FSMD
Fidelity Small-Mid Multifactor ETF
SMB
Adj. R2
0.955
Rel. Sharpe
0.972
Mkt beta
0.94
AUM
US$2.3B
MER
0.15%
Valuation
111
ETF comparison
Verified factor-similar pair
FSMD vs NUSC
These two ETFs meet the same FF6 US comparison criteria: US-listed equity ETFs, the same USD model basis, at least one material non-market factor, and 100% overlap in statistically significant material factor exposure.
SMB
Similarity score
84
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- FSMD has the higher backtested relative Sharpe (0.972 vs 0.789).
- FSMD has the lower published fee (0.15% vs 0.31%).
- FSMD is cheaper on dividend valuation (111 vs 303, where 100 is each fund's historical median).
- NUSC has the stronger regression fit (adjusted R-squared 0.971 vs 0.955).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
NUSC
Nuveen ESG Small-Cap ETF
SMB
Adj. R2
0.971
Rel. Sharpe
0.789
Mkt beta
1.00
AUM
US$1.3B
MER
0.31%
Valuation
303
Factor Exposure Match
Blue bars compare raw factor beta magnitude. Green bars compare absolute t-stat strength. Dim bars indicate the t-stat is below 1.96.
SMB
diff -0.18
HML
diff +0.10
RMW
diff +0.16
CMA
diff -0.04
UMD
diff +0.07
Why This Pair Matches
Exposure level
82
Exposure shape
97
Mkt beta diff
0.06
Rel. Sharpe diff
0.183
This comparison focuses on measured factor exposure. It does not compare holdings methodology, turnover, tax handling, or issuer process. Backtested relative Sharpe is a secondary signal rather than a stand-alone forecast. See methodology.
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