FFSM
Fidelity Fundamental Small-Mid Cap ETF
FSMO is an actively-managed, non-transparent ETF that invests in global stocks with small to medium capitalization.
Global
EQUITY
Active
MANAGEMENT STYLE
650.4 M
ASSETS UNDER MGMT
43 bp
EXPENSES
Fund Basics
| Fund sponsor | Fidelity |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 02, 2021 |
| Assets (mns) | $650 |
| Expense ratio | 43 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Non-transparent |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TEMPUR-PEDIC INTERNATIONAL | 1.8 % |
| BJ'S WHOLESALE CLUB HOLDINGS, INC. | 1.7 % |
| REGAL BELOIT CORP | 1.5 % |
| EMCOR GROUP INC | 1.4 % |
| ANTERO RESOURCES CORP | 1.4 % |
| TECHNIPFMC PLC | 1.4 % |
| US FOODS HOLDING CORP. | 1.3 % |
| MURPHY USA, INC. | 1.3 % |
| EAGLE MATERIALS INC | 1.2 % |
| PERFORMANCE FOOD GROUP COMPANY | 1.2 % |
Constituent Breakdown
| Number of holdings | 204 |
| Herfindahl-Hirschman Index | 69 |
| Wgt avg mkt cap (mns) | $8,884 |
| Large cap (>$10bn) | 42.9% |
| Mid cap ($2-10bn) | 51.5% |
| Small cap (<$2bn) | 4.8% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 76.0 % |
 |
BRITAIN | 1.4 % |
 |
CANADA | 1.3 % |
 |
ISRAEL | 1.0 % |
 |
COLOMBIA | 0.9 % |
 |
CAYMAN ISLANDS | 0.8 % |
 |
BERMUDA | 0.8 % |
 |
IRELAND | 0.7 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -- | -- | -- | -- | -- | -- | -- | -- |
| Dividend Yield | -- | -- | -- | -- | -- | -- | -- | -- |
| Total Returns | -- | -- | -- | -- | -- | -- | -- | -- | Ann. Volatility | 15.6% | 16.9% | 18.3% | 21.9% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 87% |
| MSCI EAFE | 1.09 | 80% |
| MSCI Emg Mkts | 0.75 | 42% |
Liquidity Measures
| Avg. volume (000) | 542 |
| Turnover | 2.0% |
| Avg. Bid/Ask (% of price) | 0.09% |
| ADV of underlying (mns) | $8,263 |
Technical Indicators
| Recent close | $24.43 |
| 30d moving avg. | $23.79 |
| Annualized volatility | 23.5% |
| Relative strength (RSI) | 64 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FFSM |
Expenses vs. FFSM |
ALTAR Score™ vs. FFSM |
|---|---|---|---|---|
| MIDE | Xtrackers S&P MidCap 400 ESG ETF | 21.4% | -28 bp | +1.9% |
| RWK | Invesco S&P MidCap 400 Revenue ETF | 19.8% | -4 bp | +3.8% |
| XMMO | Invesco S&P MidCap Momentum ETF | 19.8% | -9 bp | -0.9% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 19.7% | -28 bp | +1.1% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 19.2% | -19 bp | +1.1% |
| IJH | iShares Core S&P Mid-Cap ETF | 19.2% | -38 bp | +1.3% |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | 19.2% | -26 bp | -0.4% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 19.1% | -33 bp | +1.2% |
| IVOG | Vanguard S&P Mid-Cap 400 Growth ETF | 19.0% | -28 bp | -0.5% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 18.7% | -40 bp | +1.3% |
Risk and Returns: FFSM 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| 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
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 4/25/2025
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
FFSM
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™
FFSM
7.0%
Cat. Avg
5.2%
ALTAR Score™ Calculation
Category Overview
There are 360 funds in the Global Equity category, with an average ALTAR Score™
of 5.2% and a standard deviation of
3.5%. FFSM's ALTAR Score™ is approximately
0.5 standard deviations
above
the category average. This places FFSM in the 70th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FFSMSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active Global Equity ETFs |
| # of ETFs | 118 |
| Avg. Expense Ratio | 73.5 bp |
| Std. Deviation | 29.8 bp |
| FFSM (43 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) |
|
|---|---|---|---|
| FFSM | 43.0 | 8.9 | 51.9 |
| Peer Avg. | 66.0 | 28.4 | 94.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .