FidelityUS Stock StylesFactor#238 of 702 by YTD

Fidelity Small-Mid Multifactor ETFFSMD

S&P 500 Bucket avg Compare

$50.26+2.6%

+$1.27 · Nov 9 close

Buy

AUM: $2.5B
Fee: 0.15%
Yield: 1.3%

Bumpy · 1Y: 1.2×S&P
Volume: 274K
NAV: $50.32

What's insideAll 603 →

P 0.5%THC 0.5%INCY 0.4%GH 0.4%

52-week range6% below the high

$41.86$53.48

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+2.6%	−0.2%	+0.6%	−3.3%	+15.1%	+19.1%	+66.1%	+51.4%	+125.3%
Peer average	+2.5%	−0.3%	−2.6%	−2.6%	+11.6%	+14.4%	+68.5%	+55.9%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

FSMD in One Breath

FSMD Among Factor ETFs

Max

#1MTUMiShares+514.6%$16.8B

#2MMTMSPDR+494.8%$121M

#3PDPInvesco+473.0%$1.3B

#4QUALiShares+444.6%$48.6B

#5USMViShares+436.5%$24.1B

#6SPLVInvesco+349.4%$7.5B

#7BMVPInvesco+328.1%$102M

#8JHMLJohn Hancock+321.6%$1.1B

#37FSMDFidelity+125.3%$2.5B

End-of-day Nov 10, 2026 · 62 Factor ETFs by Max

$10,000 in FSMD

$10,000 in FSMD became

$15,143

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

FSMD’s Top Holdings

Today

PEverpure -A0.5%THC0.5%INCY0.4%GH0.4%EXEL0.4%RVTY0.4%L0.4%RGA0.4%HAS0.4%EWBC0.4%PR0.3%CRL0.3%APA0.3%KIM0.3%DOCU0.3%SWK0.3%MDLN0.3%NBIX0.3%GEN0.3%AIZ0.3%MANH0.3%ITT0.3%

PEverpure -A0.5%THC0.5%INCY0.4%GH0.4%EXEL0.4%RVTY0.4%L0.4%RGA0.4%HAS0.4%EWBC0.4%PR0.3%CRL0.3%

HealthcareTechnologyFinancial ServicesIndustrialsConsumer CyclicalReal EstateOther

Fidelity FSMD · 602 holdings · top 22 shown · tile size = share of the fund · as of Nov 9, 2026

What FSMD Holds

Today

Healthcare7.0%

THC · INCY · GH · EXEL · RVTY · CRL · MDLN

Technology5.2%

P · DOCU · GEN · MANH · GDDY · SNX · NTNX

Financial Services4.7%

L · RGA · EWBC · AIZ · RNR · GL · AFG

Industrials3.2%

SWK · ITT · NDSN · 0Y5C.L · ARMK · NVT · APG

Consumer Cyclical2.4%

HAS · VIK · TOL · RL · FIVE · CCK · TXRH

Real Estate2.3%

KIM · HST · OHI · DOC · LAMR · REG · ELS

Energy2.1%

PR · APA · DINO · NXT · RRC · AR · DTM

Fidelity FSMD · share of the fund by sector · as of Nov 9, 2026

Everpure’s Share of FSMD

Today

0.5%

$5 of every $1,000 in FSMD is Everpure

Everpure held by FSMD

$13.6M

Most Everpure per dollar

SKYY4.0%

YRAM4.0%

AIED3.3%

TLG3.3%

Fidelity FSMD · each square = $10 of $1,000 · as of Nov 9, 2026

FSMD’s Share of Factor ETFs

Today

1.5%

of the $161B in 62 Factor ETFs

FSMD$2.5B1.5%

QUAL$48.6B30.2%

USMV$24.1B15.0%

59 others$86.1B53.3%

Factor ETF AUM · Nov 10, 2026

FSMD Fee per $100 vs Peers

Today

$0.15a year
per $100

$15 a year on $10,000

JQUA$0.12

FSMD$0.15

QUAL$0.15

USMV$0.15

MTUM$0.15

IQLT$0.30

Expense ratio · Factor peers · Nov 10, 2026

Inside FSMD

602 holdings · as of Nov 9, 2026

FSMD

Fidelity Small-Mid Multifactor ETF

Today

Healthcare7.0%THCINCYGH EXELRVTY9 moreTechnology5.2%P DOCUGENLSCCIT Financial Services4.7%L RGAEWBCIndustrials3.2%ARMKNVTRBCCLHConsumer Cyclical2.4%TOLRL FIVECCKReal Estate2.3%Energy2.1%RRCOther70.9%

