FDHY vs. FUTY

Last updated Jun 5, 2026

FDHY (Fidelity High Yield Factor ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FDHY is a High Yield Bonds fund actively managed by Fidelity, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. FDHY is actively managed, while FUTY is passively managed. Over the past 5 years, FDHY returned 3.98%/yr vs 9.26%/yr for FUTY. At a 0.34 correlation, their price movements are largely independent. FDHY charges 0.45%/yr vs 0.08%/yr for FUTY.

Performance

FDHY vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity High Yield Factor ETF (FDHY) 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, FDHY achieves a 2.12% return, which is significantly lower than FUTY's 3.78% return.

FDHY

• 1D: -0.04%
• 1M: 0.24%
• YTD: 2.12%
• 6M: 2.92%
• 1Y: 8.25%
• 3Y*: 8.78%
• 5Y*: 3.98%
• 10Y*: —

FUTY

• 1D: 0.60%
• 1M: -4.86%
• YTD: 3.78%
• 6M: 1.95%
• 1Y: 12.10%
• 3Y*: 13.73%
• 5Y*: 9.26%
• 10Y*: 9.10%

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

FDHY vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDHY Fidelity High Yield Factor ETF	2.12%	9.24%	7.53%	11.14%	-11.30%	4.33%	10.71%	16.87%	-2.14%
FUTY Fidelity MSCI Utilities Index ETF	3.78%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	8.86%

Correlation

The correlation between FDHY and FUTY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jun 15, 2018	0.34

The correlation between FDHY and FUTY shifts across timeframes, from 0.24 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

FDHY vs. FUTY - Sectors Allocation Comparison

Sectors	FDHY	FUTY
Energy	100.0%	0.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	-
Utilities	-	99.2%

Return for Risk

FDHY vs. FUTY — Risk / Return Rank

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

FDHY

FDHY Risk / Return Rank: 79
FDHY Sharpe Ratio Rank: 73
FDHY Sortino Ratio Rank: 81
FDHY Omega Ratio Rank: 80
FDHY Calmar Ratio Rank: 78
FDHY Martin Ratio Rank: 83

FUTY

FUTY Risk / Return Rank: 25
FUTY Sharpe Ratio Rank: 25
FUTY Sortino Ratio Rank: 24
FUTY Omega Ratio Rank: 24
FUTY Calmar Ratio Rank: 29
FUTY Martin Ratio Rank: 24

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.

FDHY vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity High Yield Factor ETF (FDHY) 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.

	FDHY	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	2.33	0.85	+1.47
Sortino ratio: Return per unit of downside risk	3.58	1.23	+2.35
Omega ratio: Gain probability vs. loss probability	1.47	1.15	+0.32
Calmar ratio: Return relative to maximum drawdown	3.90	1.36	+2.54
Martin ratio: Return relative to average drawdown	16.61	3.05	+13.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDHY vs. FUTY - Sharpe Ratio Comparison

The current FDHY Sharpe Ratio is 2.33, which is higher than the FUTY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FDHY 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

	FDHY	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	0.85	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.54	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.55	+0.16

Drawdowns

FDHY vs. FUTY - Drawdown Comparison

The maximum FDHY drawdown since its inception was -20.01%, smaller than the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FDHY and FUTY.

Drawdown Indicators

	FDHY	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-20.01%	-36.44%	+16.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.12%	-8.93%	+6.81%
Max Drawdown (3Y) Largest decline over 3 years	-5.26%	-17.35%	+12.09%
Max Drawdown (5Y) Largest decline over 5 years	-16.38%	-25.11%	+8.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	-0.28%	-6.72%	+6.44%
Average Drawdown Average peak-to-trough decline	-2.87%	-6.03%	+3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	3.98%	-3.48%

Volatility

FDHY vs. FUTY - Volatility Comparison

The current volatility for Fidelity High Yield Factor ETF (FDHY) is 1.21%, while Fidelity MSCI Utilities Index ETF (FUTY) has a volatility of 5.52%. This indicates that FDHY 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

	FDHY	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	5.52%	-4.31%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	11.38%	-8.64%
Volatility (1Y) Calculated over the trailing 1-year period	3.56%	14.34%	-10.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.13%	17.08%	-9.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.05%	19.05%	-11.00%

FDHY vs. FUTY - Expense Ratio Comparison

FDHY has a 0.45% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

FDHY vs. FUTY - Dividend Comparison

FDHY's dividend yield for the trailing twelve months is around 6.53%, more than FUTY's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDHY Fidelity High Yield Factor ETF	6.53%	6.56%	6.58%	6.26%	5.34%	6.09%	5.78%	4.94%	2.55%	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 FDHY and FUTY in my portfolio?

FDHY and FUTY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDHY or FUTY?

FUTY has higher volatility (5.52%) compared to FDHY (1.21%). In terms of maximum drawdown, FDHY dropped -20.01% vs FUTY's -36.44%.

Which ETF is better, FDHY or FUTY?

On 5-year performance, FUTY leads with 9.26% vs 3.98% for FDHY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FDHY has been the lower-risk option at 1.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDHY or FUTY?

Over the 5-year period, FUTY has performed better with a 9.26% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDHY or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.45% for FDHY.

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

FDHY has the higher dividend yield at 6.53%, compared with 2.60% for FUTY.

What is the main difference between FDHY and FUTY?

FDHY is categorized as High Yield Bonds, while FUTY is Utilities Equities. Their fees differ too: 0.45% for FDHY and 0.08% for FUTY.

Which has better risk-adjusted returns?

FDHY currently has the higher Sharpe Ratio (2.33 vs 0.85), 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.