FSMD vs BALT

Comparison between FIDELITY SMALL-MID MULTIFACTOR ETF (FSMD, ETF) and Innovator Defined Wealth Shield ETF (BALT, ETF).

5-Year PerformanceFSMD has outperformed BALT, delivering a return of +9.3% compared to +5.9%

FSMD vs BALT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FSMD(ETF)	BALT(ETF)
Net Assets	$2.10B	$2.20B
Expense Ratio	0.15%	0.69%
Max Drawdown	40.93%	4.89%
Sharpe Ratio	1.48	1.74
5Y Beta	0.94	0.21
P/E Ratio	20.10	N/A
Forward P/E	15.45	N/A
5Y Dividends CAGR	10.63%	N/A
5Y EPS CAGR	16.39%	N/A
P/S Ratio	1.59	N/A
P/B Ratio	2.53	N/A

Net Assets

FSMD

$2.10B

Winner

BALT

$2.20B

Expense Ratio

Winner

FSMD

0.15%

BALT

0.69%

Max Drawdown

FSMD

40.93%

Winner

BALT

4.89%

Sharpe Ratio

FSMD

1.48

Winner

BALT

1.74

5Y Beta

FSMD

0.94

Winner

BALT

0.21

P/E Ratio

FSMD

20.10

BALT

N/A

Forward P/E

FSMD

15.45

BALT

N/A

5Y Dividends CAGR

FSMD

10.63%

BALT

N/A

5Y EPS CAGR

FSMD

16.39%

BALT

N/A

P/S Ratio

FSMD

1.59

BALT

N/A

P/B Ratio

FSMD

2.53

BALT

N/A

FSMD vs BALT - Historical Returns

Returns include dividend reinvestment.

Period	FSMD	BALT
1 month	+6.19%	+0.89%
3 months	+6.00%	+0.70%
6 months	+16.39%	+3.17%
1 year	+27.73%	+7.68%
5 years(CAGR)	+9.26%	+5.92%
Max(CAGR)	+11.75%	+5.92%

Winner

FSMD

+6.19%

BALT

+0.89%

Winner

FSMD

+6.00%

BALT

+0.70%

Winner

FSMD

+16.39%

BALT

+3.17%

Winner

FSMD

+27.73%

BALT

+7.68%

5Y(CAGR)

Winner

FSMD

+9.26%

BALT

+5.92%

Max(CAGR)

Winner

FSMD

+11.75%

BALT

+5.92%

FSMD vs BALT - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

Year	FSMD	BALT
2026	+12.67%	+1.37%
2025	+8.92%	+6.57%
2024	+15.63%	+10.32%
2023	+17.73%	+7.61%
2022	-11.54%	+2.48%
2021	+27.63%	+0.82%
2020	+8.61%	N/A
2019	+8.81%	N/A

FSMD vs BALT Drawdown Comparison

The maximum drawdown for FSMD was -40.66%, occurring on Mar 23, 2020. Recovery took 194 trading sessions.

The maximum drawdown for BALT was -4.89%, occurring on Apr 8, 2025. Recovery took 71 trading sessions.

The current FSMD drawdown is -0.58%. The current BALT drawdown is -0.06%.

Rank	FSMD	BALT
#1	-40.66% Feb 19, 2020 - Nov 23, 2020	-4.89% Feb 20, 2025 - Jun 3, 2025
#2	-22.16% Nov 25, 2024 - Sep 11, 2025	-2.16% Jan 4, 2022 - Jul 8, 2022
#3	-20.63% Nov 16, 2021 - Dec 14, 2023	-1.98% Aug 25, 2022 - Nov 10, 2022
#4	-8.43% Feb 26, 2026 - Apr 13, 2026	-1.85% Jul 16, 2024 - Aug 19, 2024
#5	-7.33% May 3, 2019 - Jul 24, 2019	-1.84% Sep 14, 2023 - Nov 14, 2023
#6	-7.32% Jul 31, 2024 - Aug 30, 2024	-1.15% Feb 25, 2026 - Apr 14, 2026
#7	-7.15% Mar 28, 2024 - May 15, 2024	-1.14% Aug 30, 2024 - Sep 13, 2024
#8	-6.03% Jul 26, 2019 - Oct 28, 2019	-1.03% Mar 28, 2024 - May 9, 2024
#9	-5.92% Sep 18, 2025 - Dec 10, 2025	-0.85% Jul 31, 2023 - Aug 30, 2023
#10	-5.53% Jun 11, 2021 - Aug 11, 2021	-0.85% Nov 11, 2025 - Nov 25, 2025
#11	-5.44% Mar 15, 2021 - Apr 14, 2021	-0.76% Dec 16, 2024 - Dec 24, 2024
#12	-5.01% Sep 2, 2021 - Oct 20, 2021	-0.76% Mar 6, 2023 - Mar 21, 2023
#13	-4.72% Aug 30, 2024 - Sep 19, 2024	-0.62% Dec 11, 2025 - Dec 22, 2025
#14	-4.70% May 7, 2021 - Jun 8, 2021	-0.58% Sep 27, 2021 - Oct 19, 2021
#15	-4.49% Feb 24, 2021 - Mar 10, 2021	-0.55% Oct 8, 2025 - Oct 20, 2025