FNCL — Fidelity MSCI Financials Index ETF

FNCL Price Performance — Growth of $10,000

Value of a $10,000 investment in FNCL 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.

FNCL Drawdown

The "underwater" chart: FNCL'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 Financials Index ETF is a Financial category fund issued by Fidelity Investments with $2.40 billion in assets under management. It holds an overall rank of #253 out of 458 tracked ETFs and sits at #5 of 9 within its specific category. The fund carries an ETFValuer grade of C, reflecting a score of 58.3 out of 100. Its expense ratio of 0.084% is notably lower than the category median of 0.35%, while its dividend yield of 1.54% trails the median of 1.65%. The top ten holdings comprise 47.6% of assets, with JPMorgan Chase & Co representing the largest single position at 10.1%.

The fund's price of $81.14 places it at 85.8% of its 52-week range, indicating a position near the upper end of recent trading levels. Short-term performance shows a decline over the last month at -1.27%, contrasting with a stronger three-month gain of +9.03% and a year-to-date increase of +5.04%. Over the longer term, the one-year return of +8.85% lags behind the category median of +10.98%, though the three-year return stands at +73.96%. The ETFValuer grade has remained unchanged at C across the last 35 tracked days. Historical data is available for 3.0 years, providing a limited but established record for analysis.

With a beta of 0.78, the fund has exhibited less sensitivity to market movements than the broader market. Annualized volatility of 14.79% is classified as Low, suggesting a relatively stable price path compared to more turbulent peers. The Sharpe ratio of 0.26 indicates modest risk-adjusted returns relative to the risk taken. Maximum drawdowns have reached -17.29%, highlighting the extent of recent peak-to-trough declines. Liquidity is characterized by an average daily volume of 98,309 shares and a bid-ask spread of 2.01%, which may impact trading efficiency for larger orders.

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

FNCL Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 47.6% 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 FNCL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FNCL

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FNCL's top 10 — XLF overlaps most, holding 10 of the same companies as FNCL's top 10 (47.6% of FNCL'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: 4.80% (as of 2026-09-08) — 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): 15.72 (as of 2026-09-08) — 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 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FNCL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 2.01% and average daily volume is 98K/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 $2.40B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FNCL 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.

FNCL Performance History

How FNCL Compares to Other Financial ETFs