- ISIN
- US3160925273
- CUSIP
- 316092527
- Issuer
- Fidelity
- Inception Date
- Feb 26, 2019
- Region
- North America (U.S.)
- Category
- Small Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Fidelity Small-Mid Multifactor Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $2B
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
FSMD Performance Chart
Fidelity Small-Mid Multifactor ETF (FSMD) is up 18.8% since the beginning of the year. FSMD is currently trading at $52 per share. Investors who bought $1,000 worth of FSMD shares 5 years ago would now be looking at an investment worth $1,669.
Loading charts...
Returns By Period
Fidelity Small-Mid Multifactor ETF (FSMD) has returned 18.77% so far this year and 30.47% over the past 12 months.
Fidelity Small-Mid Multifactor ETF
- 1D
- 0.91%
- 1M
- 5.08%
- YTD
- 18.77%
- 6M
- 16.11%
- 1Y
- 30.47%
- 3Y*
- 18.87%
- 5Y*
- 10.79%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FSMD Monthly Returns History
Based on dividend-adjusted daily data since Feb 28, 2019, FSMD's average daily return is +0.06%, while the average monthly return is +1.10%. At this rate, an investment would double in approximately 5.3 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2020 with a return of +14.0%, while the worst month was Mar 2020 at -20.7%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, FSMD closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +9.1%, while the worst single day was Mar 16, 2020 at -10.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.56% | 3.04% | -4.67% | 9.28% | 2.66% | 4.07% | 18.77% | ||||||
| 2025 | 3.30% | -3.72% | -4.01% | -1.84% | 5.23% | 2.88% | 1.04% | 4.58% | 0.82% | -1.98% | 2.76% | -0.17% | 8.70% |
| 2024 | -1.32% | 5.09% | 3.78% | -5.84% | 4.67% | -1.26% | 8.41% | 0.17% | 1.51% | -1.28% | 9.32% | -7.56% | 15.18% |
| 2023 | 7.48% | -1.23% | -2.59% | -1.18% | -2.42% | 7.88% | 3.76% | -2.08% | -4.67% | -4.46% | 8.04% | 9.12% | 17.37% |
| 2022 | -5.92% | 0.97% | 0.95% | -6.37% | 1.60% | -8.38% | 10.12% | -3.59% | -8.57% | 11.00% | 4.14% | -5.24% | -11.15% |
| 2021 | 2.65% | 5.87% | 4.68% | 3.78% | 0.95% | -0.35% | 0.18% | 2.14% | -2.99% | 4.46% | -2.97% | 5.77% | 26.40% |
Benchmark Metrics
Fidelity Small-Mid Multifactor ETF has an annualized alpha of -0.72%, beta of 0.94, and R2 of 0.76 versus S&P 500 Index. Calculated based on daily prices since February 28, 2019.
- This ETF participated in 98.83% of S&P 500 Index downside but only 91.21% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.94 and R2 of 0.76, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.72%
- Beta
- 0.94
- R²
- 0.76
- Upside Capture
- 91.21%
- Downside Capture
- 98.83%
Expense Ratio
FSMD has an expense ratio of 0.29%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FSMD ranks 65 for risk / return — better than 65% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FSMD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 2.78 | +0.84 |
| Martin ratioReturn relative to average drawdown | 13.05 | 12.44 | +0.61 |
Dividends
Dividend History
Fidelity Small-Mid Multifactor ETF provided a 1.22% dividend yield over the last twelve months, with an annual payout of $0.64 per share. The fund has been increasing its distributions for 6 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.64 | $0.59 | $0.53 | $0.50 | $0.48 | $0.42 | $0.38 | $0.37 |
Dividend yield | 1.22% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Small-Mid Multifactor ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | $0.34 | ||||||
| 2025 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.13 | $0.59 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.13 | $0.53 |
| 2023 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.50 |
| 2022 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.14 | $0.48 |
| 2021 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.06 | $0.42 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Small-Mid Multifactor ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Small-Mid Multifactor ETF was 40.67%, occurring on Mar 23, 2020. Recovery took 171 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -40.67%Mar 2020 | 1mo 2d | 8mo 5d | 9mo 7dFeb 2020 - Nov 2020 |
2025 selloff2025 | -22.16%Apr 2025 | 4mo 13d | 5mo 6d | 9mo 19dNov 2024 - Sep 2025 |
Bear market2022 | -20.63%Jun 2022 | 7mo 1d | 1y 6mo | 2y 27dNov 2021 - Dec 2023 |
2026 pullback2026 | -8.44%Mar 2026 | 1mo 1d | 14d | 1mo 15dFeb 2026 - Apr 2026 |
2019 pullback2019 | -7.33%May 2019 | 25d | 1mo 24d | 2mo 19dMay 2019 - Jul 2019 |
Drawdown Indicators
| FSMD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -56.78% | +16.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -9.10% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -22.16% | -18.90% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.16% | -25.43% | +3.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -10.71% | +4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 2.03% | +0.31% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with FSMD
Add Fidelity Small-Mid Multifactor ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with FSMD