FSMD vs MDYG: Differences, Returns & Fees
FSMD and MDYG hold 34% of their weight in the same names, and FSMD returned +15.8% over the year. Net assets: $2.5bn on Sep 30, 2026 for Fidelity Small-Mid Multifactor ETF, and $2.8bn on Oct 20, 2026 for State Street SPDR S & P 400 Mid Cap Growth ETF.
Both cost 0.15% a year; their one-year returns differ by 0.9 points; MDYG is 1.1 times larger.
Points (pts) are percentage points.
| FSMD | MDYG | |
|---|---|---|
| Expense ratio | 0.15% | 0.15% |
| Net assets, as of Sep 30, 2026 | $2.5bn | $2.8bn |
| Total return, 1 year | +15.8% | +14.9% |
| What it tracks | Fidelity Small-Mid Multifactor Index | S&P MidCap 400 Growth Index |
| Holdings in common | 34% | |
| Top ten holdings, share of the fund | 8.2% | 13.6% |
| Below its high | 6.2%, high on Aug 17, 2026 | 8.2%, high on Aug 17, 2026 |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 19, 2026.
FSMD and MDYG are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FSMD follows Fidelity Small-Mid Multifactor Index and MDYG follows S&P MidCap 400 Growth Index.
- Holdings in common. 34% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 19, 2026).
- One-year total return (similar). Over 1 year to Oct 20, 2026 FSMD returned +15.8% and MDYG +14.9% with distributions reinvested, a gap of 0.9 points.
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, FSMD and MDYG hold 34% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 19, 2026.
half
34% in common
On the same fields
FSMD and MDYG on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About FSMD
FSMD tracks an index. Over the year to Oct 20, 2026 it returned +15.8% 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 6.2% below its high of Aug 17, 2026 on Oct 20, 2026.
About MDYG
MDYG tracks an index. Over the year to Oct 20, 2026 it returned +14.9% with distributions reinvested, against +14.9% for its benchmark, the S&P MidCap 400 Growth Index. By its holdings published by its issuer for Oct 19, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 247 positions, with the top ten at 13.6%. It sat 8.2% below its high of Aug 17, 2026 on Oct 20, 2026.
Questions people ask
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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 MDYG, data as of Oct 20, 2026. https://etfiq.com/compare/any/fsmd-vs-mdyg
ETFIQ. (Oct 20, 2026). FSMD against MDYG. Retrieved from https://etfiq.com/compare/any/fsmd-vs-mdyg
[FSMD against MDYG (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/fsmd-vs-mdyg)
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