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PSCF vs. FNCL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSCF vs. FNCL

Last updated Jun 23, 2026

PSCF (Invesco S&P SmallCap Financials ETF) and FNCL (Fidelity MSCI Financials Index ETF) are both Financials Equities funds - PSCF tracks the S&P SmallCap 600 Financials Index while FNCL tracks the MSCI USA IMI Financials Index. Both are passively managed. Over the past 10 years, PSCF returned 7.84%/yr vs 13.39%/yr for FNCL. Their correlation of 0.83 suggests significant overlap in exposure. PSCF charges 0.29%/yr vs 0.08%/yr for FNCL.

Performance

PSCF vs. FNCL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Financials ETF (PSCF) and Fidelity MSCI Financials Index ETF (FNCL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PSCF achieves a 11.50% return, which is significantly higher than FNCL's -0.77% return. Over the past 10 years, PSCF has underperformed FNCL with an annualized return of 7.84%, while FNCL has yielded a comparatively higher 13.39% annualized return.

PSCF

1D
0.34%
1M
3.42%
YTD
11.50%
6M
9.11%
1Y
23.90%
3Y*
19.36%
5Y*
4.49%
10Y*
7.84%

FNCL

1D
0.47%
1M
3.73%
YTD
-0.77%
6M
-2.03%
1Y
9.85%
3Y*
20.78%
5Y*
10.23%
10Y*
13.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSCF vs. FNCL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PSCF
Invesco S&P SmallCap Financials ETF		11.50%6.19%15.50%6.02%-19.34%27.82%-9.07%23.13%-8.43%6.71%
FNCL
Fidelity MSCI Financials Index ETF		-0.77%14.94%30.44%14.10%-12.28%34.92%-2.19%31.59%-13.44%19.99%

Correlation

The correlation between PSCF and FNCL is 0.77, 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

0.77

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

0.82

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

0.84

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

0.82

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2013

0.83

The correlation between PSCF and FNCL has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

PSCF vs. FNCL - Sectors Allocation Comparison

Sectors
PSCF
FNCL

Financial Services

67.3%
96.9%

Real Estate

28.8%
0.7%

Technology

3.5%
2.0%

Industrials

0.4%
0.2%

Basic Materials

-

-

Communication Services

-

0.0%

Consumer Cyclical

-

0.0%

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

0.1%

Utilities

-

-

Financial Services

PSCF
67.3%
FNCL
96.9%

Real Estate

PSCF
28.8%
FNCL
0.7%

Technology

PSCF
3.5%
FNCL
2.0%

Industrials

PSCF
0.4%
FNCL
0.2%

Basic Materials

PSCF

-

FNCL

-

Communication Services

PSCF

-

FNCL
0.0%

Consumer Cyclical

PSCF

-

FNCL
0.0%

Consumer Defensive

PSCF

-

FNCL

-

Energy

PSCF

-

FNCL

-

Healthcare

PSCF

-

FNCL
0.1%

Utilities

PSCF

-

FNCL

-

Compare stocks, funds, or ETFs

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Invesco S&P SmallCap Financials ETF

Fidelity MSCI Financials Index ETF

Often compared with PSCF:
PSCF vs. PFFDPSCF vs. KBWPPSCF vs. MMSCPSCF vs. PSCIPSCF vs. GABFPSCF vs. VOOPSCF vs. BALI
Often compared with FNCL:
FNCL vs. XLFFNCL vs. VFHFNCL vs. FIDSXFNCL vs. FSPCXFNCL vs. FTECFNCL vs. KBEFNCL vs. FCOM

Return for Risk

PSCF vs. FNCL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSCF
PSCF Risk / Return Rank: 4242
Overall Rank
PSCF Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PSCF Sortino Ratio Rank: 4141
Sortino Ratio Rank
PSCF Omega Ratio Rank: 3838
Omega Ratio Rank
PSCF Calmar Ratio Rank: 5050
Calmar Ratio Rank
PSCF Martin Ratio Rank: 4141
Martin Ratio Rank
FNCL
FNCL Risk / Return Rank: 1818
Overall Rank
FNCL Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
FNCL Sortino Ratio Rank: 1818
Sortino Ratio Rank
FNCL Omega Ratio Rank: 1818
Omega Ratio Rank
FNCL Calmar Ratio Rank: 1717
Calmar Ratio Rank
FNCL Martin Ratio Rank: 1717
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.

