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) operates within the Financial category, which currently contains 9 ETFs tracked by ETFValuer. Issued by Fidelity Investments, the fund manages $2.23 billion in assets and trades at a price of $79.52. It holds an overall rank of #259 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 58.6 out of 100. The fund charges an expense ratio of 0.084% while offering a dividend yield of 1.65%. The combination of a mid-tier rank and a substantial asset base suggests moderate investor adoption relative to the broader universe of funds. Its cost structure remains competitive within the sector, though the overall grade reflects a mixed performance profile compared to the full dataset.

Short-term returns show a decline over the last day at -0.46% and a further drop of -1.89% over the past week. However, the fund reversed this trend to post gains of +3.62% over one month and +7.05% over three months. Year-to-date performance stands at +2.94%, while the one-year return reached +8.00%. A significant acceleration is evident in the longer-term data, with the three-year return climbing to +68.70%. This pattern indicates a divergence where recent short-term weakness contrasts sharply with strong multi-year growth. The fund's trajectory suggests that while recent market conditions have caused temporary pullbacks, the longer horizon has delivered substantial appreciation.

The fund carries a Low volatility label and a beta of 0.83, indicating that its price movements have historically been less sensitive to broad market fluctuations. A Sharpe ratio of 0.20 suggests that the risk-adjusted returns generated have been modest relative to the volatility experienced. The maximum drawdown of -17.29% represents the largest peak-to-trough decline recorded for the fund. This combination of figures implies that while the fund tends to move less aggressively than the market, it has still experienced significant drawdowns during adverse periods. The low beta and volatility label suggest a defensive posture, yet the Sharpe ratio indicates that the compensation for this risk has been limited in recent periods.

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: 4.71% (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.

FNCL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.95% and average daily volume is 104K/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 $2.23B 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