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FMKT vs FESM

The Free Markets ETF vs Fidelity Enhanced Small Cap Core ETF

FMKT

The Free Markets ETF

Free Markets ETF

Annual cost

0.76%

Fund size

$15M

FESM

Fidelity Enhanced Small Cap Core ETF

Fidelity Investments

Annual cost

0.28%

Fund size

$5.0B

Key differences

  • FESM costs 0.48% less per year.
  • FESM is significantly larger than FMKT — larger funds tend to be more liquid and less likely to close.
  • FMKT follows a active selection strategy; FESM uses index enhanced.
  • FESM has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

FMKTFESM
Annual cost (TER)0.76%0.28%
Fund size (AUM)$15M$5.0B
Since20252007
Dividend yield0.55%
Asset classequityequity
Regionnorth americanorth america
Strategyactive selectionindex enhanced
CAGR 1YN/A+52.9%
CAGR 3YN/AN/A
CAGR 5YN/AN/A
Sharpe 3YN/AN/A
Volatility 1Y19.05%
Max drawdown-17.79%-26.93%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

Similar to FMKT and FESM