PSCF vs. FNCL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Financials ETF (PSCF) and Fidelity MSCI Financials Index ETF (FNCL). 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.

PSCFFNCLDifference
Sharpe ratioReturn per unit of total volatility
1.37
0.66

+0.71

Sortino ratioReturn per unit of downside risk
2.01
0.99

+1.02

Omega ratioGain probability vs. loss probability

1.25

1.12

+0.12

Calmar ratioReturn relative to maximum drawdown

2.42

0.67

+1.75

Martin ratioReturn relative to average drawdown

6.45

1.74

+4.71

PSCF vs. FNCL - Sharpe Ratio Comparison

The current PSCF Sharpe Ratio is 1.37, which is higher than the FNCL Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of PSCF and FNCL, 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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Drawdowns

PSCF vs. FNCL - Drawdown Comparison

The maximum PSCF drawdown since its inception was -45.46%, roughly equal to the maximum FNCL drawdown of -44.38%. Use the drawdown chart below to compare losses from any high point for PSCF and FNCL.

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Drawdown Indicators

PSCFFNCLDifference

Max Drawdown

Largest peak-to-trough decline

-45.46%

-44.38%

-1.08%

Max Drawdown (1Y)

Largest decline over 1 year

-9.91%

-14.78%

+4.87%

Max Drawdown (3Y)

Largest decline over 3 years

-24.34%

-17.29%

-7.05%

Max Drawdown (5Y)

Largest decline over 5 years

-36.77%

-25.68%

-11.09%

Max Drawdown (10Y)

Largest decline over 10 years

-45.46%

-44.38%

-1.08%

Current Drawdown

Current decline from peak

-0.41%

-3.79%

+3.38%

Average Drawdown

Average peak-to-trough decline

-8.57%

-6.90%

-1.67%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.71%

5.68%

-1.97%

Volatility

PSCF vs. FNCL - Volatility Comparison

Invesco S&P SmallCap Financials ETF (PSCF) has a higher volatility of 4.56% compared to Fidelity MSCI Financials Index ETF (FNCL) at 4.21%. This indicates that PSCF's price experiences larger fluctuations and is considered to be riskier than FNCL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PSCFFNCLDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

4.21%

+0.35%

Volatility (6M)

Calculated over the trailing 6-month period

11.93%

11.35%

+0.58%

Volatility (1Y)

Calculated over the trailing 1-year period

17.53%

14.96%

+2.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.42%

19.21%

+3.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.81%

22.36%

+2.45%

PSCF vs. FNCL - Expense Ratio Comparison

PSCF has a 0.29% expense ratio, which is higher than FNCL's 0.08% expense ratio.

Dividends

PSCF vs. FNCL - Dividend Comparison

PSCF's dividend yield for the trailing twelve months is around 2.78%, more than FNCL's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
FNCL
Fidelity MSCI Financials Index ETF		1.65%1.45%1.52%1.91%2.29%1.75%2.26%2.17%2.37%1.60%1.81%2.17%
PSCF
Invesco S&P SmallCap Financials ETF		2.25%2.09%2.48%3.32%2.93%1.83%3.57%4.27%4.21%2.26%3.01%2.37%

Frequently Asked Questions

PSCF and FNCL have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PSCF has higher volatility (4.56%) compared to FNCL (4.21%). In terms of maximum drawdown, PSCF dropped -45.46% vs FNCL's -44.38%.

On 10-year performance, FNCL leads with 13.39% vs 7.84% for PSCF. On fees, FNCL is cheaper at 0.08% per year. On volatility, FNCL has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FNCL has performed better with a 13.39% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FNCL is cheaper with a 0.08% expense ratio, compared with 0.29% for PSCF.

PSCF has the higher dividend yield at 2.78%, compared with 1.65% for FNCL.

PSCF tracks S&P SmallCap 600 Financials Index, while FNCL tracks MSCI USA IMI Financials Index. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.29% for PSCF and 0.08% for FNCL.

PSCF currently has the higher Sharpe Ratio (1.37 vs 0.66), 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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