FUTY vs. FXU

Last updated Jul 18, 2026

FUTY (Fidelity MSCI Utilities Index ETF) and FXU (First Trust Utilities AlphaDEX Fund) are both Utilities Equities funds - FUTY tracks the MSCI USA IMI Utilities Index while FXU tracks the StrataQuant Utilities Index. Both are passively managed. Over the past 10 years, FUTY returned 8.94%/yr vs 9.13%/yr for FXU. Their correlation of 0.92 suggests significant overlap in exposure. FUTY charges 0.08%/yr vs 0.62%/yr for FXU.

Performance

FUTY vs. FXU - Performance Comparison

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

Returns By Period

In the year-to-date period, FUTY achieves a 6.97% return, which is significantly lower than FXU's 11.29% return. Both investments have delivered pretty close results over the past 10 years, with FUTY having a 8.94% annualized return and FXU not far ahead at 9.13%.

FUTY

• 1D: -0.65%
• 1M: 2.09%
• 6M: 4.86%
• YTD: 6.97%
• 1Y: 12.72%
• 3Y*: 14.56%
• 5Y*: 9.51%
• 10Y*: 8.94%

FXU

• 1D: -0.74%
• 1M: 3.76%
• 6M: 7.73%
• YTD: 11.29%
• 1Y: 18.80%
• 3Y*: 18.43%
• 5Y*: 12.47%
• 10Y*: 9.13%

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

FUTY vs. FXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUTY Fidelity MSCI Utilities Index ETF	6.97%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%
FXU First Trust Utilities AlphaDEX Fund	11.29%	21.86%	22.50%	-2.12%	3.68%	17.67%	1.53%	11.67%	5.43%	0.98%

Correlation

The correlation between FUTY and FXU is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.92

The correlation between FUTY and FXU has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

FUTY vs. FXU - Sectors Allocation Comparison

Sectors	FUTY	FXU
Utilities	99.3%	92.4%
Energy	0.5%	3.6%
Industrials	0.2%	4.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

FUTY vs. FXU — Risk / Return Rank

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

FUTY

FUTY Risk / Return Rank: 29
FUTY Sharpe Ratio Rank: 29
FUTY Sortino Ratio Rank: 27
FUTY Omega Ratio Rank: 27
FUTY Calmar Ratio Rank: 34
FUTY Martin Ratio Rank: 28

FXU

FXU Risk / Return Rank: 48
FXU Sharpe Ratio Rank: 50
FXU Sortino Ratio Rank: 47
FXU Omega Ratio Rank: 44
FXU Calmar Ratio Rank: 55
FXU Martin Ratio Rank: 43

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. FXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) and First Trust Utilities AlphaDEX Fund (FXU). 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	FXU	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.39	-0.51
Sortino ratio: Return per unit of downside risk	1.26	1.92	-0.66
Omega ratio: Gain probability vs. loss probability	1.15	1.23	-0.08
Calmar ratio: Return relative to maximum drawdown	1.43	2.19	-0.76
Martin ratio: Return relative to average drawdown	2.99	5.54	-2.55

FUTY vs. FXU - Sharpe Ratio Comparison

The current FUTY Sharpe Ratio is 0.87, which is lower than the FXU Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of FUTY and FXU, 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. FXU - Drawdown Comparison

The maximum FUTY drawdown since its inception was -36.44%, smaller than the maximum FXU drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for FUTY and FXU.

Drawdown Indicators

	FUTY	FXU	Difference
Max Drawdown Largest peak-to-trough decline	-36.44%	-49.00%	+12.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-8.63%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-17.35%	-17.46%	+0.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-21.87%	-3.24%
Max Drawdown (10Y) Largest decline over 10 years	-36.44%	-34.81%	-1.63%
Current Drawdown Current decline from peak	-3.86%	-2.87%	-0.99%
Average Drawdown Average peak-to-trough decline	-6.01%	-7.61%	+1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	3.40%	+0.86%

Volatility

FUTY vs. FXU - Volatility Comparison

The current volatility for Fidelity MSCI Utilities Index ETF (FUTY) is 4.34%, while First Trust Utilities AlphaDEX Fund (FXU) has a volatility of 4.71%. This indicates that FUTY experiences smaller price fluctuations and is considered to be less risky than FXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUTY	FXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	4.71%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	10.79%	+0.87%
Volatility (1Y) Calculated over the trailing 1-year period	14.66%	13.63%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	16.61%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	18.37%	+0.70%

FUTY vs. FXU - Expense Ratio Comparison

FUTY has a 0.08% expense ratio, which is lower than FXU's 0.62% expense ratio.

Dividends

FUTY vs. FXU - Dividend Comparison

FUTY's dividend yield for the trailing twelve months is around 2.59%, more than FXU's 2.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	2.59%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
FXU First Trust Utilities AlphaDEX Fund	2.14%	2.29%	2.41%	2.52%	2.03%	2.00%	3.97%	2.34%	2.40%	3.81%	2.62%	3.90%

Frequently Asked Questions

Can I hold both FUTY and FXU in my portfolio?

With a correlation of 0.93, FUTY and FXU 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, FUTY or FXU?

FXU has higher volatility (4.71%) compared to FUTY (4.34%). In terms of maximum drawdown, FUTY dropped -36.44% vs FXU's -49.00%.

Which ETF is better, FUTY or FXU?

On 10-year performance, FXU leads with 9.13% vs 8.94% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FUTY or FXU?

Over the 10-year period, FXU has performed better with a 9.13% return vs 8.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FUTY or FXU?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.62% for FXU.

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

FUTY has the higher dividend yield at 2.59%, compared with 2.14% for FXU.

What is the main difference between FUTY and FXU?

FUTY tracks MSCI USA IMI Utilities Index, while FXU tracks StrataQuant Utilities Index. They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.08% for FUTY and 0.62% for FXU.

Which has better risk-adjusted returns?

FXU currently has the higher Sharpe Ratio (1.39 vs 0.87), 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.