FMET vs. DVXC

Last updated Jun 3, 2026

FMET (Fidelity Metaverse ETF) and DVXC (WEBs Communication Services XLC Defined Volatility ETF) are both Communications Equities funds. FMET is actively managed, while DVXC is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. FMET charges 0.39%/yr vs 0.89%/yr for DVXC.

Performance

FMET vs. DVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Metaverse ETF (FMET) and WEBs Communication Services XLC Defined Volatility ETF (DVXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMET achieves a 11.46% return, which is significantly higher than DVXC's -11.14% return.

FMET

• 1D: 0.18%
• 1M: 9.41%
• YTD: 11.46%
• 6M: 11.72%
• 1Y: 30.24%
• 3Y*: 17.27%
• 5Y*: —
• 10Y*: —

DVXC

• 1D: -3.67%
• 1M: -5.95%
• YTD: -11.14%
• 6M: -7.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMET vs. DVXC - Yearly Performance Comparison

	2026 (YTD)	2025
FMET Fidelity Metaverse ETF	11.46%	3.32%
DVXC WEBs Communication Services XLC Defined Volatility ETF	-11.14%	14.81%

Correlation

The correlation between FMET and DVXC is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.55

Return for Risk

FMET vs. DVXC — Risk / Return Rank

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

FMET

FMET Risk / Return Rank: 36
FMET Sharpe Ratio Rank: 44
FMET Sortino Ratio Rank: 42
FMET Omega Ratio Rank: 43
FMET Calmar Ratio Rank: 28
FMET Martin Ratio Rank: 26

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.

FMET vs. DVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and WEBs Communication Services XLC Defined Volatility ETF (DVXC). 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.

	FMET	DVXC	Difference
Sharpe ratio Return per unit of total volatility	1.56	—	—
Sortino ratio Return per unit of downside risk	2.16	—	—
Omega ratio Gain probability vs. loss probability	1.28	—	—
Calmar ratio Return relative to maximum drawdown	1.39	—	—
Martin ratio Return relative to average drawdown	3.70	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FMET	DVXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.09	+0.47

Drawdowns

FMET vs. DVXC - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.22%, which is greater than DVXC's maximum drawdown of -21.52%. Use the drawdown chart below to compare losses from any high point for FMET and DVXC.

Drawdown Indicators

	FMET	DVXC	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-21.52%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.02%	—	—
Current Drawdown Current decline from peak	0.00%	-14.50%	+14.50%
Average Drawdown Average peak-to-trough decline	-7.48%	-6.86%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.63%	—	—

Volatility

Volatility by Period

	FMET	DVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	25.97%	-6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.20%	25.97%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.20%	25.97%	-1.77%

FMET vs. DVXC - Expense Ratio Comparison

FMET has a 0.39% expense ratio, which is lower than DVXC's 0.89% expense ratio.

Dividends

FMET vs. DVXC - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.50%, while DVXC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DVXC WEBs Communication Services XLC Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%
FMET Fidelity Metaverse ETF	0.50%	0.81%	0.44%	0.40%	0.18%

Frequently Asked Questions

Can I hold both FMET and DVXC in my portfolio?

FMET and DVXC have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FMET or DVXC?

On fees, FMET is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMET or DVXC?

FMET is cheaper with a 0.39% expense ratio, compared with 0.89% for DVXC.

Which ETF pays a higher dividend yield, FMET or DVXC?

FMET has the higher dividend yield at 0.50%, compared with 0.00% for DVXC.

What is the main difference between FMET and DVXC?

They also come from different issuers: Fidelity and WEBs. Their fees differ too: 0.39% for FMET and 0.89% for DVXC.