FMAT — Fidelity MSCI Materials Index ETF

FMAT Price Performance — Growth of $10,000

Value of a $10,000 investment in FMAT 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.

FMAT Drawdown

The "underwater" chart: FMAT'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 Materials Index ETF (FMAT) is a materials sector fund issued by Fidelity Investments with $574 million in assets under management. It holds an overall rank of #336 out of 458 tracked ETFs and sits at #7 of 15 within its specific category. The fund carries an ETFValuer grade of C, reflecting a score of 53.1 out of 100. Its expense ratio of 0.084% is significantly lower than the category median of 0.52%, while its dividend yield of 1.43% matches the sector average. The top ten holdings represent 56.3% of assets, with Linde PLC serving as the largest single position at 14.9%.

FMAT has delivered a one-year return of +12.73%, outperforming the category median of +10.74%. This longer-term gain contrasts with recent weakness, as the fund posted losses of -0.91% over one day and -0.41% over one week. Over the past six months, the fund declined by -4.49%, though it has recovered to a year-to-date gain of +7.29%. The current price of $57.29 places the ETF at 60.6% of its 52-week trading range. The ETFValuer grade has remained unchanged at C across the last 35 tracked days, based on 3.0 years of available price history.

The fund exhibits a beta of 0.95, indicating it moves slightly less than the broader market. Annualized volatility stands at 18.82%, which is classified as moderate, while the maximum drawdown has reached -23.17%. A Sharpe ratio of 0.41 suggests modest risk-adjusted returns relative to the risk taken. Liquidity is reflected in an average daily volume of 52,482 shares. These metrics collectively describe a fund that has experienced moderate price fluctuations and a significant historical peak-to-trough decline.

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

FMAT Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 56.3% 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 FMAT's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FMAT

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FMAT's top 10 — VAW overlaps most, holding 10 of the same companies as FMAT's top 10 (56.3% of FMAT'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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FMAT Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 52K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $574M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FMAT 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.

FMAT Performance History

How FMAT Compares to Other Materials ETFs