FDRR vs. MFUS

Last updated Jun 4, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - FDRR tracks the Fidelity Dividend Index for Rising Rates while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, FDRR returned 12.34%/yr vs 12.82%/yr for MFUS. Their correlation of 0.90 suggests significant overlap in exposure. FDRR charges 0.29%/yr vs 0.30%/yr for MFUS.

Performance

FDRR vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDRR achieves a 10.01% return, which is significantly lower than MFUS's 16.37% return.

FDRR

• 1D: -0.99%
• 1M: 6.39%
• YTD: 10.01%
• 6M: 10.38%
• 1Y: 31.27%
• 3Y*: 21.03%
• 5Y*: 12.34%
• 10Y*: —

MFUS

• 1D: 0.03%
• 1M: 5.72%
• YTD: 16.37%
• 6M: 16.58%
• 1Y: 28.04%
• 3Y*: 22.25%
• 5Y*: 12.82%
• 10Y*: —

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

FDRR vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	10.01%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	9.09%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	16.37%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	26.17%	-7.30%	11.20%

Correlation

The correlation between FDRR and MFUS is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.90

The correlation between FDRR and MFUS shifts across timeframes, from 0.79 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

FDRR vs. MFUS - Sectors Allocation Comparison

Sectors	FDRR	MFUS
Technology	34.5%	21.8%
Financial Services	12.0%	12.6%
Communication Services	10.7%	5.3%
Healthcare	9.4%	13.5%
Consumer Cyclical	8.7%	10.6%
Industrials	8.7%	12.6%
Consumer Defensive	4.8%	10.3%
Energy	3.6%	7.0%
Real Estate	2.9%	1.8%
Utilities	2.4%	1.7%
Basic Materials	2.2%	2.8%

Return for Risk

FDRR vs. MFUS — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 82
FDRR Sharpe Ratio Rank: 85
FDRR Sortino Ratio Rank: 86
FDRR Omega Ratio Rank: 84
FDRR Calmar Ratio Rank: 73
FDRR Martin Ratio Rank: 79

MFUS

MFUS Risk / Return Rank: 82
MFUS Sharpe Ratio Rank: 80
MFUS Sortino Ratio Rank: 83
MFUS Omega Ratio Rank: 78
MFUS Calmar Ratio Rank: 83
MFUS Martin Ratio Rank: 86

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.

FDRR vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

	FDRR	MFUS	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.63	+0.22
Sortino ratio: Return per unit of downside risk	3.96	3.77	+0.19
Omega ratio: Gain probability vs. loss probability	1.52	1.47	+0.05
Calmar ratio: Return relative to maximum drawdown	3.69	4.41	-0.72
Martin ratio: Return relative to average drawdown	15.70	18.13	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDRR vs. MFUS - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.85, which is comparable to the MFUS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of FDRR and MFUS, 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

	FDRR	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	2.63	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.86	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.79	+0.02

Drawdowns

FDRR vs. MFUS - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, roughly equal to the maximum MFUS drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for FDRR and MFUS.

Drawdown Indicators

	FDRR	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-35.21%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-6.39%	-2.13%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-15.39%	-2.65%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-18.22%	-2.70%
Current Drawdown Current decline from peak	-1.15%	0.00%	-1.15%
Average Drawdown Average peak-to-trough decline	-4.00%	-4.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.55%	+0.45%

Volatility

FDRR vs. MFUS - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) have volatilities of 3.08% and 3.19%, 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

	FDRR	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.19%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	8.31%	8.22%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	10.72%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.00%	15.03%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.88%	17.35%	-0.47%

FDRR vs. MFUS - Expense Ratio Comparison

FDRR has a 0.29% expense ratio, which is lower than MFUS's 0.30% expense ratio.

Dividends

FDRR vs. MFUS - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.10%, more than MFUS's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDRR Fidelity Dividend ETF for Rising Rates	2.10%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.36%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%	0.00%

Frequently Asked Questions

Can I hold both FDRR and MFUS in my portfolio?

FDRR and MFUS have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or MFUS?

MFUS has higher volatility (3.19%) compared to FDRR (3.08%). In terms of maximum drawdown, FDRR dropped -36.52% vs MFUS's -35.21%.

Which ETF is better, FDRR or MFUS?

On 5-year performance, MFUS leads with 12.82% vs 12.34% for FDRR. On fees, FDRR is cheaper at 0.29% per year. On volatility, FDRR has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or MFUS?

Over the 5-year period, MFUS has performed better with a 12.82% return vs 12.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or MFUS?

FDRR is cheaper with a 0.29% expense ratio, compared with 0.30% for MFUS.

Which ETF pays a higher dividend yield, FDRR or MFUS?

FDRR has the higher dividend yield at 2.10%, compared with 1.36% for MFUS.

What is the main difference between FDRR and MFUS?

FDRR tracks Fidelity Dividend Index for Rising Rates, while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. They also come from different issuers: Fidelity and PIMCO. Their fees differ too: 0.29% for FDRR and 0.30% for MFUS.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.85 vs 2.63), 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.