FNCL vs. FIDSX

Last updated Jun 23, 2026

FNCL (Fidelity MSCI Financials Index ETF) and FIDSX (Fidelity Select Financial Services Portfolio) are both Financials Equities funds. Over the past 10 years, FNCL returned 13.39%/yr vs 13.44%/yr for FIDSX. With a 0.98 correlation, they move nearly in lockstep. FNCL charges 0.08%/yr vs 0.73%/yr for FIDSX.

Performance

FNCL vs. FIDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Financials Index ETF (FNCL) and Fidelity Select Financial Services Portfolio (FIDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNCL achieves a -0.77% return, which is significantly lower than FIDSX's 2.00% return. Both investments have delivered pretty close results over the past 10 years, with FNCL having a 13.39% annualized return and FIDSX not far ahead at 13.44%.

FNCL

• 1D: 0.47%
• 1M: 3.73%
• YTD: -0.77%
• 6M: -2.03%
• 1Y: 9.85%
• 3Y*: 20.78%
• 5Y*: 10.23%
• 10Y*: 13.39%

FIDSX

• 1D: -0.31%
• 1M: 3.68%
• YTD: 2.00%
• 6M: -4.74%
• 1Y: 8.30%
• 3Y*: 20.36%
• 5Y*: 11.49%
• 10Y*: 13.44%

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

FNCL vs. FIDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNCL Fidelity MSCI Financials Index ETF	-0.77%	14.94%	30.44%	14.10%	-12.28%	34.92%	-2.19%	31.59%	-13.44%	19.99%
FIDSX Fidelity Select Financial Services Portfolio	2.00%	9.33%	32.82%	14.53%	-8.19%	33.13%	1.22%	34.25%	-16.13%	20.92%

Correlation

The correlation between FNCL and FIDSX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.98

The correlation between FNCL and FIDSX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

FNCL vs. FIDSX - Sectors Allocation Comparison

Sectors	FNCL	FIDSX
Financial Services	96.9%	98.7%
Technology	2.0%	1.3%
Real Estate	0.7%	-
Industrials	0.2%	-
Healthcare	0.1%	-
Communication Services	0.0%	-
Consumer Cyclical	0.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Utilities	-	-

Return for Risk

FNCL vs. FIDSX — Risk / Return Rank

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

FNCL

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

FIDSX

FIDSX Risk / Return Rank: 6
FIDSX Sharpe Ratio Rank: 7
FIDSX Sortino Ratio Rank: 6
FIDSX Omega Ratio Rank: 7
FIDSX Calmar Ratio Rank: 6
FIDSX Martin Ratio Rank: 6

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. FIDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Financials Index ETF (FNCL) and Fidelity Select Financial Services Portfolio (FIDSX). 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	FIDSX	Difference
Sharpe ratio: Return per unit of total volatility	0.66	0.51	+0.15
Sortino ratio: Return per unit of downside risk	0.99	0.78	+0.21
Omega ratio: Gain probability vs. loss probability	1.12	1.10	+0.02
Calmar ratio: Return relative to maximum drawdown	0.67	0.53	+0.14
Martin ratio: Return relative to average drawdown	1.74	1.27	+0.47

FNCL vs. FIDSX - Sharpe Ratio Comparison

The current FNCL Sharpe Ratio is 0.66, which is comparable to the FIDSX Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of FNCL and FIDSX, 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. FIDSX - Drawdown Comparison

The maximum FNCL drawdown since its inception was -44.38%, smaller than the maximum FIDSX drawdown of -74.26%. Use the drawdown chart below to compare losses from any high point for FNCL and FIDSX.

Drawdown Indicators

	FNCL	FIDSX	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	-74.26%	+29.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-16.60%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-17.29%	-19.44%	+2.15%
Max Drawdown (5Y) Largest decline over 5 years	-25.68%	-24.49%	-1.19%
Max Drawdown (10Y) Largest decline over 10 years	-44.38%	-45.48%	+1.10%
Current Drawdown Current decline from peak	-3.79%	-5.13%	+1.34%
Average Drawdown Average peak-to-trough decline	-6.90%	-13.94%	+7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	6.85%	-1.17%

Volatility

FNCL vs. FIDSX - Volatility Comparison

The current volatility for Fidelity MSCI Financials Index ETF (FNCL) is 4.21%, while Fidelity Select Financial Services Portfolio (FIDSX) has a volatility of 4.51%. This indicates that FNCL experiences smaller price fluctuations and is considered to be less risky than FIDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCL	FIDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	4.51%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	13.49%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	17.08%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	20.82%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	23.69%	-1.33%

FNCL vs. FIDSX - Expense Ratio Comparison

FNCL has a 0.08% expense ratio, which is lower than FIDSX's 0.73% expense ratio.

Dividends

FNCL vs. FIDSX - Dividend Comparison

FNCL's dividend yield for the trailing twelve months is around 1.65%, more than FIDSX's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDSX Fidelity Select Financial Services Portfolio	1.42%	1.70%	6.03%	3.01%	11.32%	4.12%	5.86%	5.57%	12.89%	4.22%	1.00%	0.70%
FNCL Fidelity MSCI Financials Index ETF	1.65%	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 FIDSX in my portfolio?

With a correlation of 0.96, FNCL and FIDSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FNCL or FIDSX?

FIDSX has higher volatility (4.51%) compared to FNCL (4.21%). In terms of maximum drawdown, FNCL dropped -44.38% vs FIDSX's -74.26%.

Which has better risk-adjusted returns?

FNCL currently has the higher Sharpe Ratio (0.66 vs 0.51), 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.