FESM
Fidelity Enhanced Small Cap ETF
FESM is an actively managed fund that invests in US, small-cap companies.
US
EQUITY
Active
MANAGEMENT STYLE
1.1 B
ASSETS UNDER MGMT
28 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 20, 2007 |
| Assets (mns) | $1,109 |
| Expense ratio | 28 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| SPROUTS FARMERS MARKET INC | 0.9 % |
| ABERCROMBIE & FITCH CO-CL A | 0.9 % |
| CARPENTER TECHNOLOGY | 0.8 % |
| Q2 HOLDINGS INC | 0.8 % |
| PRIMO BRANDS CORP-A | 0.7 % |
| FABRINET | 0.7 % |
| SKYWEST INC | 0.7 % |
| ENERSYS | 0.7 % |
| TENABLE HOLDINGS, INC. | 0.7 % |
| PAYONEER GLOBAL INC. | 0.6 % |
Constituent Breakdown
| Number of holdings | 614 |
| Herfindahl-Hirschman Index | 32 |
| Wgt avg mkt cap (mns) | $3,474 |
| Large cap (>$10bn) | 4.2% |
| Mid cap ($2-10bn) | 58.3% |
| Small cap (<$2bn) | 36.6% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 92.2 % |
 |
CAYMAN ISLANDS | 0.7 % |
 |
IRELAND | 0.5 % |
Historical Performance
Standardized Performance (as of 12/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 18.2% | -- | -- | -- | -- | -- | 18.2% | Volatility | -- | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 1,275 |
| Turnover | 3.9% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $15,476 |
Technical Indicators
| Recent close | $33.90 |
| 30d moving avg. | $34.25 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
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. FESM |
Expenses vs. FESM |
ALTAR Score™ vs. FESM |
|---|---|---|---|---|
| RSSL | Global X Russell 2000 ETF | 38.3% | -20 bp | +1.2% |
| IWM | iShares Russell 2000 ETF | 37.4% | -9 bp | +1.4% |
| VTWO | Vanguard Russell 2000 ETF | 37.2% | -18 bp | +1.6% |
| GSSC | Goldman Sachs Activebeta U.S. Small Cap Equity ETF | 36.6% | -8 bp | +3.0% |
| IWO | iShares Russell 2000 Growth ETF | 34.1% | -4 bp | -0.9% |
| VTWG | Vanguard Russell 2000 Growth ETF | 34.0% | -13 bp | -0.8% |
| PSC | Principal U.S. Small-Cap ETF | 31.1% | +10 bp | +4.0% |
| OMFS | Invesco Russell 2000 Dynamic Multifactor ETF | 30.7% | +11 bp | +3.9% |
| BBSC | JPMorgan BetaBuilders U.S. Small Cap Equity ETF | 30.2% | -19 bp | +1.8% |
| JPSE | JPMorgan Diversified Return U.S. Small Cap Equity ETF | 29.6% | +1 bp | +5.7% |
Risk and Returns: FESM 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 1/22/2025
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
FESM
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
FESM
1.4%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 970 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.5%. FESM's ALTAR Score™ is approximately
1.6 standard deviations
below
the category average. This places FESM in the 5th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FESMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| FESM (28 bp) Percentile rank | 15 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FESM | 28.0 | 0.0 | 28 |
| Peer Avg. | 47.0 | 20.8 | 67.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .