FFSM vs. TMSL ETF Comparison

Comparison of Fidelity Fundamental Small-Mid Cap ETF (FFSM) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF (TMSL)

FFSM

Fidelity Fundamental Small-Mid Cap ETF

FFSM Description

FFSM discloses holdings only on a monthly basis with a 30-day lag. The fund actively selects global mid- and small-cap companies with both growth and value factors. The portfolio is selected using fundamental and quantitative analysis, considering factors such as issuer's financial health and industry position, as well as the overall economic condition. The fund has a Tracking Basket Structure in place, which acts as a proxy portfolio that includes some of the funds holdings from recent disclosure, significant portion of the funds holdings, and cash. This is designed to track the funds daily performance, facilitate arbitrage opportunities and help mitigate the risk of front-running. However, investors should note that its non-transparent structure could result in wider spreads. Before February 26, 2024, the fund traded as Fidelity Small-Mid Cap Opportunities ETF under the ticker FSMO.

Grade (RS Rating)

Last Trade

$28.75

Average Daily Volume

28,347

Number of Holdings ^*

171

* may have additional holdings in another (foreign) market

TMSL

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Small-Mid Cap ETF

TMSL Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in assets issued by small- or mid-cap companies. The fund may at times invest significantly in certain sectors, such as the information technology sector.

Grade (RS Rating)

Last Trade

$34.10

Average Daily Volume

71,985

Number of Holdings ^*

256

* may have additional holdings in another (foreign) market

Performance

Period	FFSM	TMSL
30 Days	5.05%	5.15%
60 Days	4.89%	5.62%
90 Days	5.78%	6.97%
12 Months	33.64%	34.59%

35 Overlapping Holdings

Symbol	Grade	Weight in FFSM	Weight in TMSL	Overlap
ACM	B	0.66%	0.12%	0.12%
ASGN	F	0.65%	0.28%	0.28%
AYI	B	0.81%	0.27%	0.27%
AZEK	A	0.3%	0.24%	0.24%
BCO	F	0.56%	0.39%	0.39%
BJ	A	1.22%	0.28%	0.28%
BLDR	D	0.46%	0.25%	0.25%
CHDN	B	0.54%	0.25%	0.25%
CLDX	F	0.1%	0.11%	0.1%
CRL	D	0.52%	0.22%	0.22%
CRNX	C	0.19%	0.23%	0.19%
DOX	D	0.92%	0.31%	0.31%
EME	A	1.81%	0.54%	0.54%
FBP	C	0.29%	0.52%	0.29%
FTI	A	1.47%	1.23%	1.23%
HOLX	D	0.56%	0.4%	0.4%
LPLA	A	0.01%	0.27%	0.01%
LPX	B	0.65%	0.3%	0.3%
MDGL	B	0.16%	0.11%	0.11%
MNDY	C	0.14%	0.51%	0.14%
MOH	F	1.1%	0.3%	0.3%
NXST	C	0.75%	0.35%	0.35%
PATK	C	0.2%	0.56%	0.2%
PBH	A	0.06%	0.17%	0.06%
PCVX	D	0.32%	0.34%	0.32%
PFGC	B	1.16%	0.25%	0.25%
RGA	A	0.76%	0.51%	0.51%
RGEN	D	0.19%	0.21%	0.19%
STLD	B	0.01%	0.54%	0.01%
UHS	D	1.5%	0.34%	0.34%
USFD	A	1.16%	0.32%	0.32%
VNT	C	0.59%	0.26%	0.26%
WBS	A	0.57%	0.8%	0.57%
WFRD	D	0.33%	0.22%	0.22%
XPRO	D	0.14%	0.52%	0.14%

