FIDU vs. IWL

Last updated Jun 9, 2026

FIDU (Fidelity MSCI Industrials Index ETF) and IWL (iShares Russell Top 200 ETF) are both exchange-traded funds - FIDU is a Industrials Equities fund tracking the MSCI USA IMI Industrials Index, while IWL is a Large Cap Growth Equities fund tracking the Russell Top 200 Index. Both are passively managed. Over the past 10 years, FIDU returned 14.15%/yr vs 16.17%/yr for IWL. A 0.79 correlation means they provide meaningful diversification when combined. FIDU charges 0.08%/yr vs 0.15%/yr for IWL.

Performance

FIDU vs. IWL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Industrials Index ETF (FIDU) and iShares Russell Top 200 ETF (IWL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIDU achieves a 14.14% return, which is significantly higher than IWL's 7.88% return. Over the past 10 years, FIDU has underperformed IWL with an annualized return of 14.15%, while IWL has yielded a comparatively higher 16.17% annualized return.

FIDU

• 1D: -0.27%
• 1M: -0.01%
• YTD: 14.14%
• 6M: 14.45%
• 1Y: 24.81%
• 3Y*: 21.68%
• 5Y*: 12.89%
• 10Y*: 14.15%

IWL

• 1D: 0.40%
• 1M: 0.22%
• YTD: 7.88%
• 6M: 7.94%
• 1Y: 25.27%
• 3Y*: 22.49%
• 5Y*: 14.18%
• 10Y*: 16.17%

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

FIDU vs. IWL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDU Fidelity MSCI Industrials Index ETF	14.14%	18.61%	16.51%	22.62%	-8.36%	20.96%	13.72%	30.69%	-13.85%	22.22%
IWL iShares Russell Top 200 ETF	7.88%	19.09%	27.12%	29.77%	-19.89%	27.79%	22.10%	31.42%	-3.30%	22.90%

Correlation

The correlation between FIDU and IWL is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.79

The correlation between FIDU and IWL shifts across timeframes, from 0.66 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

FIDU vs. IWL - Sectors Allocation Comparison

Sectors	FIDU	IWL
Industrials	92.1%	6.8%
Technology	6.4%	38.2%
Consumer Cyclical	1.0%	10.0%
Basic Materials	0.2%	1.4%
Financial Services	0.2%	12.0%
Utilities	0.1%	1.3%
Communication Services	0.0%	12.9%
Energy	0.0%	2.7%
Healthcare	0.0%	8.8%
Consumer Defensive	-	5.0%
Real Estate	-	1.0%

Return for Risk

FIDU vs. IWL — Risk / Return Rank

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

FIDU

FIDU Risk / Return Rank: 48
FIDU Sharpe Ratio Rank: 48
FIDU Sortino Ratio Rank: 49
FIDU Omega Ratio Rank: 45
FIDU Calmar Ratio Rank: 45
FIDU Martin Ratio Rank: 53

IWL

IWL Risk / Return Rank: 66
IWL Sharpe Ratio Rank: 69
IWL Sortino Ratio Rank: 66
IWL Omega Ratio Rank: 68
IWL Calmar Ratio Rank: 58
IWL Martin Ratio Rank: 68

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.

FIDU vs. IWL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Industrials Index ETF (FIDU) and iShares Russell Top 200 ETF (IWL). 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.

	FIDU	IWL	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.03	-0.53
Sortino ratio: Return per unit of downside risk	2.20	2.73	-0.54
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio: Return relative to maximum drawdown	2.04	2.58	-0.55
Martin ratio: Return relative to average drawdown	8.40	11.38	-2.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIDU vs. IWL - Sharpe Ratio Comparison

The current FIDU Sharpe Ratio is 1.51, which is comparable to the IWL Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FIDU and IWL, 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

	FIDU	IWL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	2.03	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.83	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.90	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.87	-0.22

Drawdowns

FIDU vs. IWL - Drawdown Comparison

The maximum FIDU drawdown since its inception was -42.31%, which is greater than IWL's maximum drawdown of -32.71%. Use the drawdown chart below to compare losses from any high point for FIDU and IWL.

Drawdown Indicators

	FIDU	IWL	Difference
Max Drawdown Largest peak-to-trough decline	-42.31%	-32.71%	-9.60%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-9.83%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-20.52%	-19.15%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	-22.87%	-25.65%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-42.31%	-32.71%	-9.60%
Current Drawdown Current decline from peak	-1.95%	-2.76%	+0.81%
Average Drawdown Average peak-to-trough decline	-4.80%	-3.88%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.23%	+0.73%

Volatility

FIDU vs. IWL - Volatility Comparison

Fidelity MSCI Industrials Index ETF (FIDU) has a higher volatility of 4.59% compared to iShares Russell Top 200 ETF (IWL) at 3.99%. This indicates that FIDU's price experiences larger fluctuations and is considered to be riskier than IWL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIDU	IWL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	3.99%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	9.60%	+4.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.59%	12.50%	+4.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	17.21%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.32%	18.11%	+2.21%

FIDU vs. IWL - Expense Ratio Comparison

FIDU has a 0.08% expense ratio, which is lower than IWL's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FIDU vs. IWL - Dividend Comparison

FIDU's dividend yield for the trailing twelve months is around 0.96%, more than IWL's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDU Fidelity MSCI Industrials Index ETF	0.96%	1.02%	1.42%	1.42%	1.48%	1.12%	1.28%	1.73%	1.99%	1.60%	1.63%	1.98%
IWL iShares Russell Top 200 ETF	0.84%	0.90%	1.04%	1.30%	1.54%	1.12%	1.30%	1.96%	1.93%	1.69%	1.96%	2.14%

Frequently Asked Questions

Can I hold both FIDU and IWL in my portfolio?

FIDU and IWL have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIDU or IWL?

FIDU has higher volatility (4.59%) compared to IWL (3.99%). In terms of maximum drawdown, FIDU dropped -42.31% vs IWL's -32.71%.

Which ETF is better, FIDU or IWL?

On 10-year performance, IWL leads with 16.17% vs 14.15% for FIDU. On fees, FIDU is cheaper at 0.08% per year. On volatility, IWL has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIDU or IWL?

Over the 10-year period, IWL has performed better with a 16.17% return vs 14.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIDU or IWL?

FIDU is cheaper with a 0.08% expense ratio, compared with 0.15% for IWL.

Which ETF pays a higher dividend yield, FIDU or IWL?

FIDU has the higher dividend yield at 0.96%, compared with 0.84% for IWL.

What is the main difference between FIDU and IWL?

FIDU is categorized as Industrials Equities, while IWL is Large Cap Growth Equities. FIDU tracks MSCI USA IMI Industrials Index, while IWL tracks Russell Top 200 Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.08% for FIDU and 0.15% for IWL.

Which has better risk-adjusted returns?

IWL currently has the higher Sharpe Ratio (2.03 vs 1.51), 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.