FSMD vs. FETH
Compare and contrast key facts about Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity Ethereum Fund (FETH).
FSMD and FETH 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. FETH is a passively managed fund by Fidelity that tracks the performance of the Fidelity Ethereum Reference Rate Index. It was launched on Jul 22, 2024. Both FSMD and FETH 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. FETH - Performance Comparison
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FSMD vs. FETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.72% | 8.70% | 3.14% |
FETH Fidelity Ethereum Fund | -29.48% | -11.37% | -3.61% |
Returns By Period
In the year-to-date period, FSMD achieves a 1.72% return, which is significantly higher than FETH's -29.48% return.
FSMD
- 1D
- 3.04%
- 1M
- -4.67%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 15.81%
- 3Y*
- 13.07%
- 5Y*
- 7.84%
- 10Y*
- —
FETH
- 1D
- 3.67%
- 1M
- 8.89%
- YTD
- -29.48%
- 6M
- -49.75%
- 1Y
- 14.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FSMD vs. FETH - Expense Ratio Comparison
FSMD has a 0.29% expense ratio, which is higher than FETH's 0.00% expense ratio.
Return for Risk
FSMD vs. FETH — Risk / Return Rank
FSMD
FETH
FSMD vs. FETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity Ethereum Fund (FETH). 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 | FETH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.19 | +0.60 |
Sortino ratioReturn per unit of downside risk | 1.26 | 0.84 | +0.41 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.10 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 0.19 | +1.15 |
Martin ratioReturn relative to average drawdown | 5.61 | 0.38 | +5.22 |
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 | FETH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.19 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | -0.35 | +0.82 |
Correlation
The correlation between FSMD and FETH is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FSMD vs. FETH - Dividend Comparison
FSMD's dividend yield for the trailing twelve months is around 1.37%, while FETH has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.37% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% |
FETH Fidelity Ethereum Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FSMD vs. FETH - Drawdown Comparison
The maximum FSMD drawdown since its inception was -40.67%, smaller than the maximum FETH drawdown of -64.00%. Use the drawdown chart below to compare losses from any high point for FSMD and FETH.
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Drawdown Indicators
| FSMD | FETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -64.00% | +23.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.63% | -61.74% | +49.11% |
Max Drawdown (5Y)Largest decline over 5 years | -22.16% | — | — |
Current DrawdownCurrent decline from peak | -5.65% | -56.86% | +51.21% |
Average DrawdownAverage peak-to-trough decline | -6.12% | -30.47% | +24.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 30.48% | -27.47% |
Volatility
FSMD vs. FETH - Volatility Comparison
The current volatility for Fidelity Small-Mid Multifactor ETF (FSMD) is 6.73%, while Fidelity Ethereum Fund (FETH) has a volatility of 19.25%. This indicates that FSMD experiences smaller price fluctuations and is considered to be less risky than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMD | FETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 19.25% | -12.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 53.53% | -42.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 75.83% | -55.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 74.85% | -56.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.54% | 74.85% | -53.31% |