Fidelity Enhanced Small Cap Core ETF (FESM) belongs to the Small Cap Blend Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FESM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to FESM
FESM charges 0.28% annually. There are 20 ETFs in the Small Cap Blend Equities category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Small-Cap ETF | 0.03% | 188.20B | Jan 2004 | FESM vs VB | |
| State Street SPDR Portfolio S&P 600 Small Cap ETF | 0.03% | 17.00B | Jul 2013 | FESM vs SPSM | |
| Schwab U.S. Small-Cap ETF | 0.04% | 22.23B | Nov 2009 | FESM vs SCHA | |
| iShares Morningstar Small-Cap ETF | 0.04% | 282.21M | Jun 2004 | FESM vs ISCB | |
| iShares Core S&P Small-Cap ETF | 0.06% | 109.63B | May 2000 | FESM vs IJR |
Best Risk-Adjusted Alternatives to FESM
FESM has a PortfoliosLab risk / return rank of 93. There are 6 ETFs in the Small Cap Blend Equities category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Russell 2000 Dynamic Daily Buffer ETF | 96 | — | Jun 2025 | FESM vs RB | |
| First Trust Small Cap Core AlphaDEX Fund | 95 | 1.37B | May 2007 | FESM vs FYX | |
| Victoryshares Small Cap Free Cash Flow ETF | 94 | 684.65M | Dec 2023 | FESM vs SFLO | |
| Hartford Multifactor Small Cap ETF | 94 | 61.48M | Mar 2015 | FESM vs ROSC | |
| Avantis US Small Cap Equity ETF | 94 | 3.05B | Jan 2022 | FESM vs AVSC |
Top Performing FESM Alternatives (YTD)
FESM is at 26.24% YTD. There are 7 ETFs in the Small Cap Blend Equities category with higher YTD returns, going as high as 56.19%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Direxion Daily Small Cap Bull 3X Shares | 56.19% | 1.35B | Nov 2008 | FESM vs TNA | |
| Victoryshares Small Cap Free Cash Flow ETF | 30.25% | 684.65M | Dec 2023 | FESM vs SFLO | |
| Inspire Small/Mid Cap Impact ETF | 30.08% | 334.88M | Feb 2017 | FESM vs ISMD | |
| Allspring SMID Core ETF | 29.71% | 78.82M | Jul 2025 | FESM vs ASCE | |
| First Trust Small Cap Core AlphaDEX Fund | 28.12% | 1.37B | May 2007 | FESM vs FYX |
Lowest Volatility Alternatives to FESM
FESM has 19.24% 1-year volatility. There are 59 ETFs in the Small Cap Blend Equities category with lower 1-year volatility, going as low as 6.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Russell 2000 Dynamic Daily Buffer ETF | 6.56% | — | Jun 2025 | FESM vs RB | |
| iShares MSCI USA Small-Cap Min Vol Factor ETF | 9.73% | 288.96M | Sep 2016 | FESM vs SMMV | |
| Global X Russell 2000 Covered Call ETF | 10.58% | 1.37B | Apr 2019 | FESM vs RYLD | |
| First Trust Horizon Managed Volatility Small/Mid E... | 10.73% | 35.21M | Apr 2020 | FESM vs HSMV | |
| CresAlta Small & Mid-Cap ETF | 11.58% | 88.99M | May 2026 | FESM vs CVSM |
Lowest Drawdown Alternatives to FESM
FESM has a 1-year max drawdown of -10.18%. There are 48 ETFs in the Small Cap Blend Equities category with shallower 1-year drawdowns, going as shallow as -2.09%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Russell 2000 Dynamic Daily Buffer ETF | -2.09% | — | Jun 2025 | FESM vs RB | |
| Global X Russell 2000 Covered Call ETF | -6.29% | 1.37B | Apr 2019 | FESM vs RYLD | |
| Hypatia Women CEO ETF | -6.96% | 5.55M | Jan 2023 | FESM vs WCEO | |
| iShares MSCI USA Small-Cap Min Vol Factor ETF | -7.02% | 288.96M | Sep 2016 | FESM vs SMMV | |
| 6 Meridian Small Cap Equity ETF | -7.16% | 106.31M | May 2020 | FESM vs SIXS |
Other ETFs from Fidelity
The 10 most viewed Fidelity ETFs shown here include FTEC, FDVV, FBTC and span 7 categories. AUM among these funds goes as high as $27B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Fidelity MSCI Information Technology Index ETF | Technology Equities | 61 | 22.53% | 20.96B | Oct 2013 | FESM vs FTEC | |
| Fidelity High Dividend ETF | Large Cap Blend Equities, Dividend | 82 | 13.00% | 9.74B | Sep 2016 | FESM vs FDVV | |
| Fidelity Wise Origin Bitcoin Fund | Cryptocurrency | 2 | -27.08% | 10.22B | Jan 2024 | FESM vs FBTC | |
| Fidelity Total Bond ETF | Intermediate Core-Plus Bond | 26 | -0.08% | 26.62B | Oct 2014 | FESM vs FBND | |
| Fidelity Nasdaq Composite Index ETF | Large Cap Growth Equities | 60 | 12.39% | 10.69B | Sep 2003 | FESM vs ONEQ | |
| Fidelity Blue Chip Growth ETF | Large Cap Growth Equities | 46 | 11.42% | 6.97B | Jun 2020 | FESM vs FBCG | |
| Fidelity Enhanced Large Cap Core ETF | Large Cap Blend Equities | 84 | 13.57% | 7.88B | Apr 2007 | FESM vs FELC | |
| Fidelity MSCI Utilities Index ETF | Utilities Equities | 21 | 4.95% | 2.35B | Oct 2013 | FESM vs FUTY | |
| Fidelity Ethereum Fund | Cryptocurrency | 4 | -37.15% | 750.93M | Jul 2024 | FESM vs FETH | |
| Fidelity Enhanced Large Cap Growth ETF | Large Cap Growth Equities | 35 | 4.21% | 5.65B | Nov 2023 | FESM vs FELG |
Often Compared With FESM
Investors most often compare FESM with AVUV, IWM, PVIVX. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare FESM with Any Fund or Stock
Compare FESM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair FESM with funds that move differently
Fidelity Enhanced Small Cap Core ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FESM.
Explore FESM Diversifiers