KSM vs FSML - Compare ETFs side by side

At a glance

Comparing KSM and FSML. FSML has the lower management fee at 0.85% a year and FSML offers the higher at 5.89%.

Lower fee

FSML 0.85% p.a.

Higher yield

FSML 5.89%

Larger fund

FSML $957m

Side-by-side comparison

Metric	KSM K2 Australian Small Cap Hedge Fund - Complex ETF	FSML Firetrail Australian Small Companies Fund - Active ETF
Snapshot
Provider	—	—
Tracks index	—	S&P/ASX Small Ordinaries Index
Categories	AU, Small-Cap, Active	AU, Small-Cap
Listed since	—	2020 (6 yrs)
Fund size (AUM)	$4m	$957m
Cost & income
Management fee	1.31%	0.85%
Dividend yield	—	5.89%
Franking	0%	60%
Turnover	150%	90%
Tax drag	3.6%	3.01%
Returns	Tax bracket - adjusts tax drag & net returns
1-year return	—	-1.3% net
3-year return	—	20.9% net
5-year return	—	6.9% net
10-year return	—	—
Risk
Volatility (3y)	—	15.3%
Volatility (5y)	—	16.9%
Volatility (10y)	—	—
Sharpe ratio (3y)	—	1.06
Sharpe ratio (5y)	—	0.28
Sharpe ratio (10y)	—	—
Bid/ask spread	—	—

marks the strongest fund in each row. “net” shows the after-tax return at your selected bracket. “—” means we don’t have that data point yet.

Each fund at a glance

KSM K2 Australian Small Cap Hedge Fund - Complex ETF

A 1.31% management fee is high and compounds against you over time.

Full KSM analysis →

FSML Firetrail Australian Small Companies Fund - Active ETF

Top-16% returns over 3 years (37th of 236 ETFs we track).
High 5.89% income yield — good for investors who want regular cash flow.

Has lagged most peers over 1 year (237th of 318).

Full FSML analysis →

Frequently Asked Questions

What's the difference between KSM vs FSML?

KSM and FSML are 2 Australian-listed ETFs we compare side by side. FSML carries the lower management fee (0.85%). The table above breaks down fees, returns, income and risk for each.

Which has the lower fees - KSM vs FSML?

FSML has the lower management fee at 0.85% a year, versus KSM 1.31%.

Which pays the higher dividend yield?

FSML pays the higher at 5.89%. Remember distributions are taxed each year at your marginal rate.

Which is the larger and most liquid?

FSML is the larger fund by assets ($957m). Larger funds are typically more liquid and trade on tighter spreads.

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General information only, generated from each fund's published data — not personal financial advice. Past performance is not a reliable indicator of future returns. Consider your own circumstances or seek licensed advice before investing.