Data as of Oct 28, 2026.
FPX vs FSMD: Differences, Returns & Fees
Over the year to Oct 28, 2026, FPX returned +2.9% to FSMD's +16.5%; 6% of their weight is in the same names.
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Net assets: $1.4bn on Oct 27, 2026 for First Trust US Equity Opportunities ETF, and $2.5bn on Sep 30, 2026 for Fidelity Small-Mid Multifactor ETF.
Pair scorecard
FSMD costs 0.42 points a year less; their one-year returns differ by 13.6 points.
| Measure | FPX | FSMD |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.9% | +16.5% |
| Drawdown | ||
| Below its high | 15.9%, high on Jun 30, 2026 | 5.3%, high on Aug 17, 2026 |
| Benchmark | ||
| What it tracks | IPOX -100 U.S. Index | Fidelity Small-Mid Multifactor Index |
| Cost and size | ||
| Expense ratio | 0.57% | 0.15% |
| Net assets, FPX as of Oct 27, 2026 and FSMD as of Sep 30, 2026 | $1.4bn | $2.5bn |
| Holdings | ||
| Holdings in common | 6% | |
| Top ten holdings, share of the fund | 46.4% | 8.2% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, FPX and FSMD hold 6% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
6% in common
Only in one fund ↓
Side by side
FPX and FSMD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FPX and FSMD do different jobs. What does each one do in a portfolio?
- What each follows. FPX follows IPOX -100 U.S. Index and FSMD follows Fidelity Small-Mid Multifactor Index.
- Holdings in common. 6% of the weight is in the same securities (holdings dated Oct 27, 2026 and Jul 31, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FPX returned +2.9% and FSMD +16.5% with distributions reinvested, a gap of 13.6 points.
Data as of Oct 28, 2026.
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FPX
FPX tracks an index. Over the year to Oct 28, 2026 it returned +2.9% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 27, 2026, 51% of the fund by weight is stocks the S&P 500 also holds, across 99 positions, with the top ten at 46.4%. It sat 15.9% below its high of Jun 30, 2026 on Oct 28, 2026.
FSMD
FSMD tracks an index. Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jul 31, 2026, 15% of the fund by weight is stocks the S&P 500 also holds, across 586 positions, with the top ten at 8.2%. It sat 5.3% below its high of Aug 17, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FPX or FSMD?
- In the year to Oct 28, 2026, with distributions reinvested, FPX returned +2.9% and FSMD +16.5%.
- Which is cheaper, FPX or FSMD?
- FSMD is cheaper, by 0.42 percentage points a year. That is about $42 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, FPX against FSMD, data as of Oct 28, 2026. https://etfiq.com/compare/any/fpx-vs-fsmd
ETFIQ. (Oct 28, 2026). FPX against FSMD. Retrieved from https://etfiq.com/compare/any/fpx-vs-fsmd
[FPX against FSMD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fpx-vs-fsmd)
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