FESM vs SMLF: holdings overlap, shared companies and scores
As of September 11, 2026, FESM and SMLF overlap 18.8% by weight. Fidelity Enhanced Small Cap ETF (FESM): U.S. small-cap stocks iShares U.S. Small-Cap Equity Factor ETF (SMLF): U.S. small-cap factor stocks.
Updated September 11, 2026
How much do FESM and SMLF overlap?
As of September 11, 2026, FESM and SMLF overlap 18.8% by weight.
53% of FESM is already inside SMLF.
23% of SMLF is already inside FESM.
FESM holds 757 companies and SMLF holds 891; 290 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 SMLF?
As of September 11, 2026, ETF Copilot scores FESM 6.0 out of 10 and SMLF 4.8 out of 10.
They differ most on Valuation: FESM 7.1 and SMLF 4.0.
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 | SMLF |
|---|---|---|
| Growth | 6.3 | 6.3 |
| Valuation | 7.1 | 4.0 |
| Risk | 6.1 | 4.0 |
| Quality | 0.9 | 2.4 |
| Return | 8.5 | 6.0 |
SMLF is the cheaper of the two at 0.15% a year
As of September 11, 2026, FESM charges 0.28% a year, yields 1.16% and holds $6.5B in assets across 757 positions.
As of September 11, 2026, SMLF charges 0.15% a year, yields 1.22% and holds $4.3B in assets across 891 positions.
| Measure | FESM | SMLF |
|---|---|---|
| Expense ratio | 0.28% | 0.15% |
| Dividend yield | 1.16% | 1.22% |
| Assets under management | $6.5B | $4.3B |
| Holdings | 757 | 891 |
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 SMLF trade against their own history
FESM trades at 18.1 times earnings, against its own median of 17.9, and is more expensive than 63% of its own 35 monthly readings since 2023.
SMLF trades at 18.5 times earnings, against its own median of 16.1, and is more expensive than 75% of its own 114 monthly readings since 2017.
What moved FESM and SMLF this week
FESM fell 1.9% in the week to September 11, 2026. The holdings that moved it most were Navan (−24.1%), Installed Building Products (−14.1%) and Tenable (−12.7%); Maxlinear (+25.4%) pushed the other way.
SMLF fell 2.1% in the week to September 11, 2026. The holdings that moved it most were Casey S General Stores (−18.8%), Servicetitan (−41.3%) and UiPath (−24.5%); Semtech (+23.5%) pushed the other way.
What do FESM and SMLF each hold?
What's inside FESM: Tech 18%, Semiconductors 3%.
8% of FESM is its ten largest holdings.
What's inside SMLF: Tech 19%, Semiconductors 4%.
8% of SMLF is its ten largest holdings.
Compare with similar funds
Cite this
ETF Copilot, “FESM vs SMLF holdings overlap and scores”, as of September 11, 2026.
https://etf-copilot.com/compare/fesm-vs-smlf
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