FFSM Overweight 136 Positions Relative to TMSL

Symbol	Grade	Weight
TPX	B	1.46%
ACGL	C	1.45%
EXP	B	1.44%
MUSA	B	1.34%
NSIT	F	1.33%
AR	B	1.27%
FN	C	1.22%
ITT	A	1.2%
CROX	D	1.17%
VRT	B	1.14%
SN	D	1.11%
JLL	D	1.1%
CACI	D	1.06%
WHD	B	1.01%
CR	A	1.01%
RRX	B	1.01%
ORI	A	0.96%
SNX	D	0.95%
AIZ	A	0.91%
BOOT	C	0.9%
TMDX	F	0.9%
LNG	A	0.9%
DFS	B	0.89%
AIT	B	0.88%
SNV	C	0.88%
DKS	D	0.84%
STX	C	0.84%
TGLS	B	0.81%
FAF	A	0.77%
ALSN	B	0.76%
BC	C	0.76%
VTR	B	0.76%
SF	B	0.75%
PNFP	B	0.73%
PCG	A	0.72%
HLI	A	0.71%
GPK	C	0.71%
AEIS	C	0.66%
AES	F	0.65%
KBH	D	0.64%
FCNCA	A	0.63%
ON	D	0.62%
BECN	B	0.61%
MMS	F	0.6%
CMC	B	0.6%
FSS	B	0.6%
LBRT	D	0.59%
G	B	0.59%
CBT	D	0.59%
CADE	B	0.59%
NOG	B	0.57%
MEDP	D	0.57%
MTSI	B	0.57%
PRI	B	0.56%
EPRT	B	0.56%
XPO	B	0.56%
ESI	B	0.54%
CIEN	C	0.53%
ASO	F	0.53%
WTFC	A	0.52%
CWK	C	0.51%
RJF	A	0.51%
PVH	C	0.51%
HAYW	B	0.51%
IESC	C	0.51%
GMS	B	0.51%
WIX	A	0.5%
AFG	A	0.49%
EBC	B	0.49%
CTRE	C	0.49%
EAT	A	0.47%
CNM	D	0.47%
KBR	F	0.46%
BOKF	B	0.46%
TENB	C	0.45%
OLN	F	0.45%
PRCT	B	0.44%
LITE	B	0.44%
NOMD	D	0.42%
AXTA	B	0.42%
TEX	F	0.42%
ARGX	B	0.41%
COMP	B	0.4%
LW	C	0.4%
MASI	B	0.39%
IP	A	0.37%
CXT	C	0.36%
CAH	B	0.36%
GVA	A	0.35%
RUSHA	C	0.35%
AZZ	A	0.34%
GTES	A	0.33%
FLEX	B	0.31%
UPBD	B	0.3%
ARCB	C	0.3%
MTB	A	0.3%
SKY	A	0.3%
LEA	F	0.3%
GRBK	D	0.3%
CNXC	F	0.29%
IBTX	B	0.29%
LCII	C	0.29%
DIOD	D	0.27%
AMN	F	0.27%
ALGM	D	0.24%
LAUR	A	0.24%
DOOO	F	0.23%
ACLX	C	0.19%
KFRC	D	0.18%
CYTK	F	0.18%
NUVL	C	0.16%
AAP	D	0.15%
KROS	D	0.13%
ELVN	D	0.12%
VCEL	B	0.12%
VRDN	D	0.12%
OMI	F	0.12%
AXSM	B	0.11%
ANAB	F	0.11%
CSTM	F	0.11%
TYRA	F	0.11%
COGT	D	0.11%
LBPH	A	0.1%
ICLR	D	0.1%
XENE	D	0.09%
AUTL	F	0.08%
TCBK	C	0.08%
MRUS	F	0.07%
ARVN	F	0.04%
ATKR	D	0.01%
FIBK	B	0.01%
CC	C	0.01%
AME	A	0.01%
ALXO	F	0.0%
EWTX	C	0.0%
ZNTL	F	0.0%

