FSMD vs. VTSIX
Compare and contrast key facts about Fidelity Small-Mid Multifactor ETF (FSMD) and Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX).
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. VTSIX is managed by BlackRock. It was launched on Apr 21, 1999.
Performance
FSMD vs. VTSIX - Performance Comparison
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FSMD vs. VTSIX - 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% |
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 0.88% | 5.96% | 8.64% | 15.99% | -16.14% | 27.12% | 11.09% | 6.67% |
Returns By Period
In the year-to-date period, FSMD achieves a 1.72% return, which is significantly higher than VTSIX's 0.88% return.
FSMD
- 1D
- 3.04%
- 1M
- -4.67%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 15.81%
- 3Y*
- 13.07%
- 5Y*
- 7.84%
- 10Y*
- —
VTSIX
- 1D
- -0.72%
- 1M
- -6.66%
- YTD
- 0.88%
- 6M
- 2.55%
- 1Y
- 17.36%
- 3Y*
- 9.53%
- 5Y*
- 3.96%
- 10Y*
- 9.56%
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FSMD vs. VTSIX - Expense Ratio Comparison
FSMD has a 0.29% expense ratio, which is higher than VTSIX's 0.06% expense ratio.
Return for Risk
FSMD vs. VTSIX — Risk / Return Rank
FSMD
VTSIX
FSMD vs. VTSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small-Mid Multifactor ETF (FSMD) and Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX). 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 | VTSIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.80 | -0.01 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.26 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.04 | +0.30 |
Martin ratioReturn relative to average drawdown | 5.61 | 4.24 | +1.37 |
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 | VTSIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.80 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.18 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.42 | +0.05 |
Correlation
The correlation between FSMD and VTSIX is 0.95, 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. VTSIX - Dividend Comparison
FSMD's dividend yield for the trailing twelve months is around 1.37%, which matches VTSIX's 1.36% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VTSIX Vanguard Tax-Managed Small-Cap Fund Institutional Shares | 1.36% | 1.31% | 1.47% | 1.52% | 1.54% | 1.19% | 1.11% | 1.17% | 1.29% | 1.13% | 1.03% | 1.30% |
Drawdowns
FSMD vs. VTSIX - Drawdown Comparison
The maximum FSMD drawdown since its inception was -40.67%, smaller than the maximum VTSIX drawdown of -57.81%. Use the drawdown chart below to compare losses from any high point for FSMD and VTSIX.
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Drawdown Indicators
| FSMD | VTSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -57.81% | +17.14% |
Max Drawdown (1Y)Largest decline over 1 year | -12.63% | -14.85% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -22.16% | -27.92% | +5.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.86% | — |
Current DrawdownCurrent decline from peak | -5.65% | -8.24% | +2.59% |
Average DrawdownAverage peak-to-trough decline | -6.12% | -8.98% | +2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.64% | -0.63% |
Volatility
FSMD vs. VTSIX - Volatility Comparison
Fidelity Small-Mid Multifactor ETF (FSMD) has a higher volatility of 6.73% compared to Vanguard Tax-Managed Small-Cap Fund Institutional Shares (VTSIX) at 5.51%. This indicates that FSMD's price experiences larger fluctuations and is considered to be riskier than VTSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMD | VTSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.73% | 5.51% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 12.75% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 22.59% | -2.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 21.54% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.54% | 23.09% | -1.55% |