SPSM vs. FESM
Compare and contrast key facts about SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and Fidelity Enhanced Small Cap ETF (FESM).
SPSM and FESM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. FESM is an actively managed fund by Fidelity. It was launched on Dec 20, 2007.
Performance
SPSM vs. FESM - Performance Comparison
Loading graphics...
SPSM vs. FESM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 3.48% | 6.11% | 8.55% | 12.45% |
FESM Fidelity Enhanced Small Cap ETF | 0.82% | 17.88% | 16.22% | 12.19% |
Returns By Period
In the year-to-date period, SPSM achieves a 3.48% return, which is significantly higher than FESM's 0.82% return.
SPSM
- 1D
- 2.81%
- 1M
- -4.07%
- YTD
- 3.48%
- 6M
- 5.20%
- 1Y
- 20.56%
- 3Y*
- 10.51%
- 5Y*
- 4.16%
- 10Y*
- 10.05%
FESM
- 1D
- 3.29%
- 1M
- -4.77%
- YTD
- 0.82%
- 6M
- 4.42%
- 1Y
- 29.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SPSM vs. FESM - Expense Ratio Comparison
SPSM has a 0.05% expense ratio, which is lower than FESM's 0.28% expense ratio.
Return for Risk
SPSM vs. FESM — Risk / Return Rank
SPSM
FESM
SPSM vs. FESM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) and Fidelity Enhanced Small Cap ETF (FESM). 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.
| SPSM | FESM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 1.30 | -0.38 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.87 | -0.45 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.24 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.42 | 2.19 | -0.77 |
Martin ratioReturn relative to average drawdown | 5.73 | 8.40 | -2.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| SPSM | FESM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 1.30 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.96 | -0.55 |
Correlation
The correlation between SPSM and FESM 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
SPSM vs. FESM - Dividend Comparison
SPSM's dividend yield for the trailing twelve months is around 1.59%, more than FESM's 0.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.59% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
FESM Fidelity Enhanced Small Cap ETF | 0.63% | 0.82% | 1.08% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPSM vs. FESM - Drawdown Comparison
The maximum SPSM drawdown since its inception was -42.89%, which is greater than FESM's maximum drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for SPSM and FESM.
Loading graphics...
Drawdown Indicators
| SPSM | FESM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.89% | -26.93% | -15.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -13.54% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -27.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.89% | — | — |
Current DrawdownCurrent decline from peak | -5.81% | -7.23% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -5.04% | -2.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 3.53% | +0.14% |
Volatility
SPSM vs. FESM - Volatility Comparison
The current volatility for SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is 6.26%, while Fidelity Enhanced Small Cap ETF (FESM) has a volatility of 7.40%. This indicates that SPSM experiences smaller price fluctuations and is considered to be less risky than FESM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| SPSM | FESM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 7.40% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 14.26% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.56% | 22.98% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 21.49% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.98% | 21.49% | +1.49% |