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- Upturn Summary
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Upturn AI Summary
Fidelity Small-Mid Factor(FSMD)
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 FSMD
10/23/2026: FSMD (2-star) is currently NOT-A-BUY. Pass it for now.
Fidelity Small-Mid Factor (FSMD) provides active, multi-factor exposure to U.S. small- and mid-cap companies, filtering for value, quality, and momentum. Its primary strength lies in Fidelity's sophisticated quantitative research, offering a disciplined approach at a reasonable cost. It serves well as a strategic satellite holding for investors seeking to outperform market-cap-weighted indices. Investors should be mindful of the inherent volatility of smaller-cap stocks and the risks associated with active factor performance. It is best suited for long-term investors comfortable with market fluctuations who wish to capture systematic factor premiums beyond basic beta.
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 | Mixed fit | The factor strategy may tilt away from pure growth stocks in favor of value or quality characteristics. |
| Momentum investor | Strong fit while signal remains positive | The fund explicitly incorporates a momentum factor into its selection process, making it suitable when this factor is performing well. |
| Value investor | Strong fit | The fund's inclusion of a value factor makes it a compelling choice for investors seeking exposure to undervalued stocks. |
| Dividend/Income investor | Weak fit | The fund is focused on capital appreciation through factor tilts rather than prioritizing dividend yield. |
| Low-risk investor | Weak fit | Exposure to small- and mid-cap equities inherently carries higher volatility than large-cap or broad market funds. |
Investor Profile
Ideal Investor Profile
The ideal investor is a mid-to-long-term participant who believes in the efficacy of factor-based investing and seeks a diversified exposure to small- and mid-cap stocks.
Suitability
The fund is best suited for long-term investors looking to complement their core large-cap holdings with a factor-driven small/mid-cap tilt.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium / high | Small- and mid-cap stocks generally experience higher price fluctuations than large-cap benchmarks. |
| Market risk | Medium / high | The fund remains fully exposed to systemic market downturns affecting the U.S. equity market. |
| Concentration | Medium | The factor-based selection process may result in industry or style tilts that deviate from the broad market. |
| Tracking/expense | Low | The fund is actively managed and does not aim to perfectly track an index, leading to inherent performance deviations. |
| Liquidity | Medium | Small-cap components may have lower daily trading volumes, which can impact execution during market stress. |
| Business/sector quality | Medium | The fund's reliance on factor data means sector weights can shift significantly based on the prevailing market regime. |
Risk Analysis
Volatility
FSMD exhibits moderate-to-high historical volatility, characteristic of the small- and mid-cap asset class and compounded by active factor-based security selection.
Market Risk
The fund is subject to systematic risk and economic sensitivity, particularly regarding interest rate fluctuations and general equity market sentiment towards smaller companies.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Market capitalization | U.S. Small-Cap Equities | 55 | Provides exposure to smaller companies that may offer higher growth potential but carry higher volatility. |
| Market capitalization | U.S. Mid-Cap Equities | 40 | Mid-cap companies provide a balance between the stability of large-caps and the growth of small-caps. |
| Cash/collateral | Cash and Cash Equivalents | 5 | Small cash position held for liquidity and settlement of trades. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 37.02% | Avg. Invested days 106 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  5.0 | ETF Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/23/2026 |
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