FSMD vs. FLRG
Compare and contrast key facts about Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity U.S. Multifactor ETF (FLRG).
FSMD and FLRG 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. FLRG is a passively managed fund by Fidelity that tracks the performance of the Fidelity U.S. Multifactor Index. It was launched on Sep 15, 2020. Both FSMD and FLRG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FSMD or FLRG.
Key characteristics
| FSMD | FLRG | |
|---|---|---|
| YTD Return | 6.90% | 9.71% |
| 1Y Return | 23.93% | 23.12% |
| 3Y Return (Ann) | 5.84% | 9.85% |
| Sharpe Ratio | 1.65 | 2.14 |
| Daily Std Dev | 15.17% | 10.82% |
| Max Drawdown | -40.67% | -19.64% |
| Current Drawdown | -0.67% | -0.37% |
Correlation
The correlation between FSMD and FLRG is 0.85, 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.
Performance
FSMD vs. FLRG - Performance Comparison
In the year-to-date period, FSMD achieves a 6.90% return, which is significantly lower than FLRG's 9.71% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FSMD vs. FLRG - Expense Ratio Comparison
Both FSMD and FLRG have an expense ratio of 0.29%.
Risk-Adjusted Performance
FSMD vs. FLRG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and Fidelity U.S. Multifactor ETF (FLRG). 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.
Dividends
FSMD vs. FLRG - Dividend Comparison
FSMD's dividend yield for the trailing twelve months is around 1.26%, which matches FLRG's 1.26% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.26% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% |
FLRG Fidelity U.S. Multifactor ETF | 1.26% | 1.39% | 1.62% | 1.36% | 1.47% | 0.00% |
Drawdowns
FSMD vs. FLRG - Drawdown Comparison
The maximum FSMD drawdown since its inception was -40.67%, which is greater than FLRG's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for FSMD and FLRG. For additional features, visit the drawdowns tool.
Volatility
FSMD vs. FLRG - Volatility Comparison
Fidelity Small-Mid Multifactor ETF (FSMD) has a higher volatility of 3.66% compared to Fidelity U.S. Multifactor ETF (FLRG) at 3.22%. This indicates that FSMD's price experiences larger fluctuations and is considered to be riskier than FLRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.