IXP vs. FCOM

Last updated Aug 2, 2026

IXP (iShares Global Comm Services ETF) and FCOM (Fidelity MSCI Communication Services Index ETF) are both Large Cap Growth Equities funds - IXP tracks the S&P Global 1200 Communication Services 4.5/22.5/45 Capped while FCOM tracks the MSCI USA IMI Communication Services 25/50 Index. Both are passively managed. Over the past 10 years, IXP returned 8.46%/yr vs 10.64%/yr for FCOM. Their correlation of 0.88 means they have usually moved in the same direction. IXP charges 0.43%/yr vs 0.08%/yr for FCOM.

Performance

IXP vs. FCOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Comm Services ETF (IXP) and Fidelity MSCI Communication Services Index ETF (FCOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IXP achieves a -4.50% return, which is significantly higher than FCOM's -5.84% return. Over the past 10 years, IXP has underperformed FCOM with an annualized return of 8.46%, while FCOM has yielded a comparatively higher 10.64% annualized return.

IXP

• 1D: 1.71%
• 1M: 0.30%
• 6M: -8.00%
• YTD: -4.50%
• 1Y: 5.85%
• 3Y*: 19.18%
• 5Y*: 7.61%
• 10Y*: 8.46%
• ALL TIME*: 6.52%

FCOM

• 1D: 1.18%
• 1M: -3.04%
• 6M: -8.54%
• YTD: -5.84%
• 1Y: 6.69%
• 3Y*: 18.54%
• 5Y*: 5.58%
• 10Y*: 10.64%
• ALL TIME*: 10.59%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCOM Fidelity MSCI Communication Services Index ETF	$15.12M	$14.12M	$12.44M
IXP iShares Global Comm Services ETF	$6.76M	$4.29M	$3.81M

IXP vs. FCOM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IXP iShares Global Comm Services ETF	-4.50%	29.27%	31.33%	38.80%	-33.40%	12.77%	22.16%	25.23%	-13.67%	6.65%
FCOM Fidelity MSCI Communication Services Index ETF	-5.84%	26.06%	33.05%	44.65%	-38.97%	13.88%	28.33%	26.69%	-5.33%	8.20%

Correlation

The correlation between IXP and FCOM is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.88

The correlation between IXP and FCOM has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

IXP vs. FCOM - Sectors Allocation Comparison

Sectors	IXP	FCOM
Communication Services	99.4%	89.6%
Technology	2.0%	8.0%
Real Estate	0.5%	0.1%
Consumer Cyclical	0.2%	0.2%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	1.7%
Utilities	-	-

Return for Risk

IXP vs. FCOM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IXP

IXP Risk / Return Rank: 17
IXP Sharpe Ratio Rank: 17
IXP Sortino Ratio Rank: 17
IXP Omega Ratio Rank: 16
IXP Calmar Ratio Rank: 17
IXP Martin Ratio Rank: 18

FCOM

FCOM Risk / Return Rank: 17
FCOM Sharpe Ratio Rank: 17
FCOM Sortino Ratio Rank: 16
FCOM Omega Ratio Rank: 16
FCOM Calmar Ratio Rank: 16
FCOM Martin Ratio Rank: 18

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IXP vs. FCOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Comm Services ETF (IXP) and Fidelity MSCI Communication Services Index ETF (FCOM). 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.

	IXP	FCOM	Difference
Sharpe ratio: Return per unit of total volatility	0.29	0.27	+0.02
Sortino ratio: Return per unit of downside risk	0.54	0.50	+0.04
Omega ratio: Gain probability vs. loss probability	1.06	1.06	0.00
Calmar ratio: Return relative to maximum drawdown	0.38	0.34	+0.04
Martin ratio: Return relative to average drawdown	0.99	1.02	-0.03

IXP vs. FCOM - Sharpe Ratio Comparison

The current IXP Sharpe Ratio is 0.29, which is comparable to the FCOM Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of IXP and FCOM, 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

IXP vs. FCOM - Drawdown Comparison

The maximum IXP drawdown since its inception was -50.11%, which is greater than FCOM's maximum drawdown of -46.76%. Use the drawdown chart below to compare losses from any high point for IXP and FCOM.

Drawdown Indicators

	IXP	FCOM	Difference
Max Drawdown Largest peak-to-trough decline	-50.11%	-46.76%	-3.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.26%	-13.48%	+1.22%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-21.16%	+3.62%
Max Drawdown (5Y) Largest decline over 5 years	-44.30%	-46.76%	+2.46%
Max Drawdown (10Y) Largest decline over 10 years	-44.30%	-46.76%	+2.46%
Current Drawdown Current decline from peak	-8.49%	-8.98%	+0.49%
Average Drawdown Average peak-to-trough decline	-11.89%	-8.64%	-3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	4.50%	+0.19%

Volatility

IXP vs. FCOM - Volatility Comparison

The current volatility for iShares Global Comm Services ETF (IXP) is 6.06%, while Fidelity MSCI Communication Services Index ETF (FCOM) has a volatility of 6.61%. This indicates that IXP experiences smaller price fluctuations and is considered to be less risky than FCOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IXP	FCOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	6.61%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	13.32%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	17.05%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	21.41%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	21.07%	-2.51%

IXP vs. FCOM - Expense Ratio Comparison

IXP has a 0.43% expense ratio, which is higher than FCOM's 0.08% expense ratio.

Dividends

IXP vs. FCOM - Dividend Comparison

IXP's dividend yield for the trailing twelve months is around 3.42%, more than FCOM's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCOM Fidelity MSCI Communication Services Index ETF	1.02%	0.88%	0.87%	0.77%	1.04%	0.90%	0.68%	0.86%	2.78%	11.70%	2.27%	2.92%
IXP iShares Global Comm Services ETF	3.42%	2.98%	1.35%	1.24%	0.62%	1.80%	0.95%	2.18%	4.32%	3.41%	4.02%	3.89%

Frequently Asked Questions

Can I hold both IXP and FCOM in my portfolio?

With a correlation of 0.92, IXP and FCOM 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, IXP or FCOM?

FCOM has higher volatility (6.61%) compared to IXP (6.06%). In terms of maximum drawdown, IXP dropped -50.11% vs FCOM's -46.76%.

Which ETF is better, IXP or FCOM?

On 10-year performance, FCOM leads with 10.64% vs 8.46% for IXP. On fees, FCOM is cheaper at 0.08% per year. On volatility, IXP has been the lower-risk option at 6.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXP or FCOM?

Over the 10-year period, FCOM has performed better with a 10.64% return vs 8.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXP or FCOM?

FCOM is cheaper with a 0.08% expense ratio, compared with 0.43% for IXP.

Which ETF pays a higher dividend yield, IXP or FCOM?

IXP has the higher dividend yield at 3.42%, compared with 1.02% for FCOM.

What is the main difference between IXP and FCOM?

IXP tracks S&P Global 1200 Communication Services 4.5/22.5/45 Capped, while FCOM tracks MSCI USA IMI Communication Services 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.43% for IXP and 0.08% for FCOM.

Which has better risk-adjusted returns?

IXP currently has the higher Sharpe Ratio (0.29 vs 0.27), 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.