FMET vs. VOX

Last updated Jun 24, 2026

FMET (Fidelity Metaverse ETF) and VOX (Vanguard Communication Services ETF) are both Communications Equities funds. FMET is actively managed, while VOX is passively managed. Over the past 3 years, FMET returned 13.64%/yr vs 21.81%/yr for VOX. A 0.76 correlation means they provide meaningful diversification when combined. FMET charges 0.39%/yr vs 0.09%/yr for VOX.

Performance

FMET vs. VOX - Performance Comparison

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

Returns By Period

In the year-to-date period, FMET achieves a 1.20% return, which is significantly higher than VOX's -5.35% return.

FMET

• 1D: -2.14%
• 1M: -5.16%
• YTD: 1.20%
• 6M: 0.69%
• 1Y: 12.21%
• 3Y*: 13.64%
• 5Y*: —
• 10Y*: —

VOX

• 1D: 0.26%
• 1M: -6.50%
• YTD: -5.35%
• 6M: -5.46%
• 1Y: 12.86%
• 3Y*: 21.81%
• 5Y*: 6.02%
• 10Y*: 8.42%

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

FMET vs. VOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMET Fidelity Metaverse ETF	1.20%	21.93%	6.76%	39.18%	-18.57%
VOX Vanguard Communication Services ETF	-5.35%	26.27%	33.12%	44.81%	-26.46%

Correlation

The correlation between FMET and VOX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022	0.76

The correlation between FMET and VOX shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FMET vs. VOX — Risk / Return Rank

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

FMET

FMET Risk / Return Rank: 17
FMET Sharpe Ratio Rank: 19
FMET Sortino Ratio Rank: 18
FMET Omega Ratio Rank: 18
FMET Calmar Ratio Rank: 15
FMET Martin Ratio Rank: 15

VOX

VOX Risk / Return Rank: 24
VOX Sharpe Ratio Rank: 24
VOX Sortino Ratio Rank: 24
VOX Omega Ratio Rank: 23
VOX Calmar Ratio Rank: 21
VOX 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. VOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Metaverse ETF (FMET) and Vanguard Communication Services ETF (VOX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FMET	VOX	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.82	-0.23
Sortino ratio: Return per unit of downside risk	0.92	1.25	-0.33
Omega ratio: Gain probability vs. loss probability	1.12	1.15	-0.03
Calmar ratio: Return relative to maximum drawdown	0.53	0.95	-0.42
Martin ratio: Return relative to average drawdown	1.39	3.37	-1.98

FMET vs. VOX - Sharpe Ratio Comparison

The current FMET Sharpe Ratio is 0.59, which is comparable to the VOX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of FMET and VOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMET vs. VOX - Drawdown Comparison

The maximum FMET drawdown since its inception was -29.94%, smaller than the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for FMET and VOX.

Drawdown Indicators

	FMET	VOX	Difference
Max Drawdown Largest peak-to-trough decline	-29.94%	-57.18%	+27.24%
Max Drawdown (1Y) Largest decline over 1 year	-23.00%	-13.56%	-9.44%
Max Drawdown (3Y) Largest decline over 3 years	-25.02%	-21.15%	-3.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.76%	—
Current Drawdown Current decline from peak	-9.21%	-8.53%	-0.68%
Average Drawdown Average peak-to-trough decline	-7.71%	-11.90%	+4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.79%	3.82%	+4.97%

Volatility

FMET vs. VOX - Volatility Comparison

Fidelity Metaverse ETF (FMET) has a higher volatility of 9.84% compared to Vanguard Communication Services ETF (VOX) at 5.44%. This indicates that FMET's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMET	VOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.84%	5.44%	+4.40%
Volatility (6M) Calculated over the trailing 6-month period	17.02%	11.89%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	15.80%	+5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	21.24%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	20.93%	+3.53%

FMET vs. VOX - Expense Ratio Comparison

FMET has a 0.39% expense ratio, which is higher than VOX's 0.09% expense ratio.

Dividends

FMET vs. VOX - Dividend Comparison

FMET's dividend yield for the trailing twelve months is around 0.52%, less than VOX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMET Fidelity Metaverse ETF	0.52%	0.81%	0.44%	0.40%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOX Vanguard Communication Services ETF	1.04%	0.95%	1.05%	1.03%	0.88%	0.93%	0.73%	0.90%	2.77%	3.83%	2.67%	3.55%

Frequently Asked Questions

Can I hold both FMET and VOX in my portfolio?

FMET and VOX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMET or VOX?

FMET has higher volatility (9.84%) compared to VOX (5.44%). In terms of maximum drawdown, FMET dropped -29.94% vs VOX's -57.18%.

Which ETF is better, FMET or VOX?

On 3-year performance, VOX leads with 21.81% vs 13.64% for FMET. On fees, VOX is cheaper at 0.09% per year. On volatility, VOX has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMET or VOX?

Over the 3-year period, VOX has performed better with a 21.81% return vs 13.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMET or VOX?

VOX is cheaper with a 0.09% expense ratio, compared with 0.39% for FMET.

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

VOX has the higher dividend yield at 1.04%, compared with 0.52% for FMET.

What is the main difference between FMET and VOX?

They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.39% for FMET and 0.09% for VOX.

Which has better risk-adjusted returns?

VOX currently has the higher Sharpe Ratio (0.82 vs 0.59), 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.