CARZ vs. FDIS

Last updated Jun 4, 2026

CARZ (First Trust NASDAQ Global Auto Index Fund) and FDIS (Fidelity MSCI Consumer Discretionary Index ETF) are both Consumer Discretionary Equities funds - CARZ tracks the NASDAQ OMX Global Automobile (TR) while FDIS tracks the MSCI USA IMI Consumer Discretionary Index. Both are passively managed. Over the past 10 years, CARZ returned 16.49%/yr vs 13.68%/yr for FDIS. A 0.69 correlation means they provide meaningful diversification when combined. CARZ charges 0.70%/yr vs 0.08%/yr for FDIS.

Performance

CARZ vs. FDIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Global Auto Index Fund (CARZ) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARZ achieves a 57.52% return, which is significantly higher than FDIS's -0.65% return. Over the past 10 years, CARZ has outperformed FDIS with an annualized return of 16.49%, while FDIS has yielded a comparatively lower 13.68% annualized return.

CARZ

• 1D: -0.37%
• 1M: 19.08%
• YTD: 57.52%
• 6M: 60.74%
• 1Y: 116.25%
• 3Y*: 34.19%
• 5Y*: 16.32%
• 10Y*: 16.49%

FDIS

• 1D: -0.72%
• 1M: -0.07%
• YTD: -0.65%
• 6M: -0.87%
• 1Y: 9.82%
• 3Y*: 15.08%
• 5Y*: 6.19%
• 10Y*: 13.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CARZ vs. FDIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CARZ First Trust NASDAQ Global Auto Index Fund	57.52%	37.18%	3.26%	42.47%	-31.25%	18.09%	54.66%	11.39%	-23.91%	25.47%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	-0.65%	5.67%	24.43%	40.48%	-35.23%	24.25%	49.50%	27.44%	-0.88%	22.96%

Correlation

The correlation between CARZ and FDIS is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.69

The correlation between CARZ and FDIS shifts across timeframes, from 0.64 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

CARZ vs. FDIS - Sectors Allocation Comparison

Sectors	CARZ	FDIS
Technology	60.6%	0.9%
Consumer Cyclical	19.5%	96.9%
Industrials	8.1%	0.8%
Basic Materials	6.6%	-
Communication Services	5.1%	0.2%
Consumer Defensive	-	1.0%
Energy	-	-
Financial Services	-	0.1%
Healthcare	-	0.1%
Real Estate	-	0.1%
Utilities	-	-

Return for Risk

CARZ vs. FDIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CARZ

CARZ Risk / Return Rank: 95
CARZ Sharpe Ratio Rank: 97
CARZ Sortino Ratio Rank: 95
CARZ Omega Ratio Rank: 94
CARZ Calmar Ratio Rank: 95
CARZ Martin Ratio Rank: 95

FDIS

FDIS Risk / Return Rank: 17
FDIS Sharpe Ratio Rank: 17
FDIS Sortino Ratio Rank: 17
FDIS Omega Ratio Rank: 16
FDIS Calmar Ratio Rank: 17
FDIS Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CARZ vs. FDIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Global Auto Index Fund (CARZ) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CARZ	FDIS	Difference
Sharpe ratio: Return per unit of total volatility	4.53	0.54	+4.00
Sortino ratio: Return per unit of downside risk	5.19	0.88	+4.32
Omega ratio: Gain probability vs. loss probability	1.70	1.10	+0.59
Calmar ratio: Return relative to maximum drawdown	8.10	0.64	+7.46
Martin ratio: Return relative to average drawdown	32.71	2.00	+30.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARZ vs. FDIS - Sharpe Ratio Comparison

The current CARZ Sharpe Ratio is 4.53, which is higher than the FDIS Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of CARZ and FDIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CARZ	FDIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	0.54	+4.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.26	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.62	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.61	-0.15

Drawdowns

CARZ vs. FDIS - Drawdown Comparison

The maximum CARZ drawdown since its inception was -51.20%, which is greater than FDIS's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for CARZ and FDIS.

Drawdown Indicators

	CARZ	FDIS	Difference
Max Drawdown Largest peak-to-trough decline	-51.20%	-39.16%	-12.04%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-15.50%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-27.84%	-27.43%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-40.30%	-39.16%	-1.14%
Max Drawdown (10Y) Largest decline over 10 years	-51.20%	-39.16%	-12.04%
Current Drawdown Current decline from peak	-0.37%	-5.22%	+4.85%
Average Drawdown Average peak-to-trough decline	-12.90%	-7.50%	-5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	4.93%	-1.36%

Volatility

CARZ vs. FDIS - Volatility Comparison

First Trust NASDAQ Global Auto Index Fund (CARZ) has a higher volatility of 10.14% compared to Fidelity MSCI Consumer Discretionary Index ETF (FDIS) at 5.20%. This indicates that CARZ's price experiences larger fluctuations and is considered to be riskier than FDIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARZ	FDIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	5.20%	+4.94%
Volatility (6M) Calculated over the trailing 6-month period	20.31%	13.06%	+7.25%
Volatility (1Y) Calculated over the trailing 1-year period	25.79%	18.37%	+7.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.11%	23.87%	+4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.27%	22.29%	+3.98%

CARZ vs. FDIS - Expense Ratio Comparison

CARZ has a 0.70% expense ratio, which is higher than FDIS's 0.08% expense ratio.

Dividends

CARZ vs. FDIS - Dividend Comparison

CARZ's dividend yield for the trailing twelve months is around 1.35%, more than FDIS's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.35%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.73%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%

Frequently Asked Questions

Can I hold both CARZ and FDIS in my portfolio?

CARZ and FDIS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARZ or FDIS?

CARZ has higher volatility (10.14%) compared to FDIS (5.20%). In terms of maximum drawdown, CARZ dropped -51.20% vs FDIS's -39.16%.

Which ETF is better, CARZ or FDIS?

On 10-year performance, CARZ leads with 16.49% vs 13.68% for FDIS. On fees, FDIS is cheaper at 0.08% per year. On volatility, FDIS has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARZ or FDIS?

Over the 10-year period, CARZ has performed better with a 16.49% return vs 13.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARZ or FDIS?

FDIS is cheaper with a 0.08% expense ratio, compared with 0.70% for CARZ.

Which ETF pays a higher dividend yield, CARZ or FDIS?

CARZ has the higher dividend yield at 1.35%, compared with 0.73% for FDIS.

What is the main difference between CARZ and FDIS?

CARZ tracks NASDAQ OMX Global Automobile (TR), while FDIS tracks MSCI USA IMI Consumer Discretionary Index. They also come from different issuers: First Trust and Fidelity. Their fees differ too: 0.70% for CARZ and 0.08% for FDIS.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (4.53 vs 0.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.