# Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD (FFS1) **Page:** https://fundology.uk/fund/ffs1 · ISIN IE000PNL0242 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, FFS1 (Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD, ISIN IE000PNL0242) closed at £4.59 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the year to 13/11/2026 its price changed by +18.4%, or +14.2% after UK CPIH inflation. ## Summary Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD is an exchange-traded fund (ETF) from Fidelity, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.5% a year — about £50 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **£4.59** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | FFS1 | | ISIN | IE000PNL0242 | | Also listed as | FFSM (London Stock Exchange, US dollars) | | Category | US shares | | Type | ETF | | Provider | Fidelity | | Income | Accumulating | | Ongoing charge | 0.50% a year (£50 per £10,000) | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 02/09/2025 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +18.39% | +14.19% | price only | Returns: worked out from recorded daily closes. Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +14.8%. Returns of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +17.6%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | +14.8% | +11.2% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 15.13% | -11.50% | ## Largest fall Volatility of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD in pounds, annualised from weekly returns to 13/11/2026: 15.1% over 1 year. Largest fall in the price of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD since September 2025, in pounds: −11.5% from 26/06/2026 to 23/10/2026. On 13/11/2026 the price of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD was 7.5% below its highest weekly close since September 2025 (26/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD 0.50% a year. Compared on 14/11/2026, 18 of the 254 other US share funds charge more, 3 the same and 233 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.50%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## Questions people ask **What is the ongoing charge of FFS1?** The ongoing charge of FFS1 is 0.50% a year — about £50 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Fidelity US Fundamental Small-Mid Cap UCITS ETF AccumUSD 0.50% a year. Compared on 14/11/2026, 18 of the 254 other US share funds charge more, 3 the same and 233 less (share classes counted once). **Is FFS1 accumulating or distributing?** FFS1 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of FFS1?** The ISIN of FFS1 is IE000PNL0242. An ISIN identifies one exact share class of a fund; FFS1 is its ticker on the London Stock Exchange. The same share class is also listed as FFSM (London Stock Exchange, US dollars). **What were FFS1’s returns in each of the last five years?** Calendar-year returns of FFS1 in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +14.8%. Past performance is not a guide to future returns. **How has FFS1 done after inflation?** Over the year to 13/11/2026 FFS1’s price changed by +18.4%, or +14.2% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.