ECML vs. FSEV

Last updated Aug 2, 2026

ECML (Euclidean Fundamental Value ETF) and FSEV (Fidelity Enhanced Small Cap Value ETF) are both Small Cap Value Equities funds. Both are actively managed. Their 0.69 correlation means they have sometimes moved together and sometimes differently. ECML charges 0.95%/yr vs 0.28%/yr for FSEV.

Performance

ECML vs. FSEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Euclidean Fundamental Value ETF (ECML) and Fidelity Enhanced Small Cap Value ETF (FSEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ECML

• 1D: -0.08%
• 1M: 2.28%
• 6M: 13.37%
• YTD: 19.84%
• 1Y: 32.00%
• 3Y*: 12.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.95%

FSEV

• 1D: -0.12%
• 1M: 0.91%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ECML Euclidean Fundamental Value ETF	$548.16K	$300.59K	$261.72K
FSEV Fidelity Enhanced Small Cap Value ETF	$42.23K	$50.63K	$44.19K

ECML vs. FSEV - Yearly Performance Comparison

	2026 (YTD)
ECML Euclidean Fundamental Value ETF	6.18%
FSEV Fidelity Enhanced Small Cap Value ETF	6.47%

Correlation

The correlation between ECML and FSEV is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026	0.69

ECML vs. FSEV - Sectors Allocation Comparison

Sectors	ECML	FSEV
Consumer Cyclical	24.6%	9.7%
Healthcare	14.4%	9.4%
Energy	13.2%	4.8%
Industrials	13.0%	12.1%
Consumer Defensive	12.3%	1.8%
Basic Materials	11.6%	4.5%
Technology	7.6%	9.9%
Communication Services	3.3%	2.1%
Utilities	1.4%	3.8%
Financial Services	-	27.0%
Real Estate	-	7.8%

Return for Risk

ECML vs. FSEV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECML

ECML Risk / Return Rank: 90
ECML Sharpe Ratio Rank: 90
ECML Sortino Ratio Rank: 92
ECML Omega Ratio Rank: 86
ECML Calmar Ratio Rank: 93
ECML Martin Ratio Rank: 88

FSEV

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECML vs. FSEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Euclidean Fundamental Value ETF (ECML) and Fidelity Enhanced Small Cap Value ETF (FSEV). 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.

	ECML	FSEV	Difference
Sharpe ratio: Return per unit of total volatility	2.23	—	—
Sortino ratio: Return per unit of downside risk	3.40	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	4.46	—	—
Martin ratio: Return relative to average drawdown	13.07	—	—

Drawdowns

ECML vs. FSEV - Drawdown Comparison

The maximum ECML drawdown since its inception was -24.66%, which is greater than FSEV's maximum drawdown of -4.16%. Use the drawdown chart below to compare losses from any high point for ECML and FSEV.

Drawdown Indicators

	ECML	FSEV	Difference
Max Drawdown Largest peak-to-trough decline	-24.66%	-4.16%	-20.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.66%	—	—
Current Drawdown Current decline from peak	-1.11%	-1.11%	0.00%
Average Drawdown Average peak-to-trough decline	-5.62%	-0.99%	-4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	—	—

Volatility

Volatility by Period

	ECML	FSEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	14.86%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.12%	14.86%	+3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.12%	14.86%	+3.26%

ECML vs. FSEV - Expense Ratio Comparison

ECML has a 0.95% expense ratio, which is higher than FSEV's 0.28% expense ratio.

Dividends

ECML vs. FSEV - Dividend Comparison

ECML's dividend yield for the trailing twelve months is around 1.15%, more than FSEV's 0.27% yield.

Position	TTM	2025	2024	2023
ECML Euclidean Fundamental Value ETF	1.15%	1.38%	0.98%	0.77%
FSEV Fidelity Enhanced Small Cap Value ETF	0.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ECML and FSEV in my portfolio?

ECML and FSEV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ECML or FSEV?

On fees, FSEV is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ECML or FSEV?

FSEV is cheaper with a 0.28% expense ratio, compared with 0.95% for ECML.

Which ETF pays a higher dividend yield, ECML or FSEV?

ECML has the higher dividend yield at 1.15%, compared with 0.27% for FSEV.

What is the main difference between ECML and FSEV?

They also come from different issuers: Euclidean and Fidelity. Their fees differ too: 0.95% for ECML and 0.28% for FSEV.