NIXT vs. FDIS
NIXT (Research Affiliates Deletions ETF) and FDIS (Fidelity MSCI Consumer Discretionary Index ETF) are both exchange-traded funds - NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index, while FDIS is a Consumer Discretionary Equities fund tracking the MSCI USA IMI Consumer Discretionary 25/50 Index. Both are passively managed. Over the past year, NIXT returned 32.03% vs 5.73% for FDIS. A 0.73 correlation means they provide meaningful diversification when combined. NIXT charges 0.09%/yr vs 0.08%/yr for FDIS.
Performance
NIXT vs. FDIS - Performance Comparison
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Returns By Period
In the year-to-date period, NIXT achieves a 25.89% return, which is significantly higher than FDIS's -0.90% return.
NIXT
- 1D
- -0.76%
- 1M
- 6.45%
- 6M
- 20.40%
- YTD
- 25.89%
- 1Y
- 32.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.03%
FDIS
- 1D
- -0.77%
- 1M
- -1.24%
- 6M
- -3.89%
- YTD
- -0.90%
- 1Y
- 5.73%
- 3Y*
- 11.54%
- 5Y*
- 5.13%
- 10Y*
- 13.25%
- ALL TIME*
- 12.45%
NIXT vs. FDIS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 25.89% | 4.94% | 4.60% |
FDIS Fidelity MSCI Consumer Discretionary Index ETF | -0.90% | 5.67% | 19.55% |
Correlation
The correlation between NIXT and FDIS is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.73 |
The correlation between NIXT and FDIS has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.
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Return for Risk
NIXT vs. FDIS — Risk / Return Rank
NIXT
FDIS
NIXT vs. FDIS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS). 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.
| NIXT | FDIS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.07 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 0.37 | +2.38 |
| Martin ratioReturn relative to average drawdown | 9.32 | 1.10 | +8.21 |
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Drawdowns
NIXT vs. FDIS - Drawdown Comparison
The maximum NIXT drawdown since its inception was -27.75%, smaller than the maximum FDIS drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for NIXT and FDIS.
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Drawdown Indicators
| NIXT | FDIS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.75% | -39.16% | +11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -15.50% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.43% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.16% | — |
Current DrawdownCurrent decline from peak | -1.29% | -5.45% | +4.16% |
Average DrawdownAverage peak-to-trough decline | -5.64% | -7.47% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 5.20% | -1.75% |
Volatility
NIXT vs. FDIS - Volatility Comparison
Research Affiliates Deletions ETF (NIXT) and Fidelity MSCI Consumer Discretionary Index ETF (FDIS) have volatilities of 5.19% and 5.26%, 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
| NIXT | FDIS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 5.26% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 14.02% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.09% | 18.87% | +2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.02% | 24.01% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.02% | 22.33% | +0.69% |
NIXT vs. FDIS - Expense Ratio Comparison
NIXT has a 0.09% expense ratio, which is higher than FDIS'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
NIXT vs. FDIS - Dividend Comparison
NIXT's dividend yield for the trailing twelve months is around 1.30%, more than FDIS's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDIS Fidelity MSCI Consumer Discretionary Index ETF | 0.74% | 0.75% | 0.69% | 0.78% | 1.00% | 0.58% | 0.59% | 1.14% | 1.29% | 1.00% | 1.62% | 1.25% |
NIXT Research Affiliates Deletions ETF | 1.30% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NIXT and FDIS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDIS has higher volatility (5.26%) compared to NIXT (5.19%). In terms of maximum drawdown, NIXT dropped -27.75% vs FDIS's -39.16%.
On 1-year performance, NIXT leads with 32.03% vs 5.73% for FDIS. On fees, FDIS is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 32.03% return vs 5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDIS is cheaper with a 0.08% expense ratio, compared with 0.09% for NIXT.
NIXT has the higher dividend yield at 1.30%, compared with 0.74% for FDIS.
NIXT is categorized as Mid Cap Value Equities, while FDIS is Consumer Discretionary Equities. NIXT tracks Research Affiliates Deletions Index, while FDIS tracks MSCI USA IMI Consumer Discretionary 25/50 Index. They also come from different issuers: Research Affiliates and Fidelity. Their fees differ too: 0.09% for NIXT and 0.08% for FDIS.
NIXT currently has the higher Sharpe Ratio (1.53 vs 0.31), 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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