BCSM vs. FEMG

Last updated Jul 17, 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. A 0.75 correlation means they provide meaningful diversification when combined. 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: -0.52%
• 1M: 1.35%
• 6M: -3.67%
• YTD: 0.81%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEMG

• 1D: -1.33%
• 1M: -1.76%
• 6M: —
• YTD: —
• 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	8.62%
FEMG Fidelity Enhanced Mid Cap Growth ETF	2.65%

Correlation

The correlation between BCSM and FEMG is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026	0.75

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.

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.

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

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 -4.66%. 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%	-4.66%	-12.79%
Current Drawdown Current decline from peak	-4.29%	-4.10%	-0.19%
Average Drawdown Average peak-to-trough decline	-6.73%	-1.52%	-5.21%

Volatility

Volatility by Period

	BCSM	FEMG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.09%	16.91%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.09%	16.91%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	16.91%	+3.18%

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

BCSM has not paid dividends to shareholders, while FEMG's dividend yield for the trailing twelve months is around 0.10%.

Position	TTM
BCSM Baron SMID Cap ETF	0.00%
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.10%

Frequently Asked Questions

Can I hold both BCSM and FEMG in my portfolio?

BCSM and FEMG have a correlation of 0.75, 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?

FEMG has the higher dividend yield at 0.10%, compared with 0.00% for BCSM.

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.