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

In the year to Nov 4, 2026, with distributions reinvested, FSMD returned +20.2% and SMMD +22.4%.

Which is cheaper, FSMD or SMMD?

Neither: FSMD and SMMD both charge 0.15% a year. Fees come from each fund's prospectus.

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

By their latest filed holdings, 15% of FSMD and 10% of SMMD by weight is stocks the S&P 500 already holds.

Data as of Nov 4, 2026.

Across categories

FSMD vs SMMD: Differences, Returns & Fees

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Over the year to Nov 4, 2026, FSMD returned +20.2% to SMMD's +22.4%; 26% 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 $4.2bn on Nov 3, 2026 for iShares Russell 2500 ETF.

FSMD on its own →SMMD on its own →

At a glance

+20.2%

FSMD total return, 1 year

+22.4%

SMMD total return, 1 year

0.15%

FSMD expense ratio

0.15%

SMMD expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 2.2 points.

Points (pts) are percentage points.

FSMD vs SMMD: Differences, Returns & Fees
Measure	FSMD	SMMD
Return
Measure	FSMD	SMMD
Total return, 1 year	+20.2%	+22.4%
Drawdown
Measure	FSMD	SMMD
Below its high	4.3%, high on Aug 17, 2026	5.3%, high on Aug 14, 2026
Benchmark
Measure	FSMD	SMMD
What it tracks	Fidelity Small-Mid Multifactor Index	Russell 2500 Index
Cost and size
Measure	FSMD	SMMD
Expense ratio	0.15%	0.15%
Net assets, FSMD as of Sep 30, 2026 and SMMD as of Nov 3, 2026	$2.5bn	$4.2bn
Holdings
Measure	FSMD	SMMD
Holdings in common	26%
Top ten holdings, share of the fund	8.2%	43.4%

Method

What they share

26%

By the books each fund has filed, FSMD and SMMD hold 26% 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

26% in common

Positions both hold · largest shared weight first FSMD SMMD

ATI INC 0.41% 0.34%

TENET HEALTHCARE CORP 0.39% 0.30%

NVENT ELECTRIC PLC 0.39% 0.29%

WOODWARD INC 0.33% 0.28%

PERMIAN RESOURCES CORP 0.30% 0.26%

ROYAL GOLD INC 0.25% 0.27%

EAST WEST BANCORP INC 0.33% 0.25%

EXELIXIS INC 0.28% 0.25%

ITT INC 0.27% 0.25%

HF SINCLAIR CORP 0.31% 0.24%

JONES LANG LASALLE INC 0.30% 0.24%

NORDSON CORP 0.26% 0.24%

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 SMMD

ISHARES RUSSELL 2000 ETF 40.62%

GUARDANT HEALTH 0.31%

PACKAGING CORP OF AMERICA 0.31%

RELIANCE STEEL & ALUMINUM 0.31%

US FOODS HOLDING 0.31%

VIATRIS 0.31%

NISOURCE 0.30%

SOFI TECHNOLOGIES 0.30%

Check overlap with more funds →

Side by side

FSMD Fidelity Small-Mid Multifactor ETF SMMD iShares Russell 2500 ETF

Where it sits Stock ETF Stock ETF

Issuer Fidelity iShares

What it is Tracks an index Tracks an index

Total return, 1 year +20.2% +22.4%

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

Gap to its benchmark not measured +7.6 pts vs IWV

Expense ratio 0.15% 0.15%

Already in the S&P 500 14.6% 10.3%

Holdings 586 516

Net assets, FSMD as of Sep 30, 2026 and SMMD as of Nov 3, 2026 $2.5bn $4.2bn

FSMD and SMMD 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.

SMMD

Over the year to Nov 4, 2026 it returned +22.4% with distributions reinvested, against +14.8% for its benchmark, the Russell 3000 Index.

SMMD tracks an index. By its holdings published by its issuer for Nov 3, 2026, 10% of the fund by weight is stocks the S&P 500 also holds, across 516 positions, with the top ten at 43.4%. It sat 5.3% below its high of Aug 14, 2026 on Nov 4, 2026.

Questions people ask

Which returned more over the last year, FSMD or SMMD?: In the year to Nov 4, 2026, with distributions reinvested, FSMD returned +20.2% and SMMD +22.4%.
Which is cheaper, FSMD or SMMD?: Neither: FSMD and SMMD both charge 0.15% a year. Fees come from each fund's prospectus.
How much do FSMD and SMMD overlap with the S&P 500?: By their latest filed holdings, 15% of FSMD and 10% of SMMD by weight is stocks the S&P 500 already holds.

Other comparisons

FSMD vs IMCG FSMD vs FV FSMD vs IVOO FSMD vs IMCB IWR vs SMMD KOMP vs SMMD PRFZ vs SMMD MDYG vs SMMD

Where to next

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

Sources and dates

FSMD filings on SEC EDGAR ↗

FSMD prospectus with the expense ratio (SEC) ↗

Fidelity website ↗

SMMD filings on SEC EDGAR ↗

SMMD prospectus with the expense ratio (SEC) ↗

iShares page for SMMD ↗

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 SMMD, data as of Nov 4, 2026. https://etfiq.com/compare/any/fsmd-vs-smmd

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.