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DFMC vs FFSM

U.S. Micro Cap Portfolio ETF

DFMCANYSE Arca

Fidelity Fundamental Small-Mid Cap ETF

FFSMBCboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

DFMC0.43%FFSM0.43%

Avg volume · 30D

FFSM 16.4×the volume

DFMC26.2KFFSM429K

DFMC vs FFSM Performance

Jul 31, 2026 – Oct 30, 2026

−2.5%DFMC−7.1%FFSM

Jul 31, 2026 to Oct 30, 2026. DFMC −2.5%. FFSM −7.1%. Use the arrow keys to read each point.−5%0%2.5%5%Jul 2026Sep 2026Oct 2026
Expense ratio
DFMC 0.43%
FFSM 0.43%
Fund size
DFMC $7.6B
FFSM $1.44B
1Y total return
DFMC No data
FFSM +16.1%
Yield (12M)
DFMC No data
FFSM 0.49%
Holdings
DFMC 1734
FFSM 216
Avg volume (30D)
DFMC 26.2K sh
FFSM 429K sh, better
NAV per share
DFMC $58.34
FFSM $34.12
52W range

ETF.net Grade

DFMC: Cost 68, Risk 80, Mission not scored, Tradability 70, Holdings 93, Durability 99. FFSM: Cost 68, Risk 35, Mission 80, Tradability 61, Holdings 73, Durability 88.
Pillar letters and Scores for DFMC, FFSM, with each pillar’s weight
PillarDFMCFFSM
Cost30% weightB68B68
Mission25% weightNot scoredA80
Risk15% weightA80HigherD35
Tradability15% weightA70HigherB61
Holdings10% weightA93HigherA73
Durability5% weightA99HigherA88

Rank among US Active Small/Mid-Cap funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DFMC and FFSM are both graded against the same 47 US Active Small/Mid-Cap funds, so their Grades compare head to head.

US Active Small/Mid-Cap⁠

Category · 47 funds
See all 47 ›

DFMC ranks 3rd and FFSM 13th of 47 funds in the US Active Small/Mid-Cap Category.

  1. Rank 1AAVMCAvantis U.S. Mid Cap Equity ETFScore 89
  2. Rank 2AFEMVFidelity Enhanced Mid Cap Value ETFScore 79
  3. Rank 3ADFMCU.S. Micro Cap Portfolio ETFScore 76
  4. Rank 4AJMEEJPMorgan Small & Mid Cap Enhanced Equity ETFScore 72
  5. Rank 10BTMSLT. Rowe Price Small-Mid Cap ETFScore 63
  6. Rank 13BFFSMFidelity Fundamental Small-Mid Cap ETFScore 62
  7. Rank 14BJMIDJanus Henderson Mid Cap Growth Alpha ETFScore 60

Our read on each fund

ETF.net Research

DFMCAU.S. Micro Cap Portfolio ETF

FFSMBFidelity Fundamental Small-Mid Cap ETF

In short

DFMC Dimensional's micro-cap workhorse: a systematic sweep of the smallest US listed companies, a strategy dating to 1981, now in an ETF wrapper. Not an index tracker, and it charges less than the typical active US equity fund.

FFSM Fidelity'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.

Stated mandate

DFMC The Portfolio seeks long-term capital appreciation.

FFSM 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

  • DFMC Charges 0.43% a year, well under the median for active US equity funds, so the fee takes a smaller bite out of a hard-to-reach corner of the market.
  • The strategy dates to 1981 and now runs as a multi-billion-dollar portfolio: an unusually long run for anything pointed at micro caps.
  • Systematic rather than index-bound. Dimensional sifts the small end of the US market by its own rules instead of copying a published micro-cap benchmark.dimensional.com
  • One of the stronger implementations among the active US equity funds we grade, with risk control and portfolio construction the standout pieces.
  • FFSM 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

  • DFMC Thinly traded next to the big index names, so the cost of getting in and out can matter as much as the expense ratio, especially for larger orders.
  • It costs more than Dimensional's broad-market siblings, DFAU at 0.12% and DFAC at 0.17%, which own far bigger, more liquid companies.
  • Micro caps are the choppy end of the US market, and owning them is the entire job here. The mandate is long-term capital appreciation, not income.
  • FFSM 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.

Full DFMC profile⁠

Full FFSM profile⁠

DFMC vs FFSM Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DFMC vs FFSM Cost

Same expense ratio

$8,662

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DFMC 0.43%

    $8,662

  • FFSM 0.43%

    $8,662

$10,000
30 years

Cost over time

  • DFMC 0.43%
  • FFSM 0.43%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530DFMC $8,662FFSM $8,662

Year by year

YearDFMCFFSM
10$776$776
20$2,994$2,994
30$8,662$8,662

Expense ratio

  • 0.43%DFMC
  • 0.43%FFSM
  • Middle half of US Active Small/Mid-Cap funds
  • Median 0.55%

DFMC 15th cheapest of 47 funds

FFSM 15th cheapest of 47 funds

DFMC vs FFSM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DFMC No data
FFSM 0.49%
Payout (12M)
DFMC No data
FFSM $0.17
Last payment
DFMC $0.15
FFSM $0.05
Ex-dividend
DFMC Sep 29, 2026
FFSM Sep 18, 2026
Paid on
DFMC Oct 1, 2026
FFSM Sep 22, 2026
Frequency
DFMC Quarterly
FFSM Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

DFMCQuarterly · 2 paymentsAll DFMC payments⁠
One bar per payment. 2 payments from 2021 to 2026 YTD. Jun 29, 2026 $0.13; Sep 29, 2026 $0.15. Use the arrow keys to read each point.$0$0.1020232026YTD
FFSMQuarterly · 23 paymentsAll FFSM payments⁠
One bar per payment. 23 payments from 2021 to 2026 YTD. Mar 19, 2021 $0.01; Jun 18, 2021 $0.02; Sep 17, 2021 $0.04; Dec 17, 2021 $0.03; Mar 18, 2022 $0.02; Jun 17, 2022 $0.03; Sep 16, 2022 $0.04; Dec 16, 2022 $0.03; Mar 17, 2023 $0.04; Jun 16, 2023 $0.03; Sep 15, 2023 $0.03; Dec 15, 2023 $0.04; Mar 15, 2024 $0.03; Jun 21, 2024 $0.04; Sep 20, 2024 $0.04; Dec 20, 2024 $0.06; Mar 21, 2025 $0.05; Jun 20, 2025 $0.05; Sep 19, 2025 $0.04; Dec 19, 2025 $0.04; Mar 20, 2026 $0.04; Jun 18, 2026 $0.04; Sep 18, 2026 $0.05. Use the arrow keys to read each point.$0$0.1020232026YTD

DFMC vs FFSM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DFMC No dataFFSM 17.7%
Return per unit of riskSharpe ratio, 3 years
DFMC No dataFFSM 0.89
Worst fallMax drawdown, 5 years
DFMC No dataFFSM −26.7%
Market sensitivityBeta, 5 years
DFMC 0.53FFSM 1.07

DFMC and FFSM in the news

All news⁠

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