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Fidelity Enhanced Small Cap (FESM)
Look-through valuation · Style & factor · Expense ratio 0.28 % · ISIN US31609A2069
Price history (since 2023)
Monthly close since 2023. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| Commercial Metals Company CMC | 0.8 % | −73.5 % | 57 |
| Oscar Health Inc OSCR | 0.7 % | +104.0 % | 56 |
| Installed Building Products Inc IBP | 0.7 % | −11.0 % | 70 |
| Option Care Health Inc OPCH | 0.7 % | +23.5 % | 68 |
| KODIAK GAS SERVICES INC US50012A1088 | 0.7 % | n/a | n/a |
| HealthEquity Inc HQY | 0.7 % | −42.5 % | 79 |
| Tenable Holdings Inc TENB | 0.7 % | −86.8 % | 54 |
| Plexus Corp PLXS | 0.7 % | −30.4 % | 63 |
| Tutor Perini Corporation TPC | 0.6 % | −63.4 % | 68 |
| Outfront Media Inc OUT | 0.6 % | −55.8 % | 48 |
| Phillips Edison & Co Inc PECO | 0.6 % | −61.8 % | 53 |
| Glaukos Corp GKOS | 0.6 % | n/a | n/a |
| Enersys ENS | 0.6 % | −11.2 % | 70 |
| Griffon Corporation GFF | 0.6 % | −73.0 % | 68 |
| Balchem Corporation BCPC | 0.6 % | −55.3 % | 70 |
| Payoneer Global Inc PAYO | 0.6 % | −60.5 % | 51 |
| WesBanco, Inc. WSBC | 0.6 % | −44.6 % | 40 |
| Guardant Health Inc GH | 0.6 % | n/a | n/a |
| WSFS Financial Corporation WSFS | 0.5 % | −40.9 % | 60 |
| BrightSpring Health Services, Inc. Common Stock BTSG | 0.5 % | −69.9 % | 42 |
| Fluor Corporation FLR | 0.5 % | n/a | n/a |
| ACI Worldwide Inc ACIW | 0.5 % | −1.2 % | 74 |
| CECO Environmental Corp CECE | 0.5 % | n/a | n/a |
| Sensient Technologies Corporation SXT | 0.5 % | −78.6 % | 54 |
| Stonex Group Inc SNEX | 0.5 % | −24.9 % | 37 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 48 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +65.2 % below FV
- 2 CHIQ Global X MSCI China Consumer Disc ETF +56.4 % below FV
- 3 FXI iShares China Large-Cap ETF +52.9 % below FV
- 4 KWEB KraneShares CSI China Internet ETF +44.4 % below FV
- 5 FLCH Franklin FTSE China ETF +38.3 % below FV
- 6 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +29.9 % below FV
- 7 MCHI iShares MSCI China ETF +28.1 % below FV
- 8 ITB iShares U.S. Home Construction ETF +18.6 % below FV
- 9 TAN Invesco Solar ETF +17.9 % below FV
- 10 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +8.4 % below FV
Frequently asked about FESM
Is FESM overvalued?
How do you calculate the fair value of an ETF?
Which stocks drive the valuation of FESM?
What is the expense ratio of FESM?
How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Fidelity Enhanced Small Cap ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Sep 4, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.