STXK vs. FESM

Last updated Aug 2, 2026

STXK (Strive Small-Cap ETF) and FESM (Fidelity Enhanced Small Cap Core ETF) are both Small Cap Blend Equities funds. STXK is passively managed, while FESM is actively managed. Over the past year, STXK returned 27.10% vs 46.60% for FESM. Their correlation of 0.94 means they have usually moved in the same direction. STXK charges 0.18%/yr vs 0.28%/yr for FESM.

Performance

STXK vs. FESM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strive Small-Cap ETF (STXK) and Fidelity Enhanced Small Cap Core ETF (FESM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STXK achieves a 15.13% return, which is significantly lower than FESM's 24.03% return.

STXK

• 1D: -0.24%
• 1M: -0.80%
• 6M: 10.00%
• YTD: 15.13%
• 1Y: 27.10%
• 3Y*: 12.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.05%

FESM

• 1D: -0.43%
• 1M: -2.02%
• 6M: 18.15%
• YTD: 24.03%
• 1Y: 46.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FESM Fidelity Enhanced Small Cap Core ETF	$38.81M	$44.32M	$35.07M
STXK Strive Small-Cap ETF	$402.92K	$277.57K	$260.64K

STXK vs. FESM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
STXK Strive Small-Cap ETF	15.13%	7.82%	9.47%	13.79%
FESM Fidelity Enhanced Small Cap Core ETF	24.03%	17.88%	16.22%	12.09%

Correlation

The correlation between STXK and FESM is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.94

The correlation between STXK and FESM has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

STXK vs. FESM - Sectors Allocation Comparison

Sectors	STXK	FESM
Technology	17.3%	17.0%
Financial Services	15.8%	16.6%
Industrials	15.0%	11.7%
Healthcare	13.8%	18.9%
Consumer Cyclical	13.4%	8.9%
Real Estate	7.2%	4.1%
Energy	5.6%	4.7%
Basic Materials	4.2%	5.1%
Utilities	2.9%	1.9%
Consumer Defensive	2.7%	1.5%
Communication Services	2.1%	2.5%

Return for Risk

STXK vs. FESM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

STXK

STXK Risk / Return Rank: 68
STXK Sharpe Ratio Rank: 65
STXK Sortino Ratio Rank: 69
STXK Omega Ratio Rank: 61
STXK Calmar Ratio Rank: 73
STXK Martin Ratio Rank: 73

FESM

FESM Risk / Return Rank: 90
FESM Sharpe Ratio Rank: 91
FESM Sortino Ratio Rank: 90
FESM Omega Ratio Rank: 86
FESM Calmar Ratio Rank: 92
FESM Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

STXK vs. FESM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strive Small-Cap ETF (STXK) and Fidelity Enhanced Small Cap Core 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.

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.

	STXK	FESM	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.28	-0.76
Sortino ratio: Return per unit of downside risk	2.27	3.13	-0.86
Omega ratio: Gain probability vs. loss probability	1.26	1.38	-0.11
Calmar ratio: Return relative to maximum drawdown	2.57	4.31	-1.73
Martin ratio: Return relative to average drawdown	9.05	15.24	-6.19

STXK vs. FESM - Sharpe Ratio Comparison

The current STXK Sharpe Ratio is 1.51, which is lower than the FESM Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of STXK and FESM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

STXK vs. FESM - Drawdown Comparison

The maximum STXK drawdown since its inception was -27.12%, roughly equal to the maximum FESM drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for STXK and FESM.

Drawdown Indicators

	STXK	FESM	Difference
Max Drawdown Largest peak-to-trough decline	-27.12%	-26.93%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-10.18%	+0.37%
Max Drawdown (3Y) Largest decline over 3 years	-27.12%	—	—
Current Drawdown Current decline from peak	-1.84%	-3.44%	+1.60%
Average Drawdown Average peak-to-trough decline	-5.41%	-4.59%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.87%	-0.09%

Volatility

STXK vs. FESM - Volatility Comparison

The current volatility for Strive Small-Cap ETF (STXK) is 3.53%, while Fidelity Enhanced Small Cap Core ETF (FESM) has a volatility of 4.03%. This indicates that STXK 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.

Volatility by Period

	STXK	FESM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	4.03%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	14.07%	-2.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	19.30%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.91%	21.06%	-1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	21.06%	-1.15%

STXK vs. FESM - Expense Ratio Comparison

STXK has a 0.18% expense ratio, which is lower than FESM's 0.28% expense ratio.

Dividends

STXK vs. FESM - Dividend Comparison

STXK's dividend yield for the trailing twelve months is around 1.15%, more than FESM's 0.73% yield.

Position	TTM	2025	2024	2023	2022
FESM Fidelity Enhanced Small Cap Core ETF	0.73%	0.82%	1.08%	0.06%	0.00%
STXK Strive Small-Cap ETF	1.15%	1.29%	1.64%	1.14%	0.31%

Frequently Asked Questions

Can I hold both STXK and FESM in my portfolio?

With a correlation of 0.93, STXK and FESM 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 is riskier, STXK or FESM?

FESM has higher volatility (4.03%) compared to STXK (3.53%). In terms of maximum drawdown, STXK dropped -27.12% vs FESM's -26.93%.

Which ETF is better, STXK or FESM?

On 1-year performance, FESM leads with 46.60% vs 27.10% for STXK. On fees, STXK is cheaper at 0.18% per year. On volatility, STXK has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STXK or FESM?

Over the 1-year period, FESM has performed better with a 46.60% return vs 27.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STXK or FESM?

STXK is cheaper with a 0.18% expense ratio, compared with 0.28% for FESM.

Which ETF pays a higher dividend yield, STXK or FESM?

STXK has the higher dividend yield at 1.15%, compared with 0.73% for FESM.

What is the main difference between STXK and FESM?

They also come from different issuers: Strive and Fidelity. Their fees differ too: 0.18% for STXK and 0.28% for FESM.

Which has better risk-adjusted returns?

FESM currently has the higher Sharpe Ratio (2.28 vs 1.51), 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.