Which returned more over the last year, FSMD or FV?

In the year to Nov 4, 2026, with distributions reinvested, FSMD returned +20.2% and FV +20.0%.

Which is cheaper, FSMD or FV?

FSMD is cheaper, by 0.74 percentage points a year. That is about $74 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do FSMD and FV overlap with the S&P 500?

By their latest filed holdings, 15% of FSMD and 0% of FV by weight is stocks the S&P 500 already holds.

Data as of Nov 4, 2026.

Across categories

FSMD vs FV: Differences, Returns & Fees

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Over the year to Nov 4, 2026, FSMD returned +20.2% to FV's +20.0%; 0% of their weight is in the same names.

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Net assets: $2.5bn on Sep 30, 2026 for Fidelity Small-Mid Multifactor ETF, and $3.8bn on Nov 3, 2026 for First Trust Dorsey Wright Focus 5 ETF.

FSMD on its own →FV on its own →

At a glance

+20.2%

FSMD total return, 1 year

+20.0%

FV total return, 1 year

0.15%

FSMD expense ratio

0.89%

FV expense ratio

Pair scorecard

FSMD costs 0.74 points a year less; their one-year returns differ by 0.2 points.

FSMD vs FV: Differences, Returns & Fees
Measure	FSMD	FV
Return
Measure	FSMD	FV
Total return, 1 year	+20.2%	+20.0%
Drawdown
Measure	FSMD	FV
Below its high	4.3%, high on Aug 17, 2026	4.1%, high on Oct 28, 2026
Benchmark
Measure	FSMD	FV
What it tracks	Fidelity Small-Mid Multifactor Index	Dorsey Wright Focus Five Index
Cost and size
Measure	FSMD	FV
Expense ratio	0.15%	0.89%
Net assets, FSMD as of Sep 30, 2026 and FV as of Nov 3, 2026	$2.5bn	$3.8bn
Holdings
Measure	FSMD	FV
Holdings in common	0%
Top ten holdings, share of the fund	8.2%	99.9%

Method

What they share

By the books each fund has filed, FSMD and FV hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FSMD FV

Only in one fund ↓

Only in FSMD

SANDISK CORP 2.33%

COMFORT SYSTEMS USA INC 0.87%

CIENA CORP 0.78%

LUMENTUM HOLDINGS INC 0.75%

FLEX LTD 0.66%

COHERENT CORP 0.61%

REVOLUTION MEDICINES INC 0.59%

CASEY'S GENERAL STORES INC 0.55%

Only in FV

First Trust Nasdaq Pharmaceuticals ETF 22.02%

First Trust NYSE® Arca® Biotechnology Index Fund 21.16%

First Trust Nasdaq Oil & Gas ETF 20.98%

First Trust Technology AlphaDEX® Fund 18.53%

First Trust NASDAQ-100-Technology Sector Index Fund 17.19%

Check overlap with more funds →

Side by side

FSMD Fidelity Small-Mid Multifactor ETF FV First Trust Dorsey Wright Focus 5 ETF

Where it sits Stock ETF Stock ETF

Issuer Fidelity First Trust

What it is Tracks an index Tracks an index

Total return, 1 year +20.2% +20.0%

Its benchmark over the same days not measured +14.8% (VOO)

Gap to its benchmark not measured +5.2 pts vs VOO

Expense ratio 0.15% 0.89%

Already in the S&P 500 14.6% 0.0%

Holdings 586 5

Net assets, FSMD as of Sep 30, 2026 and FV as of Nov 3, 2026 $2.5bn $3.8bn

FSMD and FV on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Client brief:

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About each fund

FSMD

FSMD tracks an index. Over the year to Nov 4, 2026 it returned +20.2% 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 4.3% below its high of Aug 17, 2026 on Nov 4, 2026.

FV tracks an index. Over the year to Nov 4, 2026 it returned +20.0% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.89% a year. By its holdings published by its issuer for Nov 3, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 5 positions, with the top ten at 99.9%. It sat 4.1% below its high of Oct 28, 2026 on Nov 4, 2026.

Questions people ask

Which returned more over the last year, FSMD or FV?: In the year to Nov 4, 2026, with distributions reinvested, FSMD returned +20.2% and FV +20.0%.
Which is cheaper, FSMD or FV?: FSMD is cheaper, by 0.74 percentage points a year. That is about $74 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FSMD and FV overlap with the S&P 500?: By their latest filed holdings, 15% of FSMD and 0% of FV by weight is stocks the S&P 500 already holds.

Other comparisons

FSMD vs SMMD FSMD vs JMEE FSMD vs MDYG FSMD vs PRFZ FV vs MDYG FV vs JMEE FV vs TMSL FV vs VFMO

Where to next

FSMD on its own →FV on its own →Hold both: look the portfolio through →Rankings →FSMD dividend history →FSMD holdings →FV dividend history →FV holdings →Standards and sources →

Sources and dates

FSMD filings on SEC EDGAR ↗

FSMD prospectus with the expense ratio (SEC) ↗

Fidelity website ↗

FV filings on SEC EDGAR ↗

FV prospectus with the expense ratio (SEC) ↗

First Trust page for FV ↗

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, FSMD against FV, data as of Nov 4, 2026. https://etfiq.com/compare/any/fsmd-vs-fv

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