FDFF vs. TFNS

Last updated Jun 24, 2026

FDFF (Fidelity Disruptive Finance ETF) and TFNS (T. Rowe Price Financials ETF) are both Financials Equities funds. Both are actively managed. Over the past year, FDFF returned -10.47% vs 11.45% for TFNS. A 0.78 correlation means they provide meaningful diversification when combined. FDFF charges 0.50%/yr vs 0.44%/yr for TFNS.

Performance

FDFF vs. TFNS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Disruptive Finance ETF (FDFF) and T. Rowe Price Financials ETF (TFNS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDFF achieves a -7.76% return, which is significantly lower than TFNS's 0.45% return.

FDFF

• 1D: -0.70%
• 1M: -1.05%
• YTD: -7.76%
• 6M: -9.14%
• 1Y: -10.47%
• 3Y*: 10.23%
• 5Y*: —
• 10Y*: —

TFNS

• 1D: 0.34%
• 1M: 4.00%
• YTD: 0.45%
• 6M: -0.86%
• 1Y: 11.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDFF vs. TFNS - Yearly Performance Comparison

	2026 (YTD)	2025
FDFF Fidelity Disruptive Finance ETF	-7.76%	-5.53%
TFNS T. Rowe Price Financials ETF	0.45%	11.06%

Correlation

The correlation between FDFF and TFNS is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.78

The correlation between FDFF and TFNS has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

FDFF vs. TFNS - Sectors Allocation Comparison

Sectors	FDFF	TFNS
Financial Services	75.4%	96.9%
Technology	18.8%	2.0%
Industrials	4.2%	1.1%
Real Estate	0.8%	-
Consumer Cyclical	0.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Utilities	-	-

Return for Risk

FDFF vs. TFNS — Risk / Return Rank

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

FDFF

FDFF Risk / Return Rank: 5
FDFF Sharpe Ratio Rank: 4
FDFF Sortino Ratio Rank: 4
FDFF Omega Ratio Rank: 4
FDFF Calmar Ratio Rank: 5
FDFF Martin Ratio Rank: 5

TFNS

TFNS Risk / Return Rank: 21
TFNS Sharpe Ratio Rank: 23
TFNS Sortino Ratio Rank: 21
TFNS Omega Ratio Rank: 21
TFNS Calmar Ratio Rank: 20
TFNS Martin Ratio Rank: 20

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.

FDFF vs. TFNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Disruptive Finance ETF (FDFF) and T. Rowe Price Financials ETF (TFNS). 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.

	FDFF	TFNS	Difference
Sharpe ratio: Return per unit of total volatility	-0.57	0.77	-1.34
Sortino ratio: Return per unit of downside risk	-0.68	1.12	-1.81
Omega ratio: Gain probability vs. loss probability	0.92	1.14	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.47	0.82	-1.29
Martin ratio: Return relative to average drawdown	-0.92	2.21	-3.13

FDFF vs. TFNS - Sharpe Ratio Comparison

The current FDFF Sharpe Ratio is -0.57, which is lower than the TFNS Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of FDFF and TFNS, 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

FDFF vs. TFNS - Drawdown Comparison

The maximum FDFF drawdown since its inception was -23.06%, which is greater than TFNS's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for FDFF and TFNS.

Drawdown Indicators

	FDFF	TFNS	Difference
Max Drawdown Largest peak-to-trough decline	-23.06%	-14.00%	-9.06%
Max Drawdown (1Y) Largest decline over 1 year	-22.31%	-14.00%	-8.31%
Max Drawdown (3Y) Largest decline over 3 years	-23.06%	—	—
Current Drawdown Current decline from peak	-16.23%	-2.36%	-13.87%
Average Drawdown Average peak-to-trough decline	-6.49%	-3.82%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.41%	5.19%	+6.22%

Volatility

FDFF vs. TFNS - Volatility Comparison

Fidelity Disruptive Finance ETF (FDFF) has a higher volatility of 5.51% compared to T. Rowe Price Financials ETF (TFNS) at 4.03%. This indicates that FDFF's price experiences larger fluctuations and is considered to be riskier than TFNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDFF	TFNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	4.03%	+1.48%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	11.45%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	15.00%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	15.06%	+3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.00%	15.06%	+3.94%

FDFF vs. TFNS - Expense Ratio Comparison

FDFF has a 0.50% expense ratio, which is higher than TFNS's 0.44% expense ratio.

Dividends

FDFF vs. TFNS - Dividend Comparison

FDFF's dividend yield for the trailing twelve months is around 1.07%, more than TFNS's 0.49% yield.

Position	TTM	2025	2024	2023
FDFF Fidelity Disruptive Finance ETF	1.07%	0.86%	0.70%	0.27%
TFNS T. Rowe Price Financials ETF	0.49%	0.49%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDFF and TFNS in my portfolio?

FDFF and TFNS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDFF or TFNS?

FDFF has higher volatility (5.51%) compared to TFNS (4.03%). In terms of maximum drawdown, FDFF dropped -23.06% vs TFNS's -14.00%.

Which ETF is better, FDFF or TFNS?

On 1-year performance, TFNS leads with 11.45% vs -10.47% for FDFF. On fees, TFNS is cheaper at 0.44% per year. On volatility, TFNS has been the lower-risk option at 4.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDFF or TFNS?

Over the 1-year period, TFNS has performed better with a 11.45% return vs -10.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDFF or TFNS?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.50% for FDFF.

Which ETF pays a higher dividend yield, FDFF or TFNS?

FDFF has the higher dividend yield at 1.07%, compared with 0.49% for TFNS.

What is the main difference between FDFF and TFNS?

They also come from different issuers: Fidelity and T. Rowe Price. Their fees differ too: 0.50% for FDFF and 0.44% for TFNS.

Which has better risk-adjusted returns?

TFNS currently has the higher Sharpe Ratio (0.77 vs -0.57), 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.