FEMV vs RSMC

FEMVAFidelity Enhanced Mid Cap Value ETF

RSMCDRockefeller U.S. Small-Mid Cap ETF

In short

FEMV Active mid-cap value, priced like an index fund. FEMV hunts capital appreciation in the Russell Midcap Value corner of the US market for 0.23% a year, a fraction of the typical active US equity ETF fee.

RSMC Rockefeller's 30-plus years of small cap stock picking, packaged as an ETF. Launched in 2024, RSMC hunts smaller US companies with durable business models, and it arrived as one of the larger actively managed SMID funds on day one.

Stated mandate

FEMV The fund seeks capital appreciation and targets the U.S. mid-cap value segment of the equity market.

RSMC The fund seeks long-term capital appreciation by investing in U.S. small- and mid-capitalization equity securities.

Why people hold it

• FEMV 0.23% a year, well under the going rate for active US equity ETFs. At that price, cost stops being the argument against going active.
• The mandate is stated plainly: US mid-cap value, measured against the Russell Midcap Value index, aiming at capital appreciation. Little guesswork about what you own.fidelity.com
• The portfolio mix and risk profile screen well against other active US stock ETFs, with no leverage, derivatives quirks or unusual wrapper features flagged in the structure.
• Part of Fidelity's Enhanced lineup, whose large-cap sibling FELC (0.18%) ranks among the strongest active US equity funds in the peer group.

• RSMC Real pedigree behind the picks: two named veteran portfolio managers running a quality-focused SMID approach built on Rockefeller's 30-plus year small cap history.rockco.com
• Does what the label says. The book stays inside its stated lane of US small- and mid-cap stocks, with no drift into large caps or overseas names.
• A pure growth mandate, not an income one. The stated objective is long-term capital appreciation, and the fund has not been paying a regular distribution.

Worth knowing

• FEMV Launched in 2026, so there is no long record to lean on and the risk read rests on a short history.
• A small asset base and thin trading volume are the trade-off for being early. Spreads can run wider than at a mega-fund, especially in fast markets.
• Distributions land once or twice a year, not monthly. This is a growth-of-capital mandate, not an income schedule.

• RSMC The 0.75% expense ratio sits above the typical active US equity fund, and well above index-style rivals like DFAC (0.17%) and AVLC (0.15%).
• Thinly traded despite its size, so bid-ask spreads can widen out more than they do on the category's household names.
• Short history: it opened in October 2024, so there is not yet a long record to judge, and small and mid caps swing harder than large caps.

Full FEMV profile⁠

Full RSMC profile⁠