FUTY vs. PUI

Last updated Jun 4, 2026

FUTY (Fidelity MSCI Utilities Index ETF) and PUI (Invesco DWA Utilities Momentum ETF) are both exchange-traded funds - FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index, while PUI is a Momentum fund tracking the DWA Utilities Technical Leaders Index. Both are passively managed. Over the past 10 years, FUTY returned 9.03%/yr vs 8.33%/yr for PUI. Their correlation of 0.93 suggests significant overlap in exposure. FUTY charges 0.08%/yr vs 0.60%/yr for PUI.

Performance

FUTY vs. PUI - Performance Comparison

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

Returns By Period

In the year-to-date period, FUTY achieves a 3.16% return, which is significantly lower than PUI's 6.30% return. Over the past 10 years, FUTY has outperformed PUI with an annualized return of 9.03%, while PUI has yielded a comparatively lower 8.33% annualized return.

FUTY

• 1D: -0.60%
• 1M: -5.43%
• YTD: 3.16%
• 6M: 1.20%
• 1Y: 9.52%
• 3Y*: 13.62%
• 5Y*: 9.13%
• 10Y*: 9.03%

PUI

• 1D: -0.49%
• 1M: -4.33%
• YTD: 6.30%
• 6M: 3.12%
• 1Y: 11.74%
• 3Y*: 15.24%
• 5Y*: 8.55%
• 10Y*: 8.33%

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

FUTY vs. PUI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FUTY Fidelity MSCI Utilities Index ETF	3.16%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%
PUI Invesco DWA Utilities Momentum ETF	6.30%	15.25%	23.91%	-4.47%	-2.17%	15.02%	-5.05%	20.95%	6.12%	11.85%

Correlation

The correlation between FUTY and PUI is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.93

The correlation between FUTY and PUI has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

FUTY vs. PUI - Sectors Allocation Comparison

Sectors	FUTY	PUI
Utilities	99.2%	77.6%
Energy	0.5%	10.5%
Industrials	0.2%	9.8%
Basic Materials	-	-
Communication Services	-	2.1%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

FUTY vs. PUI — Risk / Return Rank

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

FUTY

FUTY Risk / Return Rank: 20
FUTY Sharpe Ratio Rank: 20
FUTY Sortino Ratio Rank: 18
FUTY Omega Ratio Rank: 19
FUTY Calmar Ratio Rank: 23
FUTY Martin Ratio Rank: 20

PUI

PUI Risk / Return Rank: 22
PUI Sharpe Ratio Rank: 22
PUI Sortino Ratio Rank: 21
PUI Omega Ratio Rank: 21
PUI Calmar Ratio Rank: 23
PUI Martin Ratio Rank: 21

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. PUI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Utilities Index ETF (FUTY) and Invesco DWA Utilities Momentum ETF (PUI). 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	PUI	Difference
Sharpe ratio Return per unit of total volatility	0.67	0.79	-0.12
Sortino ratio Return per unit of downside risk	0.99	1.15	-0.16
Omega ratio Gain probability vs. loss probability	1.12	1.14	-0.01
Calmar ratio Return relative to maximum drawdown	1.07	1.07	+0.01
Martin ratio Return relative to average drawdown	2.41	2.48	-0.07
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. PUI - Sharpe Ratio Comparison

The current FUTY Sharpe Ratio is 0.67, which is comparable to the PUI Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FUTY and PUI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FUTY	PUI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	0.79	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.52	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.44	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.45	+0.10

Drawdowns

FUTY vs. PUI - Drawdown Comparison

The maximum FUTY drawdown since its inception was -36.44%, smaller than the maximum PUI drawdown of -43.20%. Use the drawdown chart below to compare losses from any high point for FUTY and PUI.

Drawdown Indicators

	FUTY	PUI	Difference
Max Drawdown Largest peak-to-trough decline	-36.44%	-43.20%	+6.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-11.07%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.35%	-15.28%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-23.47%	-1.64%
Max Drawdown (10Y) Largest decline over 10 years	-36.44%	-35.61%	-0.83%
Current Drawdown Current decline from peak	-7.28%	-5.33%	-1.95%
Average Drawdown Average peak-to-trough decline	-6.03%	-8.46%	+2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	4.76%	-0.79%

Volatility

FUTY vs. PUI - Volatility Comparison

Fidelity MSCI Utilities Index ETF (FUTY) and Invesco DWA Utilities Momentum ETF (PUI) have volatilities of 5.45% and 5.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FUTY	PUI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.45%	5.31%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	11.14%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	14.96%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	16.67%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.05%	19.07%	-0.02%

FUTY vs. PUI - Expense Ratio Comparison

FUTY has a 0.08% expense ratio, which is lower than PUI's 0.60% expense ratio.

Dividends

FUTY vs. PUI - Dividend Comparison

FUTY's dividend yield for the trailing twelve months is around 2.61%, more than PUI's 2.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	2.61%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
PUI Invesco DWA Utilities Momentum ETF	2.11%	2.22%	2.06%	2.36%	2.16%	2.03%	2.42%	2.02%	1.87%	2.98%	3.35%	2.82%

Frequently Asked Questions

Can I hold both FUTY and PUI in my portfolio?

FUTY and PUI have a correlation of 0.89, 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 PUI?

FUTY has higher volatility (5.45%) compared to PUI (5.31%). In terms of maximum drawdown, FUTY dropped -36.44% vs PUI's -43.20%.

Which ETF is better, FUTY or PUI?

On 10-year performance, FUTY leads with 9.03% vs 8.33% for PUI. On fees, FUTY is cheaper at 0.08% per year. On volatility, PUI has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FUTY or PUI?

Over the 10-year period, FUTY has performed better with a 9.03% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FUTY or PUI?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.60% for PUI.

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

FUTY has the higher dividend yield at 2.61%, compared with 2.11% for PUI.

What is the main difference between FUTY and PUI?

FUTY is categorized as Utilities Equities, while PUI is Momentum. FUTY tracks MSCI USA IMI Utilities Index, while PUI tracks DWA Utilities Technical Leaders Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.08% for FUTY and 0.60% for PUI.

Which has better risk-adjusted returns?

PUI currently has the higher Sharpe Ratio (0.79 vs 0.67), 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.