for Fidelity Fundamental Small-Mid Cap ETF, and $22.6bn on Aug 31, 2026 for Schwab U.S. Small-Cap ETF.
Pair scorecard
SCHA costs 0.40 points a year less; their one-year returns differ by 3.3 points.
| Measure | FFSM | SCHA |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.5% | +17.8% |
| Drawdown | ||
| Below its high | 11.3%, high on Aug 17, 2026 | 7.9%, high on Jun 30, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | Dow Jones U.S. Small-Cap Total Stock Market Index |
| Cost and size | ||
| Expense ratio | 0.43% | 0.03% |
| Net assets, FFSM as of Sep 30, 2026 and SCHA as of Aug 31, 2026 | $1.4bn | $22.6bn |
| Holdings | ||
| Holdings in common | 14% | |
| Top ten holdings, share of the fund | 14.0% | 10.1% |
Holdings in common uses holdings dated Jul 31, 2026 and Aug 31, 2026. Method
Risk and return
Feb 12, 2021 to Oct 23, 2026 · 297 weekly returnsFFSM returned more: +62.1% to +37.8%. FFSM swung slightly less: 18.8% to 20.2%. FFSM fell less at its worst: −26.3% to −30.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FFSM | SCHA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +62.1% | +37.8% | FFSM | Price change plus distributions, reinvested. |
| Annualized | +8.8% | +5.8% | FFSM | Total return as a yearly rate. |
| Price return | +57.0% | +27.6% | FFSM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.8% | 20.2% | FFSM (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.9% | 14.0% | FFSM (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −26.3% | −30.3% | FFSM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.36 | 0.21 | FFSM | Return above Treasury bills per unit of volatility. |
| Sortino | 0.52 | 0.30 | FFSM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.34 | 0.19 | FFSM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 297 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FFSM and SCHA hold 14% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.
half
14% in common
Only in one fund ↓
Side by side
FFSM and SCHA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FFSM and SCHA are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FFSM follows No index, actively managed and SCHA follows Dow Jones U.S. Small-Cap Total Stock Market Index.
- Holdings in common. 14% of the weight is in the same securities (holdings dated Jul 31, 2026 and Aug 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FFSM returned +14.5% and SCHA +17.8% with distributions reinvested, a gap of 3.3 points.
Data as of Oct 28, 2026.
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FFSM
FFSM is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.5% with distributions reinvested. The prospectus expense ratio is 0.43% a year. By its holdings filed for Jul 31, 2026, 9% of the fund by weight is stocks the S&P 500 also holds, across 216 positions, with the top ten at 14.0%. It sat 11.3% below its high of Aug 17, 2026 on Oct 28, 2026.
SCHA
SCHA tracks an index. Over the year to Oct 28, 2026 it returned +17.8% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% 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 1,705 positions, with the top ten at 10.1%. It sat 7.9% below its high of Jun 30, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FFSM or SCHA?
- In the year to Oct 28, 2026, with distributions reinvested, FFSM returned +14.5% and SCHA +17.8%.
- Which is cheaper, FFSM or SCHA?
- SCHA is cheaper, by 0.40 percentage points a year. That is about $40 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, FFSM against SCHA, data as of Oct 28, 2026. https://etfiq.com/compare/any/ffsm-vs-scha
ETFIQ. (Oct 28, 2026). FFSM against SCHA. Retrieved from https://etfiq.com/compare/any/ffsm-vs-scha
[FFSM against SCHA (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ffsm-vs-scha)
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