Fidelity® Small-Mid Cap Opportunities ETF

10-Year Study

FFSM.US · · US · ETF

Executive Summary: Fidelity® Small-Mid Cap Opportunities ETF has compounded at 10.4% annually over the last 10 years, with a maximum drawdown of 24.5% and an annualized volatility of 16.9%.

1Y CAGR
+35.3%
3Y CAGR
+21.3%
5Y CAGR
+9.2%
10Y CAGR
+10.4%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
24.5%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.41
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.80
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
18.8%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2023 · +17.3%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2022 · -16.3%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
80%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
20264.86.0-6.37.6————————12.0%
20255.1-5.0-5.8-2.46.24.11.64.41.51.04.10.114.9%
2024-0.96.65.1-5.84.7-2.37.20.41.3-1.99.1-8.314.4%
20239.2-1.4-4.0-1.3-3.69.14.4-2.1-5.0-5.49.09.217.3%
2022-6.9-0.20.6-7.91.1-11.011.1-3.0-9.510.45.2-4.7-16.3%
2021——3.24.20.3-0.70.73.8-3.05.0-3.74.915.3%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 16.9%. The dominant macroeconomic risk driver is VTI.US, accounting for 89.5% of variance. Idiosyncratic stock-specific factors contribute 3.3%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2021-02-0110000
2021-03-0110322.180000750484
2021-04-0110757.611186888762
2021-05-0110789.184250234712
2021-06-0110709.648523346284
2021-07-0110780.85774551636
2021-08-0111195.380707685432
2021-09-0110862.545109987685
2021-10-0111407.562858225014
2021-11-0110990.064758006392
2021-12-0111533.237717319556
2022-01-0110734.090128105618
2022-02-0110713.284495103639
2022-03-0110775.228181720211
2022-04-019918.698969080931
2022-05-0110028.48794038559
2022-06-018929.947560303617
2022-07-019921.798879928456
2022-08-019619.93004220278
2022-09-018708.845541073078
2022-10-019618.668450578789
2022-11-0110123.440039646326
2022-12-019647.610194251838
2023-01-0110536.079394687415
2023-02-0110387.207886084469
2023-03-019976.808895949283
2023-04-019844.360260288995
2023-05-019487.974952276716
2023-06-0110347.24362101381
2023-07-0110805.214319924478
2023-08-0110580.998526202195
2023-09-0110055.847380131698
2023-10-019507.910872664646
2023-11-0110361.582326108773
2023-12-0111317.213488845218
2024-01-0111215.28612805608
2024-02-0111950.786650900314
2024-03-0112563.114240310191
2024-04-0111830.026915803131
2024-05-0112381.040228044008
2024-06-0112099.778311086498
2024-07-0112969.703501013802
2024-08-0113021.526727349994
2024-09-0113184.578895503799
2024-10-0112929.919463317998
2024-11-0114111.920830088471
2024-12-0112944.499395822384
2025-01-0113599.429963919403
2025-02-0112920.421942784555
2025-03-0112176.13556647682
2025-04-0111886.685781243155
2025-05-0112627.19200389365
2025-06-0113139.25586982075
2025-07-0113350.431519789983
2025-08-0113931.767394668192
2025-09-0114135.980722510289
2025-10-0114281.164501750794
2025-11-0114861.895921741021
2025-12-0114871.43780593597
2026-01-0115583.75461867307
2026-02-0116514.128107096836
2026-03-0115481.995100403283
2026-04-0116659.498953110015
Annual Return Matrix
YearAnnual Return
2022-0.16349507131341412
20230.173058743147412
20240.14378856673341867
20250.14886156282995922
20260.12023458461160597
Total Factor Risk
0.16866939341144047
VTI.US Exposure
0.8947483696863644
VEA.US Exposure
0.1527544578283529
VWO.US Exposure
-0.01698917552132848
QQQ.US Exposure
-0.2789091920685305
VTV.US Exposure
-0.12939549135267428
IJR.US Exposure
0.40750950262780095
QUAL.US Exposure
-0.010966885607834535
SHV.US Exposure
0.007675915631553179
TLT.US Exposure
0.029441887253761626
LQD.US Exposure
-0.012485626030116976
HYG.US Exposure
-0.023010213811729918
GLD.US Exposure
0.009047395203289213
USO.US Exposure
-0.000056131805980547516
VNQ.US Exposure
-0.031994086574274556
BTC-USD.CC Exposure
0.010800393371981435
CPER.US Exposure
0.005242461856604976
VIX.INDX Exposure
-0.018068648891123147
UUP.US Exposure
-0.016157048106447462
TIP.US Exposure
-0.011699099759287982
Idiosyncratic Exposure
0.03251121606961973
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
16.9%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$19
Avg Yield on Cost
0.19%
Annual Income Simulation Table
Historical Realised Yields
YearAnnual PayoutYield on CostQuality
2026$19.380.19%Solid

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+3.8%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+12.8%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
0.8% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.04
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Fidelity® Small-Mid Cap Opportunities ETF a high-risk investment?

Fidelity® Small-Mid Cap Opportunities ETF (FFSM.US) has an annualized volatility of 16.9% and experienced a maximum drawdown of 24.5% over the last 10 years. Its primary macro risk driver is VTI.US.

What is the 10-year return of FFSM.US?

Over the past 10 years, FFSM.US has generated a Compound Annual Growth Rate (CAGR) of 10.4%. It has had a positive return in 80% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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