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FESM vs SGRW

Fidelity Enhanced Small Cap ETF

FESMANYSE Arca

Harbor Active Small Cap Growth ETF (SGRW)

SGRWDNYSE Arca

Overlap

Expense ratio

FESM −0.52pt a year

FESM0.28%SGRW0.80%

Avg volume · 30D

FESM 86.4×the volume

FESM1.02MSGRW11.8K

FESM vs SGRW Performance

Jul 31, 2026 – Oct 30, 2026

−2.3%FESM−1.1%SGRW

Jul 31, 2026 to Oct 30, 2026. FESM −2.3%. SGRW −1.1%. Use the arrow keys to read each point.−5%2.5%5%7.5%10%Jul 2026Sep 2026Oct 2026
Expense ratio
FESM 0.28%, better
SGRW 0.80%
Fund size
FESM $6.41B
SGRW $27M
1Y total return
FESM +23.4%
SGRW No data
Yield (12M)
FESM 0.86%
SGRW No data
Holdings
FESM 892
SGRW 129
Avg volume (30D)
FESM 1.02M sh, better
SGRW 11.8K sh
NAV per share
FESM $45.47
SGRW $24.08
52W range

ETF.net Grade

FESM: Cost 96, Risk 54, Mission 85, Tradability 93, Holdings 82, Durability 93. SGRW: Cost 14, Risk 22, Mission not scored, Tradability 55, Holdings 45, Durability 46.
Pillar letters and Scores for FESM, SGRW, with each pillar’s weight
PillarFESMSGRW
Cost30% weightA96HigherF14
Mission25% weightA85Not scored
Risk15% weightC54HigherF22
Tradability15% weightA93HigherB55
Holdings10% weightA82HigherC45
Durability5% weightA93HigherC46

Rank among US Active Small-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. FESM and SGRW are both graded against the same 39 US Active Small-Cap funds, so their Grades compare head to head.

US Active Small-Cap⁠

Category · 39 funds
See all 39 ›

FESM ranks 2nd and SGRW 30th of 39 funds in the US Active Small-Cap Category.

  1. Rank 1AAVSCAvantis U.S. Small Cap Equity ETFScore 88
  2. Rank 2AFESMFidelity Enhanced Small Cap ETFScore 85
  3. Rank 3ADFSVU.S. Small Cap Value Portfolio ETF Class SharesScore 82
  4. Rank 30DLITLSimplify Piper Sandler US Small-Cap PLUS Income ETFScore 29
  5. Rank 30DSGRWHarbor Active Small Cap Growth ETF (SGRW)Score 29
  6. Rank 30DSSCPSMART Small Cap ETFScore 29

Our read on each fund

ETF.net Research

FESMAFidelity Enhanced Small Cap ETF

SGRWDHarbor Active Small Cap Growth ETF (SGRW)

In short

FESM A quant small-cap strategy that has been running since 2007 and moved into an ETF wrapper in 2023 with the same mandate. It nudges the Russell 2000 rather than copying it, and charges far less than the typical active small-cap fund.

SGRW Harbor rents talent instead of building it: SGRW hands a US small-cap growth portfolio to Granahan, a boutique that has done nothing but small-cap growth for three decades. Real stock picking in an ETF wrapper, priced like a stock picker.

Stated mandate

FESM The fund is a diversified U.S. equity strategy focused on small-cap companies. It seeks to outperform its benchmark through a quantitative process that balances risk and return.

SGRW The Fund seeks long-term growth of capital.

