FFSM Fees and Costs — Fidelity Fundamental Small-Mid Cap ETF
Data updated: 2026-10-13
The net expense ratio is 0.43%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $213K in broker commissions, 0.0205% of average net assets, and portfolio turnover was 66%.
FFSM Fees and Expenses
Annual operating expenses and sales charges of FFSM. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.43% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.43% |
| Fee waiver | — |
| Net expense ratio | 0.43% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
FFSM Costs Over Time
On $10,000 invested in FFSM, assuming 5% a year before costs, total costs come to $285 over 5 years, cutting the return by 0.47% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.43%) | $45 | $142 | $247 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $7 | $26 |
| Total costs | $47 | $156 | $285 |
| Value after costs | $10,453 | $11,421 | $12,478 |
| Impact on return, per year | 0.47% | 0.47% | 0.47% |
FFSM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending July 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0205%
- Total broker commissions: $213K
- Bought from dealers (principal trades, not a cost): $1.6M
- Portfolio turnover (prospectus): 66%
FFSM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $31K | 18.14% |
| GOLDMAN SACHS GROUP INC (THE) | $27K | 15.99% |
| MORGAN STANLEY | $22K | 13.15% |
| UBS GROUP AG | $20K | 11.78% |
| BARCLAYS PLC | $14K | 8.48% |
| JPMORGAN CHASE and CO | $14K | 8.40% |
| JEFFERIES FINANCIAL GROUP INC | $12K | 7.37% |
| CITIGROUP INC | $11K | 6.73% |
| THE TORONTO DOMINION BANK | $9K | 5.47% |
| VIRTU FINANCIAL INC | $8K | 4.49% |
FFSM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES FINANCIAL GROUP INC | $1.4M | 90.05% |
| LEERINK PARTNERS LLC | $156K | 9.95% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.