Fidelity Small-Mid Multifactor ETF
FSMD

$41.07

0.96%

Market Cap: $481M

0

Funds holding %

of 6,710 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

375% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 4

175% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 8

88% more capital invested

Capital invested by funds: $113M [Q1] → $213M (+$99.7M) [Q2]

38% more funds holding

Funds holding: 39 [Q1] → 54 (+15) [Q2]

9.12% more ownership

Funds ownership: 53.78% [Q1] → 62.9% (+9.12%) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for FSMD.

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Financial journalist opinion

Considering Multifactor Strategies When Investing in U.S. Equities

Several potential risks loom over markets in the second half, particularly within the U.S. For investors looking to dampen volatility, invest in quality, or seek returns through value or momentum strategies, the Fidelity Multifactor ETF suite may be worth consideration. Recession concerns rose once again in August and signs of economic slowing in the U.S.

Considering Multifactor Strategies When Investing in U.S. Equities

What You Don't Know About These Vanguard And Fidelity ETFs Can Hurt Your Alpha

Vanguard offers factor-based ETFs that have shown outstanding performance compared to unmanaged, index-based comparison ETFs. Factor-based ETFs have now become mainstream investments, with a market share of over 20% globally. Assets under management for factor-based investments have grown significantly, leading many investors to include factor funds in their portfolios.

What You Don't Know About These Vanguard And Fidelity ETFs Can Hurt Your Alpha

An Advisor's Guide to Fidelity's Multifactor ETF Suite

Factor investing allows for targeted equity exposure for those seeking specific investment outcomes. For example, factors may be used to enhance a portfolio's risk and return profile or help generate income.

An Advisor's Guide to Fidelity's Multifactor ETF Suite

FSMD: Nicely Balanced Multifactor Approach, Yet Incapable Of Outcompeting The Market

Passively managed FSMD applies a multifactor approach to small- and mid-cap stocks. The factors amalgamated are value, quality, low volatility, and momentum. The current iteration of the FSMD portfolio features chiefly mid-cap stocks with healthy value characteristics. Industrials and financials are the top sectors. Quality is mostly adequate, yet there are weaknesses on the capital efficiency front.

FSMD: Nicely Balanced Multifactor Approach, Yet Incapable Of Outcompeting The Market

FSMD: It Works For SMMD

Fidelity Small-Mid Multifactor ETF offers a twist on market-cap weighted indexing with a multifactor, rules-based approach. The FSMD fund is well-diversified with nearly 600 holdings and attractive valuations. FSMD's emphasis on small- and mid-cap companies and its quality and momentum screens make it a potential outperformer with lower risk.

FSMD: It Works For SMMD

FSMD: Strategic Beta Beats Market-Cap-Weighted, But It's Not Perfect

The Fidelity Small-Mid Multifactor ETF is a strategic beta ETF that focuses on investing in small- and mid-cap U.S. companies. FSMD has outperformed passive SMID-cap indices over the last three years by focusing on factors like valuation, quality, momentum, and low volatility. The fund's highly diversified nature and exposure to regional banks pose risks that could limit its potential for outperformance.

FSMD: Strategic Beta Beats Market-Cap-Weighted, But It's Not Perfect

Eye This Fidelity ETF Duo During Potential Rate Cuts

Despite 2023 producing some of the fastest rate hikes in decades, market participants are now actively discussing rate “cuts” in 2024. While the Fed continues to signal that they intend to hold firm until inflation comes down even more, potential rate cuts remain a significant possibility.

Eye This Fidelity ETF Duo During Potential Rate Cuts

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