Fidelity MSCI Financials ETF (FNCL) Performance
FNCL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.1% since Dec 31, 2025
- 1 year
- +8.0% total return
- 5 years
- +8.3% a year
- 10 years
- +12.8% a year
- Since first price
- +11.5% a year since 2013
FNCL trailing returns vs SPY, QQQ, AGG
| Period | FNCL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.3% | +2.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.2% | −0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.7% | +6.9% | +7.8% | +8.4% | −1.5% |
| YTD | +3.1% | +1.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.0% | +6.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +85.7%+22.9%/yr | +76.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +49.3%+8.3%/yr | +35.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +232.3%+12.8%/yr | +171.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionOct 24, 2013 | +311.6%+11.5%/yr | +217.1% | — | — | — |
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: FNCL vs SPY
From Oct 24, 2013: FNCL grew to $41,160, SPY to $53,980.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FNCL returns by calendar year
8 of 12 full years positive. Best 2021 (+34.9%), worst 2018 (−13.4%). 2026 is year to date.
FNCL annual returns table
| Year | FNCL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.1% | −14.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +14.9% | −17.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +30.4% | −7.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.1% | −17.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −12.3% | −25.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +34.9% | −8.2% | +28.7% | +27.4% | −1.8% |
| 2020 | −2.2% | −44.4% | +18.3% | +48.6% | +7.5% |
| 2019 | +31.6% | −9.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −13.4% | −24.3% | −4.6% | −0.1% | +0.1% |
| 2017 | +20.0% | −8.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +24.3% | −15.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.7% | −12.3% | +1.2% | +9.4% | +0.5% |
| 2014 | +14.0% | −6.7% | +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.
FNCL largest drawdowns
Now 4.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2020 | −44.4% | Mar 23, 2020 | Jan 7, 2021 | 38 days | 11 months |
| Jan 12, 2022 | −25.7% | Sep 30, 2022 | Feb 23, 2024 | 9 months | 2.1 years |
| Jan 26, 2018 | −24.3% | Dec 24, 2018 | Nov 1, 2019 | 11 months | 1.8 years |
| Jul 22, 2015 | −20.9% | Feb 11, 2016 | Nov 7, 2016 | 7 months | 1.3 years |
| Feb 18, 2025 | −17.3% | Apr 8, 2025 | Jun 30, 2025 | 49 days | 4 months |
| Jan 6, 2026 | −14.8% | Mar 27, 2026 | Jul 6, 2026 | 3 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FNCL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2013 |
|---|---|---|---|---|
| Annualized return | +19.6% | +9.2% | +12.4% | +11.3% |
| Volatility (annualized) | 15.9% | 18.9% | 20.0% | 18.5% |
| Sharpe ratio | 0.94 | 0.37 | 0.57 | 0.58 |
| Sortino ratio | 1.74 | 0.57 | 0.87 | 0.88 |
| Best month | +11.6% | +12.1% | +16.4% | +16.4% |
| Worst month | −7.4% | −10.8% | −22.8% | −22.8% |
| Best 12 months | +47.9% | +47.9% | +72.3% | +72.3% |
| Worst 12 months | +0.9% | −18.0% | −19.5% | −19.5% |
| Positive months | 61% | 53% | 57% | 58% |
| Beta vs S&P 500 | 0.85 | 0.91 | 1.05 | — |
| Correlation with S&P 500 | 0.67 | 0.75 | 0.80 | — |
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.
FNCL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 145 | −19.5% | +10.5% | +72.3% | 71% |
| 3-year (a year) | 121 | −3.6% | +12.4% | +23.3% | 95% |
| 5-year (a year) | 97 | +2.6% | +10.5% | +21.2% | 100% |
| 10-year (a year) | 37 | +8.5% | +12.1% | +13.7% | 100% |
Every holding period starting at a month-end since 2013. Returns for 3 years and longer are annualized.
FNCL performance overview
Fidelity MSCI Financials ETF (FNCL) returned +8.0% over the past year and +12.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2013 it has returned +11.5% a year, turning $10,000 into about $41,160. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −44.4%, from Feb 14, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. FNCL finished 8 of its 12 full calendar years with a gain; the best year was 2021 (+34.9%) and the worst 2018 (−13.4%). Volatility has been 18.5% a year.
Related: FNCL chart, FNCL holdings, FNCL dividends, FNCL valuation. See the FNCL overview for the latest quote and fund facts.
FNCL performance FAQ
What is the FNCL return over the past year?
FNCL returned +8.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 6.2%.
What is the average annual return of FNCL?
FNCL has returned +8.3% a year over 5 years, +12.8% a year over 10 years, +11.5% a year since October 24, 2013 (total return, distributions reinvested).
How much would $10,000 invested in FNCL be worth?
$10,000 invested in FNCL at its first recorded close on October 24, 2013 would be worth about $41,160 on October 23, 2026 with distributions reinvested.
What was the worst year for FNCL?
The worst calendar year was 2018, with a total return of −13.4%. The best was 2021 at +34.9%.
What is the biggest drawdown of FNCL?
The largest peak-to-trough decline was −44.4% between February 14, 2020 and March 23, 2020. It recovered to the old high on January 7, 2021, 10 months after the bottom.
How volatile is FNCL?
Over the past 3 years FNCL had an annualized volatility of 15.9% and a Sharpe ratio of 0.94 (excess return over 1–3 month T-bills per unit of risk).