FSMD vs VYM
Fidelity Small-Mid Multifactor ETF vs Vanguard High Dividend Yield ETF
Which is better, FSMD or VYM?
Mid Cap Growth against Large Cap Value.
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. FSMD is less concentrated, with 4.3% of the fund in its ten largest positions against 25.8%.
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 | FSMD | VYM |
|---|---|---|
| Expense Ratio | 0.15% | 0.04%Best |
| AUM | $2.5B | $78.9B |
| Dividend Yield | 1.32% | 2.37% |
| Holdings | 1,792 | 608 |
| YTD Return | +12.20%Best | +11.83% |
| 1Y Return | +15.03% | +15.96%Best |
| 3Y Return (annualized) | +17.17% | +18.60%Best |
| 5Y Return (annualized) | +8.88% | +11.51%Best |
| Volatility (annualized) | 18.9% | 15.2%Best |
| Max Drawdown | -40.9% | -35.7%Best |
| $10,000 over 5 years | $15,302 | $17,241Best |
| Top 10 Weight | 4.3%Best | 25.8% |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Value |
| Inception | Feb 26, 2019 | Nov 10, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Feb 28, 2019 to Oct 14, 2026 (7.6 years).
FSMD vs VYM 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 7.6 years both funds cover.
FSMD vs VYM Performance
Fidelity Small-Mid Multifactor ETF (FSMD) is an ETF from Fidelity Investments (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year FSMD returned +15.03% while VYM returned +15.96%. Year to date, FSMD is up 12.20% versus a gain of 11.83% for VYM.
Over three years, FSMD compounded at +17.17% per year against +18.60% for VYM; over five years the annualized figures are +8.88% and +11.51% respectively. Across the full 8-year window we track, VYM has the edge at +10.79% annualized vs +10.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSMD has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.2% for VYM. 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 -35.7% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 VYM charges 0.04%. On a $10,000 position that is $15 vs $4 annually, a gap of $11 per year that compounds over a long holding period. On income, FSMD currently yields 1.32% against 2.37% for VYM.
Holdings Overlap
29.1% of FSMD's money is in holdings VYM also owns. 4.6% of VYM's money is in holdings FSMD also owns.
FSMD and VYM share little of their money.
165 positions in common, counted across the 597 positions we hold weights for in FSMD and 602 in VYM, against full books of 1,792 and 608.
What only one of them owns
Our book lists 408 positions for VYM that do not appear in our book for FSMD (93.3% of the fund), and 420 for FSMD that do not appear in VYM (68.7%).
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 FSMD | Weight in VYM | Difference |
|---|---|---|---|
| DINOHf Sinclair Corporation | 0.37% | 0.06% | 0.31% |
| EWBCEast West Bancorp, Inc. | 0.34% | 0.07% | 0.27% |
| PRCentennial Resource Development Inc/de | 0.34% | 0.07% | 0.27% |
| RGAReinsurance Group Of America Inc | 0.34% | 0.06% | 0.28% |
| AIZAssurant, Inc. | 0.28% | 0.06% | 0.22% |
| SJMJm Smucker Co/The | 0.28% | 0.06% | 0.22% |
| UNMUnum Group | 0.28% | 0.06% | 0.22% |
| RLRalph Lauren Corp | 0.29% | 0.05% | 0.24% |
| SWKStanley Black & Decker Inc. | 0.26% | 0.06% | 0.20% |
| SWKSSkyworks Solutions Inccommon Stock | 0.28% | 0.04% | 0.24% |
29.1% of FSMD is already inside VYM.
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, FSMD or VYM?
FSMD has an expense ratio of 0.15% while VYM charges 0.04%. VYM is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, FSMD or VYM?
Over the past year FSMD returned +15.03% vs +15.96% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (8 years), FSMD annualized +10.56% vs +10.79% for VYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSMD or VYM?
FSMD has been the more volatile fund at 18.9% annualized versus 15.2% for VYM. Worst drawdown: FSMD -40.9% vs VYM -35.7%.
Should I hold both FSMD and VYM?
FSMD and VYM have a monthly-return correlation of 0.91, 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 FSMD and VYM?
29.1% of FSMD's money is in holdings VYM also owns. 4.6% of VYM's is in holdings FSMD also owns. They hold 165 positions in common, counted across the 597 positions we hold weights for in FSMD and 602 in VYM.
Which pays a higher dividend, FSMD or VYM?
FSMD yields 1.32% while VYM yields 2.37%, so VYM currently pays the higher dividend yield.
Is VYM better than FSMD?
VYM has a lower expense ratio. VYM led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. FSMD is less concentrated, with 4.3% of the fund in its ten largest positions against 25.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.