FSMD vs ETY

Comparison between FIDELITY SMALL-MID MULTIFACTOR ETF (FSMD, ETF) and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY, ETF).

5-Year PerformanceFSMD has outperformed ETY, delivering a return of +10.7% compared to +8.7%

FSMD vs ETY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FSMD(ETF)	ETY(ETF)
Net Assets	$2.50B	$2.50B
Expense Ratio	0.15%	N/A
Max Drawdown	40.93%	64.57%
Sharpe Ratio	1.18	-0.20
5Y Beta	0.94	0.92
P/E Ratio	21.43	N/A
Forward P/E	15.90	N/A
5Y Dividends CAGR	10.17%	4.98%
5Y EPS CAGR	15.98%	N/A
Debt to Equity	0.61%	N/A
P/S Ratio	1.66	N/A
P/B Ratio	2.76	N/A

Net Assets

FSMD

$2.50B

ETY

$2.50B

Expense Ratio

FSMD

0.15%

ETY

N/A

Max Drawdown

Winner

FSMD

40.93%

ETY

64.57%

Sharpe Ratio

Winner

FSMD

1.18

ETY

-0.20

5Y Beta

FSMD

0.94

Winner

ETY

0.92

P/E Ratio

FSMD

21.43

ETY

N/A

Forward P/E

FSMD

15.90

ETY

N/A

5Y Dividends CAGR

Winner

FSMD

10.17%

ETY

4.98%

5Y EPS CAGR

FSMD

15.98%

ETY

N/A

Debt to Equity

FSMD

0.61%

ETY

N/A

P/S Ratio

FSMD

1.66

ETY

N/A

P/B Ratio

FSMD

2.76

ETY

N/A

FSMD vs ETY - Historical Returns

Returns include dividend reinvestment.

Period	FSMD	ETY
1 month	+1.36%	+1.03%
3 months	+5.62%	-0.97%
6 months	+10.23%	+0.40%
1 year	+23.46%	+0.07%
5 years(CAGR)	+10.67%	+8.69%
10 years(CAGR)	N/A	+11.90%
Max(CAGR)	+11.94%	+8.50%

Winner

FSMD

+1.36%

ETY

+1.03%

Winner

FSMD

+5.62%

ETY

-0.97%

Winner

FSMD

+10.23%

ETY

+0.40%

Winner

FSMD

+23.46%

ETY

+0.07%

5Y(CAGR)

Winner

FSMD

+10.67%

ETY

+8.69%

10Y(CAGR)

FSMD

N/A

ETY

+11.90%

Max(CAGR)

Winner

FSMD

+11.94%

ETY

+8.50%

FSMD vs ETY - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	FSMD	ETY
2026	+17.81%	-0.67%
2025	+8.92%	+11.01%
2024	+15.63%	+35.10%
2023	+17.73%	+21.52%
2022	-11.54%	-20.72%
2021	+27.63%	+34.82%
2020	+8.61%	+6.29%
2019	+8.81%	+31.23%
2018	N/A	-10.18%
2017	N/A	+29.36%
2016	N/A	+4.62%
2015	N/A	+9.12%
2014	N/A	+12.87%
2013	N/A	+25.11%
2012	N/A	+16.30%
2011	N/A	-13.08%
2010	N/A	-2.81%
2009	N/A	+36.46%
2008	N/A	-25.83%
2007	N/A	-8.21%
2006	N/A	+0.25%

FSMD vs ETY Drawdown Comparison

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

The maximum drawdown for ETY was -52.91%, occurring on Nov 20, 2008. Recovery took 1419 trading sessions.

The current FSMD drawdown is -2.49%. The current ETY drawdown is -3.23%.

Rank	FSMD	ETY
#1	-40.66% Feb 19, 2020 - Nov 23, 2020	-52.91% Jun 1, 2007 - Jan 18, 2013
#2	-22.16% Nov 25, 2024 - Sep 11, 2025	-42.40% Feb 12, 2020 - Nov 17, 2020
#3	-20.63% Nov 16, 2021 - Dec 14, 2023	-24.43% Sep 13, 2018 - Jun 20, 2019
#4	-8.43% Feb 26, 2026 - Apr 13, 2026	-24.03% Dec 31, 2021 - Feb 5, 2024
#5	-7.33% May 3, 2019 - Jul 24, 2019	-21.28% Feb 19, 2025 - Jun 25, 2025
#6	-7.32% Jul 31, 2024 - Aug 30, 2024	-14.39% Sep 22, 2025 - Mar 30, 2026
#7	-7.15% Mar 28, 2024 - May 15, 2024	-13.90% Nov 3, 2015 - Aug 5, 2016
#8	-6.03% Jul 26, 2019 - Oct 28, 2019	-12.52% Sep 3, 2014 - Nov 5, 2014
#9	-5.92% Sep 18, 2025 - Dec 10, 2025	-11.93% Jul 20, 2015 - Nov 3, 2015
#10	-5.53% Jun 11, 2021 - Aug 11, 2021	-8.97% Jan 26, 2018 - May 8, 2018
#11	-5.44% Mar 15, 2021 - Apr 14, 2021	-8.63% Sep 8, 2016 - Jan 26, 2017
#12	-5.35% Jun 30, 2026 - Aug 14, 2026	-8.09% May 21, 2013 - Jul 15, 2013
#13	-5.01% Sep 2, 2021 - Oct 20, 2021	-7.21% Jul 10, 2024 - Aug 30, 2024
#14	-4.72% Aug 30, 2024 - Sep 19, 2024	-6.77% Nov 28, 2014 - Feb 27, 2015
#15	-4.70% May 7, 2021 - Jun 8, 2021	-6.17% Jan 22, 2014 - Feb 18, 2014

Correlation

Correlation between FSMD and ETY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.

0.97

-101

Dividend Comparison (2007 - 2026)

FSMD vs ETY dividend yield comparison.

Year	FSMD	ETY
2026	0.65%	5.52%
2025	1.33%	7.76%
2024	1.29%	7.59%
2023	1.37%	7.92%
2022	1.54%	10.04%
2021	1.18%	7.01%
2020	1.32%	8.26%
2019	1.37%	8.08%
2018	0.00%	9.92%
2017	0.00%	8.30%
2016	0.00%	9.77%
2015	0.00%	9.03%
2014	0.00%	9.06%
2013	0.00%	9.26%
2012	0.00%	11.19%
2011	0.00%	13.06%
2010	0.00%	14.35%
2009	0.00%	14.09%
2008	0.00%	17.11%
2007	0.00%	11.13%