FESM vs. VTWO
Compare and contrast key facts about Fidelity Enhanced Small Cap ETF (FESM) and Vanguard Russell 2000 ETF (VTWO).
FESM and VTWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FESM is an actively managed fund by Fidelity. It was launched on Dec 20, 2007. VTWO is a passively managed fund by Vanguard that tracks the performance of the Russell 2000 Index. It was launched on Sep 20, 2010.
Performance
FESM vs. VTWO - Performance Comparison
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FESM vs. VTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FESM Fidelity Enhanced Small Cap ETF | 1.59% | 17.88% | 16.22% | 12.19% |
VTWO Vanguard Russell 2000 ETF | 1.54% | 12.90% | 11.55% | 12.43% |
Returns By Period
The year-to-date returns for both stocks are quite close, with FESM having a 1.59% return and VTWO slightly lower at 1.54%.
FESM
- 1D
- 0.76%
- 1M
- -4.92%
- YTD
- 1.59%
- 6M
- 5.19%
- 1Y
- 30.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTWO
- 1D
- 0.62%
- 1M
- -5.23%
- YTD
- 1.54%
- 6M
- 3.49%
- 1Y
- 26.61%
- 3Y*
- 13.37%
- 5Y*
- 3.63%
- 10Y*
- 9.96%
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FESM vs. VTWO - Expense Ratio Comparison
FESM has a 0.28% expense ratio, which is higher than VTWO's 0.10% expense ratio.
Return for Risk
FESM vs. VTWO — Risk / Return Rank
FESM
VTWO
FESM vs. VTWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Small Cap ETF (FESM) and Vanguard Russell 2000 ETF (VTWO). 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.
| FESM | VTWO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 1.15 | +0.19 |
Sortino ratioReturn per unit of downside risk | 1.91 | 1.70 | +0.21 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.91 | +0.36 |
Martin ratioReturn relative to average drawdown | 8.66 | 7.12 | +1.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FESM | VTWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 1.15 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.16 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.98 | 0.48 | +0.50 |
Correlation
The correlation between FESM and VTWO is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FESM vs. VTWO - Dividend Comparison
FESM's dividend yield for the trailing twelve months is around 0.63%, less than VTWO's 1.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FESM Fidelity Enhanced Small Cap ETF | 0.63% | 0.82% | 1.08% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTWO Vanguard Russell 2000 ETF | 1.25% | 1.25% | 1.21% | 1.45% | 1.48% | 1.13% | 0.92% | 1.36% | 1.41% | 1.18% | 1.27% | 1.23% |
Drawdowns
FESM vs. VTWO - Drawdown Comparison
The maximum FESM drawdown since its inception was -26.93%, smaller than the maximum VTWO drawdown of -41.19%. Use the drawdown chart below to compare losses from any high point for FESM and VTWO.
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Drawdown Indicators
| FESM | VTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.93% | -41.19% | +14.26% |
Max Drawdown (1Y)Largest decline over 1 year | -13.54% | -13.90% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.88% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.19% | — |
Current DrawdownCurrent decline from peak | -6.52% | -7.29% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -8.47% | +3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.55% | 3.74% | -0.19% |
Volatility
FESM vs. VTWO - Volatility Comparison
Fidelity Enhanced Small Cap ETF (FESM) and Vanguard Russell 2000 ETF (VTWO) have volatilities of 7.30% and 7.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FESM | VTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 7.38% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 14.44% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.99% | 23.29% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.48% | 22.49% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.48% | 23.04% | -1.56% |