FSMD vs. FDVV
Compare and contrast key facts about Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity High Dividend ETF (FDVV).
FSMD and FDVV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FSMD is a passively managed fund by Fidelity that tracks the performance of the Fidelity Small-Mid Multifactor Index. It was launched on Feb 26, 2019. FDVV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Core Dividend Index. It was launched on Sep 12, 2016. Both FSMD and FDVV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FSMD vs. FDVV - Performance Comparison
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FSMD vs. FDVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.72% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
FDVV Fidelity High Dividend ETF | -1.78% | 17.08% | 21.81% | 18.00% | -4.21% | 29.24% | 2.80% | 13.81% |
Returns By Period
In the year-to-date period, FSMD achieves a 1.72% return, which is significantly higher than FDVV's -1.78% return.
FSMD
- 1D
- 3.04%
- 1M
- -4.67%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 15.81%
- 3Y*
- 13.07%
- 5Y*
- 7.84%
- 10Y*
- —
FDVV
- 1D
- 2.35%
- 1M
- -5.66%
- YTD
- -1.78%
- 6M
- 0.65%
- 1Y
- 14.82%
- 3Y*
- 16.89%
- 5Y*
- 12.68%
- 10Y*
- —
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FSMD vs. FDVV - Expense Ratio Comparison
Both FSMD and FDVV have an expense ratio of 0.29%.
Return for Risk
FSMD vs. FDVV — Risk / Return Rank
FSMD
FDVV
FSMD vs. FDVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity High Dividend ETF (FDVV). 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.
| FSMD | FDVV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.97 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.41 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.23 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.29 | +0.04 |
Martin ratioReturn relative to average drawdown | 5.61 | 5.68 | -0.08 |
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
| FSMD | FDVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.97 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.86 | -0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.74 | -0.26 |
Correlation
The correlation between FSMD and FDVV is 0.86, 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
FSMD vs. FDVV - Dividend Comparison
FSMD's dividend yield for the trailing twelve months is around 1.37%, less than FDVV's 3.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.37% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% | 0.00% |
FDVV Fidelity High Dividend ETF | 3.00% | 2.89% | 2.94% | 3.77% | 3.44% | 2.70% | 3.19% | 3.93% | 4.05% | 3.66% | 1.04% |
Drawdowns
FSMD vs. FDVV - Drawdown Comparison
The maximum FSMD drawdown since its inception was -40.67%, roughly equal to the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FSMD and FDVV.
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Drawdown Indicators
| FSMD | FDVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -40.25% | -0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -12.63% | -12.34% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -22.16% | -20.18% | -1.98% |
Current DrawdownCurrent decline from peak | -5.65% | -7.04% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -6.12% | -3.85% | -2.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.81% | +0.20% |
Volatility
FSMD vs. FDVV - Volatility Comparison
Fidelity Small-Mid Multifactor ETF (FSMD) has a higher volatility of 6.73% compared to Fidelity High Dividend ETF (FDVV) at 4.48%. This indicates that FSMD's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMD | FDVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 4.48% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 7.68% | +3.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 15.34% | +4.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 14.74% | +3.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.54% | 17.09% | +4.45% |