VPU vs. FUTY

Last updated Jun 20, 2026

VPU (Vanguard Utilities ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both Utilities Equities funds - VPU tracks the MSCI US Investable Market Utilities 25/50 Index while FUTY tracks the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 10 years, VPU returned 9.13%/yr vs 9.14%/yr for FUTY. With a 1.00 correlation, they move nearly in lockstep. VPU charges 0.09%/yr vs 0.08%/yr for FUTY.

Performance

VPU vs. FUTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Utilities ETF (VPU) and Fidelity MSCI Utilities Index ETF (FUTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with VPU having a 5.51% return and FUTY slightly higher at 5.54%. Both investments have delivered pretty close results over the past 10 years, with VPU having a 9.13% annualized return and FUTY not far ahead at 9.14%.

VPU

• 1D: 0.70%
• 1M: 0.53%
• YTD: 5.51%
• 6M: 6.39%
• 1Y: 14.27%
• 3Y*: 13.33%
• 5Y*: 10.01%
• 10Y*: 9.13%

FUTY

• 1D: 0.72%
• 1M: 0.56%
• YTD: 5.54%
• 6M: 6.37%
• 1Y: 14.24%
• 3Y*: 13.38%
• 5Y*: 10.05%
• 10Y*: 9.14%

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

VPU vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPU Vanguard Utilities ETF	5.51%	16.46%	23.04%	-7.45%	1.06%	17.40%	-0.74%	24.89%	4.38%	12.44%
FUTY Fidelity MSCI Utilities Index ETF	5.54%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Correlation

The correlation between VPU and FUTY is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	1.00

The correlation between VPU and FUTY has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

VPU vs. FUTY - Sectors Allocation Comparison

Sectors	VPU	FUTY
Utilities	99.3%	99.3%
Energy	0.5%	0.5%
Industrials	0.2%	0.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

VPU vs. FUTY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VPU

VPU Risk / Return Rank: 28
VPU Sharpe Ratio Rank: 29
VPU Sortino Ratio Rank: 26
VPU Omega Ratio Rank: 26
VPU Calmar Ratio Rank: 33
VPU Martin Ratio Rank: 27

FUTY

FUTY Risk / Return Rank: 28
FUTY Sharpe Ratio Rank: 29
FUTY Sortino Ratio Rank: 26
FUTY Omega Ratio Rank: 26
FUTY Calmar Ratio Rank: 33
FUTY Martin Ratio Rank: 27

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.

VPU vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) and Fidelity MSCI Utilities Index ETF (FUTY). 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.

	VPU	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	0.99	0.99	0.00
Sortino ratio: Return per unit of downside risk	1.40	1.40	+0.01
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.61	1.60	+0.01
Martin ratio: Return relative to average drawdown	3.44	3.43	+0.01

VPU vs. FUTY - Sharpe Ratio Comparison

The current VPU Sharpe Ratio is 0.99, which is comparable to the FUTY Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of VPU and FUTY, 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

VPU vs. FUTY - Drawdown Comparison

The maximum VPU drawdown since its inception was -46.31%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for VPU and FUTY.

Drawdown Indicators

	VPU	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-46.31%	-36.44%	-9.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.93%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-17.35%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-25.11%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-36.42%	-36.44%	+0.02%
Current Drawdown Current decline from peak	-5.17%	-5.14%	-0.03%
Average Drawdown Average peak-to-trough decline	-7.78%	-6.03%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	4.16%	-0.01%

Volatility

VPU vs. FUTY - Volatility Comparison

Vanguard Utilities ETF (VPU) and Fidelity MSCI Utilities Index ETF (FUTY) have volatilities of 5.20% and 5.27%, 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.

Volatility by Period

	VPU	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	5.27%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.56%	11.60%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	14.44%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	17.07%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.14%	19.06%	+0.08%

VPU vs. FUTY - Expense Ratio Comparison

VPU has a 0.09% expense ratio, which is higher than FUTY'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

VPU vs. FUTY - Dividend Comparison

VPU's dividend yield for the trailing twelve months is around 2.63%, less than FUTY's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	3.27%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
VPU Vanguard Utilities ETF	2.63%	2.73%	3.02%	3.49%	2.98%	2.70%	3.17%	2.83%	3.23%	3.18%	3.19%	3.63%

Frequently Asked Questions

Can I hold both VPU and FUTY in my portfolio?

With a correlation of 1.00, VPU and FUTY 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, VPU or FUTY?

FUTY has higher volatility (5.27%) compared to VPU (5.20%). In terms of maximum drawdown, VPU dropped -46.31% vs FUTY's -36.44%.

Which ETF is better, VPU or FUTY?

On 10-year performance, FUTY leads with 9.14% vs 9.13% for VPU. On fees, FUTY 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.

Which ETF has performed better, VPU or FUTY?

Over the 10-year period, FUTY has performed better with a 9.14% return vs 9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VPU or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.09% for VPU.

Which ETF pays a higher dividend yield, VPU or FUTY?

FUTY has the higher dividend yield at 3.27%, compared with 2.63% for VPU.

What is the main difference between VPU and FUTY?

VPU tracks MSCI US Investable Market Utilities 25/50 Index, while FUTY tracks MSCI USA IMI Utilities Index. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.09% for VPU and 0.08% for FUTY.

Which has better risk-adjusted returns?

VPU currently has the higher Sharpe Ratio (0.99 vs 0.99), 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.