MXI vs. FMAT
Compare and contrast key facts about iShares Global Materials ETF (MXI) and Fidelity MSCI Materials Index ETF (FMAT).
MXI and FMAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MXI is a passively managed fund by iShares that tracks the performance of the S&P Global Materials Index. It was launched on Sep 21, 2006. FMAT is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Materials Index. It was launched on Oct 21, 2013. Both MXI and FMAT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
MXI vs. FMAT - Performance Comparison
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MXI vs. FMAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXI iShares Global Materials ETF | 11.75% | 27.43% | -8.25% | 14.37% | -9.09% | 15.06% | 22.31% | 22.19% | -16.06% | 30.33% |
FMAT Fidelity MSCI Materials Index ETF | 10.39% | 12.11% | 0.47% | 13.71% | -11.54% | 27.45% | 19.57% | 23.35% | -17.40% | 23.51% |
Returns By Period
In the year-to-date period, MXI achieves a 11.75% return, which is significantly higher than FMAT's 10.39% return. Over the past 10 years, MXI has outperformed FMAT with an annualized return of 11.59%, while FMAT has yielded a comparatively lower 10.68% annualized return.
MXI
- 1D
- 1.67%
- 1M
- -6.80%
- YTD
- 11.75%
- 6M
- 17.94%
- 1Y
- 34.96%
- 3Y*
- 12.00%
- 5Y*
- 7.74%
- 10Y*
- 11.59%
FMAT
- 1D
- 1.35%
- 1M
- -6.01%
- YTD
- 10.39%
- 6M
- 13.11%
- 1Y
- 22.42%
- 3Y*
- 10.45%
- 5Y*
- 7.38%
- 10Y*
- 10.68%
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MXI vs. FMAT - Expense Ratio Comparison
MXI has a 0.46% expense ratio, which is higher than FMAT's 0.08% expense ratio.
Return for Risk
MXI vs. FMAT — Risk / Return Rank
MXI
FMAT
MXI vs. FMAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Materials ETF (MXI) and Fidelity MSCI Materials Index ETF (FMAT). 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.
| MXI | FMAT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.64 | 1.05 | +0.59 |
Sortino ratioReturn per unit of downside risk | 2.19 | 1.59 | +0.61 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.19 | 1.61 | +0.58 |
Martin ratioReturn relative to average drawdown | 9.33 | 5.50 | +3.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MXI | FMAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 1.05 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.38 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.51 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.44 | -0.18 |
Correlation
The correlation between MXI and FMAT is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MXI vs. FMAT - Dividend Comparison
MXI's dividend yield for the trailing twelve months is around 1.99%, more than FMAT's 1.45% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MXI iShares Global Materials ETF | 1.99% | 2.22% | 3.24% | 2.92% | 4.84% | 3.51% | 1.21% | 3.64% | 2.77% | 1.76% | 1.31% | 3.64% |
FMAT Fidelity MSCI Materials Index ETF | 1.45% | 1.64% | 1.68% | 1.71% | 2.00% | 1.44% | 1.73% | 1.89% | 2.18% | 1.53% | 1.78% | 2.16% |
Drawdowns
MXI vs. FMAT - Drawdown Comparison
The maximum MXI drawdown since its inception was -68.44%, which is greater than FMAT's maximum drawdown of -41.11%. Use the drawdown chart below to compare losses from any high point for MXI and FMAT.
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Drawdown Indicators
| MXI | FMAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.44% | -41.11% | -27.33% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -14.21% | -1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -28.76% | -25.40% | -3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -39.52% | -41.11% | +1.59% |
Current DrawdownCurrent decline from peak | -7.33% | -6.22% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -18.19% | -6.90% | -11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 4.16% | -0.37% |
Volatility
MXI vs. FMAT - Volatility Comparison
iShares Global Materials ETF (MXI) has a higher volatility of 8.48% compared to Fidelity MSCI Materials Index ETF (FMAT) at 6.76%. This indicates that MXI's price experiences larger fluctuations and is considered to be riskier than FMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXI | FMAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.48% | 6.76% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 15.20% | 13.38% | +1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.37% | 21.40% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.44% | 19.54% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.37% | 21.14% | -0.77% |