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FSEV

GradeBNew York Stock Exchange Arca

Fidelity Enhanced Small Cap Value ETF

Active Equity · Fidelity · Inception 2026-04-28

$25.85−0.24 (−0.91%)

As of Sep 23, 2026, 1:02 PM EDT

History starts Apr 30, 2026.History starts Apr 30, 2026.History starts Apr 30, 2026.
Intraday session: down, 4 prints from 26.09 to 25.85. Range 25.85 to 25.90. Use the arrow keys to read each point.$25.86$25.88$25.9010 AM12 PM2 PM4 PM
Expense ratio
0.28%
Fund size
$7M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
396
Volume · 30D
0M sh
NAV per share
$26.05
52W range
low $24.41high $27.97

The ETF.net FSEV Grade

B

63/ 100

Rank 17 of 66 in US Active Value⁠

Confidence Medium

Six-pillar profile for FSEV. Scores out of 100: Cost 86, Risk 54, Mission not scored, Tradability 25, Holdings 87, Durability 24. Strongest: Holdings (87). Weakest: Durability (24). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 63 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.
    AScore 86
    Category rank10/66 · top 15%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 54
    Category rank32/62 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 25
    Category rank51/66 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 87
    Category rank2/66 · top 3%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 24
    Category rank61/66 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FSEV

ETF.net Research

BFidelity's quants running active small-cap value, anchored to the Russell 2000 Value Index and priced at 0.28% a year. The market's dustiest corner, played cheap, by a fund that only opened its doors in 2026.

Stated mandate

The fund seeks capital appreciation and normally invests at least 80% of its assets in common stocks included in the Russell 2000 Value Index, which represents the U.S. small-cap value segment.

Why people hold it

  1. 010.28% a year for active management, well under what the typical active US small-cap fund charges.
  2. 02At least 80% of assets sit in Russell 2000 Value names, spread across roughly 400 stocks. The active decisions happen inside the index, not off the map.
  3. 03Undercuts BSVO on fee and lands within a few basis points of AVUV, the other funds benchmarked to the same Russell 2000 Value index.
  4. 04Uses Fidelity's Enhanced quant approach, the same playbook behind sibling FESM, which stands among the strongest entries in this small-cap group.

Worth knowing

  1. 01Opened in 2026: short track record, modest asset base, and lighter trading than the category's household names, which can mean wider bid-ask spreads.
  2. 02Active by design, so the model's picks can diverge from the Russell 2000 Value Index in either direction.
  3. 03Distributions arrive once or twice a year, not monthly.

FSEV Holdings

As of Sep 21, 2026, 3:36 PM
Asset class
Stocks
Holdings
396
Top-10 weight
8%
Largest holding
FLR0.9%

Sectors

  • Financials28.3%
  • Industrials13.2%
  • Health Care10.8%
  • Technology10.7%
  • Consumer Discr.9.8%
  • Real Estate7.3%
  • Energy6.6%
  • Materials5.2%
  • Utilities3.6%
  • Communication2.8%
  • Cons. Staples1.6%

Geography

  • United States93.89%
  • Bermuda1.94%
  • Ireland1.45%
  • Switzerland0.80%
  • Cayman Islands0.58%
  • Puerto Rico0.36%
  • Israel0.28%
  • United Kingdom0.23%
  • Other countries (4)0.46%
The fund’s holdings, weight-ordered — page 1 of 30.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001FLRFLUOR CORP0.91%1,074$59K147
002CMCCOMMERCIAL METALS CO0.90%904$58K181
003UMBFUMB FINANCIAL CORP0.89%429$58K164
004BFHBREAD FINANCIAL HOLDINGS INC0.85%510$55K158
005HOMBHOME BANCSHARES INC0.83%1,805$54K132
006CNOCNO FINANCIAL GROUP INC0.82%965$53K137
007NSITINSIGHT ENTERPRISES INC0.82%343$53K132
008PECOPHILLIPS EDISON & CO0.78%1,367$51K134
009PBFPBF ENERGY INC CL A0.73%618$48K158
010VLYVALLEY NATL BANCORP0.71%3,393$46K150
011IOSPINNOSPEC INC0.71%493$46K110
012VACMARRIOTT VACATIONS WORLD0.69%434$45K103
013CWKCUSHMAN & WAKEFIELD LTD0.67%3,530$44K117
014WSFSWSFS FINANCIAL CORP0.67%550$43K134
015AMRXAMNEAL PHARMACEUTICALS INC0.65%2,269$42K129

Showing 1–15 of 442 holdings

FSEV Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FSEV$9,944
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. FSEV $9,944. SPY $10,415. Use the arrow keys to read each point.$9,738$10,138$10,538Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

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.

Trailing total return for FSEV. Periods over one year show the average yearly return.
PeriodFSEV
Year to dateFund launched this year—
1 month−3.5%
3 months−0.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FSEV
YearReturn barFSEV
2026 YTD+4.1%

History from Apr 30, 2026

FSEV in the news

ETF.net Research hasn’t filed on FSEV yet — coverage lands here as it’s written.

FSEV Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 18, 2026 $0.07; Sep 18, 2026 $0.09. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.09
Jun 18, 2026Jun 23, 2026$0.07

FSEV Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
−0.12
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FSEV Cost

Expense ratio0.28%
  • The middle half of US Active Value funds
  • Median 0.55%

8 of the 66 US Active Value funds charge less.

FSEV costs $28.00 a year on $10,000. The median US Active Value fund costs $55.00.