FDEV vs. FUTY

Last updated Jun 3, 2026

FDEV (Fidelity International Multifactor ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FDEV is a Foreign Large Cap Equities fund tracking the Fidelity Targeted International Factor Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 5 years, FDEV returned 7.33%/yr vs 9.22%/yr for FUTY. At a 0.43 correlation, their price movements are largely independent. FDEV charges 0.39%/yr vs 0.08%/yr for FUTY.

Performance

FDEV vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Multifactor ETF (FDEV) and Fidelity MSCI Utilities Index ETF (FUTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDEV achieves a 4.41% return, which is significantly higher than FUTY's 3.78% return.

FDEV

• 1D: 0.22%
• 1M: -2.26%
• YTD: 4.41%
• 6M: 7.53%
• 1Y: 13.97%
• 3Y*: 14.89%
• 5Y*: 7.33%
• 10Y*: —

FUTY

• 1D: 1.99%
• 1M: -5.15%
• YTD: 3.78%
• 6M: 1.50%
• 1Y: 10.45%
• 3Y*: 13.84%
• 5Y*: 9.22%
• 10Y*: 9.09%

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

FDEV vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FDEV Fidelity International Multifactor ETF	4.41%	30.36%	5.84%	13.37%	-16.54%	11.00%	5.49%	10.06%
FUTY Fidelity MSCI Utilities Index ETF	3.78%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	15.98%

Correlation

The correlation between FDEV and FUTY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Mar 1, 2019	0.43

The correlation between FDEV and FUTY shifts across timeframes, from 0.32 (1 year) to 0.43 (all time), reflecting how their relationship changes across market environments.

FDEV vs. FUTY - Sectors Allocation Comparison

Sectors	FDEV	FUTY
Financial Services	21.9%	-
Industrials	15.9%	0.2%
Healthcare	13.3%	-
Energy	10.8%	0.5%
Consumer Defensive	9.5%	-
Utilities	8.1%	99.2%
Communication Services	7.2%	-
Consumer Cyclical	4.5%	-
Basic Materials	4.1%	-
Technology	3.7%	-
Real Estate	-	-

Return for Risk

FDEV vs. FUTY — Risk / Return Rank

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

FDEV

FDEV Risk / Return Rank: 35
FDEV Sharpe Ratio Rank: 33
FDEV Sortino Ratio Rank: 31
FDEV Omega Ratio Rank: 32
FDEV Calmar Ratio Rank: 37
FDEV Martin Ratio Rank: 43

FUTY

FUTY Risk / Return Rank: 22
FUTY Sharpe Ratio Rank: 22
FUTY Sortino Ratio Rank: 20
FUTY Omega Ratio Rank: 21
FUTY Calmar Ratio Rank: 25
FUTY Martin Ratio Rank: 22

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.

FDEV vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Multifactor ETF (FDEV) and Fidelity MSCI Utilities Index ETF (FUTY). 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.

	FDEV	FUTY	Difference
Sharpe ratio Return per unit of total volatility	1.18	0.73	+0.45
Sortino ratio Return per unit of downside risk	1.68	1.07	+0.61
Omega ratio Gain probability vs. loss probability	1.22	1.13	+0.08
Calmar ratio Return relative to maximum drawdown	1.83	1.20	+0.62
Martin ratio Return relative to average drawdown	6.99	2.73	+4.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEV vs. FUTY - Sharpe Ratio Comparison

The current FDEV Sharpe Ratio is 1.18, which is higher than the FUTY Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of FDEV and FUTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDEV	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	0.73	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.54	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.55	-0.03

Drawdowns

FDEV vs. FUTY - Drawdown Comparison

The maximum FDEV drawdown since its inception was -30.11%, smaller than the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FDEV and FUTY.

Drawdown Indicators

	FDEV	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-30.11%	-36.44%	+6.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.46%	-8.93%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-10.47%	-17.35%	+6.88%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	-25.11%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	-4.30%	-6.72%	+2.42%
Average Drawdown Average peak-to-trough decline	-6.29%	-6.03%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	3.95%	-1.74%

Volatility

FDEV vs. FUTY - Volatility Comparison

The current volatility for Fidelity International Multifactor ETF (FDEV) is 3.72%, while Fidelity MSCI Utilities Index ETF (FUTY) has a volatility of 5.44%. This indicates that FDEV experiences smaller price fluctuations and is considered to be less risky than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDEV	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	5.44%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	11.59%	-1.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	14.32%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	17.08%	-3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.33%	19.05%	-3.72%

FDEV vs. FUTY - Expense Ratio Comparison

FDEV has a 0.39% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

FDEV vs. FUTY - Dividend Comparison

FDEV's dividend yield for the trailing twelve months is around 2.81%, more than FUTY's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDEV Fidelity International Multifactor ETF	2.81%	2.86%	2.99%	2.80%	2.65%	2.81%	1.88%	2.73%	0.00%	0.00%	0.00%	0.00%
FUTY Fidelity MSCI Utilities Index ETF	2.60%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both FDEV and FUTY in my portfolio?

FDEV and FUTY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDEV or FUTY?

FUTY has higher volatility (5.44%) compared to FDEV (3.72%). In terms of maximum drawdown, FDEV dropped -30.11% vs FUTY's -36.44%.

Which ETF is better, FDEV or FUTY?

On 5-year performance, FUTY leads with 9.22% vs 7.33% for FDEV. On fees, FUTY is cheaper at 0.08% per year. On volatility, FDEV has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDEV or FUTY?

Over the 5-year period, FUTY has performed better with a 9.22% return vs 7.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDEV or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.39% for FDEV.

Which ETF pays a higher dividend yield, FDEV or FUTY?

FDEV has the higher dividend yield at 2.81%, compared with 2.60% for FUTY.

What is the main difference between FDEV and FUTY?

FDEV is categorized as Foreign Large Cap Equities, while FUTY is Utilities Equities. FDEV tracks Fidelity Targeted International Factor Index, while FUTY tracks MSCI USA IMI Utilities Index. Their fees differ too: 0.39% for FDEV and 0.08% for FUTY.

Which has better risk-adjusted returns?

FDEV currently has the higher Sharpe Ratio (1.18 vs 0.73), 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.