Fidelity Enhanced Small Cap Value ETF (FSEV)

Fidelity Enhanced Small Cap Value ETF (FSEV) is an actively managed equity exchange-traded fund from Fidelity Investments, launched in 2026.

The fund invests in U.S. small-cap companies with value characteristics, selecting securities mainly from the Russell 2000 Value Index. Fidelity's enhanced strategy relies on a quantitative model to overweight stocks it views as attractive and underweight others, while keeping the portfolio's risk profile close to that benchmark.

The goal is to seek modestly better results than the small-cap value segment through disciplined, model-driven stock selection. Holdings are diversified across a large number of smaller U.S. companies, commonly in financials, industrials, real estate and energy, which keeps individual position sizes modest. The fund is listed on NYSE Arca.