EKWAX vs. FUTY

Last updated Jun 3, 2026

EKWAX (Allspring Precious Metals Fund) and FUTY (Fidelity MSCI Utilities Index ETF) are both funds - EKWAX is a Precious Metals fund managed by Allspring Global Investments, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Over the past 10 years, EKWAX returned 14.90%/yr vs 9.09%/yr for FUTY. At a 0.21 correlation, their price movements are largely independent. EKWAX charges 1.09%/yr vs 0.08%/yr for FUTY.

Performance

EKWAX vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Precious Metals Fund (EKWAX) 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, EKWAX achieves a 1.63% return, which is significantly lower than FUTY's 3.78% return. Over the past 10 years, EKWAX has outperformed FUTY with an annualized return of 14.90%, while FUTY has yielded a comparatively lower 9.09% annualized return.

EKWAX

• 1D: -3.44%
• 1M: -0.36%
• YTD: 1.63%
• 6M: 9.01%
• 1Y: 65.94%
• 3Y*: 46.59%
• 5Y*: 22.61%
• 10Y*: 14.90%

FUTY

• 1D: 1.99%
• 1M: -5.15%
• YTD: 3.78%
• 6M: 1.50%
• 1Y: 10.45%
• 3Y*: 13.84%
• 5Y*: 9.22%
• 10Y*: 9.09%

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

EKWAX vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EKWAX Allspring Precious Metals Fund	1.63%	163.65%	21.28%	8.83%	-7.75%	-11.00%	24.40%	40.35%	-12.83%	9.66%
FUTY Fidelity MSCI Utilities Index ETF	3.78%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Correlation

The correlation between EKWAX and FUTY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.21

Return for Risk

EKWAX vs. FUTY — Risk / Return Rank

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

EKWAX

EKWAX Risk / Return Rank: 33
EKWAX Sharpe Ratio Rank: 35
EKWAX Sortino Ratio Rank: 24
EKWAX Omega Ratio Rank: 31
EKWAX Calmar Ratio Rank: 46
EKWAX Martin Ratio Rank: 28

FUTY

FUTY Risk / Return Rank: 22
FUTY Sharpe Ratio Rank: 22
FUTY Sortino Ratio Rank: 20
FUTY Omega Ratio Rank: 21
FUTY Calmar Ratio Rank: 25
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.

EKWAX vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Precious Metals Fund (EKWAX) 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.

	EKWAX	FUTY	Difference
Sharpe ratio Return per unit of total volatility	1.73	0.73	+0.99
Sortino ratio Return per unit of downside risk	2.09	1.07	+1.01
Omega ratio Gain probability vs. loss probability	1.30	1.13	+0.16
Calmar ratio Return relative to maximum drawdown	2.63	1.20	+1.43
Martin ratio Return relative to average drawdown	6.91	2.73	+4.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EKWAX vs. FUTY - Sharpe Ratio Comparison

The current EKWAX Sharpe Ratio is 1.73, which is higher than the FUTY Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of EKWAX 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

	EKWAX	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	0.73	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.54	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.48	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.55	-0.23

Drawdowns

EKWAX vs. FUTY - Drawdown Comparison

The maximum EKWAX drawdown since its inception was -76.76%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for EKWAX and FUTY.

Drawdown Indicators

	EKWAX	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-76.76%	-36.44%	-40.32%
Max Drawdown (1Y) Largest decline over 1 year	-29.03%	-8.93%	-20.10%
Max Drawdown (3Y) Largest decline over 3 years	-29.03%	-17.35%	-11.68%
Max Drawdown (5Y) Largest decline over 5 years	-42.79%	-25.11%	-17.68%
Max Drawdown (10Y) Largest decline over 10 years	-49.23%	-36.44%	-12.79%
Current Drawdown Current decline from peak	-24.42%	-6.72%	-17.70%
Average Drawdown Average peak-to-trough decline	-32.77%	-6.03%	-26.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.06%	3.95%	+7.11%

Volatility

EKWAX vs. FUTY - Volatility Comparison

Allspring Precious Metals Fund (EKWAX) has a higher volatility of 14.99% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 5.44%. This indicates that EKWAX's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EKWAX	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.99%	5.44%	+9.55%
Volatility (6M) Calculated over the trailing 6-month period	35.71%	11.59%	+24.12%
Volatility (1Y) Calculated over the trailing 1-year period	43.77%	14.32%	+29.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.48%	17.08%	+16.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.21%	19.05%	+14.16%

EKWAX vs. FUTY - Expense Ratio Comparison

EKWAX has a 1.09% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

EKWAX vs. FUTY - Dividend Comparison

EKWAX's dividend yield for the trailing twelve months is around 1.18%, less than FUTY's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EKWAX Allspring Precious Metals Fund	1.18%	1.19%	0.84%	0.00%	2.01%	1.35%	1.45%	0.11%	0.00%	1.34%	1.11%	0.00%
FUTY Fidelity MSCI Utilities Index ETF	2.60%	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 EKWAX and FUTY in my portfolio?

EKWAX and FUTY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EKWAX or FUTY?

EKWAX has higher volatility (14.99%) compared to FUTY (5.44%). In terms of maximum drawdown, EKWAX dropped -76.76% vs FUTY's -36.44%.

Which has better risk-adjusted returns?

EKWAX currently has the higher Sharpe Ratio (1.73 vs 0.73), 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.