FHLC — Fidelity MSCI Health Care Index ETF

FHLC Price Performance — Growth of $10,000

Value of a $10,000 investment in FHLC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FHLC Drawdown

The "underwater" chart: FHLC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity MSCI Health Care Index ETF (FHLC) operates within the Healthcare category, which ETFValuer currently tracks with 11 funds. Issued by Fidelity Investments, the fund has accumulated assets under management of $3.22 billion while trading at a price of $78.84. It holds an overall rank of #110 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 70.1 out of 100. The fund offers a low-cost structure with an expense ratio of 0.084% and provides a dividend yield of 1.32%. The combination of a substantial asset base and a competitive expense ratio suggests significant investor adoption relative to other funds in the sector. Its position as the lowest-ranked fund in its specific category indicates it trails peers in the current ranking methodology despite its broad market presence.

Over the last day, the fund posted a return of +0.56%, followed by a +0.57% gain over the one-week period. Monthly performance accelerated significantly to +5.71%, which contributed to a year-to-date return of +6.47%. The three-month horizon showed strong momentum with a +12.14% return, though the six-month figure moderated to +4.34%. Annual performance reached +23.55%, while the three-year total return stands at +29.16%. This pattern indicates a divergence where short-term gains have been robust, particularly over the one-month and three-month windows, while the six-month return reflects a period of consolidation. The long-term trajectory remains positive, with the three-year return demonstrating sustained growth despite the fluctuation seen in the intermediate six-month timeframe.

The fund carries a Moderate volatility label and exhibits a beta of 0.57, suggesting it moves less than the broader market. A Sharpe ratio of 1.22 indicates that the fund has generated a favorable amount of excess return per unit of risk taken over the measured period. The maximum drawdown recorded is -16.87%, representing the largest peak-to-trough decline experienced by the fund. This combination of a low beta and moderate volatility implies the fund tends to be less sensitive to market swings than the average equity fund. The Sharpe ratio suggests that despite the potential for drawdowns, the risk-adjusted returns have been efficient. Investors should note that while the fund has experienced a drawdown of -16.87%, the overall risk profile remains contained relative to higher-beta alternatives.

AI-generated summary based on the data on this page.

FHLC Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 50.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FHLC's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FHLC

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FHLC's top 10 — VHT overlaps most, holding 10 of the same companies as FHLC's top 10 (50.6% of FHLC's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FHLC Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.94% and average daily volume is 208K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.22B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FHLC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FHLC Performance History

How FHLC Compares to Other Healthcare ETFs