FVAL vs. FUTY

Last updated Jun 4, 2026

FVAL (Fidelity Value Factor ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FVAL is a Large Cap Value Equities fund tracking the Fidelity U.S. Value Factor Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 5 years, FVAL returned 12.53%/yr vs 9.13%/yr for FUTY. At a 0.37 correlation, their price movements are largely independent. FVAL charges 0.15%/yr vs 0.08%/yr for FUTY.

Performance

FVAL vs. FUTY - Performance Comparison

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

Returns By Period

In the year-to-date period, FVAL achieves a 11.14% return, which is significantly higher than FUTY's 3.16% return.

FVAL

• 1D: -0.59%
• 1M: 5.54%
• YTD: 11.14%
• 6M: 12.79%
• 1Y: 31.42%
• 3Y*: 20.96%
• 5Y*: 12.53%
• 10Y*: —

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%

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

FVAL vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVAL Fidelity Value Factor ETF	11.14%	19.56%	18.05%	23.10%	-14.40%	30.33%	9.08%	30.33%	-7.87%	22.49%
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%

Correlation

The correlation between FVAL and FUTY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.37

The correlation between FVAL and FUTY shifts across timeframes, from 0.22 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.

FVAL vs. FUTY - Sectors Allocation Comparison

Sectors	FVAL	FUTY
Technology	32.6%	-
Financial Services	11.4%	-
Consumer Cyclical	9.9%	-
Communication Services	9.4%	-
Healthcare	9.3%	-
Industrials	8.1%	0.2%
Consumer Defensive	4.3%	-
Energy	4.1%	0.5%
Real Estate	2.4%	-
Basic Materials	1.9%	-
Utilities	1.8%	99.2%

Return for Risk

FVAL vs. FUTY — Risk / Return Rank

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

FVAL

FVAL Risk / Return Rank: 79
FVAL Sharpe Ratio Rank: 82
FVAL Sortino Ratio Rank: 83
FVAL Omega Ratio Rank: 81
FVAL Calmar Ratio Rank: 70
FVAL Martin Ratio Rank: 79

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

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. FUTY - Risk-Adjusted Trends Comparison

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

	FVAL	FUTY	Difference
Sharpe ratio Return per unit of total volatility	2.73	0.67	+2.07
Sortino ratio Return per unit of downside risk	3.78	0.99	+2.80
Omega ratio Gain probability vs. loss probability	1.49	1.12	+0.37
Calmar ratio Return relative to maximum drawdown	3.54	1.07	+2.47
Martin ratio Return relative to average drawdown	15.80	2.41	+13.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FVAL vs. FUTY - Sharpe Ratio Comparison

The current FVAL Sharpe Ratio is 2.73, which is higher than the FUTY Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of FVAL and FUTY, 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

	FVAL	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	0.67	+2.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.54	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.55	+0.26

Drawdowns

FVAL vs. FUTY - Drawdown Comparison

The maximum FVAL drawdown since its inception was -37.26%, roughly equal to the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FVAL and FUTY.

Drawdown Indicators

	FVAL	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-36.44%	-0.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-8.93%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.39%	-17.35%	-1.04%
Max Drawdown (5Y) Largest decline over 5 years	-23.42%	-25.11%	+1.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	-0.75%	-7.28%	+6.53%
Average Drawdown Average peak-to-trough decline	-4.58%	-6.03%	+1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	3.97%	-1.98%

Volatility

FVAL vs. FUTY - Volatility Comparison

The current volatility for Fidelity Value Factor ETF (FVAL) is 2.70%, while Fidelity MSCI Utilities Index ETF (FUTY) has a volatility of 5.45%. This indicates that FVAL experiences smaller price fluctuations and is considered to be less risky than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVAL	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	5.45%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	11.40%	-2.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.56%	14.33%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	17.08%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	19.05%	-0.94%

FVAL vs. FUTY - Expense Ratio Comparison

FVAL has a 0.15% expense ratio, which is higher than FUTY'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. FUTY - Dividend Comparison

FVAL's dividend yield for the trailing twelve months is around 1.49%, less than FUTY's 2.61% 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%
FVAL Fidelity Value Factor ETF	1.49%	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 FUTY in my portfolio?

FVAL and FUTY have a correlation of 0.22, 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 FUTY?

FUTY has higher volatility (5.45%) compared to FVAL (2.70%). In terms of maximum drawdown, FVAL dropped -37.26% vs FUTY's -36.44%.

Which ETF is better, FVAL or FUTY?

On 5-year performance, FVAL leads with 12.53% vs 9.13% for FUTY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FVAL has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVAL or FUTY?

Over the 5-year period, FVAL has performed better with a 12.53% return vs 9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVAL or FUTY?

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

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

FUTY has the higher dividend yield at 2.61%, compared with 1.49% for FVAL.

What is the main difference between FVAL and FUTY?

FVAL is categorized as Large Cap Value Equities, while FUTY is Utilities Equities. FVAL tracks Fidelity U.S. Value Factor Index, while FUTY tracks MSCI USA IMI Utilities Index. Their fees differ too: 0.15% for FVAL and 0.08% for FUTY.

Which has better risk-adjusted returns?

FVAL currently has the higher Sharpe Ratio (2.73 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.