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
411.7 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 26, 2019 |
| Assets (mns) | $412 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TEXAS PACIFIC LAND CORPORATION | 0.4 % |
| EMCOR GROUP INC | 0.4 % |
| UNITED THERAPEUTICS CORP | 0.4 % |
| PURE STORAGE, INC. CLASS A | 0.4 % |
| INTERNATIONAL PAPER CO | 0.4 % |
| TOLL BROTHERS INC | 0.4 % |
| TOPBUILD CORP | 0.4 % |
| TECHNIPFMC PLC | 0.4 % |
| CASEY'S GENERAL STORES INC | 0.4 % |
| REINSURANCE GROUP OF AMERICA | 0.4 % |
Constituent Breakdown
| Number of holdings | 594 |
| Herfindahl-Hirschman Index | 20 |
| Wgt avg mkt cap (mns) | $7,157 |
| Large cap (>$10bn) | 29.6% |
| Mid cap ($2-10bn) | 58.4% |
| Small cap (<$2bn) | 11.4% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 93.3 % |
 |
BERMUDA | 0.9 % |
 |
IRELAND | 0.9 % |
 |
BRITAIN | 0.8 % |
 |
PUERTO RICO | 0.7 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 15.4% | 30.5% | 22.1% | 9.0% | 12.3% | -- | 11.6% | Volatility | 14.1% | 15.0% | 18.0% | 18.4% | 22.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.95 | 78% |
| MSCI EAFE | 0.93 | 73% |
| MSCI Emg Mkts | 0.64 | 33% |
Liquidity Measures
| Avg. volume (000) | 93 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.20% |
| ADV of underlying (mns) | $21,361 |
Technical Indicators
| Recent close | $41.21 |
| 30d moving avg. | $40.24 |
| Annualized volatility | 19.3% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.7% |
| Short interest (underlying) | 4.3% |
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 | 50.1% | -8 bp | -1.5% |
| EZM | WisdomTree U.S. MidCap Fund | 44.5% | +23 bp | +0.6% |
| BKMC | BNY Mellon US Mid Cap Core Equity ETF | 44.4% | -11 bp | -1.3% |
| ISCB | iShares Morningstar Small-Cap ETF | 44.2% | -11 bp | -2.1% |
| FNX | First Trust Mid Cap Core AlphaDEX Fund | 44.2% | +45 bp | -0.1% |
| VB | Vanguard Small-Cap ETF | 43.1% | -10 bp | -1.9% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 42.5% | +8 bp | -0.7% |
| IJH | iShares Core S&P Mid-Cap ETF | 42.5% | -10 bp | -0.5% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 42.3% | -12 bp | -0.5% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 42.1% | -5 bp | -0.5% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 10/4/2024
Peer Group Comparison Sample data. Subscribe for access.
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
FSMD
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
FSMD
7.1%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 936 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. FSMD's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places FSMD in the 73rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FSMDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| FSMD (15 bp) Percentile rank | 17 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FSMD | 15.0 | 20.1 | 35.1 |
| Peer Avg. | 29.9 | 13.7 | 43.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .