Fidelity Fundamental Small-Mid Cap ETF
FSMO
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 245 Summer Street Boston MA United States of America 2210
- IPO Date
- Feb 4, 2021
- CIK
- 0000945908
- Similar Companies
- Business
- Fidelity Small-Mid Cap Opportunities ETF (FSMO) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its assets in equity securities of companies with small to medium market capitalizations, similar to those in the Russell 2500 Index; it invests in both domestic and foreign issuers, including growth and value stocks across diversified sectors. The fund holds a portfolio of approximately 500-600 stocks, with top holdings including Builders FirstSource Inc., TechnipFMC plc, TFI International Inc., AutoZone Inc., and Tempur Sealy International Inc., among others; it is non-diversified and utilizes a fundamental active strategy managed by Fidelity portfolio managers such as Tim Gannon and Michelle Hoerber. FSMO features a net expense ratio of 0.64%, with assets under management around $832 million, and trades on the BATS exchange. Launched on February 4, 2021, by Fidelity Covington Trust, headquartered in Boston, Massachusetts, the ETF operates globally with primary exposure to U.S. equities and minor allocations to regions including the United Kingdom, Puerto Rico, India, Netherlands, and France. It targets investors seeking small- and mid-cap blend exposure, administered by State Street Bank and Trust Company and advised by Fidelity Management & Research Company. In February 2024, Fidelity announced significant updates to its active ETF lineup, including a reduction in FSMO's expense ratio by 0.17 basis points as part of the launch of the new Fundamental ETF suite; this involved portfolio management transitions and enhanced transparency for related funds like Fidelity Fundamental Small-Mid Cap ETF (FFSM), with FSMO retaining its semi-transparent structure. The fund continues to benefit from Fidelity's broader ETF expansion, such as the November 2024 launch of additional Enhanced and Fundamental equity ETFs, reinforcing its position within a growing suite of actively managed products exceeding $25 billion in assets. No major acquisitions, partnerships, or name changes have been reported for FSMO in the last 1-2 years, though Fidelity Investments Canada introduced complementary global small-mid cap strategies in October 2025.