Healthcare7.0%17 moreTechnology5.2%11 moreFinancial Services4.7%11 moreIndustrials3.2%Other70.9%

#	Ticker	Company	Weight ▼
1	P	Everpure -A	0.54%
2	THC	Tenet Healthcare	0.45%
3	INCY	Incyte	0.38%
4	GH	Guardant Health	0.38%
5	EXEL	Exelixis	0.37%
6	RVTY	Revvity	0.37%
7	L	Loews	0.37%
8	RGA	Reinsurance Group OF America	0.37%
9	HAS	Hasbro	0.36%
10	EWBC	East West Bancorp	0.36%

See all 603 holdings ↓

HealthcareTechnologyFinancial ServicesIndustrialsConsumer CyclicalReal EstateEnergyCommunication ServicesConsumer DefensiveUtilitiesBasic MaterialsOther

Fidelity FSMD · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 7.3%

All FSMD Holdings

603 holdings · as of Nov 9, 2026

FSMD

FSMD’s Holdings

Today

#
1	PEverpure	Technology	0.54%	$54.25	136K	$13.1M
2	THCTenet Healthcare	Healthcare	0.45%	$45.23	39K	$10.9M
3	—Securities Lending CF	—	0.45%	$44.79	10.8M	$10.8M
4	INCYIncyte	Healthcare	0.38%	$38.01	77K	$9.2M
5	GHGuardant Health	Healthcare	0.38%	$37.51	60K	$9.1M
6	EXELExelixis	Healthcare	0.37%	$36.90	128K	$8.9M
7	RVTYRevvity	Healthcare	0.37%	$36.86	58K	$8.9M
8	LLoews	Financial Services	0.37%	$36.69	81K	$8.9M
9	RGAReinsurance Group OF America	Financial Services	0.37%	$36.60	34K	$8.9M
10	HASHasbro	Consumer Cyclical	0.36%	$36.13	74K	$8.7M
11	EWBCEast West Bancorp	Financial Services	0.36%	$35.83	67K	$8.7M
12	PRPermian Resources	Energy	0.35%	$34.92	389K	$8.5M
13	CRLCharles River Labs Intl	Healthcare	0.35%	$34.58	25K	$8.4M
14	APAAPA	Energy	0.34%	$34.40	187K	$8.3M
15	KIMKimco Realty	Real Estate	0.34%	$33.94	322K	$8.2M

Fidelity FSMD · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

FSMD

Fidelity Small-Mid Multifactor ETF’s Peers

YTD


QUAL	iSharesRead Desk	0.15%	+13.5%	+17.0%	$48.6B
USMV	iSharesRead Desk	0.15%	+10.5%	+13.1%	$24.1B
MTUM	iSharesRead Desk	0.15%	+7.3%	+9.1%	$16.8B
IQLT	iSharesRead Desk	0.30%	+13.5%	+18.1%	$13.8B
JQUA	J.P. MorganRead Desk	0.12%	+19.9%	+23.4%	$9.5B
FSMD	FidelityThis fundRead Desk	0.15%	+15.1%	+19.1%	$2.5B

Factor peers · YTD and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put FSMD head to head with QUAL →

QUAL vs FSMD

YTD

QUALiShares · FactorFSMDFidelity · Factor

Year to date

+13.5%

+15.1%

FSMD wins+1.6 pts

Past year

+17.0%

+19.1%

FSMD wins+2.0 pts

Fee

0.15%

Level

Yield

0.8%

1.3%

FSMD wins+0.5 pts

AUM

$48.6B

$2.5B

QUAL19.5× more

3–0FSMD wins

iShares QUAL and Fidelity FSMD · year-to-date · as of Nov 10, 2026 · AUM not scored

FSMD vs VOO

YTD

FSMD · Fidelity Small-Mid Multifactor

+15.1%

VOO · S&P 500

+11.3%

Gap

3.8 pts

Fidelity FSMD and Vanguard VOO · YTD total return · as of Nov 10, 2026

FSMD vs Its Peer Average

YTD

FSMDAvsBPeer average

1D+2.6%+2.5%

1M+0.6%−2.6%

3M−3.3%−2.6%

YTD+15.1%+11.6%

1Y+19.1%+14.4%

3Y+66.1%+68.5%

5Y+51.4%+55.9%

4–3FSMD wins

61 Factor peers · each row scaled to its leader

How Bumpy Is FSMD?