FFSM Underweight 221 Positions Relative to TMSL

Symbol	Grade	Weight
SWK	D	-1.44%
SEM	B	-1.35%
CPAY	A	-1.23%
MKSI	C	-1.19%
TXT	D	-1.17%
WAL	B	-1.15%
BPOP	C	-1.14%
THC	D	-1.13%
RNR	C	-0.95%
DT	D	-0.87%
REXR	F	-0.84%
ESAB	C	-0.81%
LAMR	C	-0.79%
RPM	A	-0.77%
SSNC	B	-0.75%
GDDY	A	-0.75%
HII	F	-0.75%
DOCU	B	-0.71%
VOYA	B	-0.67%
LDOS	C	-0.65%
BFAM	D	-0.65%
GEN	B	-0.64%
RL	C	-0.63%
WU	F	-0.62%
TFX	F	-0.61%
RS	B	-0.61%
TOL	B	-0.6%
INSM	C	-0.59%
CUBE	C	-0.59%
NTNX	B	-0.59%
BDC	C	-0.59%
NI	A	-0.59%
VNO	C	-0.58%
CRBG	B	-0.58%
ZBRA	B	-0.57%
SAIA	B	-0.56%
HBAN	A	-0.56%
SITE	F	-0.55%
OPCH	D	-0.54%
CF	A	-0.53%
BURL	B	-0.53%
ENTG	D	-0.52%
STNG	F	-0.52%
WYNN	C	-0.51%
MWA	B	-0.51%
WING	D	-0.5%
CVNA	B	-0.5%
SUM	B	-0.5%
AGCO	D	-0.5%
VTRS	A	-0.5%
CW	C	-0.49%
IOT	A	-0.49%
CLH	C	-0.48%
APG	B	-0.48%
EWBC	A	-0.48%
WSC	F	-0.48%
COOP	B	-0.47%
DUOL	A	-0.47%
ST	F	-0.46%
BLX	B	-0.46%
EQH	C	-0.46%
EXAS	D	-0.45%
TYL	B	-0.45%
TTC	C	-0.45%
EHC	B	-0.45%
OMF	A	-0.45%
MIDD	C	-0.44%
MORN	B	-0.44%
TOST	B	-0.43%
BRX	A	-0.43%
HUBB	B	-0.43%
RRC	B	-0.43%
JBL	C	-0.42%
TKR	D	-0.42%
PLNT	A	-0.41%
LRN	A	-0.41%
KFY	B	-0.41%
FMC	D	-0.41%
NVR	D	-0.41%
TNL	A	-0.4%
EG	C	-0.4%
VFC	C	-0.39%
AEE	A	-0.39%
AWI	A	-0.39%
FND	D	-0.39%
DKNG	B	-0.39%
RYN	D	-0.39%
BBWI	C	-0.38%
SUI	C	-0.38%
DPZ	C	-0.38%
NCLH	B	-0.37%
PHIN	A	-0.37%
VRRM	F	-0.37%
PR	B	-0.36%
REG	A	-0.36%
PTC	B	-0.36%
FITB	B	-0.35%
NWS	A	-0.35%
RNA	C	-0.34%
UPWK	B	-0.33%
STGW	A	-0.33%
FLO	D	-0.33%
ULTA	F	-0.33%
DRH	B	-0.32%
BPMC	B	-0.32%
GEO	B	-0.32%
KMPR	A	-0.32%
DOLE	D	-0.32%
MAIN	A	-0.31%
SKWD	A	-0.31%
RVTY	F	-0.31%
MANH	D	-0.3%
OC	A	-0.3%
POR	C	-0.3%
HWM	A	-0.29%
EVRI	A	-0.29%
NBIX	C	-0.29%
SHOO	F	-0.29%
BERY	C	-0.28%
TECH	F	-0.28%
OFG	B	-0.28%
LSTR	D	-0.28%
ARMK	B	-0.28%
FCN	F	-0.28%
FTDR	B	-0.27%
ATEN	A	-0.27%
PAYO	A	-0.27%
ELS	C	-0.26%
CASY	A	-0.26%
CPA	D	-0.26%
STEP	C	-0.26%
KRC	B	-0.26%
ELF	C	-0.26%
ELAN	D	-0.26%
PLAB	C	-0.25%
HST	C	-0.25%
KYMR	D	-0.25%
SCI	B	-0.25%
NTRA	A	-0.25%
VRTS	B	-0.25%
PCTY	C	-0.24%
MTX	B	-0.24%
MCB	B	-0.24%
GLOB	B	-0.24%
RVMD	C	-0.24%
BLBD	D	-0.24%
BOX	B	-0.24%
CBOE	C	-0.23%
BLD	D	-0.23%
OIS	B	-0.23%
RDDT	A	-0.23%
EEFT	B	-0.23%
CTLT	C	-0.23%
TREX	C	-0.23%
UFPI	C	-0.22%
TDW	F	-0.22%
CELH	F	-0.22%
ESS	B	-0.22%
ALV	C	-0.22%
ALKS	C	-0.21%
EPR	C	-0.21%
ONON	A	-0.21%
LSCC	D	-0.21%
VRNT	C	-0.21%
BRZE	C	-0.21%
WFG	C	-0.21%
LPRO	B	-0.21%
PK	C	-0.2%
SWN	C	-0.2%
PRDO	B	-0.2%
KEX	B	-0.2%
THG	A	-0.2%
TXRH	B	-0.2%
EVRG	A	-0.2%
CWEN	C	-0.2%
NWE	B	-0.19%
OLLI	D	-0.19%
HAFC	B	-0.19%
NFG	A	-0.19%
BGNE	D	-0.18%
AHH	D	-0.18%
LUV	C	-0.18%
LEGN	D	-0.18%
RARE	F	-0.18%
ENS	F	-0.17%
TW	A	-0.17%
WDC	D	-0.17%
PLUS	F	-0.16%
AVNT	B	-0.16%
BFS	C	-0.16%
AVY	F	-0.16%
REPL	D	-0.16%
SRPT	F	-0.16%
BWXT	B	-0.16%
VERA	C	-0.16%
FIX	A	-0.16%
GMRE	F	-0.15%
HIG	B	-0.15%
XRAY	F	-0.15%
CVLT	B	-0.15%
CNP	A	-0.15%
WTTR	A	-0.15%
NRIX	C	-0.14%
TDC	D	-0.14%
AMAL	B	-0.14%
ESNT	F	-0.13%
XNCR	B	-0.12%
ASND	F	-0.12%
NTLA	F	-0.11%
ACAD	C	-0.11%
IONS	F	-0.11%
AKRO	B	-0.11%
IDYA	F	-0.1%
ANET	C	-0.1%
APPF	B	-0.08%
RCKT	F	-0.08%
BXC	B	-0.08%
PRTA	F	-0.07%
SRRK	C	-0.06%
PLRX	D	-0.06%
SWTX	C	-0.04%