Data as of Oct 28, 2026.
FSMD vs RSP: Differences, Returns & Fees
Over the year to Oct 28, 2026, FSMD returned +16.5% to RSP's +16.0%; 7% 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 $99.8bn on Oct 27, 2026 for Invesco S&P 500 Equal Weight ETF.
Pair scorecard
FSMD costs 0.05 points a year less; their one-year returns differ by 0.5 points.
| Measure | FSMD | RSP |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +16.0% |
| Drawdown | ||
| Below its high | 5.3%, high on Aug 17, 2026 | |
| Benchmark | ||
| What it tracks | Fidelity Small-Mid Multifactor Index | S&P 500 Equal Weight Index |
| Cost and size | ||
| Expense ratio | 0.15% | 0.20% |
| Net assets, FSMD as of Sep 30, 2026 and RSP as of Oct 27, 2026 | $2.5bn | $99.8bn |
| Holdings | ||
| Holdings in common | 7% | |
| Top ten holdings, share of the fund | 8.2% | 2.7% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, FSMD and RSP hold 7% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
7% in common
Only in one fund ↓
Side by side
FSMD and RSP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FSMD and RSP do different jobs. What does each one do in a portfolio?
- What each follows. FSMD follows Fidelity Small-Mid Multifactor Index and RSP follows S&P 500 Equal Weight Index.
- Holdings in common. 7% of the weight is in the same securities (holdings dated Jul 31, 2026 and Oct 27, 2026).
- One-year total return (similar). Over 1 year to Oct 28, 2026 FSMD returned +16.5% and RSP +16.0% with distributions reinvested, a gap of 0.5 points.
Data as of Oct 28, 2026.
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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.
RSP
RSP tracks the S&P 500 equal weight. Over the year to Oct 28, 2026 it returned +16.0% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.20% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 508 positions, with the top ten at 2.7%.
Questions people ask
- Which returned more over the last year, FSMD or RSP?
- In the year to Oct 28, 2026, with distributions reinvested, FSMD returned +16.5% and RSP +16.0%.
- Which is cheaper, FSMD or RSP?
- FSMD is cheaper, by 0.05 percentage points a year. That is about $5 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, FSMD against RSP, data as of Oct 28, 2026. https://etfiq.com/compare/any/fsmd-vs-rsp
ETFIQ. (Oct 28, 2026). FSMD against RSP. Retrieved from https://etfiq.com/compare/any/fsmd-vs-rsp
[FSMD against RSP (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fsmd-vs-rsp)
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