FSMD vs VOO
Fidelity Small-Mid Multifactor ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. FSMD delivered stronger 1-year returns. FSMD offers more diversification with 573 holdings.
Side-by-Side Comparison
| Metric | FSMD | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $2.6B | $979.0B | |
| Dividend Yield | 1.20% | 1.09% | |
| Holdings | 601 | 509 | |
| YTD Return | +17.83% | +13.79% | |
| 1Y Return | +26.13% | +23.01% | |
| 3Y Return (annualized) | +16.82% | +21.78% | |
| 5Y Return (annualized) | +10.38% | +13.39% | |
| Volatility (annualized) | 19.1% | 14.1% | |
| Max Drawdown | -40.9% | -34.3% | |
| Fund Family | Fidelity Investments (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 26, 2019 | Sep 7, 2010 |
FSMD vs VOO Performance
Fidelity Small-Mid Multifactor ETF (FSMD) is a ETF from Fidelity Investments (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year FSMD returned +26.13% while VOO returned +23.01%. Year to date, FSMD is up 17.83% versus a gain of 13.79% for VOO.
Over three years, FSMD compounded at +16.82% per year against +21.78% for VOO; over five years the annualized figures are +10.38% and +13.39% respectively. Across the full 7-year window we track, VOO has the edge at +13.57% annualized vs +11.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSMD has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 14.1% for VOO. 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 -40.9% for FSMD and -34.3% for VOO. 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FSMD charges 0.15% per year while VOO charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, FSMD currently yields 1.20% against 1.09% for VOO.
Holdings Overlap
FSMD and VOO share 36 holdings out of 1042 unique holdings combined, representing a 1.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FSMD or VOO?
FSMD has an expense ratio of 0.15% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, FSMD or VOO?
Over the past year FSMD returned +26.13% vs +23.01% for VOO, so FSMD leads on 1-year performance. Over the longest common window we track (7 years), FSMD annualized +11.55% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, FSMD or VOO?
FSMD has been the more volatile fund at 19.1% annualized versus 14.1% for VOO. Worst drawdown: FSMD -40.9% vs VOO -34.3%.
Should I hold both FSMD and VOO?
FSMD and VOO have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FSMD and VOO?
FSMD and VOO share 36 common holdings with a 1.7% weight overlap. Combined, they hold 1042 unique securities.
Which pays a higher dividend, FSMD or VOO?
FSMD yields 1.20% while VOO yields 1.09%, so FSMD currently pays the higher dividend yield.
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