FFSM ETF — Fidelity Fundamental Small-Mid Cap ETF

Fidelity Fundamental Small-Mid Cap ETF (FFSM)

Updated October 16, 2026.

FFSM is an ETF. its distribution rate is 0.56%, its trailing-12-month yield is 0.49%, its expense ratio is 0.44%. Dividend Vision Distribution Safety Score™ is 86/100 (Safe). Total return is 69.4% over the past 5.7 years, 44.0 points behind SPY at 113.4%.

Fidelity Fundamental Small-Mid Cap ETF is an actively managed ETF that invests at least eighty percent of its assets in small and mid-cap companies, both domestic and foreign, with market capitalizations similar to those in the Russell 2500 Index; the fund is non-diversified and does not publicly disclose its complete holdings daily. The ETF has a low current distribution rate and distributes quarterly. This fund may appeal to investors seeking exposure to small and mid-cap equities through active management, though the limited daily transparency regarding holdings is a structural feature to note.

FFSM performance versus SPY

Price and return data through 2026-10-16.

Total return is 69.4% over the past 5.7 years, 44.0 points behind SPY at 113.4%. Over the past year its total return — price change plus distributions reinvested — is 16.7%. Its deepest 1-year drawdown was 13.0%.

FFSM key facts

Distribution Safety Score™

86 · Safe

Safety-Adjusted Yield

0.48%

Issuer

Fidelity Investments

Asset type

ETF

Asset class

Equity

Inception date

02/02/2021

Expense ratio

0.44%

Distribution rate

0.56%

Distribution frequency

Quarterly

Trailing yield

0.49%

Last close

$33.54 (as of 2026-10-16)

AUM

$1,495,657,910

Average volume

1404176.0

Dividend

$0.047

Ex-dividend date

09/18/2026

Payment date

09/22/2026

Beta

1.04

How Dividend Vision calculates yield and returns

Distribution rate (0.56%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.49%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Fidelity Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FFSM risks and drawbacks

FFSM's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 13.0%.

Who may consider FFSM — and who may not

FFSM may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (FFSM pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FFSM

• All tickers starting with F

Tagged: Mid Cap, Small Caps.

Frequently asked questions

More securities from Fidelity Investments.