FESM vs RUSC
Fidelity Enhanced Small Cap Core ETF vs Russell Investments US Small Cap Equity ETF
Which is better, FESM or RUSC?
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. RUSC is less concentrated, with 5.2% of the fund in its ten largest positions against 7.1%.
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 | RUSC |
|---|---|---|
| Expense Ratio | 0.28%Best | 0.64% |
| AUM | $6.4B | $81M |
| Dividend Yield | 0.87% | 0.33% |
| Holdings | 875 | 491 |
| YTD Return | +17.52%Best | +13.09% |
| 1Y Return | +21.75%Best | +17.59% |
| 3Y Return (annualized) | +22.94% | - |
| Volatility (annualized) | 16.7% | 15.3%Best |
| Max Drawdown | -10.2% | -9.8%Best |
| $10,000 over 1.4 years | $14,614Best | $13,328 |
| Top 10 Weight | 7.1% | 5.2%Best |
| Fund Family | Fidelity Investments (US) | Russell Investments |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Nov 20, 2023 | May 13, 2025 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 14, 2025 to Oct 14, 2026 (1.4 years).
FESM vs RUSC 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 1.4 years both funds cover.
FESM vs RUSC Performance
Fidelity Enhanced Small Cap Core ETF (FESM) is an ETF from Fidelity Investments (US) and Russell Investments US Small Cap Equity ETF (RUSC) is an ETF from Russell Investments. Over the past year FESM returned +21.75% while RUSC returned +17.59%. Year to date, FESM is up 17.52% versus a gain of 13.09% for RUSC.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FESM has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 15.3% for RUSC. 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 -10.2% for FESM and -9.8% for RUSC. 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 RUSC charges 0.64%. On a $10,000 position that is $28 vs $64 annually, a gap of $36 per year that compounds over a long holding period. On income, FESM currently yields 0.87% against 0.33% for RUSC.
Holdings Overlap
27.6% of FESM's money is in holdings RUSC also owns. 41.6% of RUSC's money is in holdings FESM also owns.
The two portfolios partly overlap.
182 positions in common, counted across the 883 positions we hold weights for in FESM and 489 in RUSC, against full books of 875 and 491.
What only one of them owns
Our book lists 202 positions for RUSC that do not appear in our book for FESM (37.3% of the fund), and 563 for FESM that do not appear in RUSC (69.7%).
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 RUSC | Difference |
|---|---|---|---|
| OSCROscar Health, Inc. | 0.74% | 0.35% | 0.39% |
| KLICKulicke & Soffa Industries | 0.75% | 0.23% | 0.52% |
| FLRFluor Corp | 0.62% | 0.28% | 0.34% |
| HQYHealthequity Inc | 0.62% | 0.28% | 0.34% |
| CECOCeco Environmental Corp Common Stock Usd 0.01 | 0.60% | 0.29% | 0.31% |
| SNEXStonex Group Inc | 0.52% | 0.34% | 0.18% |
| KGSKodiak Gas Services Inccommon Stock | 0.61% | 0.24% | 0.37% |
| OPCHOption Care Health Inc | 0.64% | 0.18% | 0.46% |
| ACMRAcm Research Inc | 0.55% | 0.26% | 0.29% |
| TWSTTwist Bioscience Corp. | 0.50% | 0.30% | 0.20% |
41.6% of RUSC 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 RUSC?
FESM has an expense ratio of 0.28% while RUSC charges 0.64%. FESM is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, FESM or RUSC?
Over the past year FESM returned +21.75% vs +17.59% for RUSC, so FESM leads on 1-year performance. Over the longest common window we track (1 years), FESM annualized +31.13% vs +22.78% for RUSC. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FESM or RUSC?
FESM has been the more volatile fund at 16.7% annualized versus 15.3% for RUSC. Worst drawdown: FESM -10.2% vs RUSC -9.8%.
Should I hold both FESM and RUSC?
FESM and RUSC 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.
What is the holdings overlap between FESM and RUSC?
41.6% of RUSC's money is in holdings FESM also owns. 41.6% of RUSC's is in holdings FESM also owns. They hold 182 positions in common, counted across the 883 positions we hold weights for in FESM and 489 in RUSC.
Which pays a higher dividend, FESM or RUSC?
FESM yields 0.87% while RUSC yields 0.33%, so FESM currently pays the higher dividend yield.
Is RUSC 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. RUSC is less concentrated, with 5.2% of the fund in its ten largest positions against 7.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.