ED vs. FUTY

Last updated Jun 9, 2026

ED (Consolidated Edison, Inc.) is a stock, while FUTY (Fidelity MSCI Utilities Index ETF) is Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Over the past 10 years, ED returned 6.82%/yr vs 8.88%/yr for FUTY. Their correlation of 0.81 suggests significant overlap in exposure.

Performance

ED vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Consolidated Edison, Inc. (ED) and Fidelity MSCI Utilities Index ETF (FUTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ED achieves a 6.73% return, which is significantly higher than FUTY's 2.65% return. Over the past 10 years, ED has underperformed FUTY with an annualized return of 6.82%, while FUTY has yielded a comparatively higher 8.88% annualized return.

ED

• 1D: -1.84%
• 1M: -1.06%
• YTD: 6.73%
• 6M: 11.06%
• 1Y: 6.07%
• 3Y*: 7.34%
• 5Y*: 10.07%
• 10Y*: 6.82%

FUTY

• 1D: -1.86%
• 1M: -2.64%
• YTD: 2.65%
• 6M: 3.06%
• 1Y: 10.63%
• 3Y*: 12.75%
• 5Y*: 8.95%
• 10Y*: 8.88%

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

ED vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ED Consolidated Edison, Inc.	6.73%	15.15%	1.55%	-1.12%	15.65%	22.96%	-16.99%	22.54%	-6.62%	19.30%
FUTY Fidelity MSCI Utilities Index ETF	2.65%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Correlation

The correlation between ED and FUTY is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.81

Over the past year, the correlation between ED and FUTY has dropped to 0.55 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

ED vs. FUTY — Risk / Return Rank

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

ED

ED Risk / Return Rank: 52
ED Sharpe Ratio Rank: 55
ED Sortino Ratio Rank: 47
ED Omega Ratio Rank: 44
ED Calmar Ratio Rank: 56
ED Martin Ratio Rank: 56

FUTY

FUTY Risk / Return Rank: 23
FUTY Sharpe Ratio Rank: 23
FUTY Sortino Ratio Rank: 22
FUTY Omega Ratio Rank: 22
FUTY Calmar Ratio Rank: 27
FUTY Martin Ratio Rank: 22

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.

ED vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Consolidated Edison, Inc. (ED) and Fidelity MSCI Utilities Index ETF (FUTY). 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.

	ED	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.74	-0.37
Sortino ratio: Return per unit of downside risk	0.62	1.08	-0.46
Omega ratio: Gain probability vs. loss probability	1.07	1.13	-0.06
Calmar ratio: Return relative to maximum drawdown	0.63	1.19	-0.56
Martin ratio: Return relative to average drawdown	1.35	2.64	-1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ED vs. FUTY - Sharpe Ratio Comparison

The current ED Sharpe Ratio is 0.37, which is lower than the FUTY Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of ED and FUTY, 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

	ED	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.74	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.53	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.47	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.55	-0.18

Drawdowns

ED vs. FUTY - Drawdown Comparison

The maximum ED drawdown since its inception was -78.90%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for ED and FUTY.

Drawdown Indicators

	ED	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-78.90%	-36.44%	-42.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-8.93%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-17.36%	-17.35%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-22.03%	-25.11%	+3.08%
Max Drawdown (10Y) Largest decline over 10 years	-30.91%	-36.44%	+5.53%
Current Drawdown Current decline from peak	-8.90%	-7.74%	-1.16%
Average Drawdown Average peak-to-trough decline	-13.24%	-6.03%	-7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	4.03%	+0.49%

Volatility

ED vs. FUTY - Volatility Comparison

Consolidated Edison, Inc. (ED) and Fidelity MSCI Utilities Index ETF (FUTY) have volatilities of 5.44% and 5.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ED	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	5.64%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	12.12%	11.56%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.55%	14.40%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	17.10%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	19.06%	+1.95%

Dividends

ED vs. FUTY - Dividend Comparison

ED's dividend yield for the trailing twelve months is around 3.33%, more than FUTY's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ED Consolidated Edison, Inc.	3.33%	3.42%	3.72%	3.56%	3.32%	3.63%	4.23%	3.27%	3.74%	3.25%	3.64%	4.05%
FUTY Fidelity MSCI Utilities Index ETF	2.63%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both ED and FUTY in my portfolio?

ED and FUTY have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ED or FUTY?

FUTY has higher volatility (5.64%) compared to ED (5.44%). In terms of maximum drawdown, ED dropped -78.90% vs FUTY's -36.44%.

Which has better risk-adjusted returns?

FUTY currently has the higher Sharpe Ratio (0.74 vs 0.37), 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.