FUTY vs. ELCV

Last updated Jun 14, 2026

FUTY (Fidelity MSCI Utilities Index ETF) and ELCV (Eventide High Dividend ETF) are both exchange-traded funds - FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index, while ELCV is a Large Cap Value Equities fund actively managed by Eventide. FUTY is passively managed, while ELCV is actively managed. Over the past year, FUTY returned 12.59% vs 32.38% for ELCV. A 0.61 correlation means they provide meaningful diversification when combined. FUTY charges 0.08%/yr vs 0.49%/yr for ELCV.

Performance

FUTY vs. ELCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Utilities Index ETF (FUTY) and Eventide High Dividend ETF (ELCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FUTY achieves a 4.88% return, which is significantly lower than ELCV's 22.21% return.

FUTY

• 1D: 1.14%
• 1M: -0.88%
• YTD: 4.88%
• 6M: 5.07%
• 1Y: 12.59%
• 3Y*: 13.69%
• 5Y*: 9.19%
• 10Y*: 9.07%

ELCV

• 1D: 0.94%
• 1M: 3.52%
• YTD: 22.21%
• 6M: 21.66%
• 1Y: 32.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FUTY vs. ELCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FUTY Fidelity MSCI Utilities Index ETF	4.88%	16.40%	-5.22%
ELCV Eventide High Dividend ETF	22.21%	9.96%	-0.64%

Correlation

The correlation between FUTY and ELCV is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.61

The correlation between FUTY and ELCV has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

Return for Risk

FUTY vs. ELCV — Risk / Return Rank

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

FUTY

FUTY Risk / Return Rank: 26
FUTY Sharpe Ratio Rank: 26
FUTY Sortino Ratio Rank: 24
FUTY Omega Ratio Rank: 24
FUTY Calmar Ratio Rank: 30
FUTY Martin Ratio Rank: 24

ELCV

ELCV Risk / Return Rank: 90
ELCV Sharpe Ratio Rank: 89
ELCV Sortino Ratio Rank: 88
ELCV Omega Ratio Rank: 86
ELCV Calmar Ratio Rank: 94
ELCV Martin Ratio Rank: 93

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.

FUTY vs. ELCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) and Eventide High Dividend ETF (ELCV). 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.

	FUTY	ELCV	Difference
Sharpe ratio: Return per unit of total volatility	0.82	2.64	-1.81
Sortino ratio: Return per unit of downside risk	1.19	3.56	-2.37
Omega ratio: Gain probability vs. loss probability	1.15	1.46	-0.31
Calmar ratio: Return relative to maximum drawdown	1.33	6.18	-4.85
Martin ratio: Return relative to average drawdown	2.88	21.66	-18.78

FUTY vs. ELCV - Sharpe Ratio Comparison

The current FUTY Sharpe Ratio is 0.82, which is lower than the ELCV Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FUTY and ELCV, 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

FUTY vs. ELCV - Drawdown Comparison

The maximum FUTY drawdown since its inception was -36.44%, which is greater than ELCV's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for FUTY and ELCV.

Drawdown Indicators

	FUTY	ELCV	Difference
Max Drawdown Largest peak-to-trough decline	-36.44%	-18.38%	-18.06%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-5.05%	-3.88%
Max Drawdown (3Y) Largest decline over 3 years	-17.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.44%	—	—
Current Drawdown Current decline from peak	-5.74%	0.00%	-5.74%
Average Drawdown Average peak-to-trough decline	-6.03%	-3.70%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	1.45%	+2.66%

Volatility

FUTY vs. ELCV - Volatility Comparison

Fidelity MSCI Utilities Index ETF (FUTY) has a higher volatility of 5.63% compared to Eventide High Dividend ETF (ELCV) at 4.47%. This indicates that FUTY's price experiences larger fluctuations and is considered to be riskier than ELCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUTY	ELCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	4.47%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	11.54%	9.21%	+2.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.43%	11.89%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	15.48%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	15.48%	+3.58%

FUTY vs. ELCV - Expense Ratio Comparison

FUTY has a 0.08% expense ratio, which is lower than ELCV's 0.49% expense ratio.

Dividends

FUTY vs. ELCV - Dividend Comparison

FUTY's dividend yield for the trailing twelve months is around 2.57%, more than ELCV's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELCV Eventide High Dividend ETF	1.75%	2.34%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FUTY Fidelity MSCI Utilities Index ETF	2.57%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both FUTY and ELCV in my portfolio?

FUTY and ELCV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FUTY or ELCV?

FUTY has higher volatility (5.63%) compared to ELCV (4.47%). In terms of maximum drawdown, FUTY dropped -36.44% vs ELCV's -18.38%.

Which ETF is better, FUTY or ELCV?

On 1-year performance, ELCV leads with 32.38% vs 12.59% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, ELCV has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FUTY or ELCV?

Over the 1-year period, ELCV has performed better with a 32.38% return vs 12.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FUTY or ELCV?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.49% for ELCV.

Which ETF pays a higher dividend yield, FUTY or ELCV?

FUTY has the higher dividend yield at 2.57%, compared with 1.75% for ELCV.

What is the main difference between FUTY and ELCV?

FUTY is categorized as Utilities Equities, while ELCV is Large Cap Value Equities. They also come from different issuers: Fidelity and Eventide. Their fees differ too: 0.08% for FUTY and 0.49% for ELCV.

Which has better risk-adjusted returns?

ELCV currently has the higher Sharpe Ratio (2.64 vs 0.82), 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.