ATLASFidelity Enhanced Small Cap ETF (FESM): outlook, holdings and fees
Fidelity Enhanced Small Cap ETF (FESM) is an exchange-traded fund and is managed by Fidelity Investments. The expense ratio is 0.26% and the yield is 0.88%. The ten largest holdings are 7% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on FESM
| Last price | $45.85 (+0.8%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 55% |
| Likely 1-month range (50%) | $44.80 – $47.38 |
| Normal 1-day range (±1σ) | ±1.0% |
| Distribution yield | 0.88% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
FESM fund facts
| Issuer | Fidelity Investments |
|---|---|
| Theme | US small caps |
| Assets under management | $6.6B |
| Expense ratio | 0.26% |
| Number of holdings | 48 |
| Portfolio turnover | 0% |
| Inception | Dec 20, 2007 |
| Exchange | NYSE |
The fund will normally invest at least 80% of assets in common stocks included in the Russell 2000® Index, which is a market capitalization-weighted index designed to measure the performance of the small-cap segment of the U.S. equity market. The adviser will generally utilizing a research-driven approach identifying long-term drivers of stock returns that may include,but are not limited to, valuation, growth, quality, and other factors.
FESM top holdings
| Holding | Sector | Weight |
|---|---|---|
| Option Care Health Inc OPCH | Healthcare | 0.85% |
| Oscar Health Inc OSCR | Healthcare | 0.78% |
| Commercial Metals Company CMC | Industrials | 0.72% |
| Plexus Corp PLXS | Technology | 0.75% |
| Glaukos Corp GKOS | Healthcare | 0.71% |
| Kulicke and Soffa Industries Inc KLIC | Technology | 0.67% |
| Outfront Media Inc OUT | Real Estate | 0.69% |
| Enersys ENS | Industrials | 0.66% |
| HealthEquity Inc HQY | Healthcare | 0.66% |
| Fluor Corporation FLR | Industrials | 0.61% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
FESM sector breakdown
| Sector | Weight |
|---|---|
| Healthcare | 21.5% |
| Technology | 18.9% |
| Financial Services | 16.8% |
| Industrials | 13.5% |
| Consumer Cyclicals | 9.1% |
| Energy | 6.0% |
| Real Estate | 4.2% |
| Basic Materials | 4.1% |
| Communication Services | 3.0% |
| Utilities | 1.6% |
| Consumer Defensive | 1.3% |
By region: North America 99.1%, Latin America 0.8%, Asia Developed 0.1%.
FESM returns and risk
| Year to date | +21.5% |
|---|---|
| 1 year | +25.7% |
| 3 years (annualised) | +25.2% |
| 5 years (annualised) | +10.7% |
| 10 years (annualised) | +11.6% |
| Volatility (3 years) | 20.0% |
| Sharpe ratio (3 years) | 0.95 |
Past returns do not guarantee future results.
FESM: frequently asked questions
What does FESM invest in?
Fidelity Enhanced Small Cap ETF invests in a portfolio of securities. Its largest holdings are Option Care Health Inc (0.9%), Oscar Health Inc (0.8%), Commercial Metals Company (0.7%), Plexus Corp (0.7%), Glaukos Corp (0.7%).
What is the FESM expense ratio?
0.26% a year: about $26.00 for every $10,000 invested.
What is the FESM dividend yield?
0.88%. ATLAS does not hold the exact distribution dates for ETFs.
Will FESM go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 55%, with a likely range (50%) of $44.80 to $47.38 from $45.85 today. It is a probability, not a prediction.
How has FESM performed?
Year to date +21.5%, one year +25.7%, three years +25.2% a year, five years +10.7% a year. Past returns do not guarantee future results.
Similar ETFs: US small caps
Educational information, not investment advice. Disclaimer