FFSM vs IVV
Fidelity Fundamental Small-Mid Cap ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. FFSM delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FFSM | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.03% | |
| AUM | $1.5B | $907.0B | |
| Dividend Yield | 0.44% | 1.10% | |
| Holdings | 210 | 508 | |
| YTD Return | +19.13% | +12.76% | |
| 1Y Return | +28.59% | +20.14% | |
| 3Y Return (annualized) | +20.11% | +21.69% | |
| 5Y Return (annualized) | +10.19% | +13.00% | |
| Volatility (annualized) | 18.8% | 15.1% | |
| Max Drawdown | -26.6% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Feb 2, 2021 | May 15, 2000 |
FFSM vs IVV Performance
Fidelity Fundamental Small-Mid Cap ETF (FFSM) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FFSM returned +28.59% while IVV returned +20.14%. Year to date, FFSM is up 19.13% versus a gain of 12.76% for IVV.
Over three years, FFSM compounded at +20.11% per year against +21.69% for IVV; over five years the annualized figures are +10.19% and +13.00% respectively. Across the full 6-year window we track, FFSM has the edge at +11.88% annualized vs +6.99%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FFSM has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.6% for FFSM and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FFSM charges 0.43% per year while IVV charges 0.03%. On a $10,000 position that is $43 vs $3 annually, a gap of $40 per year that compounds over a long holding period. On income, FFSM currently yields 0.44% against 1.10% for IVV.
Holdings Overlap
FFSM and IVV share 21 holdings out of 703 unique holdings combined, representing a 1.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FFSM or IVV?
FFSM has an expense ratio of 0.43% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $40 per year of difference.
Which performed better, FFSM or IVV?
Over the past year FFSM returned +28.59% vs +20.14% for IVV, so FFSM leads on 1-year performance. Over the longest common window we track (6 years), FFSM annualized +11.88% vs +6.99% for IVV. Past performance does not guarantee future results.
Which is riskier, FFSM or IVV?
FFSM has been the more volatile fund at 18.8% annualized versus 15.1% for IVV. Worst drawdown: FFSM -26.6% vs IVV -56.5%.
Should I hold both FFSM and IVV?
FFSM and IVV have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FFSM and IVV?
FFSM and IVV share 21 common holdings with a 1.6% weight overlap. Combined, they hold 703 unique securities.
Which pays a higher dividend, FFSM or IVV?
FFSM yields 0.44% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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