FCOM vs. FNCL

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity MSCI Communication Services Index ETF (FCOM) and Fidelity MSCI Financials Index ETF (FNCL).

FCOM and FNCL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCOM is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Telecommunication Services 25/50 Index. It was launched on Oct 21, 2013. FNCL is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Financials Index. It was launched on Oct 21, 2013. Both FCOM and FNCL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCOM vs. FNCL - Performance Comparison

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

FCOM vs. FNCL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCOM Fidelity MSCI Communication Services Index ETF	-6.81%	26.06%	33.05%	44.65%	-38.97%	13.88%	28.33%	26.69%	-5.33%	8.20%
FNCL Fidelity MSCI Financials Index ETF	-9.17%	14.94%	30.44%	14.10%	-12.28%	34.92%	-2.19%	31.59%	-13.44%	19.99%

Returns By Period

In the year-to-date period, FCOM achieves a -6.81% return, which is significantly higher than FNCL's -9.17% return. Over the past 10 years, FCOM has underperformed FNCL with an annualized return of 11.00%, while FNCL has yielded a comparatively higher 12.25% annualized return.

FCOM

• 1D: 3.51%
• 1M: -6.10%
• YTD: -6.81%
• 6M: -3.57%
• 1Y: 22.27%
• 3Y*: 24.17%
• 5Y*: 7.26%
• 10Y*: 11.00%

FNCL

• 1D: 2.23%
• 1M: -3.42%
• YTD: -9.17%
• 6M: -7.18%
• 1Y: 2.69%
• 3Y*: 17.96%
• 5Y*: 9.30%
• 10Y*: 12.25%

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

FCOM vs. FNCL - Expense Ratio Comparison

Both FCOM and FNCL have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

FCOM

Fidelity MSCI Communication Services Index ETF

FNCL

Fidelity MSCI Financials Index ETF

Return for Risk

FCOM vs. FNCL — Risk / Return Rank

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

FCOM

FCOM Risk / Return Rank: 68
FCOM Sharpe Ratio Rank: 66
FCOM Sortino Ratio Rank: 71
FCOM Omega Ratio Rank: 67
FCOM Calmar Ratio Rank: 69
FCOM Martin Ratio Rank: 67

FNCL

FNCL Risk / Return Rank: 17
FNCL Sharpe Ratio Rank: 16
FNCL Sortino Ratio Rank: 15
FNCL Omega Ratio Rank: 16
FNCL Calmar Ratio Rank: 18
FNCL 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.

FCOM vs. FNCL - Risk-Adjusted Trends Comparison

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

	FCOM	FNCL	Difference
Sharpe ratio Return per unit of total volatility	1.10	0.14	+0.97
Sortino ratio Return per unit of downside risk	1.71	0.32	+1.40
Omega ratio Gain probability vs. loss probability	1.23	1.05	+0.19
Calmar ratio Return relative to maximum drawdown	1.69	0.26	+1.42
Martin ratio Return relative to average drawdown	6.27	0.79	+5.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCOM vs. FNCL - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 1.10, which is higher than the FNCL Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of FCOM and FNCL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCOM	FNCL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	0.14	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.48	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.55	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.52	+0.03

Correlation

The correlation between FCOM and FNCL is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FCOM vs. FNCL - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 1.00%, less than FNCL's 1.75% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	1.00%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
FNCL Fidelity MSCI Financials Index ETF	1.75%	1.45%	1.52%	1.91%	2.29%	1.75%	2.26%	2.17%	2.37%	1.60%	1.81%	2.17%

Drawdowns

FCOM vs. FNCL - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, which is greater than FNCL's maximum drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for FCOM and FNCL.

Drawdown Indicators

	FCOM	FNCL	Difference
Max Drawdown Largest peak-to-trough decline	-46.76%	-44.38%	-2.38%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-14.78%	+1.30%
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	-25.68%	-21.08%
Max Drawdown (10Y) Largest decline over 10 years	-46.76%	-44.38%	-2.38%
Current Drawdown Current decline from peak	-9.92%	-11.94%	+2.02%
Average Drawdown Average peak-to-trough decline	-8.74%	-6.89%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	4.92%	-1.29%

Volatility

FCOM vs. FNCL - Volatility Comparison

Fidelity MSCI Communication Services Index ETF (FCOM) has a higher volatility of 6.37% compared to Fidelity MSCI Financials Index ETF (FNCL) at 4.88%. This indicates that FCOM's price experiences larger fluctuations and is considered to be riskier than FNCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCOM	FNCL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	4.88%	+1.49%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	11.75%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	20.29%	20.02%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.21%	19.34%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.94%	22.35%	-1.41%