FESM vs NSCS
Fidelity Enhanced Small Cap Core ETF vs Nuveen Small Cap Select ETF
Which is better, FESM or NSCS?
Nearly the same fund. FESM costs less.
FESM has a lower expense ratio. FESM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98.
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 | NSCS |
|---|---|---|
| Expense Ratio | 0.28%Best | 0.86% |
| AUM | $6.4B | $7M |
| Dividend Yield | 0.87% | 0.31% |
| Holdings | 875 | 82 |
| Volatility (annualized) | 21.9% | 20.3%Best |
| Max Drawdown | -26.9%Best | -28.2% |
| $10,000 over 1.6 years | $12,645Best | $12,124 |
| Fund Family | Fidelity Investments (US) | Nuveen |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Nov 20, 2023 | Aug 4, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 478 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. FESM has data through Oct 14, 2026 and NSCS through Jun 23, 2025.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Nov 20, 2023 to Jun 23, 2025 (1.6 years).
Risk: Volatility and Drawdowns
FESM has been the more volatile fund, with annualized monthly volatility of 21.9% compared with 20.3% for NSCS. 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 -28.2% for NSCS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. 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 NSCS charges 0.86%. On a $10,000 position that is $28 vs $86 annually, a gap of $58 per year that compounds over a long holding period. On income, FESM currently yields 0.87% against 0.31% for NSCS.
You are not choosing between two funds in isolation.
Whichever of FESM and NSCS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FESM or NSCS?
FESM has an expense ratio of 0.28% while NSCS charges 0.86%. FESM is the cheaper option, by $58 a year on a $10,000 investment.
Which is riskier, FESM or NSCS?
FESM has been the more volatile fund at 21.9% annualized versus 20.3% for NSCS. Worst drawdown: FESM -26.9% vs NSCS -28.2%.
Should I hold both FESM and NSCS?
FESM and NSCS have a monthly-return correlation of 0.98, 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.
Which pays a higher dividend, FESM or NSCS?
FESM yields 0.87% while NSCS yields 0.31%, so FESM currently pays the higher dividend yield.
Is NSCS better than FESM?
FESM has a lower expense ratio. FESM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.