FSMD vs SPY
Comparison between FIDELITY SMALL-MID MULTIFACTOR ETF (FSMD, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed FSMD, delivering a return of +13.3% compared to +9.3%
FSMD vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
FSMD
$2.10B
Winner
SPY
$652B
Expense Ratio
FSMD
0.15%
Winner
SPY
0.09%
Max Drawdown
Winner
FSMD
40.93%
SPY
56.47%
Sharpe Ratio
FSMD
1.48
Winner
SPY
2.07
5Y Beta
Winner
FSMD
0.94
SPY
1.00
P/E Ratio
Winner
FSMD
20.10
SPY
28.24
Forward P/E
Winner
FSMD
15.45
SPY
21.85
5Y Dividends CAGR
Winner
FSMD
10.63%
SPY
5.43%
5Y EPS CAGR
FSMD
16.39%
Winner
SPY
25.79%
Debt to Equity
FSMD
N/A
SPY
22.35%
P/S Ratio
Winner
FSMD
1.59
SPY
3.55
P/B Ratio
Winner
FSMD
2.53
SPY
5.29
FSMD vs SPY - Holdings Comparison
FSMD and SPY have 33 common holdings. Overlap is 1.01%
FSMD's top 25 holdings weight is 14.32%. SPY's top 25 holdings weight is 51.32%.
| Rank | FSMD | SPY |
|---|---|---|
| #1 | SANDISK CORP ORDINARY SHARES (SNDK) - 1.99% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | CIENA CORP (CIEN) - 1.01% | APPLE INC (AAPL) - 6.48% |
| #3 | COMFORT SYSTEMS USA INC (FIX) - 0.90% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | LUMENTUM HOLDINGS INC (LITE) - 0.86% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | n/a (n/a) - 0.83% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | COHERENT CORP (COHR) - 0.73% | BROADCOM INC (AVGO) - 3.09% |
| #7 | ANGLOGOLD ASHANTI PLC (AU) - 0.60% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | EMCOR GROUP INC (EME) - 0.59% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | TECHNIPFMC PLC (FTI) - 0.52% | TESLA INC (TSLA) - 1.73% |
| #10 | FLEX LTD (FLEX) - 0.52% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | CASEY'S GENERAL STORES INC (CASY) - 0.51% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | TAPESTRY INC (TPR) - 0.49% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | REVOLUTION MEDICINES INC ORDINARY SHARES (RVMD) - 0.47% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | UNITED THERAPEUTICS CORP (UTHR) - 0.42% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | CURTISS-WRIGHT CORP (CW) - 0.41% | WALMART INC (WMT) - 0.91% |
| #16 | FABRINET (FN) - 0.40% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | MASTEC INC (MTZ) - 0.39% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | NVENT ELECTRIC PLC (NVT) - 0.36% | VISA INC CLASS A (V) - 0.85% |
| #19 | EVERPURE INC CLASS A (P) - 0.36% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | CARPENTER TECHNOLOGY CORP (CRS) - 0.36% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | SIMPSON MANUFACTURING CO INC (SSD) - 0.32% | INTEL CORP (INTC) - 0.65% |
| #22 | ESSENTIAL PROPERTIES REALTY TRUST INC (EPRT) - 0.32% | NETFLIX INC (NFLX) - 0.64% |
| #23 | SABRA HEALTH CARE REIT INC (SBRA) - 0.32% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | ENERSYS (ENS) - 0.32% | CHEVRON CORP (CVX) - 0.58% |
| #25 | TRI POINTE HOMES INC (TPH) - 0.32% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 550 | 505 |
FSMD vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
FSMD
+6.19%
Winner
SPY
+9.11%
3M
FSMD
+6.00%
Winner
SPY
+6.59%
6M
Winner
FSMD
+16.39%
SPY
+10.56%
1Y
FSMD
+27.73%
Winner
SPY
+32.04%
5Y(CAGR)
FSMD
+9.26%
Winner
SPY
+13.35%
10Y(CAGR)
FSMD
N/A
SPY
+15.49%
Max(CAGR)
Winner
FSMD
+11.75%
SPY
+8.50%
FSMD vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FSMD | SPY |
|---|---|---|
| 2026 | +12.67% | +8.27% |
| 2025 | +8.92% | +18.00% |
| 2024 | +15.63% | +25.59% |
| 2023 | +17.73% | +26.72% |
| 2022 | -11.54% | -18.64% |
| 2021 | +27.63% | +30.52% |
| 2020 | +8.61% | +17.28% |
| 2019 | +8.81% | +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% |
FSMD vs SPY Drawdown Comparison
The maximum drawdown for FSMD was -40.66%, occurring on Mar 23, 2020. Recovery took 194 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current FSMD drawdown is -0.58%.
| Rank | FSMD | SPY |
|---|---|---|
| #1 | -40.66% Feb 19, 2020 - Nov 23, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -22.16% Nov 25, 2024 - Sep 11, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -20.63% Nov 16, 2021 - Dec 14, 2023 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -8.43% Feb 26, 2026 - Apr 13, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -7.33% May 3, 2019 - Jul 24, 2019 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -7.32% Jul 31, 2024 - Aug 30, 2024 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -7.15% Mar 28, 2024 - May 15, 2024 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -6.03% Jul 26, 2019 - Oct 28, 2019 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -5.92% Sep 18, 2025 - Dec 10, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.53% Jun 11, 2021 - Aug 11, 2021 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -5.44% Mar 15, 2021 - Apr 14, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.01% Sep 2, 2021 - Oct 20, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.72% Aug 30, 2024 - Sep 19, 2024 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.70% May 7, 2021 - Jun 8, 2021 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.49% Feb 24, 2021 - Mar 10, 2021 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FSMD and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (1999 - 2026)
FSMD vs SPY dividend yield comparison.
| Year | FSMD | SPY |
|---|---|---|
| 2026 | 0.34% | 0.24% |
| 2025 | 1.33% | 1.07% |
| 2024 | 1.29% | 1.21% |
| 2023 | 1.37% | 1.40% |
| 2022 | 1.54% | 1.65% |
| 2021 | 1.18% | 1.20% |
| 2020 | 1.32% | 1.52% |
| 2019 | 1.37% | 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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