Fidelity MSCI Materials ETF (FMAT) Performance
FMAT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.0% since Dec 31, 2025
- 1 year
- +11.6% total return
- 5 years
- +5.7% a year
- 10 years
- +9.8% a year
- Since first price
- +8.5% a year since 2013
FMAT trailing returns vs SPY, QQQ, AGG
| Period | FMAT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.5% | +0.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −3.8% | −4.4% | +7.8% | +8.4% | −1.5% |
| YTD | +9.0% | +7.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.6% | +10.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +44.3%+13.0%/yr | +37.5% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +31.7%+5.7%/yr | +20.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +153.8%+9.8%/yr | +112.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionOct 24, 2013 | +187.1%+8.5%/yr | +126.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMAT vs SPY
From Oct 24, 2013: FMAT grew to $28,712, SPY to $53,980.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMAT returns by calendar year
9 of 12 full years positive. Best 2021 (+27.5%), worst 2018 (−17.4%). 2026 is year to date.
FMAT annual returns table
| Year | FMAT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.0% | −13.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.1% | −18.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +0.5% | −12.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +13.7% | −13.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.5% | −25.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +27.5% | −10.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +19.6% | −38.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +23.3% | −10.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −17.4% | −26.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +23.5% | −4.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +21.1% | −12.6% | +12.0% | +7.1% | +2.4% |
| 2015 | −10.0% | −23.8% | +1.2% | +9.4% | +0.5% |
| 2014 | +5.8% | −12.1% | +13.5% | +19.2% | +6.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMAT largest drawdowns
Now 7.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −41.1% | Mar 23, 2020 | Sep 1, 2020 | 2.2 years | 2.6 years |
| Feb 24, 2015 | −27.2% | Jan 25, 2016 | Nov 15, 2016 | 11 months | 1.7 years |
| Apr 20, 2022 | −25.4% | Sep 26, 2022 | Feb 29, 2024 | 5 months | 1.9 years |
| Oct 18, 2024 | −23.2% | Apr 8, 2025 | Dec 26, 2025 | 6 months | 1.2 years |
| Feb 27, 2026 | −13.5% | Mar 20, 2026 | not yet | 21 days | 8 months so far |
| Sep 5, 2014 | −12.1% | Oct 13, 2014 | Feb 12, 2015 | 38 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMAT risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +9.8% | +6.5% | +9.3% | +8.3% |
| Volatility (annualized) | 17.4% | 20.3% | 19.7% | 19.1% |
| Sharpe ratio | 0.37 | 0.24 | 0.43 | 0.42 |
| Sortino ratio | 0.56 | 0.35 | 0.65 | 0.64 |
| Best month | +8.8% | +11.1% | +15.6% | +15.6% |
| Worst month | −11.1% | −14.4% | −15.3% | −15.3% |
| Best 12 months | +27.1% | +27.1% | +83.8% | +83.8% |
| Worst 12 months | −6.2% | −12.5% | −20.3% | −20.3% |
| Positive months | 58% | 53% | 61% | 59% |
| Beta vs S&P 500 | 0.78 | 0.97 | 1.06 | — |
| Correlation with S&P 500 | 0.56 | 0.75 | 0.82 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMAT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 145 | −20.3% | +8.8% | +83.8% | 68% |
| 3-year (a year) | 121 | −5.2% | +8.4% | +25.2% | 98% |
| 5-year (a year) | 97 | −0.5% | +9.0% | +16.6% | 99% |
| 10-year (a year) | 37 | +7.3% | +8.8% | +12.4% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
FMAT performance overview
Fidelity MSCI Materials ETF (FMAT) returned +11.6% over the past year and +9.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +8.5% a year, turning $10,000 into about $28,712. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −41.1%, from Jan 26, 2018 to Mar 23, 2020, and it took 5 months to get back to the old high. FMAT finished 9 of its 12 full calendar years with a gain; the best year was 2021 (+27.5%) and the worst 2018 (−17.4%). Volatility has been 19.1% a year.
Related: FMAT chart, FMAT holdings, FMAT dividends, FMAT valuation. See the FMAT overview for the latest quote and fund facts.
FMAT performance FAQ
What is the FMAT return over the past year?
FMAT returned +11.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.0%.
What is the average annual return of FMAT?
FMAT has returned +5.7% a year over 5 years, +9.8% a year over 10 years, +8.5% a year since October 24, 2013 (total return, distributions reinvested).
How much would $10,000 invested in FMAT be worth?
$10,000 invested in FMAT at its first recorded close on October 24, 2013 would be worth about $28,712 on October 23, 2026 with distributions reinvested.
What was the worst year for FMAT?
The worst calendar year was 2018, with a total return of −17.4%. The best was 2021 at +27.5%.
What is the biggest drawdown of FMAT?
The largest peak-to-trough decline was −41.1% between January 26, 2018 and March 23, 2020. It recovered to the old high on September 1, 2020, 5 months after the bottom.
How volatile is FMAT?
Over the past 3 years FMAT had an annualized volatility of 17.4% and a Sharpe ratio of 0.37 (excess return over 1–3 month T-bills per unit of risk).