SKOR vs. FSMD
SKOR (FlexShares Credit-Scored US Corporate Bond Index Fund) and FSMD (Fidelity Small-Mid Multifactor ETF) are both exchange-traded funds - SKOR is a Corporate Bonds fund tracking the NorthernTrustUS Corporate Bond Quality Value Index, while FSMD is a Small Cap Growth Equities fund tracking the Fidelity Small-Mid Multifactor Index. Both are passively managed. Over the past 5 years, SKOR returned 1.74%/yr vs 10.00%/yr for FSMD. At a 0.22 correlation, their price movements are largely independent. SKOR charges 0.22%/yr vs 0.29%/yr for FSMD.
Performance
SKOR vs. FSMD - Performance Comparison
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Returns By Period
In the year-to-date period, SKOR achieves a 0.54% return, which is significantly lower than FSMD's 17.58% return.
SKOR
- 1D
- -0.05%
- 1M
- 0.37%
- YTD
- 0.54%
- 6M
- 1.02%
- 1Y
- 5.20%
- 3Y*
- 6.13%
- 5Y*
- 1.74%
- 10Y*
- 2.88%
FSMD
- 1D
- 1.00%
- 1M
- 4.34%
- YTD
- 17.58%
- 6M
- 15.58%
- 1Y
- 29.65%
- 3Y*
- 17.46%
- 5Y*
- 10.00%
- 10Y*
- —
SKOR vs. FSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 0.54% | 7.99% | 4.42% | 7.64% | -9.88% | -1.40% | 8.84% | 7.96% |
FSMD Fidelity Small-Mid Multifactor ETF | 17.58% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
Correlation
The correlation between SKOR and FSMD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2019 | 0.22 |
Over the past year, SKOR and FSMD have become more correlated (0.44) than their long-term average of 0.22, meaning their price movements have been converging.
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Return for Risk
SKOR vs. FSMD — Risk / Return Rank
SKOR
FSMD
SKOR vs. FSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) 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.
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.
| SKOR | FSMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.30 | -0.92 |
| Martin ratioReturn relative to average drawdown | 8.31 | 11.89 | -3.58 |
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Drawdowns
SKOR vs. FSMD - Drawdown Comparison
The maximum SKOR drawdown since its inception was -15.98%, smaller than the maximum FSMD drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for SKOR and FSMD.
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Drawdown Indicators
| SKOR | FSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.98% | -40.67% | +24.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -8.44% | +6.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.11% | -22.16% | +19.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.13% | -22.16% | +7.03% |
Max Drawdown (10Y)Largest decline over 10 years | -15.98% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | 0.00% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -5.98% | +3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 2.34% | -1.74% |
Volatility
SKOR vs. FSMD - Volatility Comparison
The current volatility for FlexShares Credit-Scored US Corporate Bond Index Fund (SKOR) is 0.94%, while Fidelity Small-Mid Multifactor ETF (FSMD) has a volatility of 5.14%. This indicates that SKOR experiences smaller price fluctuations and is considered to be less risky than FSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKOR | FSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 5.14% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 11.85% | -9.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 15.69% | -12.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 18.55% | -14.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 21.43% | -16.53% |
SKOR vs. FSMD - Expense Ratio Comparison
SKOR has a 0.22% expense ratio, which is lower than FSMD's 0.29% expense ratio.
Dividends
SKOR vs. FSMD - Dividend Comparison
SKOR's dividend yield for the trailing twelve months is around 4.66%, more than FSMD's 1.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMD Fidelity Small-Mid Multifactor ETF | 1.18% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% |
SKOR FlexShares Credit-Scored US Corporate Bond Index Fund | 4.66% | 4.70% | 4.90% | 3.90% | 2.57% | 2.55% | 3.38% | 3.53% | 2.85% | 2.46% | 2.74% | 2.25% |
Frequently Asked Questions
SKOR and FSMD have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMD has higher volatility (5.14%) compared to SKOR (0.94%). In terms of maximum drawdown, SKOR dropped -15.98% vs FSMD's -40.67%.
On 5-year performance, FSMD leads with 10.00% vs 1.74% for SKOR. On fees, SKOR is cheaper at 0.22% per year. On volatility, SKOR has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FSMD has performed better with a 10.00% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKOR is cheaper with a 0.22% expense ratio, compared with 0.29% for FSMD.
SKOR has the higher dividend yield at 4.66%, compared with 1.18% for FSMD.
SKOR is categorized as Corporate Bonds, while FSMD is Small Cap Growth Equities. SKOR tracks NorthernTrustUS Corporate Bond Quality Value Index, while FSMD tracks Fidelity Small-Mid Multifactor Index. They also come from different issuers: Northern Trust and Fidelity. Their fees differ too: 0.22% for SKOR and 0.29% for FSMD.
SKOR currently has the higher Sharpe Ratio (1.84 vs 1.78), 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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