LX vs. FSMD

Last updated Jun 4, 2026

LX (LexinFintech Holdings Ltd.) is a stock, while FSMD (Fidelity Small-Mid Multifactor ETF) is Small Cap Growth Equities fund tracking the Fidelity Small-Mid Multifactor Index. Over the past 5 years, LX returned -25.26%/yr vs 9.66%/yr for FSMD. At a 0.32 correlation, their price movements are largely independent.

Performance

LX vs. FSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LexinFintech Holdings Ltd. (LX) and Fidelity Small-Mid Multifactor ETF (FSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LX achieves a -27.09% return, which is significantly lower than FSMD's 14.85% return.

LX

• 1D: -4.37%
• 1M: 3.79%
• YTD: -27.09%
• 6M: -25.96%
• 1Y: -65.24%
• 3Y*: 8.55%
• 5Y*: -25.26%
• 10Y*: —

FSMD

• 1D: -0.08%
• 1M: 3.46%
• YTD: 14.85%
• 6M: 14.81%
• 1Y: 25.71%
• 3Y*: 17.63%
• 5Y*: 9.66%
• 10Y*: —

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

LX vs. FSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LX LexinFintech Holdings Ltd.	-27.09%	-40.97%	242.61%	6.40%	-50.78%	-42.39%	-51.76%	19.23%
FSMD Fidelity Small-Mid Multifactor ETF	14.85%	8.70%	15.18%	17.37%	-11.15%	26.40%	8.94%	8.81%

Correlation

The correlation between LX and FSMD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019	0.32

Return for Risk

LX vs. FSMD — Risk / Return Rank

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

LX

LX Risk / Return Rank: 5
LX Sharpe Ratio Rank: 4
LX Sortino Ratio Rank: 3
LX Omega Ratio Rank: 4
LX Calmar Ratio Rank: 6
LX Martin Ratio Rank: 10

FSMD

FSMD Risk / Return Rank: 53
FSMD Sharpe Ratio Rank: 48
FSMD Sortino Ratio Rank: 50
FSMD Omega Ratio Rank: 46
FSMD Calmar Ratio Rank: 61
FSMD Martin Ratio Rank: 61

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.

LX vs. FSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LexinFintech Holdings Ltd. (LX) and Fidelity Small-Mid Multifactor ETF (FSMD). 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.

	LX	FSMD	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	1.69	-2.72
Sortino ratio: Return per unit of downside risk	-1.87	2.47	-4.34
Omega ratio: Gain probability vs. loss probability	0.78	1.30	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.91	3.06	-3.97
Martin ratio: Return relative to average drawdown	-1.33	11.03	-12.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LX vs. FSMD - Sharpe Ratio Comparison

The current LX Sharpe Ratio is -1.03, which is lower than the FSMD Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of LX and FSMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LX	FSMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.03	1.69	-2.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	0.53	-0.87
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.55	-0.51

Drawdowns

LX vs. FSMD - Drawdown Comparison

The maximum LX drawdown since its inception was -93.19%, which is greater than FSMD's maximum drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for LX and FSMD.

Drawdown Indicators

	LX	FSMD	Difference
Max Drawdown Largest peak-to-trough decline	-93.19%	-40.67%	-52.52%
Max Drawdown (1Y) Largest decline over 1 year	-72.18%	-8.44%	-63.74%
Max Drawdown (3Y) Largest decline over 3 years	-81.04%	-22.16%	-58.88%
Max Drawdown (5Y) Largest decline over 5 years	-90.23%	-22.16%	-68.07%
Current Drawdown Current decline from peak	-84.39%	-0.08%	-84.31%
Average Drawdown Average peak-to-trough decline	-63.29%	-6.00%	-57.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.99%	2.34%	+46.65%

Volatility

LX vs. FSMD - Volatility Comparison

LexinFintech Holdings Ltd. (LX) has a higher volatility of 22.06% compared to Fidelity Small-Mid Multifactor ETF (FSMD) at 4.45%. This indicates that LX's price experiences larger fluctuations and is considered to be riskier than FSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LX	FSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.06%	4.45%	+17.61%
Volatility (6M) Calculated over the trailing 6-month period	35.69%	11.37%	+24.32%
Volatility (1Y) Calculated over the trailing 1-year period	63.62%	15.26%	+48.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.95%	18.48%	+55.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	323.68%	21.42%	+302.26%

Dividends

LX vs. FSMD - Dividend Comparison

LX's dividend yield for the trailing twelve months is around 17.44%, more than FSMD's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FSMD Fidelity Small-Mid Multifactor ETF	1.21%	1.33%	1.29%	1.37%	1.54%	1.18%	1.32%	1.37%
LX LexinFintech Holdings Ltd.	17.44%	9.30%	2.38%	11.85%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LX and FSMD in my portfolio?

LX and FSMD have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LX or FSMD?

LX has higher volatility (22.06%) compared to FSMD (4.45%). In terms of maximum drawdown, LX dropped -93.19% vs FSMD's -40.67%.

Which has better risk-adjusted returns?

FSMD currently has the higher Sharpe Ratio (1.69 vs -1.03), 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.