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Fidelity Enhanced Small Cap ETF(FESM)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for FESM
11/12/2026: FESM (5-star) is currently NOT-A-BUY. Pass it for now.
Fidelity Enhanced Small Cap ETF (FESM) provides active, factor-based exposure to the US small-cap equity market, aiming to outperform traditional passive indices. Its primary strengths include Fidelity's institutional research capabilities and a competitive expense ratio for an active product. The fund is designed as a core or satellite holding for investors seeking potential alpha within the small-cap space. Key risks include higher inherent volatility of small-cap stocks and the potential for active management to underperform benchmarks. It is best suited for long-term investors comfortable with the risks of small-cap equity volatility.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | The fund's focus on small-cap companies offers significant potential for capital appreciation. |
| Momentum investor | Strong fit while signal remains positive | The active factor-based strategy is designed to capture momentum trends in the small-cap segment. |
| Value investor | Mixed fit | While valuation is a factor, the fund is not a pure-play value strategy. |
| Dividend/Income investor | Weak fit | The fund focuses on capital growth rather than generating steady dividend income. |
| Low-risk investor | Weak fit | Small-cap equities carry inherently higher volatility than large-cap or fixed-income assets. |
Investor Profile
Ideal Investor Profile
The ideal investor is a long-term participant looking for active exposure to the US small-cap market.
Suitability
Best suited for long-term investors who believe in active factor-based management and can tolerate small-cap volatility.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | High | Small-cap stocks are historically more volatile than the broader market. |
| Market risk | Medium / high | Broad economic downturns can disproportionately impact smaller companies. |
| Concentration | Medium | The fund's active selection may lead to sector tilts that deviate from the benchmark. |
| Tracking/expense | Low | As an active fund, it does not aim to track an index, so traditional tracking error is less relevant. |
| Liquidity | Medium | Individual small-cap stocks can occasionally experience liquidity constraints during market panics. |
| Business/sector quality | Medium | The reliance on active models means performance depends on the quality of the fund's investment signals. |
Sector & Industry Intelligence
This fund is not assigned to one sector.
Risk Analysis
Volatility
FESM exhibits higher-than-average market volatility typical of small-cap indices.
Market Risk
The fund is directly exposed to small-cap economic cycles, credit tightening, and idiosyncratic business risks.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Market capitalization | US Small-Cap Equities | 98 | This provides core exposure to small-cap US companies across diverse economic sectors. |
| Cash/collateral | Cash and Cash Equivalents | 2 | Small cash balances are maintained for operational liquidity and trade settlement. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type ETF | Historic Profit 24.32% | Avg. Invested days 70 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | ETF Returns Performance  4.0 |
| Profits based on simulation | Last Close 11/12/2026 |
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