FMET vs. IYZ

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Metaverse ETF (FMET) and iShares U.S. Telecommunications ETF (IYZ).

FMET and IYZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMET is an actively managed fund by Fidelity. It was launched on Apr 19, 2022. IYZ is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Telecommunications Index. It was launched on May 22, 2000.

Performance

FMET vs. IYZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Metaverse ETF (FMET) and iShares U.S. Telecommunications ETF (IYZ). The values are adjusted to include any dividend payments, if applicable.

FMET vs. IYZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	-12.10%	21.93%	6.76%	39.18%	-16.56%
IYZ iShares U.S. Telecommunications ETF	16.87%	29.28%	20.53%	3.90%	-21.95%

Returns By Period

In the year-to-date period, FMET achieves a -12.10% return, which is significantly lower than IYZ's 16.87% return.

FMET

• 1D: 0.72%
• 1M: -4.50%
• YTD: -12.10%
• 6M: -15.78%
• 1Y: 13.47%
• 3Y*: 10.78%
• 5Y*: —
• 10Y*: —

IYZ

• 1D: 0.38%
• 1M: -1.44%
• YTD: 16.87%
• 6M: 22.58%
• 1Y: 46.59%
• 3Y*: 22.07%
• 5Y*: 6.25%
• 10Y*: 4.93%

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

FMET vs. IYZ - Expense Ratio Comparison

FMET has a 0.39% expense ratio, which is lower than IYZ's 0.42% expense ratio.

IYZ

iShares U.S. Telecommunications ETF

FMET

Fidelity Metaverse ETF

Return for Risk

FMET vs. IYZ — Risk / Return Rank

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

FMET

FMET Risk / Return Rank: 28
FMET Sharpe Ratio Rank: 28
FMET Sortino Ratio Rank: 31
FMET Omega Ratio Rank: 30
FMET Calmar Ratio Rank: 26
FMET Martin Ratio Rank: 24

IYZ

IYZ Risk / Return Rank: 95
IYZ Sharpe Ratio Rank: 95
IYZ Sortino Ratio Rank: 95
IYZ Omega Ratio Rank: 94
IYZ Calmar Ratio Rank: 95
IYZ Martin Ratio Rank: 96

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. IYZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and iShares U.S. Telecommunications ETF (IYZ). 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	IYZ	Difference
Sharpe ratio Return per unit of total volatility	0.55	2.51	-1.95
Sortino ratio Return per unit of downside risk	0.98	3.14	-2.16
Omega ratio Gain probability vs. loss probability	1.13	1.45	-0.32
Calmar ratio Return relative to maximum drawdown	0.64	4.23	-3.59
Martin ratio Return relative to average drawdown	1.84	18.54	-16.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMET vs. IYZ - Sharpe Ratio Comparison

The current FMET Sharpe Ratio is 0.55, which is lower than the IYZ Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of FMET and IYZ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMET	IYZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	2.51	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.05	+0.26

Correlation

The correlation between FMET and IYZ is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FMET vs. IYZ - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.63%, less than IYZ's 1.70% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMET Fidelity Metaverse ETF	0.63%	0.81%	0.44%	0.40%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IYZ iShares U.S. Telecommunications ETF	1.70%	2.04%	1.94%	2.27%	2.55%	2.51%	2.60%	2.36%	2.15%	3.54%	2.27%	1.98%

Drawdowns

FMET vs. IYZ - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.22%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for FMET and IYZ.

Drawdown Indicators

	FMET	IYZ	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-77.11%	+47.89%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-11.12%	-11.88%
Max Drawdown (5Y) Largest decline over 5 years	—	-39.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.74%	—
Current Drawdown Current decline from peak	-19.14%	-3.28%	-15.86%
Average Drawdown Average peak-to-trough decline	-7.49%	-40.40%	+32.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.99%	2.54%	+5.45%

Volatility

FMET vs. IYZ - Volatility Comparison

Fidelity Metaverse ETF (FMET) has a higher volatility of 7.52% compared to iShares U.S. Telecommunications ETF (IYZ) at 6.93%. This indicates that FMET's price experiences larger fluctuations and is considered to be riskier than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMET	IYZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.52%	6.93%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	12.82%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	24.41%	18.68%	+5.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.29%	18.31%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.29%	19.06%	+5.23%