Fidelity Enhanced Small Cap ETF (FESM) is a multi-factor ETF. As of October 9, 2026, ETF Copilot scores FESM 4.9 out of 10 — highest on Return (8.1), lowest on Quality (0.6). It trades at 17.8 times earnings, against its own median of 18.0. Its ten largest holdings are 10% of the fund.
What stands out in FESM's data
U.S. small-cap stocks, picked by an active multi-factor model.
Delivers stronger risk-adjusted returns than most small-cap peers — smoother progress for the same ride.
A 3-year Sharpe ratio of 0.83, paired with EBITDA margin of 15.0%.
An active small-cap sleeve that has recently earned its keep.
How is FESM rated? ETF Copilot scores Fidelity Enhanced Small Cap ETF (FESM) 4.9 out of 10
As of October 9, 2026, ETF Copilot scores Fidelity Enhanced Small Cap ETF (FESM) 4.9 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 4.9 / 10
- Growth: 4.5 / 10
- Value: 6.6 / 10
- Risk: 3.6 / 10
- Quality: 0.6 / 10
- Return: 8.1 / 10
Is FESM expensive right now? It trades at 17.8 times earnings, against its own median of 18.0
As of October 9, 2026, FESM is cheaper than 56% of its own 36 monthly readings since 2023 — 16 of those months were cheaper than today.
Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.
What's inside FESM? 19% Tech
What's inside FESM: Size (Large 0%, Mid 27%, Small 73%); Geography (International 4%, US 96%); Tech 18.7%; AI 0.5%; Semiconductors 3.2%; Memory 1.0%.
What are FESM's top holdings? The ten largest are 10% of the fund
Option Care Health, Oscar Health, Plexus, Commercial Metals, Glaukos, Kulicke & Soffa Industries, Maxlinear, Enersys, Outfront Media and Healthequity are FESM's largest holdings, in that order.
Less concentrated than 78% of Multi-factor ETFs.
Half of FESM's weight sits in its 113 largest positions, and once those weights are taken into account it behaves like 262 equally weighted holdings.
What is FESM's expense ratio? 0.28% a year
As of October 9, 2026, FESM charges 0.28% a year, yields 0.84% and holds $6.5B in assets across 752 positions.
| Measure | FESM |
|---|---|
| Expense ratio | 0.28% |
| Dividend yield | 0.84% |
| Assets under management | $6.5B |
| Holdings | 752 |
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.
Cite this
ETF Copilot, “Fidelity Enhanced Small Cap ETF (FESM) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/fesm
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