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 (FNCL) is a Financial category fund issued by Fidelity Investments with $2.24 billion in assets under management. It holds an ETFValuer grade of C, reflecting a score of 61.8 out of 100, and ranks 7th out of 9 peers in its category. The fund’s expense ratio of 0.084% is significantly lower than the category median of 0.35%, while its dividend yield of 1.63% trails the median of 1.73%. Top holdings comprise 48.4% of assets, with JPMorgan Chase & Co representing the largest single position at 10.4%.

Price action shows the ETF trading at $79.09, which sits at 72.7% of its 52-week range between $67.76 and $83.35. Short-term returns have been mixed, with a 1-day decline of 1.36% contrasting against a 1-week gain of 0.83% and a 1-month increase of 2.40%. Over longer horizons, the fund posted a 1-year return of 8.35%, slightly below the category median of 8.65%, while the 3-year return stands at 85.89%. The rating has remained unchanged at grade C across the last 35 tracked days, and price history is available for 3.0 years.

The fund exhibits a beta of 0.82, indicating it moves less than the broader market, and carries an annualized volatility of 14.62%, which is labeled as Low. A Sharpe ratio of 0.23 suggests modest risk-adjusted performance, while the maximum drawdown reached -17.29%. Liquidity is supported by an average daily volume of 128,634 shares. These metrics collectively describe a fund that has experienced moderate downside pressure but maintains relatively stable price movements compared to market benchmarks.

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

FNCL Top Holdings

Holdings as of 2026-07-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 48.4% 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 (48.4% 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: 4.96% (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.

FNCL Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 129K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $2.24B 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