FEMG vs. NBSM

Last updated Jun 4, 2026

FEMG (Fidelity Enhanced Mid Cap Growth ETF) and NBSM (Neuberger Small-Mid Cap ETF) are both Mid Cap Growth Equities funds. Both are actively managed. A 0.59 correlation means they provide meaningful diversification when combined. FEMG charges 0.23%/yr vs 0.65%/yr for NBSM.

Performance

FEMG vs. NBSM - Performance Comparison

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

Returns By Period

FEMG

• 1D: -0.84%
• 1M: 3.74%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NBSM

• 1D: -0.19%
• 1M: 0.41%
• YTD: 5.59%
• 6M: 3.81%
• 1Y: 8.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEMG vs. NBSM - Yearly Performance Comparison

	2026 (YTD)
FEMG Fidelity Enhanced Mid Cap Growth ETF	4.23%
NBSM Neuberger Small-Mid Cap ETF	-1.21%

Correlation

The correlation between FEMG and NBSM is 0.59, 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 May 1, 2026	0.59

FEMG vs. NBSM - Sectors Allocation Comparison

Sectors	FEMG	NBSM
Industrials	26.5%	32.3%
Technology	24.0%	17.8%
Consumer Cyclical	17.4%	5.0%
Healthcare	12.6%	8.4%
Financial Services	6.0%	16.4%
Energy	3.3%	7.2%
Utilities	2.9%	6.1%
Communication Services	2.7%	2.7%
Real Estate	1.8%	2.7%
Consumer Defensive	1.4%	-
Basic Materials	0.7%	1.5%

Return for Risk

FEMG vs. NBSM — Risk / Return Rank

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

NBSM

NBSM Risk / Return Rank: 20
NBSM Sharpe Ratio Rank: 19
NBSM Sortino Ratio Rank: 20
NBSM Omega Ratio Rank: 19
NBSM Calmar Ratio Rank: 21
NBSM Martin Ratio Rank: 22

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.

FEMG vs. NBSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Mid Cap Growth ETF (FEMG) and Neuberger Small-Mid Cap ETF (NBSM). 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

	FEMG	NBSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.78	0.13	+4.66

Drawdowns

FEMG vs. NBSM - Drawdown Comparison

The maximum FEMG drawdown since its inception was -3.29%, smaller than the maximum NBSM drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for FEMG and NBSM.

Drawdown Indicators

	FEMG	NBSM	Difference
Max Drawdown Largest peak-to-trough decline	-3.29%	-25.16%	+21.87%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.12%	—
Current Drawdown Current decline from peak	-1.18%	-5.11%	+3.93%
Average Drawdown Average peak-to-trough decline	-0.96%	-7.43%	+6.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.37%	—

Volatility

Volatility by Period

	FEMG	NBSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	14.98%	-2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	18.09%	-5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.29%	18.09%	-5.80%

FEMG vs. NBSM - Expense Ratio Comparison

FEMG has a 0.23% expense ratio, which is lower than NBSM's 0.65% expense ratio.

Dividends

FEMG vs. NBSM - Dividend Comparison

FEMG has not paid dividends to shareholders, while NBSM's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024
FEMG Fidelity Enhanced Mid Cap Growth ETF	0.00%	0.00%	0.00%
NBSM Neuberger Small-Mid Cap ETF	0.38%	0.40%	0.23%

Frequently Asked Questions

Can I hold both FEMG and NBSM in my portfolio?

FEMG and NBSM have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEMG or NBSM?

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, FEMG or NBSM?

FEMG is cheaper with a 0.23% expense ratio, compared with 0.65% for NBSM.

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

NBSM has the higher dividend yield at 0.38%, compared with 0.00% for FEMG.

What is the main difference between FEMG and NBSM?

They also come from different issuers: Fidelity and Neuberger Berman. Their fees differ too: 0.23% for FEMG and 0.65% for NBSM.