FSML vs. RUSC

Last updated Jul 17, 2026

FSML (Franklin Small Cap Enhanced ETF) and RUSC (U.S. Small Cap Equity Active ETF) are both Small Cap Blend Equities funds. Both are actively managed. With a 0.96 correlation, they move nearly in lockstep. FSML charges 0.45%/yr vs 0.64%/yr for RUSC.

Performance

FSML vs. RUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Small Cap Enhanced ETF (FSML) and U.S. Small Cap Equity Active ETF (RUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FSML having a 22.46% return and RUSC slightly higher at 22.90%.

FSML

• 1D: -0.31%
• 1M: 2.08%
• 6M: 13.95%
• YTD: 22.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RUSC

• 1D: 0.25%
• 1M: 1.79%
• 6M: 14.80%
• YTD: 22.90%
• 1Y: 37.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSML vs. RUSC - Yearly Performance Comparison

	2026 (YTD)	2025
FSML Franklin Small Cap Enhanced ETF	22.46%	-3.75%
RUSC U.S. Small Cap Equity Active ETF	22.90%	-2.24%

Correlation

The correlation between FSML and RUSC is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 11, 2025	0.96

Return for Risk

FSML vs. RUSC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSML

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

RUSC

RUSC Risk / Return Rank: 82
RUSC Sharpe Ratio Rank: 79
RUSC Sortino Ratio Rank: 81
RUSC Omega Ratio Rank: 75
RUSC Calmar Ratio Rank: 88
RUSC Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSML vs. RUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Small Cap Enhanced ETF (FSML) and U.S. Small Cap Equity Active ETF (RUSC). 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.

	FSML	RUSC	Difference
Sharpe ratio: Return per unit of total volatility	—	2.03	—
Sortino ratio: Return per unit of downside risk	—	2.90	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	4.05	—
Martin ratio: Return relative to average drawdown	—	14.32	—

Drawdowns

FSML vs. RUSC - Drawdown Comparison

The maximum FSML drawdown since its inception was -10.83%, which is greater than RUSC's maximum drawdown of -9.18%. Use the drawdown chart below to compare losses from any high point for FSML and RUSC.

Drawdown Indicators

	FSML	RUSC	Difference
Max Drawdown Largest peak-to-trough decline	-10.83%	-9.18%	-1.65%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.18%	—
Current Drawdown Current decline from peak	-2.78%	-2.04%	-0.74%
Average Drawdown Average peak-to-trough decline	-2.40%	-1.69%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.59%	—

Volatility

Volatility by Period

	FSML	RUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.35%	18.34%	+2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.35%	18.04%	+2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	18.04%	+2.31%

FSML vs. RUSC - Expense Ratio Comparison

FSML has a 0.45% expense ratio, which is lower than RUSC's 0.64% expense ratio.

Dividends

FSML vs. RUSC - Dividend Comparison

FSML's dividend yield for the trailing twelve months is around 0.39%, more than RUSC's 0.31% yield.

Position	TTM	2025
FSML Franklin Small Cap Enhanced ETF	0.39%	0.06%
RUSC U.S. Small Cap Equity Active ETF	0.31%	0.38%

Frequently Asked Questions

Can I hold both FSML and RUSC in my portfolio?

With a correlation of 0.96, FSML and RUSC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FSML or RUSC?

On fees, FSML is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSML or RUSC?

FSML is cheaper with a 0.45% expense ratio, compared with 0.64% for RUSC.

Which ETF pays a higher dividend yield, FSML or RUSC?

FSML has the higher dividend yield at 0.39%, compared with 0.31% for RUSC.

What is the main difference between FSML and RUSC?

They also come from different issuers: Franklin Templeton and Russell. Their fees differ too: 0.45% for FSML and 0.64% for RUSC.