FSMD
Fidelity Small-Mid Multifactor ETF
Fidelity Small-Mid Factor ETF is an exchange-traded fund incorporated in the USA. The fund seeks to track the performance of the Fidelity Small-Mid Factor Index.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 2.0 B
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Inception date | Feb 26, 2019 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ANGLOGOLD ASHANTI PLC | 0.7 % |
| CIENA CORP | 0.7 % |
| COMFORT SYSTEMS USA INC | 0.6 % |
| TAPESTRY, INC. | 0.5 % |
| REDDIT INC-CL A | 0.5 % |
| UNITED THERAPEUTICS CORP | 0.5 % |
| EMCOR GROUP INC | 0.5 % |
| FLEXTRONICS INTL LTD | 0.5 % |
| PURE STORAGE, INC. CLASS A | 0.4 % |
| CASEY'S GENERAL STORES INC | 0.4 % |
Constituent Breakdown
| Number of holdings | 598 |
| Herfindahl-Hirschman Index | 21 |
| Wgt avg mkt cap (mns) | $7,996 |
| Large cap (>$10bn) | 31.1% |
| Mid cap ($2-10bn) | 51.1% |
| Small cap (<$2bn) | 11.8% |
| Developed mkts. | 96.0% |
| Emerging mkts. | 0.1% |
Sector Breakdown
Country Exposure
 |
UNITED STATES | 91.1 % |
 |
BRITAIN | 1.6 % |
 |
BERMUDA | 0.9 % |
 |
IRELAND | 0.8 % |
 |
PUERTO RICO | 0.6 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.7% | 15.0% | 12.0% | 12.3% | 8.6% | -- | -- | 9.5% |
| Dividend Yield | 0.0% | 1.6% | 1.6% | 1.6% | 1.5% | -- | -- | 1.6% |
| Total Returns | 6.7% | 16.6% | 13.5% | 13.9% | 10.1% | -- | -- | 11.1% | Ann. Volatility | 14.1% | 19.9% | 17.9% | 17.4% | 18.4% | -- | -- | 21.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 80% |
| MSCI EAFE | 0.92 | 58% |
| MSCI Emg Mkts | 0.75 | 47% |
Liquidity Measures
| Avg. volume (000) | 154 |
| ADV traded (mns) | $7 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.34% |
Technical Indicators
| 30d moving avg. (EMA) | $45.26 |
| Relative strength (RSI) | 43 |
| MACD/Signal | -0.53/-0.50 |
| Bollinger Bands (Upper/Lower) | $46.89/$43.13 |
| Short interest (% of AUM) | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FSMD |
Expenses vs. FSMD |
ALTAR Score™ vs. FSMD |
|---|---|---|---|---|
| BBMC | JPMorgan BetaBuilders U.S. Mid Cap Equity ETF | 50.5% | -8 bp | -1.6% |
| JMEE | JPMorgan Market Expansion Enhanced Equity ETF | 46.9% | +9 bp | -0.8% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 46.0% | +8 bp | -0.9% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 46.0% | -8 bp | -0.8% |
| SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | 45.4% | -12 bp | -0.7% |
| IJH | iShares Core S&P Mid-Cap ETF | 45.4% | -10 bp | -0.8% |
| BKMC | BNY Mellon US Mid Cap Core Equity ETF | 45.4% | -11 bp | -1.4% |
| SCHM | Schwab U.S. Mid-Cap ETF | 45.2% | -11 bp | -1.0% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 44.6% | 0 bp | -0.7% |
| STXM | Strive Mid-Cap ETF | 43.8% | +3 bp | -1.5% |
Risk and Returns: FSMD vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/3/2026
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
7.9%
ALTAR SCORE™
85th
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 1,196 funds in the US Equity category with an average
ALTAR Score™ of 5.7% and a standard deviation
of 2.1%. FSMD's ALTAR Score™ is approximately 1.1 standard
deviations above the category average. This places FSMD in the 85th percentile
among funds in the category.
Sell-Side Consensus
$55.15
PRICE TARGET
+21.5%
UPSIDE