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
$5.80B
Winner
SPY
$781B
Expense Ratio
FESM
0.28%
Winner
SPY
0.09%
Max Drawdown
Winner
FESM
27.67%
SPY
56.47%
Sharpe Ratio
Winner
FESM
1.96
SPY
1.35
5Y Beta
FESM
1.10
Winner
SPY
1.00
P/E Ratio
FESM
255.70
Winner
SPY
29.13
Forward P/E
Winner
FESM
16.34
SPY
21.48
5Y Dividends CAGR
FESM
N/A
SPY
6.00%
5Y EPS CAGR
FESM
5.48%
Winner
SPY
25.27%
Debt to Equity
FESM
121.24%
Winner
SPY
31.47%
P/S Ratio
Winner
FESM
1.20
SPY
3.87
P/B Ratio
Winner
FESM
2.34
SPY
5.70
FESM vs SPY - Holdings Comparison
FESM and SPY have 5 common holdings. Overlap is 0.23%
FESM's top 25 holdings weight is 19.83%. SPY's top 25 holdings weight is 51.08%.
| Rank | FESM | SPY |
|---|---|---|
| #1 | n/a (n/a) - 3.76% | NVIDIA CORP (NVDA) - 7.50% |
| #2 | FIDELITY CASH CENTRAL FUND (n/a) - 1.84% | APPLE INC (AAPL) - 6.58% |
| #3 | ACM RESEARCH INC CLASS A (ACMR) - 0.71% | MICROSOFT CORP (MSFT) - 4.29% |
| #4 | HEALTHEQUITY INC (HQY) - 0.70% | AMAZON.COM INC (AMZN) - 3.61% |
| #5 | KODIAK GAS SERVICES INC (KGS) - 0.68% | ALPHABET INC CLASS A (GOOGL) - 3.24% |
| #6 | TENABLE HOLDINGS INC (TENB) - 0.67% | BROADCOM INC (AVGO) - 2.77% |
| #7 | ENERSYS (ENS) - 0.67% | ALPHABET INC CLASS C (GOOG) - 2.58% |
| #8 | n/a (PECO) - 0.66% | MICRON TECHNOLOGY INC (MU) - 2.01% |
| #9 | PLEXUS CORP (PLXS) - 0.65% | META PLATFORMS INC CLASS A (META) - 1.91% |
| #10 | EXTREME NETWORKS INC (EXTR) - 0.64% | TESLA INC (TSLA) - 1.83% |
| #11 | KULICKE & SOFFA INDUSTRIES INC (KLIC) - 0.62% | ADVANCED MICRO DEVICES INC (AMD) - 1.47% |
| #12 | OUTFRONT MEDIA INC (OUT) - 0.62% | ELI LILLY AND CO (LLY) - 1.47% |
| #13 | STONEX GROUP INC (SNEX) - 0.62% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.42% |
| #14 | GLACIER BANCORP INC (GBCI) - 0.61% | JPMORGAN CHASE & CO (JPM) - 1.36% |
| #15 | COMMERCIAL METALS CO (CMC) - 0.61% | INTEL CORP (INTC) - 1.02% |
| #16 | WESBANCO INC (WSBC) - 0.61% | JOHNSON & JOHNSON (JNJ) - 0.95% |
| #17 | CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 0.60% | APPLIED MATERIALS INC (AMAT) - 0.89% |
| #18 | OPTION CARE HEALTH INC (OPCH) - 0.60% | VISA INC CLASS A (V) - 0.88% |
| #19 | BALCHEM CORP (BCPC) - 0.58% | EXXON MOBIL CORP (XOM) - 0.88% |
| #20 | ACI WORLDWIDE INC (ACIW) - 0.58% | LAM RESEARCH CORP (LRCX) - 0.84% |
| #21 | EASTERN BANKSHARES INC ORDINARY SHARES (EBC) - 0.57% | WALMART INC (WMT) - 0.77% |
| #22 | GRIFFON CORP (GFF) - 0.57% | CATERPILLAR INC (CAT) - 0.76% |
| #23 | TUTOR PERINI CORP (TPC) - 0.57% | CISCO SYSTEMS INC (CSCO) - 0.72% |
| #24 | ABERCROMBIE & FITCH CO CLASS A (ANF) - 0.55% | ABBVIE INC (ABBV) - 0.69% |
| #25 | COMMVAULT SYSTEMS INC (CVLT) - 0.54% | COSTCO WHOLESALE CORP (COST) - 0.64% |
| Total Holdings | 771 | 502 |
FESM vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
FESM
+3.00%
SPY
+0.31%
3M
Winner
FESM
+15.06%
SPY
+7.26%
6M
Winner
FESM
+18.40%
SPY
+9.12%
1Y
Winner
FESM
+47.34%
SPY
+21.59%
5Y(CAGR)
FESM
N/A
SPY
+13.25%
10Y(CAGR)
FESM
N/A
SPY
+15.11%
Max(CAGR)
Winner
FESM
+28.47%
SPY
+8.51%
FESM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FESM | SPY |
|---|---|---|
| 2026 | +25.52% | +10.47% |
| 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 -1.55%. The current SPY drawdown is -0.91%.
| 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 | -3.30% May 28, 2026 - Jun 11, 2026 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FESM and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.
0.95
-101
Dividend Comparison (1999 - 2026)
FESM vs SPY dividend yield comparison.
| Year | FESM | SPY |
|---|---|---|
| 2026 | 0.43% | 0.49% |
| 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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