FCOM vs. XLI

Last updated Jun 13, 2026

FCOM (Fidelity MSCI Communication Services Index ETF) and XLI (Industrial Select Sector SPDR Fund) are both exchange-traded funds - FCOM is a Large Cap Growth Equities fund tracking the MSCI USA IMI Telecommunication Services 25/50 Index, while XLI is a Industrials Equities fund tracking the Industrial Select Sector Index. Both are passively managed. Over the past 10 years, FCOM returned 11.60%/yr vs 14.15%/yr for XLI. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

FCOM vs. XLI - Performance Comparison

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

Returns By Period

In the year-to-date period, FCOM achieves a -3.17% return, which is significantly lower than XLI's 13.90% return. Over the past 10 years, FCOM has underperformed XLI with an annualized return of 11.60%, while XLI has yielded a comparatively higher 14.15% annualized return.

FCOM

• 1D: 0.08%
• 1M: -4.97%
• YTD: -3.17%
• 6M: -1.90%
• 1Y: 14.88%
• 3Y*: 22.19%
• 5Y*: 6.79%
• 10Y*: 11.60%

XLI

• 1D: 0.59%
• 1M: 1.47%
• YTD: 13.90%
• 6M: 13.10%
• 1Y: 24.12%
• 3Y*: 20.87%
• 5Y*: 12.93%
• 10Y*: 14.15%

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

FCOM vs. XLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCOM Fidelity MSCI Communication Services Index ETF	-3.17%	26.06%	33.05%	44.65%	-38.97%	13.88%	28.33%	26.69%	-5.33%	8.20%
XLI Industrial Select Sector SPDR Fund	13.90%	19.35%	17.31%	18.13%	-5.57%	21.08%	10.91%	29.08%	-13.25%	23.98%

Correlation

The correlation between FCOM and XLI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.58

The correlation between FCOM and XLI shifts across timeframes, from 0.46 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

FCOM vs. XLI - Sectors Allocation Comparison

Sectors	FCOM	XLI
Communication Services	98.5%	-
Technology	1.2%	4.0%
Consumer Cyclical	0.3%	0.5%
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	90.7%
Utilities	-	4.8%

Return for Risk

FCOM vs. XLI — Risk / Return Rank

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

FCOM

FCOM Risk / Return Rank: 30
FCOM Sharpe Ratio Rank: 30
FCOM Sortino Ratio Rank: 31
FCOM Omega Ratio Rank: 29
FCOM Calmar Ratio Rank: 26
FCOM Martin Ratio Rank: 31

XLI

XLI Risk / Return Rank: 48
XLI Sharpe Ratio Rank: 49
XLI Sortino Ratio Rank: 50
XLI Omega Ratio Rank: 46
XLI Calmar Ratio Rank: 45
XLI Martin Ratio Rank: 52

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. XLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Communication Services Index ETF (FCOM) and Industrial Select Sector SPDR Fund (XLI). 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	XLI	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.50	-0.53
Sortino ratio: Return per unit of downside risk	1.49	2.17	-0.68
Omega ratio: Gain probability vs. loss probability	1.18	1.26	-0.08
Calmar ratio: Return relative to maximum drawdown	1.11	1.98	-0.87
Martin ratio: Return relative to average drawdown	4.05	7.82	-3.76

FCOM vs. XLI - Sharpe Ratio Comparison

The current FCOM Sharpe Ratio is 0.97, which is lower than the XLI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FCOM and XLI, 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. XLI - Drawdown Comparison

The maximum FCOM drawdown since its inception was -46.76%, smaller than the maximum XLI drawdown of -62.26%. Use the drawdown chart below to compare losses from any high point for FCOM and XLI.

Drawdown Indicators

	FCOM	XLI	Difference
Max Drawdown Largest peak-to-trough decline	-46.76%	-62.26%	+15.50%
Max Drawdown (1Y) Largest decline over 1 year	-13.48%	-12.21%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-21.16%	-18.49%	-2.67%
Max Drawdown (5Y) Largest decline over 5 years	-46.76%	-21.64%	-25.12%
Max Drawdown (10Y) Largest decline over 10 years	-46.76%	-42.33%	-4.43%
Current Drawdown Current decline from peak	-6.40%	-1.24%	-5.16%
Average Drawdown Average peak-to-trough decline	-8.66%	-9.20%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.09%	+0.59%

Volatility

FCOM vs. XLI - Volatility Comparison

The current volatility for Fidelity MSCI Communication Services Index ETF (FCOM) is 4.08%, while Industrial Select Sector SPDR Fund (XLI) has a volatility of 6.22%. This indicates that FCOM experiences smaller price fluctuations and is considered to be less risky than XLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCOM	XLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	6.22%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	11.19%	13.59%	-2.40%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	16.17%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.19%	17.55%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.96%	20.04%	+0.92%

FCOM vs. XLI - Expense Ratio Comparison

Both FCOM and XLI 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%.

Dividends

FCOM vs. XLI - Dividend Comparison

FCOM's dividend yield for the trailing twelve months is around 0.96%, less than XLI's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	0.96%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
XLI Industrial Select Sector SPDR Fund	1.16%	1.29%	1.44%	1.63%	1.63%	1.25%	1.55%	1.94%	2.15%	1.77%	2.07%	2.15%

Frequently Asked Questions

Can I hold both FCOM and XLI in my portfolio?

FCOM and XLI have a correlation of 0.46, 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 XLI?

XLI has higher volatility (6.22%) compared to FCOM (4.08%). In terms of maximum drawdown, FCOM dropped -46.76% vs XLI's -62.26%.

Which ETF is better, FCOM or XLI?

On 10-year performance, XLI leads with 14.15% vs 11.60% for FCOM. Both ETFs have the same 0.08% expense ratio. On volatility, FCOM has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCOM or XLI?

Over the 10-year period, XLI has performed better with a 14.15% return vs 11.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCOM or XLI?

FCOM and XLI have the same expense ratio: 0.08% per year.

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

XLI has the higher dividend yield at 1.16%, compared with 0.96% for FCOM.

What is the main difference between FCOM and XLI?

FCOM is categorized as Large Cap Growth Equities, while XLI is Industrials Equities. FCOM tracks MSCI USA IMI Telecommunication Services 25/50 Index, while XLI tracks Industrial Select Sector Index. They also come from different issuers: Fidelity and State Street.

Which has better risk-adjusted returns?

XLI currently has the higher Sharpe Ratio (1.50 vs 0.97), 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.