FFEM vs. FUTY

Last updated Jun 5, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FFEM is a Emerging Markets Diversified fund managed by Fidelity, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Over the past year, FFEM returned 63.82% vs 12.10% for FUTY. At a 0.23 correlation, their price movements are largely independent. FFEM charges 0.60%/yr vs 0.08%/yr for FUTY.

Performance

FFEM vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) 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, FFEM achieves a 31.03% return, which is significantly higher than FUTY's 3.78% return.

FFEM

• 1D: -1.53%
• 1M: 5.68%
• YTD: 31.03%
• 6M: 34.56%
• 1Y: 63.82%
• 3Y*: —
• 5Y*: —
• 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)

FFEM vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	31.03%	40.03%	-2.27%
FUTY Fidelity MSCI Utilities Index ETF	3.78%	16.40%	-6.68%

Correlation

The correlation between FFEM and FUTY is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.23

Return for Risk

FFEM vs. FUTY — Risk / Return Rank

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

FFEM

FFEM Risk / Return Rank: 87
FFEM Sharpe Ratio Rank: 89
FFEM Sortino Ratio Rank: 85
FFEM Omega Ratio Rank: 87
FFEM Calmar Ratio Rank: 86
FFEM Martin Ratio Rank: 88

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.

FFEM vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) 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.

	FFEM	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	2.97	0.85	+2.11
Sortino ratio: Return per unit of downside risk	3.77	1.23	+2.53
Omega ratio: Gain probability vs. loss probability	1.53	1.15	+0.37
Calmar ratio: Return relative to maximum drawdown	4.73	1.36	+3.36
Martin ratio: Return relative to average drawdown	18.77	3.05	+15.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFEM vs. FUTY - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 2.97, which is higher than the FUTY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FFEM 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

	FFEM	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	0.85	+2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	0.55	+1.58

Drawdowns

FFEM vs. FUTY - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, smaller than the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FFEM and FUTY.

Drawdown Indicators

	FFEM	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-16.29%	-36.44%	+20.15%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-8.93%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	-3.06%	-6.72%	+3.66%
Average Drawdown Average peak-to-trough decline	-2.41%	-6.03%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.98%	-0.57%

Volatility

FFEM vs. FUTY - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 9.04% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 5.52%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	5.52%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	18.86%	11.38%	+7.48%
Volatility (1Y) Calculated over the trailing 1-year period	21.63%	14.34%	+7.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.04%	17.08%	+4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.04%	19.05%	+2.99%

FFEM vs. FUTY - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

FFEM vs. FUTY - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.24%, less than FUTY's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFEM Fidelity Fundamental Emerging Markets ETF	1.24%	1.59%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	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 FFEM and FUTY in my portfolio?

FFEM and FUTY have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFEM or FUTY?

FFEM has higher volatility (9.04%) compared to FUTY (5.52%). In terms of maximum drawdown, FFEM dropped -16.29% vs FUTY's -36.44%.

Which ETF is better, FFEM or FUTY?

On 1-year performance, FFEM leads with 63.82% vs 12.10% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEM or FUTY?

Over the 1-year period, FFEM has performed better with a 63.82% return vs 12.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEM or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.60% for FFEM.

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

FUTY has the higher dividend yield at 2.60%, compared with 1.24% for FFEM.

What is the main difference between FFEM and FUTY?

FFEM is categorized as Emerging Markets Diversified, while FUTY is Utilities Equities. Their fees differ too: 0.60% for FFEM and 0.08% for FUTY.

Which has better risk-adjusted returns?

FFEM currently has the higher Sharpe Ratio (2.97 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.