Fidelity MSCI Utilities ETF (FUTY) Valuation
FUTY valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.3 trailing earnings
- Forward P/E
- 15.4 analyst estimates
- Price / sales
- 2.74
- Price / book
- 2.04
- EV / EBITDA
- 12.1
- Earnings yield
- 5.18% inverse of P/E
- Dividend yield
- 3.02% of the holdings
- Return on equity
- 10.5% combined
- Net margin
- 14.2% combined
- Beta
- 0.57 weighted, vs S&P 500
FUTY valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| FUTY | 19.3 | 15.4 | 2.74 | 2.04 | 3.02% | 10.5% | 14.2% | 1.2% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
FUTY valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Utilities | 99.5% | 19.4 | 15.4 | 2.74 | 2.04 | 3.02% | 10.5% |
| Energy | 0.5% | 11.1 | 9.8 | 3.02 | 1.90 | 2.78% | 17.1% |
| Industrials | 0.2% | 19.5 | 16.1 | 2.88 | 1.99 | 2.50% | 10.2% |
FUTY earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How FUTY weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
FUTY largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| NEE | NextEra Energy, Inc. | 11.28% | 17.9 | 17.7 | 5.8 | 3.12% | 12.20% |
| SO | The Southern Company | 7.20% | 22.0 | 17.0 | 3.5 | 3.33% | 6.35% |
| DUK | Duke Energy Corporation | 6.83% | 18.3 | 15.9 | 2.9 | 3.57% | 7.24% |
| CEG | Constellation Energy Corporation | 5.53% | 26.5 | 20.7 | 3.1 | 0.63% | 4.04% |
| AEP | American Electric Power Company, Inc. | 4.68% | 22.0 | 17.2 | 3.0 | 2.99% | 4.11% |
| D | Dominion Energy, Inc. | 3.92% | 22.0 | 15.9 | 3.1 | 4.20% | 3.46% |
| SRE | Sempra | 3.85% | 24.1 | 14.5 | 4.0 | 3.15% | 3.10% |
| VST | Vistra Corp. | 3.30% | 25.6 | 13.3 | 2.7 | 0.61% | 2.49% |
| ETR | Entergy Corporation | 3.22% | 26.9 | 19.6 | 3.7 | 2.44% | 2.32% |
| XEL | Xcel Energy Inc. | 3.21% | 20.9 | 16.0 | 3.3 | 3.11% | 2.98% |
| EXC | Exelon Corporation | 3.08% | 16.0 | 13.7 | 1.8 | 3.86% | 3.73% |
| ED | Consolidated Edison, Inc. | 2.98% | 18.2 | 16.1 | 2.3 | 3.16% | 3.18% |
| PEG | Public Service Enterprise Group Incorporated | 2.53% | 17.8 | 15.0 | 2.8 | 3.75% | 2.75% |
| WEC | WEC Energy Group, Inc. | 2.40% | 21.1 | 16.9 | 3.5 | 3.50% | 2.21% |
| PCG | PG&E Corporation | 1.97% | 9.5 | 6.9 | 1.5 | 1.53% | 4.02% |
| AEE | Ameren Corporation | 1.94% | 18.7 | 17.5 | 3.5 | 2.83% | 2.01% |
| AWK | American Water Works Company, Inc. | 1.93% | 23.4 | 20.0 | 5.1 | 2.65% | 1.60% |
| ATO | Atmos Energy Corporation | 1.90% | 19.9 | 17.6 | 5.7 | 2.39% | 1.85% |
| DTE | DTE Energy Company | 1.86% | 20.6 | 15.6 | 1.6 | 3.59% | 1.76% |
| CNP | CenterPoint Energy, Inc. | 1.79% | 24.0 | 17.7 | 2.8 | 2.37% | 1.45% |
| PPL | PPL Corporation | 1.76% | 20.8 | 15.4 | 2.8 | 3.24% | 1.64% |
| ES | Eversource Energy | 1.73% | 17.3 | 13.3 | 1.8 | 4.71% | 1.93% |
| FE | FirstEnergy Corp. | 1.72% | 24.6 | 14.7 | 1.7 | 4.03% | 1.36% |
| EIX | Edison International | 1.56% | 5.8 | 8.2 | 1.1 | 6.28% | 5.24% |
| CMS | CMS Energy Corporation | 1.44% | 20.6 | 15.2 | 2.4 | 3.32% | 1.36% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About FUTY valuation
Adding up its 60 holdings with company data, FUTY trades at 19.3 times trailing earnings and 15.4 times analysts' forward estimates, with a price-to-book ratio of 2.04 and a dividend yield of 3.02%. Its earnings yield of 5.18% is 0.15 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 53.0% of the fund and earn 48.3% of its combined profit. By sector, Industrials is the most expensive at 19.5 times earnings and Energy the cheapest at 11.1. Companies that lost money over the past year are 1.2% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.4% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: FUTY chart, FUTY performance, FUTY holdings, FUTY dividends.
FUTY valuation FAQ
What is the P/E ratio of FUTY?
Based on its holdings, FUTY has a trailing P/E of 19.3 and a forward P/E of 15.4 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of FUTY?
The trailing earnings yield is 5.18% (1 ÷ P/E) and the forward earnings yield 6.51%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is FUTY more expensive than the S&P 500?
FUTY trades at 19.3 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 15.4 and 19.9.
What is the price-to-book ratio of FUTY?
The holdings of FUTY trade at 2.04 times book value, with a combined return on equity of 10.5%.
Which sector in FUTY has the highest P/E?
Industrials has the highest P/E at 19.5 and Energy the lowest at 11.1.