View

FSMD

How Bumpy

1.2×the S&P 500’s swings

CalmerBumpierS&P 1×FSMD

Calm rank among 7 factor funds#6

Other factor funds0.7× to 2.1×

Fidelity FSMD · daily swings over the past year vs the S&P 500

FSMD

Worst Drop

−8.5%from its Feb 26 high

Still below the high−5.5%

$10,000 at the high is now$9,450

Fidelity FSMD · fall from the highest close, past year

FSMD

On a Bad Day

0.9×the S&P 500’s fall

FSMD’s worst day: Thursday, Nov 5

FSMD

−3.8%

S&P 500

−4.4%

Up days52 of every 100

S&P 500 up days52 of every 100

Fidelity FSMD · average move on days the S&P 500 fell

FSMD

Return for the Bumps

1Y#4 of 7 factor funds

#1JQUAJ.P. Morgan

most for the bumps

#2QUALiShares

#3USMViShares

calmest ride

#4FSMDFidelity

#5IQLTiShares

#6SPLVInvesco

#7MTUMiShares

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

FSMD

Cost

Today

$15a year per $10,000

JQUA

$12

QUAL

$15

USMV

$15

MTUM

$15

FSMD

$15

SPLV

$25

IQLT

$30

Expense ratio 0.15%, taken from the fund’s value

FSMD

Volatility & Beta

15.8%annual volatility

S&P 500 volatility13.7%

Downside volatility10.5%

Beta vs SPY0.92

Correlation vs SPY0.80

Beta rank, lowest first, of 7#6

Daily total returns × √252 · past 254 trading days

FSMD

Max Drawdown

−8.5%peak to trough

Peak closeFeb 26, 2026

Current drawdown−5.5%

Worst day−3.81% · Nov 5

Closing prices, dividends in

FSMD

Up / Down Capture

93%down capture vs SPY

Down days

93%

Up days

101%

S&P 500

100%

Up ÷ down capture1.08

Up days52.4% (S&P 52.4%)

Average daily move on SPY up days and down days

FSMD

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
JQUA	1.48	2.19	12.9%	−7.1%	0.86	$12
QUAL	0.98	1.46	12.7%	−9.0%	0.87	$15
USMV	0.95	1.42	9.3%	−6.5%	0.38	$15
FSMD	0.94	1.42	15.8%	−8.5%	0.92	$15
IQLT	0.93	1.42	15.7%	−10.4%	0.89	$30
SPLV	0.77	1.21	11.1%	−9.2%	0.06	$25
MTUM	0.14	0.20	29.3%	−27.3%	1.68	$15

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

FSMD

Trading

Today

−0.12%below its holdings’ value

Close$50.26

NAV$50.32

Fee per $10,000$15 a year

Avg. volume 30D237K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

FSMD

Fund Facts

Today

2019launched Feb 26

Tracks[…]

Exchange · CUSIPAMEX · 316092527

StructureETF

Leverage1x

Cost on $10,000$15 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Fidelity FSMD · fund facts · as of Nov 10, 2026

FSMD

Payouts by Year

$0.18per share, Sep 2026

Distribution yield1.3%

PaidEvery quarter

Latest ex-date · paidSep 18 · Sep 22, 2026

12 payouts added up$1.76 a share

Fidelity FSMD · distributions by ex-date · 2019–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$50.32

Premium / discount[…]

Median spread · 30D[…]

Volume today274K

Average volume · 30D237K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.15%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$15.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Sep 18, 2026	Sep 22, 2026	$0.18
Jun 18, 2026	Jun 23, 2026	$0.17
Mar 20, 2026	Mar 24, 2026	$0.17
Dec 19, 2025	Dec 23, 2025	$0.13
Sep 19, 2025	Sep 23, 2025	$0.17
Jun 20, 2025	Jun 24, 2025	$0.14
Mar 21, 2025	Mar 25, 2025	$0.15
Dec 20, 2024	Dec 24, 2024	$0.13
Sep 20, 2024	Sep 24, 2024	$0.14
Jun 21, 2024	Jun 25, 2024	$0.14
Mar 15, 2024	Mar 20, 2024	$0.13
Dec 15, 2023	Dec 20, 2023	$0.12

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