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IYW vs. FTEC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYW vs. FTEC

Last updated Jun 4, 2026

IYW (iShares U.S. Technology ETF) and FTEC (Fidelity MSCI Information Technology Index ETF) are both Technology Equities funds - IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index while FTEC tracks the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, IYW returned 26.11%/yr vs 25.57%/yr for FTEC. With a 0.99 correlation, they move nearly in lockstep. IYW charges 0.38%/yr vs 0.08%/yr for FTEC.

Performance

IYW vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Technology ETF (IYW) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYW achieves a 29.03% return, which is significantly lower than FTEC's 31.89% return. Both investments have delivered pretty close results over the past 10 years, with IYW having a 26.11% annualized return and FTEC not far behind at 25.57%.

IYW

1D
-0.92%
1M
16.53%
YTD
29.03%
6M
28.22%
1Y
59.52%
3Y*
35.24%
5Y*
22.87%
10Y*
26.11%

FTEC

1D
-1.49%
1M
18.21%
YTD
31.89%
6M
30.74%
1Y
60.87%
3Y*
33.93%
5Y*
22.49%
10Y*
25.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYW vs. FTEC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYW
iShares U.S. Technology ETF		29.03%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%
FTEC
Fidelity MSCI Information Technology Index ETF		31.89%22.11%29.40%53.30%-29.59%30.49%45.83%48.93%-0.39%36.83%

Correlation

The correlation between IYW and FTEC is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2013

0.99

The correlation between IYW and FTEC has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Technology ETF

Fidelity MSCI Information Technology Index ETF

Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. IWFIYW vs. SOXX
Often compared with FTEC:
FTEC vs. VGTFTEC vs. QQQMFTEC vs. QQQFTEC vs. FSPTXFTEC vs. XLKFTEC vs. FXAIXFTEC vs. SMH

Return for Risk

IYW vs. FTEC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYW
IYW Risk / Return Rank: 7575
Overall Rank
IYW Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IYW Omega Ratio Rank: 8080
Omega Ratio Rank
IYW Calmar Ratio Rank: 6666
Calmar Ratio Rank
IYW Martin Ratio Rank: 6060
Martin Ratio Rank
FTEC
FTEC Risk / Return Rank: 7777
Overall Rank
FTEC Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
FTEC Sortino Ratio Rank: 8080
Sortino Ratio Rank
FTEC Omega Ratio Rank: 7878
Omega Ratio Rank
FTEC Calmar Ratio Rank: 7373
Calmar Ratio Rank
FTEC Martin Ratio Rank: 6565
Martin Ratio Rank
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.

IYW vs. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.

IYWFTECDifference
Sharpe ratioReturn per unit of total volatility
2.98
2.97

+0.01

Sortino ratioReturn per unit of downside risk
3.70
3.65

+0.04

Omega ratioGain probability vs. loss probability

1.48

1.48

+0.01

Calmar ratioReturn relative to maximum drawdown

3.36

3.76

-0.40

Martin ratioReturn relative to average drawdown

11.00

12.10

-1.10

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYW vs. FTEC - Sharpe Ratio Comparison

The current IYW Sharpe Ratio is 2.98, which is comparable to the FTEC Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of IYW 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.

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Sharpe Ratios by Period

IYWFTECDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.98

2.97

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

0.90

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.04

1.04

0.00

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.99

-0.63

Drawdowns

IYW vs. FTEC - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for IYW and FTEC.

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Drawdown Indicators

IYWFTECDifference

Max Drawdown

Largest peak-to-trough decline

-81.90%

-34.95%

-46.95%

Max Drawdown (1Y)

Largest decline over 1 year

-17.81%

-16.26%

-1.55%

Max Drawdown (3Y)

Largest decline over 3 years

-26.47%

-27.30%

+0.83%

Max Drawdown (5Y)

Largest decline over 5 years

-39.44%

-34.95%

-4.49%

Max Drawdown (10Y)

Largest decline over 10 years

-39.44%

-34.95%

-4.49%

Current Drawdown

Current decline from peak

-0.92%

-1.49%

+0.57%

Average Drawdown

Average peak-to-trough decline

-34.66%

-5.56%

-29.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.43%

5.05%

+0.38%

Volatility

IYW vs. FTEC - Volatility Comparison

iShares U.S. Technology ETF (IYW) and Fidelity MSCI Information Technology Index ETF (FTEC) have volatilities of 6.30% and 6.43%, 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.

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Volatility by Period

IYWFTECDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.30%

6.43%

-0.13%

Volatility (6M)

Calculated over the trailing 6-month period

15.85%

16.14%

-0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

20.09%

20.63%

-0.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.87%

25.23%

+0.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.09%

24.69%

+0.40%

IYW vs. FTEC - Expense Ratio Comparison

IYW has a 0.38% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

IYW vs. FTEC - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.11%, less than FTEC's 0.32% yield.

PositionTTM20252024202320222021202020192018201720162015
FTEC
Fidelity MSCI Information Technology Index ETF		0.32%0.43%0.49%0.77%0.93%0.63%0.83%1.03%1.20%0.96%1.25%1.27%
IYW
iShares U.S. Technology ETF		0.11%0.14%0.21%0.34%0.50%0.31%0.56%0.72%0.92%0.82%1.14%1.12%

Frequently Asked Questions

With a correlation of 0.98, IYW and FTEC 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.

FTEC has higher volatility (6.43%) compared to IYW (6.30%). In terms of maximum drawdown, IYW dropped -81.90% vs FTEC's -34.95%.

On 10-year performance, IYW leads with 26.11% vs 25.57% for FTEC. On fees, FTEC is cheaper at 0.08% per year. On volatility, IYW has been the lower-risk option at 6.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYW has performed better with a 26.11% return vs 25.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FTEC is cheaper with a 0.08% expense ratio, compared with 0.38% for IYW.

FTEC has the higher dividend yield at 0.32%, compared with 0.11% for IYW.

IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.38% for IYW and 0.08% for FTEC.

IYW currently has the higher Sharpe Ratio (2.98 vs 2.97), 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.

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