AMAEX vs. FESM
AMAEX (American Century Small Cap Dividend Fund) and FESM (Fidelity Enhanced Small Cap ETF) are both funds - AMAEX is a Small Cap Value Equities fund managed by American Century, while FESM is a Small Cap Blend Equities fund actively managed by Fidelity. Over the past year, AMAEX returned 27.69% vs 51.65% for FESM. Their correlation of 0.85 suggests significant overlap in exposure. AMAEX charges 1.13%/yr vs 0.28%/yr for FESM.
Performance
AMAEX vs. FESM - Performance Comparison
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Returns By Period
In the year-to-date period, AMAEX achieves a 22.65% return, which is significantly lower than FESM's 24.59% return.
AMAEX
- 1D
- 0.00%
- 1M
- 5.04%
- YTD
- 22.65%
- 6M
- 21.08%
- 1Y
- 27.69%
- 3Y*
- 12.79%
- 5Y*
- —
- 10Y*
- —
FESM
- 1D
- -0.78%
- 1M
- 4.79%
- YTD
- 24.59%
- 6M
- 22.07%
- 1Y
- 51.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMAEX vs. FESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AMAEX American Century Small Cap Dividend Fund | 22.65% | -4.42% | 11.05% | 10.01% |
FESM Fidelity Enhanced Small Cap ETF | 24.59% | 17.88% | 16.22% | 12.09% |
Correlation
The correlation between AMAEX and FESM is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.85 |
The correlation between AMAEX and FESM has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
AMAEX vs. FESM — Risk / Return Rank
AMAEX
FESM
AMAEX vs. FESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Small Cap Dividend Fund (AMAEX) 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.
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.
| AMAEX | FESM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.43 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 5.10 | -2.35 |
| Martin ratioReturn relative to average drawdown | 7.11 | 18.36 | -11.25 |
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Drawdowns
AMAEX vs. FESM - Drawdown Comparison
The maximum AMAEX drawdown since its inception was -23.97%, smaller than the maximum FESM drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for AMAEX and FESM.
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Drawdown Indicators
| AMAEX | FESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.97% | -26.93% | +2.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.70% | -10.18% | -0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -23.97% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.78% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -4.71% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 2.82% | +1.31% |
Volatility
AMAEX vs. FESM - Volatility Comparison
The current volatility for American Century Small Cap Dividend Fund (AMAEX) is 4.17%, while Fidelity Enhanced Small Cap ETF (FESM) has a volatility of 6.38%. This indicates that AMAEX 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.
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Volatility by Period
| AMAEX | FESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 6.38% | -2.21% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 14.11% | -3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 19.54% | -2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.62% | 21.32% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 21.32% | -1.70% |
AMAEX vs. FESM - Expense Ratio Comparison
AMAEX has a 1.13% expense ratio, which is higher than FESM's 0.28% expense ratio.
Dividends
AMAEX vs. FESM - Dividend Comparison
AMAEX's dividend yield for the trailing twelve months is around 1.76%, more than FESM's 0.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AMAEX American Century Small Cap Dividend Fund | 1.76% | 2.57% | 1.37% | 1.99% | 2.56% |
FESM Fidelity Enhanced Small Cap ETF | 0.73% | 0.82% | 1.08% | 0.06% | 0.00% |
Frequently Asked Questions
AMAEX and FESM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FESM has higher volatility (6.38%) compared to AMAEX (4.17%). In terms of maximum drawdown, AMAEX dropped -23.97% vs FESM's -26.93%.
FESM currently has the higher Sharpe Ratio (2.66 vs 1.75), 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.
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