FMDE vs TMSL: Differences, Returns & Fees
FMDE and TMSL hold 13% of their weight in the same names. Net assets: $8.1bn on Sep 30, 2026 for Fidelity Enhanced Mid Cap Core ETF, and $3.1bn on Oct 20, 2026 for T. Rowe Price Small-Mid Cap ETF.
FMDE costs 0.32 points a year less; their one-year returns differ by 0.3 points; FMDE is 2.7 times larger.
| FMDE | TMSL | |
|---|---|---|
| Expense ratio | 0.23% | 0.55% |
| Net assets, as of Jun 30, 2026 | $7.4bn | $2.7bn |
| Total return, 1 year | +17.2% | +16.9% |
| What it tracks | No index, actively managed | No index, actively managed |
| Holdings in common | 13% | |
| Top ten holdings, share of the fund | 9.8% | 9.8% |
| Below its high | 3.1%, high on Aug 14, 2026 | 8.3%, high on Aug 14, 2026 |
Holdings in common uses holdings dated Jun 30, 2026.
FMDE and TMSL are built for the same job. How do they differ in cost, holdings and results?
- Holdings in common. 13% of the weight is in the same securities (holdings dated Jun 30, 2026).
- Cost. FMDE charges 0.23% of assets a year and TMSL 0.55%, a gap of 0.32 points.
- What each follows (similar). Both follow No index, actively managed.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, FMDE and TMSL hold 13% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026.
half
13% in common
On the same fields
FMDE and TMSL on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FMDE
FMDE is actively managed and tracks no index. Over the year to Oct 20, 2026 it returned +17.2% with distributions reinvested. The prospectus expense ratio is 0.23% a year. By its holdings filed for Jun 30, 2026, 60% of the fund by weight is stocks the S&P 500 also holds, across 421 positions, with the top ten at 9.8%. It sat 3.1% below its high of Aug 14, 2026 on Oct 20, 2026.
About TMSL
TMSL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 297 positions, with the top ten at 9.8%. It sat 8.3% below its high of Aug 14, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +16.9% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, FMDE or TMSL?
- In the year to Oct 20, 2026, with distributions reinvested, FMDE returned +17.2% and TMSL +16.9%.
- Which is cheaper, FMDE or TMSL?
- FMDE is cheaper, by 0.32 percentage points a year. That is about $32 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. 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.
Cite this pageCitation, APA and Markdown
ETFIQ, FMDE against TMSL, data as of Oct 20, 2026. https://etfiq.com/compare/any/fmde-vs-tmsl
ETFIQ. (Oct 20, 2026). FMDE against TMSL. Retrieved from https://etfiq.com/compare/any/fmde-vs-tmsl
[FMDE against TMSL (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/fmde-vs-tmsl)
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