FNCL vs. AOTG

Last updated Jun 24, 2026

FNCL (Fidelity MSCI Financials Index ETF) and AOTG (AOT Growth and Innovation ETF) are both exchange-traded funds - FNCL is a Financials Equities fund tracking the MSCI USA IMI Financials Index, while AOTG is a Technology Equities fund actively managed by AOT. FNCL is passively managed, while AOTG is actively managed. Over the past 3 years, FNCL returned 20.96%/yr vs 26.75%/yr for AOTG. A 0.55 correlation means they provide meaningful diversification when combined. FNCL charges 0.08%/yr vs 0.75%/yr for AOTG.

Performance

FNCL vs. AOTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Financials Index ETF (FNCL) and AOT Growth and Innovation ETF (AOTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNCL achieves a -0.31% return, which is significantly lower than AOTG's 10.85% return.

FNCL

• 1D: 0.46%
• 1M: 4.20%
• YTD: -0.31%
• 6M: -1.64%
• 1Y: 8.95%
• 3Y*: 20.96%
• 5Y*: 10.07%
• 10Y*: 13.45%

AOTG

• 1D: -3.99%
• 1M: 3.36%
• YTD: 10.85%
• 6M: 9.11%
• 1Y: 31.87%
• 3Y*: 26.75%
• 5Y*: —
• 10Y*: —

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

FNCL vs. AOTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FNCL Fidelity MSCI Financials Index ETF	-0.31%	14.94%	30.44%	14.10%	6.98%
AOTG AOT Growth and Innovation ETF	10.85%	25.26%	32.20%	54.58%	-11.14%

Correlation

The correlation between FNCL and AOTG is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.55

The correlation between FNCL and AOTG shifts across timeframes, from 0.39 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

FNCL vs. AOTG - Sectors Allocation Comparison

Sectors	FNCL	AOTG
Financial Services	96.9%	9.7%
Technology	2.0%	67.4%
Real Estate	0.7%	-
Industrials	0.2%	0.6%
Healthcare	0.1%	0.2%
Communication Services	0.0%	15.0%
Consumer Cyclical	0.0%	7.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Utilities	-	-

Return for Risk

FNCL vs. AOTG — Risk / Return Rank

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

FNCL

FNCL Risk / Return Rank: 17
FNCL Sharpe Ratio Rank: 19
FNCL Sortino Ratio Rank: 17
FNCL Omega Ratio Rank: 17
FNCL Calmar Ratio Rank: 16
FNCL Martin Ratio Rank: 16

AOTG

AOTG Risk / Return Rank: 33
AOTG Sharpe Ratio Rank: 36
AOTG Sortino Ratio Rank: 33
AOTG Omega Ratio Rank: 35
AOTG Calmar Ratio Rank: 29
AOTG Martin Ratio Rank: 29

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.

FNCL vs. AOTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Financials Index ETF (FNCL) and AOT Growth and Innovation ETF (AOTG). 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.

	FNCL	AOTG	Difference
Sharpe ratio: Return per unit of total volatility	0.60	1.24	-0.63
Sortino ratio: Return per unit of downside risk	0.91	1.71	-0.79
Omega ratio: Gain probability vs. loss probability	1.11	1.22	-0.11
Calmar ratio: Return relative to maximum drawdown	0.61	1.40	-0.79
Martin ratio: Return relative to average drawdown	1.58	3.96	-2.38

FNCL vs. AOTG - Sharpe Ratio Comparison

The current FNCL Sharpe Ratio is 0.60, which is lower than the AOTG Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FNCL and AOTG, 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

FNCL vs. AOTG - Drawdown Comparison

The maximum FNCL drawdown since its inception was -44.38%, which is greater than AOTG's maximum drawdown of -31.63%. Use the drawdown chart below to compare losses from any high point for FNCL and AOTG.

Drawdown Indicators

	FNCL	AOTG	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	-31.63%	-12.75%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-22.85%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	-17.29%	-27.41%	+10.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.38%	—	—
Current Drawdown Current decline from peak	-3.35%	-7.25%	+3.90%
Average Drawdown Average peak-to-trough decline	-6.90%	-7.86%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	8.07%	-2.39%

Volatility

FNCL vs. AOTG - Volatility Comparison

The current volatility for Fidelity MSCI Financials Index ETF (FNCL) is 4.22%, while AOT Growth and Innovation ETF (AOTG) has a volatility of 12.24%. This indicates that FNCL experiences smaller price fluctuations and is considered to be less risky than AOTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCL	AOTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	12.24%	-8.02%
Volatility (6M) Calculated over the trailing 6-month period	11.36%	21.22%	-9.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	25.89%	-10.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	29.56%	-10.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.30%	29.56%	-7.26%

FNCL vs. AOTG - Expense Ratio Comparison

FNCL has a 0.08% expense ratio, which is lower than AOTG's 0.75% expense ratio.

Dividends

FNCL vs. AOTG - Dividend Comparison

FNCL's dividend yield for the trailing twelve months is around 1.64%, while AOTG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOTG AOT Growth and Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNCL Fidelity MSCI Financials Index ETF	1.64%	1.45%	1.52%	1.91%	2.29%	1.75%	2.26%	2.17%	2.37%	1.60%	1.81%	2.17%

Frequently Asked Questions

Can I hold both FNCL and AOTG in my portfolio?

FNCL and AOTG have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNCL or AOTG?

AOTG has higher volatility (12.24%) compared to FNCL (4.22%). In terms of maximum drawdown, FNCL dropped -44.38% vs AOTG's -31.63%.

Which ETF is better, FNCL or AOTG?

On 3-year performance, AOTG leads with 26.75% vs 20.96% for FNCL. On fees, FNCL is cheaper at 0.08% per year. On volatility, FNCL has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNCL or AOTG?

Over the 3-year period, AOTG has performed better with a 26.75% return vs 20.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNCL or AOTG?

FNCL is cheaper with a 0.08% expense ratio, compared with 0.75% for AOTG.

Which ETF pays a higher dividend yield, FNCL or AOTG?

FNCL has the higher dividend yield at 1.64%, compared with 0.00% for AOTG.

What is the main difference between FNCL and AOTG?

FNCL is categorized as Financials Equities, while AOTG is Technology Equities. They also come from different issuers: Fidelity and AOT. Their fees differ too: 0.08% for FNCL and 0.75% for AOTG.

Which has better risk-adjusted returns?

AOTG currently has the higher Sharpe Ratio (1.24 vs 0.60), 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.