FESM vs SPY
Comparison between FIDELITY ENHANCED SMALL CAP ETF (FESM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
FESM vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
FESM
$5B
Winner
SPY
$735B
Expense Ratio
FESM
0.28%
Winner
SPY
0.09%
Max Drawdown
Winner
FESM
27.67%
SPY
56.47%
Sharpe Ratio
Winner
FESM
2.05
SPY
1.98
5Y Beta
FESM
1.10
Winner
SPY
1.00
P/E Ratio
FESM
62.61
Winner
SPY
28.99
Forward P/E
Winner
FESM
15.63
SPY
22.43
5Y Dividends CAGR
FESM
N/A
SPY
5.43%
5Y EPS CAGR
FESM
16.29%
Winner
SPY
26.05%
Debt to Equity
FESM
48.75%
Winner
SPY
32.40%
P/S Ratio
Winner
FESM
1.22
SPY
3.74
P/B Ratio
Winner
FESM
2.59
SPY
5.61
FESM vs SPY - Holdings Comparison
FESM and SPY have 5 common holdings. Overlap is 0.24%
FESM's top 25 holdings weight is 23.10%. SPY's top 25 holdings weight is 52.37%.
| Rank | FESM | SPY |
|---|---|---|
| #1 | n/a (n/a) - 3.36% | NVIDIA CORP (NVDA) - 8.10% |
| #2 | BLOOM ENERGY CORP CLASS A (BE) - 2.40% | APPLE INC (AAPL) - 7.02% |
| #3 | CREDO TECHNOLOGY GROUP HOLDING LTD (CRDO) - 1.31% | MICROSOFT CORP (MSFT) - 4.79% |
| #4 | FABRINET (FN) - 1.16% | AMAZON.COM INC (AMZN) - 4.02% |
| #5 | GUARDANT HEALTH INC (GH) - 1.00% | ALPHABET INC CLASS A (GOOGL) - 3.51% |
| #6 | FIDELITY CASH CENTRAL FUND (n/a) - 0.90% | BROADCOM INC (AVGO) - 3.10% |
| #7 | ACM RESEARCH INC CLASS A (ACMR) - 0.81% | ALPHABET INC CLASS C (GOOG) - 2.79% |
| #8 | VICOR CORP (VICR) - 0.80% | META PLATFORMS INC CLASS A (META) - 2.08% |
| #9 | ENERSYS (ENS) - 0.79% | TESLA INC (TSLA) - 1.89% |
| #10 | LUMEN TECHNOLOGIES INC ORDINARY SHARES (LUMN) - 0.77% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | MAXLINEAR INC (MXL) - 0.76% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #12 | COMMERCIAL METALS CO (CMC) - 0.73% | ELI LILLY AND CO (LLY) - 1.31% |
| #13 | STONEX GROUP INC (SNEX) - 0.71% | JPMORGAN CHASE & CO (JPM) - 1.28% |
| #14 | KULICKE & SOFFA INDUSTRIES INC (KLIC) - 0.71% | ADVANCED MICRO DEVICES INC (AMD) - 1.27% |
| #15 | CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 0.69% | EXXON MOBIL CORP (XOM) - 0.97% |
| #16 | HEALTHEQUITY INC (HQY) - 0.65% | INTEL CORP (INTC) - 0.90% |
| #17 | EXTREME NETWORKS INC (EXTR) - 0.65% | JOHNSON & JOHNSON (JNJ) - 0.86% |
| #18 | TENABLE HOLDINGS INC (TENB) - 0.65% | VISA INC CLASS A (V) - 0.85% |
| #19 | OUTFRONT MEDIA INC (OUT) - 0.63% | WALMART INC (WMT) - 0.81% |
| #20 | AXSOME THERAPEUTICS INC (AXSM) - 0.63% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #21 | n/a (PECO) - 0.61% | COSTCO WHOLESALE CORP (COST) - 0.69% |
| #22 | PLEXUS CORP (PLXS) - 0.61% | CATERPILLAR INC (CAT) - 0.66% |
| #23 | VIAVI SOLUTIONS INC (VIAV) - 0.61% | MASTERCARD INC CLASS A (MA) - 0.62% |
| #24 | COEUR MINING INC (CDE) - 0.59% | LAM RESEARCH CORP (LRCX) - 0.62% |
| #25 | URBAN OUTFITTERS INC (URBN) - 0.57% | ABBVIE INC (ABBV) - 0.58% |
| Total Holdings | 706 | 505 |
FESM vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
FESM
+3.58%
Winner
SPY
+5.26%
3M
Winner
FESM
+12.76%
SPY
+10.82%
6M
Winner
FESM
+21.79%
SPY
+12.14%
1Y
Winner
FESM
+49.71%
SPY
+29.45%
5Y(CAGR)
FESM
N/A
SPY
+14.12%
10Y(CAGR)
FESM
N/A
SPY
+15.57%
Max(CAGR)
Winner
FESM
+27.58%
SPY
+8.59%
FESM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FESM | SPY |
|---|---|---|
| 2026 | +19.60% | +11.34% |
| 2025 | +17.52% | +18.00% |
| 2024 | +17.18% | +25.59% |
| 2023 | +12.19% | +26.72% |
| 2022 | N/A | -18.64% |
| 2021 | N/A | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
FESM vs SPY Drawdown Comparison
The maximum drawdown for FESM was -26.93%, occurring on Apr 8, 2025. Recovery took 183 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current FESM drawdown is -0.89%.
| Rank | FESM | SPY |
|---|---|---|
| #1 | -26.93% Dec 2, 2024 - Aug 27, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -10.18% Jan 22, 2026 - Apr 14, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -9.60% Jul 31, 2024 - Sep 19, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -8.39% Mar 28, 2024 - Jul 11, 2024 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -7.57% Oct 27, 2025 - Nov 28, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -6.28% Dec 27, 2023 - Feb 12, 2024 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -5.09% Nov 11, 2024 - Nov 25, 2024 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -4.72% May 6, 2026 - May 26, 2026 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -4.08% Oct 8, 2025 - Oct 15, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -3.63% Feb 12, 2024 - Feb 15, 2024 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -3.59% Feb 15, 2024 - Mar 1, 2024 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -3.59% Dec 11, 2025 - Jan 6, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -3.58% Oct 16, 2024 - Nov 6, 2024 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -3.56% Jul 16, 2024 - Jul 26, 2024 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -3.23% Mar 7, 2024 - Mar 21, 2024 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FESM and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.
0.96
-101
Dividend Comparison (1999 - 2026)
FESM vs SPY dividend yield comparison.
| Year | FESM | SPY |
|---|---|---|
| 2026 | 0.20% | 0.24% |
| 2025 | 0.82% | 1.07% |
| 2024 | 1.08% | 1.21% |
| 2023 | 0.06% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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