Fidelity Fundamental Small-Mid Cap ETF
$34.52−0.24 (−0.69%)
- Expense ratio
- 0.43%
- Fund size
- $1.6B
- 1Y return
- +19.3%
- Yield · Last 12 months
- 0.48%
- Volume · 30D
- 0.3M sh
- NAV per share
- $34.70
- 52W range
The ETF.net FFSM Grade
Score 62 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 69Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 79Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 37Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 60Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 72Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 88Category rank
Our read on FFSM
BFidelity's stock pickers turned loose on the Russell 2500. Small and mid caps are the corner of the US market where research still digs up overlooked names, and this one charges 0.43% a year to go looking.
The fund seeks long-term capital growth. It normally invests in equity securities of companies with small to medium market capitalizations.
Why people hold it
- 0.43% a year undercuts the 0.65% median for active US equity ETFs, and it is the cheapest of the three funds measured against the Russell 2500 (CGMM runs 0.51%, NBSM 0.75%).
- Stays in its declared lane: the prospectus commits it to equity of small and medium-cap companies, so there is no quiet drift up into mega caps.
- Rare shape for active small-mid: a multi-billion-dollar fund that trades regularly, so the usual small-cap-active worry about thin markets is smaller here.
- Scores as one of the stronger builds in a crowded active US equity field, with high confidence in the underlying evidence.
Worth knowing
- Small and mid caps move harder than large caps in both directions, and this fund holds that exposure straight up, with no hedge or buffer.
- Cheap for active, not cheap outright. Systematic peers such as DFAU (0.12%) and AVLC (0.15%) charge a fraction as much for broad US equity.
- Launched in 2021, so the record behind the stock picking is short by fund-history standards. Payouts land quarterly, not monthly.
FFSM Holdings
- Stocks
- —
- 14%
- IESC
Sectors
- Industrials19.3%
- Financials15.9%
- Technology14.1%
- Health Care12.5%
- Consumer Discr.12.4%
- Materials6.9%
- Real Estate5.7%
- Cons. Staples5.5%
- Energy4.7%
- Utilities2.5%
- Communication0.7%
Geography
- United States94.40%
- Bermuda1.73%
- Cayman Islands0.86%
- Canada0.85%
- United Kingdom0.79%
- Israel0.39%
- Puerto Rico0.32%
- Hong Kong0.29%
- 0.37%
FFSM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FFSM$11,935
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FFSM |
|---|---|
| Year to date | +13.7% |
| 1 month | −6.7% |
| 3 months | −8.0% |
| 1 year | +19.3% |
| 3 years | +19.1% |
| 5 years | +9.0% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FFSM |
|---|---|---|
| 2026 YTD | +13.7% | |
| 2025 | +14.9% | |
| 2024 | +14.4% | |
| 2023 | +17.3% | |
| 2022 | −16.4% | |
| 2021 | +19.8% |
FFSM in the news
FFSM Dividends
- 0.48%
- $0.17
- $0.05 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Sep 22, 2026 | $0.05 |
| Jun 18, 2026 | Jun 23, 2026 | $0.04 |
| Mar 20, 2026 | Mar 24, 2026 | $0.04 |
| Dec 19, 2025 | Dec 23, 2025 | $0.04 |
| Sep 19, 2025 | Sep 23, 2025 | $0.04 |
| Jun 20, 2025 | Jun 24, 2025 | $0.05 |
| Mar 21, 2025 | Mar 25, 2025 | $0.05 |
| Dec 20, 2024 | Dec 24, 2024 | $0.06 |
| Sep 20, 2024 | Sep 24, 2024 | $0.04 |
| Jun 21, 2024 | Jun 25, 2024 | $0.04 |
| Mar 15, 2024 | Mar 20, 2024 | $0.03 |
| Dec 15, 2023 | Dec 20, 2023 | $0.04 |
FFSM Risk
- 17.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.79
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −26.7%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.05
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FFSM Cost
0.43%
FFSM0.43%
- The middle half of US Active Small/Mid-Cap funds
- Median 0.55%
14 of the 47 US Active Small/Mid-Cap funds charge less.