FSMD vs. RCL
FSMD (Fidelity Small-Mid Multifactor ETF) is Small Cap Blend Equities fund tracking the Fidelity Small-Mid Multifactor Index, while RCL (Royal Caribbean Cruises Ltd.) is a stock. Over the past 5 years, FSMD returned 10.07%/yr vs 30.12%/yr for RCL. A 0.56 correlation means they provide meaningful diversification when combined.
Performance
FSMD vs. RCL - Performance Comparison
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Returns By Period
In the year-to-date period, FSMD achieves a 15.30% return, which is significantly higher than RCL's 3.68% return.
FSMD
- 1D
- -0.47%
- 1M
- -2.04%
- 6M
- 9.94%
- YTD
- 15.30%
- 1Y
- 22.01%
- 3Y*
- 15.26%
- 5Y*
- 10.07%
- 10Y*
- —
- ALL TIME*
- 11.63%
RCL
- 1D
- -0.28%
- 1M
- -8.43%
- 6M
- 4.77%
- YTD
- 3.68%
- 1Y
- -16.87%
- 3Y*
- 42.18%
- 5Y*
- 30.12%
- 10Y*
- 15.99%
- ALL TIME*
- 12.50%
FSMD vs. RCL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 15.30% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
RCL Royal Caribbean Cruises Ltd. | 3.68% | 22.46% | 78.98% | 161.97% | -35.72% | 2.96% | -43.50% | 15.52% |
Correlation
The correlation between FSMD and RCL is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.56 |
The correlation between FSMD and RCL has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.
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Return for Risk
FSMD vs. RCL — Risk / Return Rank
FSMD
RCL
FSMD vs. RCL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and Royal Caribbean Cruises Ltd. (RCL). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FSMD | RCL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.97 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | -0.52 | +3.14 |
| Martin ratioReturn relative to average drawdown | 9.08 | -0.85 | +9.93 |
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Drawdowns
FSMD vs. RCL - Drawdown Comparison
The maximum FSMD drawdown since its inception was -40.67%, smaller than the maximum RCL drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for FSMD and RCL.
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Drawdown Indicators
| FSMD | RCL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -89.49% | +48.82% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -32.36% | +23.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.16% | -35.02% | +12.86% |
Max Drawdown (5Y)Largest decline over 5 years | -22.16% | -67.64% | +45.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.30% | — |
Current DrawdownCurrent decline from peak | -4.41% | -20.44% | +16.03% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -27.73% | +21.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 19.85% | -17.42% |
Volatility
FSMD vs. RCL - Volatility Comparison
The current volatility for Fidelity Small-Mid Multifactor ETF (FSMD) is 4.36%, while Royal Caribbean Cruises Ltd. (RCL) has a volatility of 10.01%. This indicates that FSMD experiences smaller price fluctuations and is considered to be less risky than RCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMD | RCL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 10.01% | -5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 12.30% | 37.58% | -25.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.77% | 47.08% | -31.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.53% | 48.39% | -29.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.35% | 53.32% | -31.97% |
Dividends
FSMD vs. RCL - Dividend Comparison
FSMD's dividend yield for the trailing twelve months is around 1.26%, less than RCL's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.26% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% |
RCL Royal Caribbean Cruises Ltd. | 1.75% | 1.25% | 0.41% | 0.00% | 0.00% | 0.00% | 1.04% | 2.22% | 2.66% | 1.81% | 2.08% | 1.33% |
Frequently Asked Questions
FSMD and RCL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RCL has higher volatility (10.01%) compared to FSMD (4.36%). In terms of maximum drawdown, FSMD dropped -40.67% vs RCL's -89.49%.
FSMD currently has the higher Sharpe Ratio (1.41 vs -0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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