FESM vs FMDE: holdings overlap, shared companies and scores
As of September 14, 2026, FESM and FMDE overlap 4.0% by weight. Fidelity Enhanced Small Cap ETF (FESM): U.S. small-cap stocks Fidelity Enhanced Mid Cap ETF (FMDE): U.S. mid-cap stocks.
Updated September 14, 2026
How much do FESM and FMDE overlap?
As of September 14, 2026, FESM and FMDE overlap 4.0% by weight.
11% of FESM is already inside FMDE.
5% of FMDE is already inside FESM.
FESM holds 757 companies and FMDE holds 417; 36 are in both.
Computed by ETF Copilot from both funds' holdings rather than quoted from a data provider, and rebuilt nightly.
How does ETF Copilot score FESM and FMDE?
As of September 14, 2026, ETF Copilot scores FESM 6.1 out of 10 and FMDE 6.0 out of 10.
They differ most on Risk: FESM 6.1 and FMDE 9.0.
The five factor scores behind them are set out below, 0–10 and higher is better, ranked against every US equity ETF we track.
| Factor | FESM | FMDE |
|---|---|---|
| Growth | 6.4 | 4.3 |
| Valuation | 7.3 | 8.6 |
| Risk | 6.1 | 9.0 |
| Quality | 0.9 | 3.4 |
| Return | 8.5 | 5.8 |
FMDE is the cheaper of the two at 0.23% a year
As of September 14, 2026, FESM charges 0.28% a year, yields 1.16% and holds $6.5B in assets across 757 positions.
As of September 14, 2026, FMDE charges 0.23% a year, yields 1.44% and holds $8.2B in assets across 417 positions.
| Measure | FESM | FMDE |
|---|---|---|
| Expense ratio | 0.28% | 0.23% |
| Dividend yield | 1.16% | 1.44% |
| Assets under management | $6.5B | $8.2B |
| Holdings | 757 | 417 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Where FESM and FMDE trade against their own history
FESM trades at 17.9 times earnings, against its own median of 17.9, and is more expensive than 54% of its own 35 monthly readings since 2023.
FMDE trades at 19.4 times earnings, against its own median of 20.5, and is cheaper than 83% of its own 35 monthly readings since 2023.
What moved FESM and FMDE this week
FESM fell 2.6% in the week to September 14, 2026. The holdings that moved it most were Installed Building Products (−16.0%), Navan (−23.1%) and Kodiak GAS Services (−9.5%); Fastly (+20.7%) pushed the other way.
FMDE fell 2.1% in the week to September 14, 2026. The holdings that moved it most were Casey S General Stores (−17.8%), Technipfmc (−8.7%) and Ford Motor (−5.2%); Cloudflare (+18.4%) pushed the other way.
What do FESM and FMDE each hold?
What's inside FESM: Tech 18%, Semiconductors 3%.
8% of FESM is its ten largest holdings.
What's inside FMDE: Tech 22%, AI 3%.
9% of FMDE is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “FESM vs FMDE holdings overlap and scores”, as of September 14, 2026.
https://etf-copilot.com/compare/fesm-vs-fmde
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