FVAL vs. FTEC

Last updated Jun 24, 2026

FVAL (Fidelity Value Factor ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - FVAL is a Large Cap Value Equities fund tracking the Fidelity U.S. Value Factor 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 5 years, FVAL returned 12.00%/yr vs 19.77%/yr for FTEC. A 0.79 correlation means they provide meaningful diversification when combined. FVAL charges 0.15%/yr vs 0.08%/yr for FTEC.

Performance

FVAL vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Value Factor ETF (FVAL) 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, FVAL achieves a 7.62% return, which is significantly lower than FTEC's 23.56% return.

FVAL

• 1D: -0.92%
• 1M: -1.49%
• YTD: 7.62%
• 6M: 6.75%
• 1Y: 25.79%
• 3Y*: 19.21%
• 5Y*: 12.00%
• 10Y*: —

FTEC

• 1D: -3.70%
• 1M: 0.35%
• YTD: 23.56%
• 6M: 21.69%
• 1Y: 47.58%
• 3Y*: 30.58%
• 5Y*: 19.77%
• 10Y*: 25.28%

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

FVAL vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVAL Fidelity Value Factor ETF	7.62%	19.56%	18.05%	23.10%	-14.40%	30.33%	9.08%	30.33%	-7.87%	22.49%
FTEC Fidelity MSCI Information Technology Index ETF	23.56%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between FVAL and FTEC is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.79

The correlation between FVAL and FTEC has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

FVAL vs. FTEC - Sectors Allocation Comparison

Sectors	FVAL	FTEC
Technology	36.1%	98.3%
Financial Services	11.7%	0.6%
Consumer Cyclical	10.6%	0.0%
Healthcare	9.7%	-
Communication Services	9.7%	0.0%
Industrials	8.1%	0.6%
Consumer Defensive	4.4%	-
Energy	3.4%	0.3%
Real Estate	2.5%	-
Basic Materials	2.0%	0.0%
Utilities	1.9%	-

Return for Risk

FVAL vs. FTEC — Risk / Return Rank

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

FVAL

FVAL Risk / Return Rank: 68
FVAL Sharpe Ratio Rank: 70
FVAL Sortino Ratio Rank: 68
FVAL Omega Ratio Rank: 69
FVAL Calmar Ratio Rank: 61
FVAL Martin Ratio Rank: 70

FTEC

FTEC Risk / Return Rank: 60
FTEC Sharpe Ratio Rank: 67
FTEC Sortino Ratio Rank: 57
FTEC Omega Ratio Rank: 59
FTEC Calmar Ratio Rank: 62
FTEC 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.

FVAL vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Factor ETF (FVAL) 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.

	FVAL	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.10	+0.06
Sortino ratio: Return per unit of downside risk	2.97	2.63	+0.34
Omega ratio: Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio: Return relative to maximum drawdown	2.90	2.94	-0.04
Martin ratio: Return relative to average drawdown	12.33	9.03	+3.31

FVAL vs. FTEC - Sharpe Ratio Comparison

The current FVAL Sharpe Ratio is 2.16, which is comparable to the FTEC Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FVAL 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

FVAL vs. FTEC - Drawdown Comparison

The maximum FVAL drawdown since its inception was -37.26%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for FVAL and FTEC.

Drawdown Indicators

	FVAL	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-34.95%	-2.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-16.26%	+7.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.39%	-27.30%	+8.91%
Max Drawdown (5Y) Largest decline over 5 years	-23.42%	-34.95%	+11.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.95%	—
Current Drawdown Current decline from peak	-3.89%	-7.72%	+3.83%
Average Drawdown Average peak-to-trough decline	-4.57%	-5.57%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	5.28%	-3.18%

Volatility

FVAL vs. FTEC - Volatility Comparison

The current volatility for Fidelity Value Factor ETF (FVAL) is 4.32%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 11.42%. This indicates that FVAL 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

	FVAL	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	11.42%	-7.10%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	18.65%	-9.30%
Volatility (1Y) Calculated over the trailing 1-year period	12.01%	22.79%	-10.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	25.60%	-9.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	24.86%	-6.76%

FVAL vs. FTEC - Expense Ratio Comparison

FVAL has a 0.15% expense ratio, which is higher than FTEC's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FVAL vs. FTEC - Dividend Comparison

FVAL's dividend yield for the trailing twelve months is around 1.62%, more than FTEC's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.36%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
FVAL Fidelity Value Factor ETF	1.62%	1.61%	1.60%	1.69%	1.79%	1.41%	1.61%	1.77%	2.06%	1.62%	0.45%	0.00%

Frequently Asked Questions

Can I hold both FVAL and FTEC in my portfolio?

FVAL and FTEC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVAL or FTEC?

FTEC has higher volatility (11.42%) compared to FVAL (4.32%). In terms of maximum drawdown, FVAL dropped -37.26% vs FTEC's -34.95%.

Which ETF is better, FVAL or FTEC?

On 5-year performance, FTEC leads with 19.77% vs 12.00% for FVAL. On fees, FTEC is cheaper at 0.08% per year. On volatility, FVAL has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVAL or FTEC?

Over the 5-year period, FTEC has performed better with a 19.77% return vs 12.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVAL or FTEC?

FTEC is cheaper with a 0.08% expense ratio, compared with 0.15% for FVAL.

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

FVAL has the higher dividend yield at 1.62%, compared with 0.36% for FTEC.

What is the main difference between FVAL and FTEC?

FVAL is categorized as Large Cap Value Equities, while FTEC is Technology Equities. FVAL tracks Fidelity U.S. Value Factor Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. Their fees differ too: 0.15% for FVAL and 0.08% for FTEC.

Which has better risk-adjusted returns?

FVAL currently has the higher Sharpe Ratio (2.16 vs 2.10), 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.