BCSM vs. FEMG

Last updated Jun 5, 2026

BCSM (Baron SMID Cap ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. Both are actively managed. Their correlation of 0.87 suggests significant overlap in exposure. BCSM charges 0.75%/yr vs 0.23%/yr for FEMG.

Performance

BCSM vs. FEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Baron SMID Cap ETF (BCSM) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BCSM

• 1D: 0.82%
• 1M: 6.87%
• YTD: 1.24%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEMG

• 1D: 0.91%
• 1M: 3.86%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BCSM vs. FEMG - Yearly Performance Comparison

	2026 (YTD)
BCSM Baron SMID Cap ETF	7.36%
FEMG Fidelity Enhanced Mid Cap Growth ETF	5.19%

Correlation

The correlation between BCSM and FEMG is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 1, 2026	0.87

Return for Risk

BCSM vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Baron SMID Cap ETF (BCSM) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BCSM	FEMG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	5.84	-5.76

Drawdowns

BCSM vs. FEMG - Drawdown Comparison

The maximum BCSM drawdown since its inception was -17.45%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for BCSM and FEMG.

Drawdown Indicators

	BCSM	FEMG	Difference
Max Drawdown Largest peak-to-trough decline	-17.45%	-3.29%	-14.16%
Current Drawdown Current decline from peak	-3.27%	-0.28%	-2.99%
Average Drawdown Average peak-to-trough decline	-7.32%	-0.93%	-6.39%

Volatility

Volatility by Period

	BCSM	FEMG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	12.25%	+7.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	12.25%	+7.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.10%	12.25%	+7.85%

BCSM vs. FEMG - Expense Ratio Comparison

BCSM has a 0.75% expense ratio, which is higher than FEMG's 0.23% expense ratio.

Dividends

BCSM vs. FEMG - Dividend Comparison

Neither BCSM nor FEMG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BCSM and FEMG in my portfolio?

BCSM and FEMG have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BCSM or FEMG?

On fees, FEMG is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BCSM or FEMG?

FEMG is cheaper with a 0.23% expense ratio, compared with 0.75% for BCSM.

Which ETF pays a higher dividend yield, BCSM or FEMG?

BCSM and FEMG have nearly identical dividend yields, around 0.00%.

What is the main difference between BCSM and FEMG?

They also come from different issuers: Baron Capital and Fidelity. Their fees differ too: 0.75% for BCSM and 0.23% for FEMG.