FNCL vs. FTEC

Last updated Jun 23, 2026

FNCL (Fidelity MSCI Financials Index ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - FNCL is a Financials Equities fund tracking the MSCI USA IMI Financials Index, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, FNCL returned 13.39%/yr vs 25.75%/yr for FTEC. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

FNCL vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Financials Index ETF (FNCL) and Fidelity MSCI Information Technology Index ETF (FTEC). 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 FTEC's 28.31% return. Over the past 10 years, FNCL has underperformed FTEC with an annualized return of 13.39%, while FTEC has yielded a comparatively higher 25.75% annualized return.

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%

FTEC

• 1D: 0.40%
• 1M: 4.21%
• YTD: 28.31%
• 6M: 27.06%
• 1Y: 54.89%
• 3Y*: 32.23%
• 5Y*: 20.85%
• 10Y*: 25.75%

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

FNCL vs. FTEC - 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%
FTEC Fidelity MSCI Information Technology Index ETF	28.31%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between FNCL and FTEC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.57

Over the past year, the correlation between FNCL and FTEC has dropped to 0.32 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

FNCL vs. FTEC - Sectors Allocation Comparison

Sectors	FNCL	FTEC
Financial Services	96.9%	0.6%
Technology	2.0%	98.3%
Real Estate	0.7%	-
Industrials	0.2%	0.6%
Healthcare	0.1%	-
Communication Services	0.0%	0.0%
Consumer Cyclical	0.0%	0.0%
Basic Materials	-	0.0%
Consumer Defensive	-	-
Energy	-	0.3%
Utilities	-	-

Return for Risk

FNCL vs. FTEC — 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

FTEC

FTEC Risk / Return Rank: 70
FTEC Sharpe Ratio Rank: 80
FTEC Sortino Ratio Rank: 69
FTEC Omega Ratio Rank: 71
FTEC Calmar Ratio Rank: 70
FTEC Martin Ratio Rank: 60

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. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Financials Index ETF (FNCL) and Fidelity MSCI Information Technology Index ETF (FTEC). 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	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	0.66	2.46	-1.79
Sortino ratio: Return per unit of downside risk	0.99	3.02	-2.03
Omega ratio: Gain probability vs. loss probability	1.12	1.40	-0.28
Calmar ratio: Return relative to maximum drawdown	0.67	3.39	-2.72
Martin ratio: Return relative to average drawdown	1.74	10.46	-8.72

FNCL vs. FTEC - Sharpe Ratio Comparison

The current FNCL Sharpe Ratio is 0.66, which is lower than the FTEC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FNCL and FTEC, 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. FTEC - Drawdown Comparison

The maximum FNCL drawdown since its inception was -44.38%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for FNCL and FTEC.

Drawdown Indicators

	FNCL	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	-34.95%	-9.43%
Max Drawdown (1Y) Largest decline over 1 year	-14.78%	-16.26%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-17.29%	-27.30%	+10.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.68%	-34.95%	+9.27%
Max Drawdown (10Y) Largest decline over 10 years	-44.38%	-34.95%	-9.43%
Current Drawdown Current decline from peak	-3.79%	-4.17%	+0.38%
Average Drawdown Average peak-to-trough decline	-6.90%	-5.57%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	5.26%	+0.42%

Volatility

FNCL vs. FTEC - Volatility Comparison

The current volatility for Fidelity MSCI Financials Index ETF (FNCL) is 4.21%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 10.69%. This indicates that FNCL experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCL	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	10.69%	-6.48%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	18.25%	-6.90%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	22.50%	-7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	25.54%	-6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.36%	24.87%	-2.51%

FNCL vs. FTEC - Expense Ratio Comparison

Both FNCL and FTEC have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FNCL vs. FTEC - Dividend Comparison

FNCL's dividend yield for the trailing twelve months is around 1.65%, more than FTEC's 0.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FTEC Fidelity MSCI Information Technology Index ETF	0.35%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%

Frequently Asked Questions

Can I hold both FNCL and FTEC in my portfolio?

FNCL and FTEC have a correlation of 0.32, 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 FTEC?

FTEC has higher volatility (10.69%) compared to FNCL (4.21%). In terms of maximum drawdown, FNCL dropped -44.38% vs FTEC's -34.95%.

Which ETF is better, FNCL or FTEC?

On 10-year performance, FTEC leads with 25.75% vs 13.39% for FNCL. Both ETFs have the same 0.08% expense ratio. On volatility, FNCL has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNCL or FTEC?

Over the 10-year period, FTEC has performed better with a 25.75% return vs 13.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNCL or FTEC?

FNCL and FTEC have the same expense ratio: 0.08% per year.

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

FNCL has the higher dividend yield at 1.65%, compared with 0.35% for FTEC.

What is the main difference between FNCL and FTEC?

FNCL is categorized as Financials Equities, while FTEC is Technology Equities. FNCL tracks MSCI USA IMI Financials Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (2.46 vs 0.66), 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.