FCOM vs. OUSA

Last updated Aug 4, 2026

FCOM (Fidelity MSCI Communication Services Index ETF) and OUSA (OShares U.S. Quality Dividend 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 OUSA is a Quality Factor fund tracking the O'Shares US Quality Dividend Index. Both are passively managed. Over the past 10 years, FCOM returned 11.07%/yr vs 10.40%/yr for OUSA. Their 0.68 correlation means they have sometimes moved together and sometimes differently. FCOM charges 0.08%/yr vs 0.48%/yr for OUSA.

Performance

FCOM vs. OUSA - Performance Comparison

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

Returns By Period

In the year-to-date period, FCOM achieves a -2.54% return, which is significantly lower than OUSA's 7.09% return. Over the past 10 years, FCOM has outperformed OUSA with an annualized return of 11.07%, while OUSA has yielded a comparatively lower 10.40% annualized return.

FCOM

• 1D: 3.50%
• 1M: 0.35%
• 6M: -5.04%
• YTD: -2.54%
• 1Y: 10.42%
• 3Y*: 20.93%
• 5Y*: 6.41%
• 10Y*: 11.07%
• ALL TIME*: 10.88%

OUSA

• 1D: 0.53%
• 1M: 2.40%
• 6M: 3.84%
• YTD: 7.09%
• 1Y: 16.21%
• 3Y*: 13.56%
• 5Y*: 8.96%
• 10Y*: 10.40%
• ALL TIME*: 10.73%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCOM Fidelity MSCI Communication Services Index ETF	$19.70M	$14.75M	$13.31M
OUSA OShares U.S. Quality Dividend ETF	$872.37K	$1.31M	$1.44M

FCOM vs. OUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCOM Fidelity MSCI Communication Services Index ETF	-2.54%	26.06%	33.05%	44.65%	-38.97%	13.88%	28.33%	26.69%	-5.33%	8.20%
OUSA OShares U.S. Quality Dividend ETF	7.09%	10.23%	17.09%	13.44%	-9.33%	23.75%	6.96%	25.03%	-3.11%	18.81%

Correlation

The correlation between FCOM and OUSA is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (10Y) Provides a long-term view across more market conditions.	0.66
Correlation (All Time) Calculated using the full available price history since Jul 14, 2015	0.68

The correlation between FCOM and OUSA shifts across timeframes, from 0.55 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

FCOM vs. OUSA - Sectors Allocation Comparison

Sectors	FCOM	OUSA
Communication Services	89.6%	10.3%
Technology	8.0%	23.7%
Industrials	1.7%	11.9%
Consumer Cyclical	0.2%	13.1%
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	7.4%
Energy	-	-
Financial Services	-	18.6%
Healthcare	-	15.1%
Utilities	-	-

Return for Risk

FCOM vs. OUSA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCOM

FCOM Risk / Return Rank: 26
FCOM Sharpe Ratio Rank: 26
FCOM Sortino Ratio Rank: 26
FCOM Omega Ratio Rank: 25
FCOM Calmar Ratio Rank: 25
FCOM Martin Ratio Rank: 28

OUSA

OUSA Risk / Return Rank: 62
OUSA Sharpe Ratio Rank: 67
OUSA Sortino Ratio Rank: 72
OUSA Omega Ratio Rank: 65
OUSA Calmar Ratio Rank: 53
OUSA Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCOM vs. OUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) and OShares U.S. Quality Dividend ETF (OUSA). 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	OUSA	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.59	-0.98
Sortino ratio: Return per unit of downside risk	0.98	2.41	-1.43
Omega ratio: Gain probability vs. loss probability	1.12	1.28	-0.17
Calmar ratio: Return relative to maximum drawdown	0.78	1.95	-1.17
Martin ratio: Return relative to average drawdown	2.32	6.80	-4.48

FCOM vs. OUSA - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 0.61, which is lower than the OUSA Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FCOM and OUSA, 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. OUSA - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, which is greater than OUSA's maximum drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for FCOM and OUSA.

Drawdown Indicators

	FCOM	OUSA	Difference
Max Drawdown Largest peak-to-trough decline	-46.76%	-33.12%	-13.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-8.36%	-5.12%
Max Drawdown (3Y) Largest decline over 3 years	-21.16%	-13.14%	-8.02%
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	-19.54%	-27.22%
Max Drawdown (10Y) Largest decline over 10 years	-46.76%	-33.12%	-13.64%
Current Drawdown Current decline from peak	-5.80%	-0.23%	-5.57%
Average Drawdown Average peak-to-trough decline	-8.64%	-3.50%	-5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	2.39%	+2.12%

Volatility

FCOM vs. OUSA - Volatility Comparison

Fidelity MSCI Communication Services Index ETF (FCOM) has a higher volatility of 7.50% compared to OShares U.S. Quality Dividend ETF (OUSA) at 3.65%. This indicates that FCOM's price experiences larger fluctuations and is considered to be riskier than OUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCOM	OUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	3.65%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	13.77%	8.12%	+5.65%
Volatility (1Y) Calculated over the trailing 1-year period	17.20%	10.25%	+6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	13.38%	+8.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.10%	15.19%	+5.91%

FCOM vs. OUSA - Expense Ratio Comparison

FCOM has a 0.08% expense ratio, which is lower than OUSA's 0.48% expense ratio.

Dividends

FCOM vs. OUSA - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 0.99%, less than OUSA's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	0.99%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
OUSA OShares U.S. Quality Dividend ETF	1.35%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both FCOM and OUSA in my portfolio?

FCOM and OUSA 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, FCOM or OUSA?

FCOM has higher volatility (7.50%) compared to OUSA (3.65%). In terms of maximum drawdown, FCOM dropped -46.76% vs OUSA's -33.12%.

Which ETF is better, FCOM or OUSA?

On 10-year performance, FCOM leads with 11.07% vs 10.40% for OUSA. On fees, FCOM is cheaper at 0.08% per year. On volatility, OUSA has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCOM or OUSA?

Over the 10-year period, FCOM has performed better with a 11.07% return vs 10.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCOM or OUSA?

FCOM is cheaper with a 0.08% expense ratio, compared with 0.48% for OUSA.

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

OUSA has the higher dividend yield at 1.35%, compared with 0.99% for FCOM.

What is the main difference between FCOM and OUSA?

FCOM is categorized as Large Cap Growth Equities, while OUSA is Quality Factor. FCOM tracks MSCI USA IMI Communication Services 25/50 Index, while OUSA tracks O'Shares US Quality Dividend Index. They also come from different issuers: Fidelity and O'Shares Investments. Their fees differ too: 0.08% for FCOM and 0.48% for OUSA.

Which has better risk-adjusted returns?

OUSA currently has the higher Sharpe Ratio (1.59 vs 0.61), 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.