ABLS vs. FESM

Last updated Jun 4, 2026

ABLS (Abacus FCF Small Cap Leaders ETF) and FESM (Fidelity Enhanced Small Cap ETF) are both Small Cap Blend Equities funds. ABLS is passively managed, while FESM is actively managed. Over the past year, ABLS returned 0.04% vs 46.73% for FESM. Their correlation of 0.84 suggests significant overlap in exposure. ABLS charges 0.39%/yr vs 0.28%/yr for FESM.

Performance

ABLS vs. FESM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Abacus FCF Small Cap Leaders ETF (ABLS) and Fidelity Enhanced Small Cap ETF (FESM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ABLS achieves a 2.75% return, which is significantly lower than FESM's 19.64% return.

ABLS

• 1D: -0.92%
• 1M: 0.47%
• YTD: 2.75%
• 6M: -0.23%
• 1Y: 0.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FESM

• 1D: -1.51%
• 1M: 3.13%
• YTD: 19.64%
• 6M: 19.11%
• 1Y: 46.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ABLS vs. FESM - Yearly Performance Comparison

	2026 (YTD)	2025
ABLS Abacus FCF Small Cap Leaders ETF	2.75%	-8.72%
FESM Fidelity Enhanced Small Cap ETF	19.64%	13.77%

Correlation

The correlation between ABLS and FESM is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.84

The correlation between ABLS and FESM has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

ABLS vs. FESM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ABLS

ABLS Risk / Return Rank: 9
ABLS Sharpe Ratio Rank: 9
ABLS Sortino Ratio Rank: 9
ABLS Omega Ratio Rank: 9
ABLS Calmar Ratio Rank: 9
ABLS Martin Ratio Rank: 9

FESM

FESM Risk / Return Rank: 76
FESM Sharpe Ratio Rank: 75
FESM Sortino Ratio Rank: 72
FESM Omega Ratio Rank: 66
FESM Calmar Ratio Rank: 84
FESM Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ABLS vs. FESM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Abacus FCF Small Cap Leaders ETF (ABLS) and Fidelity Enhanced Small Cap ETF (FESM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ABLS	FESM	Difference
Sharpe ratio: Return per unit of total volatility	0.00	2.48	-2.48
Sortino ratio: Return per unit of downside risk	0.13	3.34	-3.22
Omega ratio: Gain probability vs. loss probability	1.01	1.41	-0.39
Calmar ratio: Return relative to maximum drawdown	0.00	4.61	-4.61
Martin ratio: Return relative to average drawdown	0.01	16.60	-16.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ABLS vs. FESM - Sharpe Ratio Comparison

The current ABLS Sharpe Ratio is 0.00, which is lower than the FESM Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of ABLS and FESM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ABLS	FESM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	2.48	-2.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	1.29	-1.52

Drawdowns

ABLS vs. FESM - Drawdown Comparison

The maximum ABLS drawdown since its inception was -19.28%, smaller than the maximum FESM drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for ABLS and FESM.

Drawdown Indicators

	ABLS	FESM	Difference
Max Drawdown Largest peak-to-trough decline	-19.28%	-26.93%	+7.65%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-10.18%	-6.01%
Current Drawdown Current decline from peak	-6.21%	-1.59%	-4.62%
Average Drawdown Average peak-to-trough decline	-8.45%	-4.79%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.82%	2.82%	+3.00%

Volatility

ABLS vs. FESM - Volatility Comparison

The current volatility for Abacus FCF Small Cap Leaders ETF (ABLS) is 3.80%, while Fidelity Enhanced Small Cap ETF (FESM) has a volatility of 5.64%. This indicates that ABLS experiences smaller price fluctuations and is considered to be less risky than FESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ABLS	FESM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	5.64%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	13.32%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	18.98%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	21.26%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	21.26%	-0.01%

ABLS vs. FESM - Expense Ratio Comparison

ABLS has a 0.39% expense ratio, which is higher than FESM's 0.28% expense ratio.

Dividends

ABLS vs. FESM - Dividend Comparison

ABLS's dividend yield for the trailing twelve months is around 13.68%, more than FESM's 0.53% yield.

Position	TTM	2025	2024	2023
ABLS Abacus FCF Small Cap Leaders ETF	13.68%	14.04%	0.00%	0.00%
FESM Fidelity Enhanced Small Cap ETF	0.53%	0.82%	1.08%	0.06%

Frequently Asked Questions

Can I hold both ABLS and FESM in my portfolio?

ABLS and FESM have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ABLS or FESM?

FESM has higher volatility (5.64%) compared to ABLS (3.80%). In terms of maximum drawdown, ABLS dropped -19.28% vs FESM's -26.93%.

Which ETF is better, ABLS or FESM?

On 1-year performance, FESM leads with 46.73% vs 0.04% for ABLS. On fees, FESM is cheaper at 0.28% per year. On volatility, ABLS has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ABLS or FESM?

Over the 1-year period, FESM has performed better with a 46.73% return vs 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ABLS or FESM?

FESM is cheaper with a 0.28% expense ratio, compared with 0.39% for ABLS.

Which ETF pays a higher dividend yield, ABLS or FESM?

ABLS has the higher dividend yield at 13.68%, compared with 0.53% for FESM.

What is the main difference between ABLS and FESM?

They also come from different issuers: Abacus and Fidelity. Their fees differ too: 0.39% for ABLS and 0.28% for FESM.

Which has better risk-adjusted returns?

FESM currently has the higher Sharpe Ratio (2.48 vs 0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.