FDIS vs. CLIX

Last updated Jun 4, 2026

FDIS (Fidelity MSCI Consumer Discretionary Index ETF) and CLIX (ProShares Long Online/Short Stores ETF) are both exchange-traded funds - FDIS is a Consumer Discretionary Equities fund tracking the MSCI USA IMI Consumer Discretionary Index, while CLIX is a Long-Short fund tracking the ProShares Long Online/Short Stores Index. Both are passively managed. Over the past 5 years, FDIS returned 6.19%/yr vs -6.40%/yr for CLIX. A 0.62 correlation means they provide meaningful diversification when combined. FDIS charges 0.08%/yr vs 0.65%/yr for CLIX.

Performance

FDIS vs. CLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and ProShares Long Online/Short Stores ETF (CLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIS achieves a -0.65% return, which is significantly higher than CLIX's -6.21% return.

FDIS

• 1D: -0.72%
• 1M: -0.07%
• YTD: -0.65%
• 6M: -0.87%
• 1Y: 9.82%
• 3Y*: 15.08%
• 5Y*: 6.19%
• 10Y*: 13.68%

CLIX

• 1D: -2.35%
• 1M: -6.73%
• YTD: -6.21%
• 6M: -6.37%
• 1Y: 12.94%
• 3Y*: 18.92%
• 5Y*: -6.40%
• 10Y*: —

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

FDIS vs. CLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDIS Fidelity MSCI Consumer Discretionary Index ETF	-0.65%	5.67%	24.43%	40.48%	-35.23%	24.25%	49.50%	27.44%	-0.88%	6.43%
CLIX ProShares Long Online/Short Stores ETF	-6.21%	32.81%	20.73%	28.97%	-46.73%	-39.96%	90.91%	17.32%	6.34%	-2.09%

Correlation

The correlation between FDIS and CLIX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017	0.62

The correlation between FDIS and CLIX has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

FDIS vs. CLIX - Sectors Allocation Comparison

Sectors	FDIS	CLIX
Consumer Cyclical	96.9%	94.8%
Consumer Defensive	1.0%	1.6%
Technology	0.9%	3.6%
Industrials	0.8%	-
Communication Services	0.2%	-
Healthcare	0.1%	-
Financial Services	0.1%	-
Real Estate	0.1%	-
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

FDIS vs. CLIX — Risk / Return Rank

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

FDIS

FDIS Risk / Return Rank: 17
FDIS Sharpe Ratio Rank: 17
FDIS Sortino Ratio Rank: 17
FDIS Omega Ratio Rank: 16
FDIS Calmar Ratio Rank: 17
FDIS Martin Ratio Rank: 18

CLIX

CLIX Risk / Return Rank: 18
CLIX Sharpe Ratio Rank: 19
CLIX Sortino Ratio Rank: 18
CLIX Omega Ratio Rank: 18
CLIX Calmar Ratio Rank: 17
CLIX Martin Ratio Rank: 18

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.

FDIS vs. CLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and ProShares Long Online/Short Stores ETF (CLIX). 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.

	FDIS	CLIX	Difference
Sharpe ratio Return per unit of total volatility	0.54	0.62	-0.08
Sortino ratio Return per unit of downside risk	0.88	0.97	-0.10
Omega ratio Gain probability vs. loss probability	1.10	1.12	-0.01
Calmar ratio Return relative to maximum drawdown	0.64	0.66	-0.03
Martin ratio Return relative to average drawdown	2.00	1.81	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDIS vs. CLIX - Sharpe Ratio Comparison

The current FDIS Sharpe Ratio is 0.54, which is comparable to the CLIX Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of FDIS and CLIX, 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

	FDIS	CLIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	0.62	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	-0.24	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.17	+0.44

Drawdowns

FDIS vs. CLIX - Drawdown Comparison

The maximum FDIS drawdown since its inception was -39.16%, smaller than the maximum CLIX drawdown of -73.21%. Use the drawdown chart below to compare losses from any high point for FDIS and CLIX.

Drawdown Indicators

	FDIS	CLIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.16%	-73.21%	+34.05%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-19.57%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-27.43%	-21.18%	-6.25%
Max Drawdown (5Y) Largest decline over 5 years	-39.16%	-68.22%	+29.06%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	—	—
Current Drawdown Current decline from peak	-5.22%	-44.59%	+39.37%
Average Drawdown Average peak-to-trough decline	-7.50%	-34.70%	+27.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.93%	7.15%	-2.22%

Volatility

FDIS vs. CLIX - Volatility Comparison

Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and ProShares Long Online/Short Stores ETF (CLIX) have volatilities of 5.20% and 5.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIS	CLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	5.08%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	15.59%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	18.37%	20.89%	-2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.87%	26.94%	-3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	25.92%	-3.63%

FDIS vs. CLIX - Expense Ratio Comparison

FDIS has a 0.08% expense ratio, which is lower than CLIX's 0.65% expense ratio.

Dividends

FDIS vs. CLIX - Dividend Comparison

FDIS's dividend yield for the trailing twelve months is around 0.73%, more than CLIX's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLIX ProShares Long Online/Short Stores ETF	0.57%	0.46%	0.46%	0.00%	0.00%	0.00%	1.33%	0.00%	0.00%	0.00%	0.00%	0.00%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.73%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%

Frequently Asked Questions

Can I hold both FDIS and CLIX in my portfolio?

FDIS and CLIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIS or CLIX?

FDIS has higher volatility (5.20%) compared to CLIX (5.08%). In terms of maximum drawdown, FDIS dropped -39.16% vs CLIX's -73.21%.

Which ETF is better, FDIS or CLIX?

On 5-year performance, FDIS leads with 6.19% vs -6.40% for CLIX. On fees, FDIS is cheaper at 0.08% per year. On volatility, CLIX has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIS or CLIX?

Over the 5-year period, FDIS has performed better with a 6.19% return vs -6.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIS or CLIX?

FDIS is cheaper with a 0.08% expense ratio, compared with 0.65% for CLIX.

Which ETF pays a higher dividend yield, FDIS or CLIX?

FDIS has the higher dividend yield at 0.73%, compared with 0.57% for CLIX.

What is the main difference between FDIS and CLIX?

FDIS is categorized as Consumer Discretionary Equities, while CLIX is Long-Short. FDIS tracks MSCI USA IMI Consumer Discretionary Index, while CLIX tracks ProShares Long Online/Short Stores Index. They also come from different issuers: Fidelity and ProShares. Their fees differ too: 0.08% for FDIS and 0.65% for CLIX.

Which has better risk-adjusted returns?

CLIX currently has the higher Sharpe Ratio (0.62 vs 0.54), 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.