FUTY vs. FMAT

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity MSCI Utilities Index ETF (FUTY) and Fidelity MSCI Materials Index ETF (FMAT).

FUTY and FMAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FUTY is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Utilities Index. It was launched on Oct 21, 2013. FMAT is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Materials Index. It was launched on Oct 21, 2013. Both FUTY and FMAT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FUTY vs. FMAT - Performance Comparison

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

FUTY vs. FMAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUTY Fidelity MSCI Utilities Index ETF	8.19%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%
FMAT Fidelity MSCI Materials Index ETF	10.39%	12.11%	0.47%	13.71%	-11.54%	27.45%	19.57%	23.35%	-17.40%	23.51%

Returns By Period

In the year-to-date period, FUTY achieves a 8.19% return, which is significantly lower than FMAT's 10.39% return. Over the past 10 years, FUTY has underperformed FMAT with an annualized return of 9.67%, while FMAT has yielded a comparatively higher 10.68% annualized return.

FUTY

• 1D: 0.49%
• 1M: -2.11%
• YTD: 8.19%
• 6M: 5.65%
• 1Y: 19.31%
• 3Y*: 13.99%
• 5Y*: 10.62%
• 10Y*: 9.67%

FMAT

• 1D: 1.35%
• 1M: -6.01%
• YTD: 10.39%
• 6M: 13.11%
• 1Y: 22.42%
• 3Y*: 10.45%
• 5Y*: 7.38%
• 10Y*: 10.68%

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

FUTY vs. FMAT - Expense Ratio Comparison

Both FUTY and FMAT 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%.

FUTY

Fidelity MSCI Utilities Index ETF

FMAT

Fidelity MSCI Materials Index ETF

Return for Risk

FUTY vs. FMAT — Risk / Return Rank

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

FUTY

FUTY Risk / Return Rank: 65
FUTY Sharpe Ratio Rank: 69
FUTY Sortino Ratio Rank: 65
FUTY Omega Ratio Rank: 60
FUTY Calmar Ratio Rank: 79
FUTY Martin Ratio Rank: 52

FMAT

FMAT Risk / Return Rank: 57
FMAT Sharpe Ratio Rank: 57
FMAT Sortino Ratio Rank: 59
FMAT Omega Ratio Rank: 52
FMAT Calmar Ratio Rank: 60
FMAT Martin Ratio Rank: 54

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. FMAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) and Fidelity MSCI Materials Index ETF (FMAT). 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.

	FUTY	FMAT	Difference
Sharpe ratio Return per unit of total volatility	1.25	1.05	+0.20
Sortino ratio Return per unit of downside risk	1.70	1.59	+0.11
Omega ratio Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio Return relative to maximum drawdown	2.20	1.61	+0.59
Martin ratio Return relative to average drawdown	5.24	5.50	-0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FUTY vs. FMAT - Sharpe Ratio Comparison

The current FUTY Sharpe Ratio is 1.25, which is comparable to the FMAT Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of FUTY and FMAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FUTY	FMAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.05	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.38	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.51	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.44	+0.14

Correlation

The correlation between FUTY and FMAT is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FUTY vs. FMAT - Dividend Comparison

FUTY's dividend yield for the trailing twelve months is around 2.49%, more than FMAT's 1.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	2.49%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
FMAT Fidelity MSCI Materials Index ETF	1.45%	1.64%	1.68%	1.71%	2.00%	1.44%	1.73%	1.89%	2.18%	1.53%	1.78%	2.16%

Drawdowns

FUTY vs. FMAT - Drawdown Comparison

The maximum FUTY drawdown since its inception was -36.44%, smaller than the maximum FMAT drawdown of -41.11%. Use the drawdown chart below to compare losses from any high point for FUTY and FMAT.

Drawdown Indicators

	FUTY	FMAT	Difference
Max Drawdown Largest peak-to-trough decline	-36.44%	-41.11%	+4.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-14.21%	+5.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-25.40%	+0.29%
Max Drawdown (10Y) Largest decline over 10 years	-36.44%	-41.11%	+4.67%
Current Drawdown Current decline from peak	-2.76%	-6.22%	+3.46%
Average Drawdown Average peak-to-trough decline	-6.06%	-6.90%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	4.16%	-0.41%

Volatility

FUTY vs. FMAT - Volatility Comparison

The current volatility for Fidelity MSCI Utilities Index ETF (FUTY) is 5.03%, while Fidelity MSCI Materials Index ETF (FMAT) has a volatility of 6.76%. This indicates that FUTY experiences smaller price fluctuations and is considered to be less risky than FMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUTY	FMAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	6.76%	-1.73%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	13.38%	-3.23%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	21.40%	-5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.93%	19.54%	-2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	21.14%	-2.15%