Why people hold it

  • FESM Costs 0.28% a year, roughly half the median for active US small-cap ETFs. Cheap fuel for a strategy that only needs to beat its benchmark by a little.
  • The strategy dates to 2007 as a Fidelity mutual fund and kept the same objective when it converted to an ETF in 2023. Long history, newer ticker.fidelity.com
  • A multi-billion-dollar fund that trades actively, so getting in and out tends to be straightforward. One of the stronger builds in the active small-cap group.
  • Spreads across roughly 600 small-cap names, so no single blowup dominates. This is a diversified core sleeve, not a concentrated stock-picker bet.
  • SGRW Subadvised by Granahan, a firm that has specialized exclusively in small-cap growth for more than three decades and looks for emerging growth companies early in their life cycle.yahoo.com
  • A plain mandate, plainly stated: long-term growth of capital from US companies, run as a standard 1940 Act ETF with no leverage or options machinery bolted on.
  • Fundamental, team-based stock selection rather than a rules screen, delivered through Harbor's long-running model of packaging boutique managers into funds and ETFs.yahoo.com

Worth knowing

  • FESM Small caps are the choppiest corner of the US market, and this fund lives there full time. Expect a bumpier ride than a large-cap core holding.fidelity.com
  • Enhanced index means small tilts around the Russell 2000, not a break from it. Results track close to the index rather than looking dramatically different.fidelity.com
  • Cheap, but not the cheapest in the room: top-rated peers AVSC and AVUV run 0.25% and DUHP 0.20%.
  • SGRW The 0.80% fee sits above the active small-cap median (0.52%) and roughly triple systematic peers AVSC and AVUV at 0.25%, so the stock picking carries a higher bar.
  • Launched in January 2026, and the fund's own disclosures flag its limited operating history. Trading is thin next to the category's index giants, so the spread is part of the cost.yahoo.com
  • Small-cap growth is a bumpy corner of the market, and the fund's disclosures note the growth style can sit out of favor for long stretches.yahoo.com

Full FESM profile⁠

Full SGRW profile⁠

FESM vs SGRW 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.

FESM vs SGRW Cost

Overpaying SGRW vs FESM

$9,591

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

  • FESM 0.28%

    $5,755

  • SGRW 0.80%

    $15,346

$10,000
30 years

Cost over time

  • FESM 0.28%
  • SGRW 0.80%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SGRW $15,346FESM $5,755

Year by year

YearFESMSGRWOverpaying
10$509$1,422$913
20$1,976$5,393$3,417
30$5,755$15,346$9,591

Expense ratio

  • 0.28%FESM, cheaper
  • 0.80%SGRW
  • Middle half of US Active Small-Cap funds
  • Median 0.55%

FESM 2nd cheapest of 39 funds

SGRW 34th cheapest of 39 funds

FESM vs SGRW Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
FESM 0.86%
SGRW No data
Payout (12M)
FESM $0.39
SGRW None
Last payment
FESM $0.10
SGRW No data
Ex-dividend
FESM Sep 18, 2026
SGRW No data
Paid on
FESM Sep 22, 2026
SGRW No data
Frequency
FESM Quarterly
SGRW No data

Distribution history

Per share, 2023 to 2026, same scale for both

FESMQuarterly · 13 paymentsAll FESM payments⁠
One bar per payment. 13 payments from 2023 to 2026 YTD. Nov 14, 2023 $0.11; Dec 28, 2023 $0.02; Mar 15, 2024 $0.07; Jun 21, 2024 $0.05; Sep 20, 2024 $0.07; Dec 20, 2024 $0.16; Mar 21, 2025 $0.16; Jun 20, 2025 $0.01; Sep 19, 2025 $0.05; Dec 19, 2025 $0.08; Mar 20, 2026 $0.09; Jun 18, 2026 $0.11; Sep 18, 2026 $0.10. Use the arrow keys to read each point.$0$0.1020232026YTD
SGRWAll SGRW payments⁠

No distribution history available.

FESM vs SGRW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FESM 19.6%since Dec 2023SGRW No data
Return per unit of riskSharpe ratio, 3 years
FESM 0.97since Dec 2023SGRW No data
Worst fallMax drawdown, 5 years
FESM −26.9%since Nov 2023SGRW No data
Market sensitivityBeta, 5 years
FESM 1.34SGRW 1.49

FESM and SGRW in the news

All news⁠

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