FCOM vs. FDCF

Last updated Jun 23, 2026

FCOM (Fidelity MSCI Communication Services Index ETF) and FDCF (Fidelity Disruptive Communications ETF) are both exchange-traded funds - FCOM is a Large Cap Growth Equities fund tracking the MSCI USA IMI Communication Services 25/50 Index, while FDCF is a Communications Equities fund actively managed by Fidelity. FCOM is passively managed, while FDCF is actively managed. Over the past 3 years, FCOM returned 21.45%/yr vs 25.42%/yr for FDCF. A 0.80 correlation means they provide meaningful diversification when combined. FCOM charges 0.08%/yr vs 0.50%/yr for FDCF.

Performance

FCOM vs. FDCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Communication Services Index ETF (FCOM) and Fidelity Disruptive Communications ETF (FDCF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCOM achieves a -5.77% return, which is significantly lower than FDCF's 2.31% return.

FCOM

• 1D: -2.39%
• 1M: -6.74%
• YTD: -5.77%
• 6M: -5.33%
• 1Y: 13.24%
• 3Y*: 21.45%
• 5Y*: 6.01%
• 10Y*: 11.05%

FDCF

• 1D: -1.53%
• 1M: -0.46%
• YTD: 2.31%
• 6M: 2.81%
• 1Y: 17.89%
• 3Y*: 25.42%
• 5Y*: —
• 10Y*: —

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

FCOM vs. FDCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FCOM Fidelity MSCI Communication Services Index ETF	-5.77%	26.06%	33.05%	14.26%
FDCF Fidelity Disruptive Communications ETF	2.31%	27.42%	28.37%	17.50%

Correlation

The correlation between FCOM and FDCF is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.80

The correlation between FCOM and FDCF has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

FCOM vs. FDCF - Sectors Allocation Comparison

Sectors	FCOM	FDCF
Communication Services	98.0%	44.7%
Technology	1.7%	42.9%
Consumer Cyclical	0.2%	10.7%
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	1.6%
Utilities	-	-

Return for Risk

FCOM vs. FDCF — Risk / Return Rank

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

FCOM

FCOM Risk / Return Rank: 24
FCOM Sharpe Ratio Rank: 25
FCOM Sortino Ratio Rank: 24
FCOM Omega Ratio Rank: 23
FCOM Calmar Ratio Rank: 22
FCOM Martin Ratio Rank: 26

FDCF

FDCF Risk / Return Rank: 24
FDCF Sharpe Ratio Rank: 27
FDCF Sortino Ratio Rank: 25
FDCF Omega Ratio Rank: 25
FDCF Calmar Ratio Rank: 22
FDCF Martin Ratio Rank: 24

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.

FCOM vs. FDCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) and Fidelity Disruptive Communications ETF (FDCF). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FCOM	FDCF	Difference
Sharpe ratio: Return per unit of total volatility	0.84	0.94	-0.09
Sortino ratio: Return per unit of downside risk	1.29	1.35	-0.06
Omega ratio: Gain probability vs. loss probability	1.16	1.17	-0.01
Calmar ratio: Return relative to maximum drawdown	0.99	0.99	-0.01
Martin ratio: Return relative to average drawdown	3.50	2.96	+0.54

FCOM vs. FDCF - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 0.84, which is comparable to the FDCF Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FCOM and FDCF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCOM vs. FDCF - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, which is greater than FDCF's maximum drawdown of -22.53%. Use the drawdown chart below to compare losses from any high point for FCOM and FDCF.

Drawdown Indicators

	FCOM	FDCF	Difference
Max Drawdown Largest peak-to-trough decline	-46.76%	-22.53%	-24.23%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-18.10%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-21.16%	-22.53%	+1.37%
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.76%	—	—
Current Drawdown Current decline from peak	-8.91%	-4.97%	-3.94%
Average Drawdown Average peak-to-trough decline	-8.65%	-4.17%	-4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	6.06%	-2.26%

Volatility

FCOM vs. FDCF - Volatility Comparison

The current volatility for Fidelity MSCI Communication Services Index ETF (FCOM) is 5.56%, while Fidelity Disruptive Communications ETF (FDCF) has a volatility of 7.13%. This indicates that FCOM experiences smaller price fluctuations and is considered to be less risky than FDCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCOM	FDCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	7.13%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	11.87%	15.00%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	15.79%	19.21%	-3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.27%	20.72%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	20.72%	+0.29%

FCOM vs. FDCF - Expense Ratio Comparison

FCOM has a 0.08% expense ratio, which is lower than FDCF's 0.50% expense ratio.

Dividends

FCOM vs. FDCF - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 1.02%, more than FDCF's 0.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	1.02%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
FDCF Fidelity Disruptive Communications ETF	0.07%	0.09%	0.25%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCOM and FDCF in my portfolio?

FCOM and FDCF have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCOM or FDCF?

FDCF has higher volatility (7.13%) compared to FCOM (5.56%). In terms of maximum drawdown, FCOM dropped -46.76% vs FDCF's -22.53%.

Which ETF is better, FCOM or FDCF?

On 3-year performance, FDCF leads with 25.42% vs 21.45% for FCOM. On fees, FCOM is cheaper at 0.08% per year. On volatility, FCOM has been the lower-risk option at 5.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCOM or FDCF?

Over the 3-year period, FDCF has performed better with a 25.42% return vs 21.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCOM or FDCF?

FCOM is cheaper with a 0.08% expense ratio, compared with 0.50% for FDCF.

Which ETF pays a higher dividend yield, FCOM or FDCF?

FCOM has the higher dividend yield at 1.02%, compared with 0.07% for FDCF.

What is the main difference between FCOM and FDCF?

FCOM is categorized as Large Cap Growth Equities, while FDCF is Communications Equities. Their fees differ too: 0.08% for FCOM and 0.50% for FDCF.

Which has better risk-adjusted returns?

FDCF currently has the higher Sharpe Ratio (0.94 vs 0.84), 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.