FSMD Fees and Costs — Fidelity Small-Mid Multifactor ETF
Data updated: 2026-10-13
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $372K in broker commissions, 0.0179% of average net assets, and portfolio turnover was 38%.
FSMD Fees and Expenses
Annual operating expenses and sales charges of FSMD. Prospectus, as of November 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
FSMD Costs Over Time
On $10,000 invested in FSMD, assuming 5% a year before costs, total costs come to $107 over 5 years, cutting the return by 0.18% 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 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $2 | $6 | $10 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $18 | $58 | $107 |
| Value after costs | $10,482 | $11,518 | $12,656 |
| Impact on return, per year | 0.18% | 0.18% | 0.18% |
FSMD 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): 0.0179%
- Total broker commissions: $372K
- Bought from dealers (principal trades, not a cost): $606K
- Portfolio turnover (prospectus): 38%
FSMD Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BANK OF AMERICA CORPORATION | $185K | 49.67% |
| GOLDMAN SACHS GROUP INC (THE) | $183K | 49.18% |
| NOMURA HOLDINGS INC | $1K | 0.37% |
| JEFFERIES FINANCIAL GROUP INC | $1K | 0.29% |
| MACQUARIE GROUP LTD | $500 | 0.13% |
| JPMORGAN CHASE and CO | $336 | 0.09% |
| MORGAN STANLEY | $326 | 0.09% |
| BARCLAYS PLC | $318 | 0.09% |
| MIZUHO FINANCIAL GROUP INC | $210 | 0.06% |
| UBS GROUP AG | $123 | 0.03% |
FSMD Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BANK OF MONTREAL QUE | $270K | 44.46% |
| CITIGROUP INC | $174K | 28.75% |
| JPMORGAN CHASE and CO | $162K | 26.79% |
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.