FESM vs GSC
Fidelity Enhanced Small Cap Core ETF vs Goldman Sachs Small Cap Equity ETF
Which is better, FESM or GSC?
FESM has been ahead.
FESM has a lower expense ratio. FESM led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. FESM is less concentrated, with 7.1% of the fund in its ten largest positions against 16.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FESM | GSC |
|---|---|---|
| Expense Ratio | 0.28%Best | 0.75% |
| AUM | $6.4B | $286M |
| Dividend Yield | 0.87% | 0.22% |
| Holdings | 875 | 197 |
| YTD Return | +17.52%Best | +10.48% |
| 1Y Return | +21.75%Best | +14.01% |
| 3Y Return (annualized) | +22.94%Best | +14.86% |
| Volatility (annualized) | 19.7% | 18.3%Best |
| Max Drawdown | -26.9%Best | -27.0% |
| $10,000 over 2.9 years | $18,202Best | $14,582 |
| Top 10 Weight | 7.1%Best | 16.3% |
| Fund Family | Fidelity Investments (US) | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Nov 20, 2023 | Oct 3, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 14, 2026 (2.9 years).
FESM vs GSC growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
FESM vs GSC Performance
Fidelity Enhanced Small Cap Core ETF (FESM) is an ETF from Fidelity Investments (US) and Goldman Sachs Small Cap Equity ETF (GSC) is an ETF from Goldman Sachs Asset Management. Over the past year FESM returned +21.75% while GSC returned +14.01%. Year to date, FESM is up 17.52% versus a gain of 10.48% for GSC.
Over three years, FESM compounded at +22.94% per year against +14.86% for GSC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FESM has been the more volatile fund, with annualized monthly volatility of 19.7% compared with 18.3% for GSC. 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 -26.9% for FESM and -27.0% for GSC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FESM charges 0.28% per year while GSC charges 0.75%. On a $10,000 position that is $28 vs $75 annually, a gap of $47 per year that compounds over a long holding period. On income, FESM currently yields 0.87% against 0.22% for GSC.
Holdings Overlap
9.7% of FESM's money is in holdings GSC also owns. 50.4% of GSC's money is in holdings FESM also owns.
The two portfolios partly overlap.
46 positions in common, counted across the 883 positions we hold weights for in FESM and 98 in GSC, against full books of 875 and 197.
What only one of them owns
Our book lists 49 positions for GSC that do not appear in our book for FESM (48.0% of the fund), and 677 for FESM that do not appear in GSC (87.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FESM | Weight in GSC | Difference |
|---|---|---|---|
| GKOSGlaukos Corp Common Stock Usd 0.001 | 0.70% | 1.77% | 1.07% |
| LTHLife Time Inc | 0.50% | 1.71% | 1.21% |
| SKWDSkyward Specialty Insurance Group Inc | 0.44% | 1.51% | 1.07% |
| WSBCWesbanco, Inc. | 0.51% | 1.43% | 0.92% |
| CMCCommercial Metals Co | 0.74% | 1.20% | 0.46% |
| GFFGriffon Corp. | 0.62% | 1.25% | 0.63% |
| GBCIGlacier Bancorp Inc | 0.42% | 1.44% | 1.02% |
| NMIHNmi Holdings Inc. | 0.32% | 1.49% | 1.17% |
| ALKS:IEAlkermes Plc. Ordinary Shares | 0.27% | 1.49% | 1.22% |
| VLYValley National Bancorp | 0.05% | 1.53% | 1.48% |
50.4% of GSC is already inside FESM.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FESM or GSC?
FESM has an expense ratio of 0.28% while GSC charges 0.75%. FESM is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, FESM or GSC?
Over the past year FESM returned +21.75% vs +14.01% for GSC, so FESM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FESM or GSC?
FESM has been the more volatile fund at 19.7% annualized versus 18.3% for GSC. Worst drawdown: FESM -26.9% vs GSC -27.0%.
Should I hold both FESM and GSC?
FESM and GSC have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FESM and GSC?
50.4% of GSC's money is in holdings FESM also owns. 50.4% of GSC's is in holdings FESM also owns. They hold 46 positions in common, counted across the 883 positions we hold weights for in FESM and 98 in GSC.
Which pays a higher dividend, FESM or GSC?
FESM yields 0.87% while GSC yields 0.22%, so FESM currently pays the higher dividend yield.
Is GSC better than FESM?
FESM has a lower expense ratio. FESM led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. FESM is less concentrated, with 7.1% of the fund in its ten largest positions against 16.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.