FSMD vs VTI
Fidelity Small-Mid Multifactor ETF vs Vanguard Total Stock Market ETF
Quick Verdict
VTI has a lower expense ratio. FSMD delivered stronger 1-year returns. VTI offers more diversification with 2783 holdings.
Side-by-Side Comparison
| Metric | FSMD | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $2.6B | $663.5B | |
| Dividend Yield | 1.20% | 1.07% | |
| Holdings | 601 | 3,543 | |
| YTD Return | +19.10% | +14.22% | |
| 1Y Return | +24.92% | +22.19% | |
| 3Y Return (annualized) | +17.24% | +21.27% | |
| 5Y Return (annualized) | +10.46% | +12.23% | |
| Volatility (annualized) | 19.1% | 15.3% | |
| Max Drawdown | -40.9% | -56.6% | |
| Fund Family | Fidelity Investments (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Feb 26, 2019 | May 24, 2001 |
FSMD vs VTI Performance
Fidelity Small-Mid Multifactor ETF (FSMD) is a ETF from Fidelity Investments (US) and Vanguard Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year FSMD returned +24.92% while VTI returned +22.19%. Year to date, FSMD is up 19.10% versus a gain of 14.22% for VTI.
Over three years, FSMD compounded at +17.24% per year against +21.27% for VTI; over five years the annualized figures are +10.46% and +12.23% respectively. Across the full 8-year window we track, FSMD has the edge at +11.70% annualized vs +8.14%. 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 15.3% for VTI. 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 -56.6% for VTI. 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSMD charges 0.15% per year while VTI 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 1.07% for VTI.
Holdings Overlap
FSMD and VTI share 411 holdings out of 2945 unique holdings combined, representing a 3.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FSMD or VTI?
FSMD has an expense ratio of 0.15% while VTI charges 0.03%. VTI is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, FSMD or VTI?
Over the past year FSMD returned +24.92% vs +22.19% for VTI, so FSMD leads on 1-year performance. Over the longest common window we track (8 years), FSMD annualized +11.70% vs +8.14% for VTI. Past performance does not guarantee future results.
Which is riskier, FSMD or VTI?
FSMD has been the more volatile fund at 19.1% annualized versus 15.3% for VTI. Worst drawdown: FSMD -40.9% vs VTI -56.6%.
Should I hold both FSMD and VTI?
FSMD and VTI have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FSMD and VTI?
FSMD and VTI share 411 common holdings with a 3.6% weight overlap. Combined, they hold 2945 unique securities.
Which pays a higher dividend, FSMD or VTI?
FSMD yields 1.20% while VTI yields 1.07%, so FSMD currently pays the higher dividend yield.
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