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FCOM vs. XLC
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCOM vs. XLC

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity MSCI Communication Services Index ETF (FCOM) and Communication Services Select Sector SPDR Fund (XLC).

FCOM and XLC 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. XLC is a passively managed fund by State Street that tracks the performance of the S&P Communication Services Select Sector Index. It was launched on Jun 18, 2018. Both FCOM and XLC 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. XLC - Performance Comparison

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

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FCOM vs. XLC - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FCOM
Fidelity MSCI Communication Services Index ETF		-6.81%26.06%33.05%44.65%-38.97%13.88%28.33%26.69%-0.43%
XLC
Communication Services Select Sector SPDR Fund		-5.53%23.08%34.71%52.82%-37.63%15.96%26.90%31.05%-16.88%

Returns By Period

In the year-to-date period, FCOM achieves a -6.81% return, which is significantly lower than XLC's -5.53% 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%

XLC

1D
2.69%
1M
-5.79%
YTD
-5.53%
6M
-5.74%
1Y
16.36%
3Y*
25.49%
5Y*
9.35%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Fidelity MSCI Communication Services Index ETF

Communication Services Select Sector SPDR Fund

Often compared with FCOM:
FCOM vs. VOXFCOM vs. FBMPXFCOM vs. FTECFCOM vs. IXPFCOM vs. FNCLFCOM vs. VOOFCOM vs. FDCF
Often compared with XLC:
XLC vs. VOXXLC vs. SPYXLC vs. XLFXLC vs. XTLXLC vs. IXPXLC vs. GXLC.LXLC vs. VOO

FCOM vs. XLC - Expense Ratio Comparison

FCOM has a 0.08% expense ratio, which is lower than XLC's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XLC
Communication Services Select Sector SPDR Fund
FCOM
Fidelity MSCI Communication Services Index ETF

Return for Risk

FCOM vs. XLC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCOM
FCOM Risk / Return Rank: 6868
Overall Rank
FCOM Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
FCOM Sortino Ratio Rank: 7171
Sortino Ratio Rank
FCOM Omega Ratio Rank: 6767
Omega Ratio Rank
FCOM Calmar Ratio Rank: 6969
Calmar Ratio Rank
FCOM Martin Ratio Rank: 6767
Martin Ratio Rank
XLC
XLC Risk / Return Rank: 5858
Overall Rank
XLC Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
XLC Sortino Ratio Rank: 5858
Sortino Ratio Rank
XLC Omega Ratio Rank: 5555
Omega Ratio Rank
XLC Calmar Ratio Rank: 6565
Calmar Ratio Rank
XLC Martin Ratio Rank: 5858
Martin Ratio Rank
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. XLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) and Communication Services Select Sector SPDR Fund (XLC). 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.

FCOMXLCDifference

Sharpe ratio

Return per unit of total volatility

1.10

0.90

+0.20

Sortino ratio

Return per unit of downside risk

1.71

1.40

+0.31

Omega ratio

Gain probability vs. loss probability

1.23

1.19

+0.04

Calmar ratio

Return relative to maximum drawdown

1.69

1.56

+0.13

Martin ratio

Return relative to average drawdown

6.27

5.30

+0.97

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. XLC - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 1.10, which is comparable to the XLC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FCOM and XLC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCOMXLCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.10

0.90

+0.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

0.45

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.53

+0.02

Correlation

The correlation between FCOM and XLC is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCOM vs. XLC - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 1.00%, less than XLC's 1.26% yield.

TTM20252024202320222021202020192018201720162015
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%
XLC
Communication Services Select Sector SPDR Fund		1.26%1.13%0.99%0.82%1.10%0.74%0.68%0.82%0.64%0.00%0.00%0.00%

Drawdowns

FCOM vs. XLC - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, roughly equal to the maximum XLC drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for FCOM and XLC.

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Drawdown Indicators

FCOMXLCDifference

Max Drawdown

Largest peak-to-trough decline

-46.76%

-46.65%

-0.11%

Max Drawdown (1Y)

Largest decline over 1 year

-13.48%

-11.07%

-2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-46.76%

-46.65%

-0.11%

Max Drawdown (10Y)

Largest decline over 10 years

-46.76%

—

—

Current Drawdown

Current decline from peak

-9.92%

-7.38%

-2.54%

Average Drawdown

Average peak-to-trough decline

-8.74%

-10.76%

+2.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.63%

3.25%

+0.38%

Volatility

FCOM vs. XLC - Volatility Comparison

Fidelity MSCI Communication Services Index ETF (FCOM) has a higher volatility of 6.37% compared to Communication Services Select Sector SPDR Fund (XLC) at 5.12%. This indicates that FCOM's price experiences larger fluctuations and is considered to be riskier than XLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FCOMXLCDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.37%

5.12%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

11.59%

9.76%

+1.83%

Volatility (1Y)

Calculated over the trailing 1-year period

20.29%

18.30%

+1.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.21%

20.77%

+0.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.94%

22.37%

-1.43%