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Launched · SEC filings

Fidelity MSCI Financials Index ETF

FNCLNYSE ArcaFidelityA

$81.34+1.40 (+1.75%)

At close: Nov 2, 2026, 4:00 PM ET

A76/ 100

Rank 2 of 18 in Financials (Broad)

A76/100Rank 2 of 18inFinancials (Broad)
Intraday session: up, 79 prints from 79.94 to 81.34. Range 80.49 to 81.61. Use the arrow keys to read each point.80.2580.5080.7581.0010 AM12 PM2 PM4 PM
Expense ratio
0.08%
Fund size
$2.24B
1Y total return
+9.6%
Yield · Last 12 months
1.61%
Holdings
386
Avg volume · 30D
123K sh
52W range
low $67.76high $83.35
Launched
Filings
SEC EDGAR

The ETF.net FNCL Grade

A

Score 76 out of 100

Category
Financials (Broad)⁠
Rank
2 of 18
Six-pillar profile for FNCL. Scores out of 100: Cost 97, Risk 53, Mission 81, Tradability 71, Holdings 54, Durability 56. Strongest: Cost (97). Weakest: Risk (53). Leans toward Cost.

Score 76 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A97 out of 100
    Rank 1 of 18

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A81 out of 100
    Rank 5 of 10

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C53 out of 100
    Rank 11 of 18

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A71 out of 100
    Rank 4 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C54 out of 100
    Rank 11 of 18

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B56 out of 100
    Rank 9 of 18

Our read on FNCL

ETF.net Research

In short

AThe whole financial food chain in one cheap wrapper: FNCL tracks an MSCI index of about 400 US banks, insurers, exchanges and payment names for 0.08% a year.

Stated mandate

The fund seeks to track, before fees and expenses, the performance of the MSCI USA IMI Financials Index.

Why people hold it

  • Costs 0.08% a year, against a median near 0.44% for broad financials funds. That is the cheapest tier in the category, matched by XLF and undercutting VFH.
  • About 400 holdings under the MSCI USA IMI Financials mandate, so the basket reaches well past the megabank tier into smaller lenders and insurers.
  • Pure index plumbing: it has tracked its benchmark tightly, one of the closer fits in its peer group, and it pays out quarterly.
  • Running since 2013, with a real multi-cycle record behind the ticker rather than a launch-week backtest.

Worth knowing

  • This is one slice of the market. Financials live and die by rates, credit and lending cycles, so the ride is bumpier than a total-market fund.
  • Volume is moderate rather than heavy. XLF trades far more actively, so limit orders matter more here, especially in fast markets.

FNCL Holdings

Holdings pillarC54 out of 100Rank 11 of 18 in Financials (Broad)
Asset class
Stocks
Holdings
386
Top-10 weight
49%
Largest holding
JPM10.2%

Sectors

  • Financials97.1%
  • Technology1.9%
  • Real Estate0.6%
  • Industrials0.2%
  • Health Care0.1%
  • Consumer Discretionary0.0%

Geography

  • United States98.58%
  • Switzerland1.42%
The fund’s holdings, weight-ordered — page 1 of 26.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1JPMJPMorgan Chase & Co10.22%692,653$238M487
2BRK.BBerkshire Hathaway Inc Class B8.56%367,491$199M374
3VVisa Inc Class A7.63%432,475$178M559
4MAMastercard Inc Class A5.77%211,386$134M531
5BACBank of America Corporation3.72%1,691,517$86.5M433
6GSGoldman Sachs Group Inc3.06%76,870$71.3M396
7WFCWells Fargo & Co2.88%789,145$66.9M377
8MSMorgan Stanley2.51%307,207$58.4M425
9CCitigroup Inc2.40%444,427$55.9M413
10BLKBlackRock Inc1.94%38,374$45.1M324
11AXPAmerican Express Co1.92%137,796$44.6M377
12SCHWSchwab Charles Corp1.65%430,506$38.5M399
13SPGIS&P Global Inc1.56%78,989$36.4M375
14PGRProgressive Corp Ohio1.51%152,267$35M393
150VQD.LChubb Ltd1.42%90,964$33M54

Showing 1–15 of 386 holdings

FNCL Performance

Launched Oct 21, 2013

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FNCL$10,964
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FNCL $10,964. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FNCL. Periods over one year show the average yearly return.
PeriodFNCL
Year to date+4.3%
1 month+5.6%
3 months−1.0%
1 year+9.6%
3 yearsper year+23.0%
5 yearsper year+8.8%
10 yearsper year+12.9%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FNCL
YearReturn barFNCL
2026 YTD+4.3%
2025+14.9%
2024+30.4%
2023+14.1%
2022−12.3%
2021+35.0%
2020−2.1%

FNCL in the news

FNCL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.61%Last 12 months
Payout per share
$1.29Last 12 months
Last payment
$0.31 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.14; Jun 16, 2017 $0.16; Sep 15, 2017 $0.18; Dec 15, 2017 $0.18; Mar 16, 2018 $0.19; Jun 15, 2018 $0.20; Sep 21, 2018 $0.20; Dec 21, 2018 $0.23; Mar 15, 2019 $0.24; Jun 21, 2019 $0.23; Sep 20, 2019 $0.27; Dec 20, 2019 $0.23; Mar 20, 2020 $0.29; Jun 19, 2020 $0.23; Sep 18, 2020 $0.22; Dec 18, 2020 $0.22; Mar 19, 2021 $0.22; Jun 18, 2021 $0.23; Sep 17, 2021 $0.26; Dec 17, 2021 $0.27; Mar 18, 2022 $0.27; Jun 17, 2022 $0.28; Sep 16, 2022 $0.28; Dec 16, 2022 $0.27; Mar 17, 2023 $0.28; Jun 16, 2023 $0.27; Sep 15, 2023 $0.24; Dec 15, 2023 $0.23; Mar 15, 2024 $0.26; Jun 21, 2024 $0.25; Sep 20, 2024 $0.27; Dec 20, 2024 $0.27; Mar 21, 2025 $0.30; Jun 20, 2025 $0.28; Sep 19, 2025 $0.28; Dec 19, 2025 $0.27; Mar 20, 2026 $0.40; Jun 18, 2026 $0.31; Sep 18, 2026 $0.31. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.31
Jun 18, 2026Jun 23, 2026$0.31
Mar 20, 2026Mar 24, 2026$0.40
Dec 19, 2025Dec 23, 2025$0.27
Sep 19, 2025Sep 23, 2025$0.28
Jun 20, 2025Jun 24, 2025$0.28
Mar 21, 2025Mar 25, 2025$0.30
Dec 20, 2024Dec 24, 2024$0.27
Sep 20, 2024Sep 24, 2024$0.27
Jun 21, 2024Jun 25, 2024$0.25
Mar 15, 2024Mar 20, 2024$0.26
Dec 15, 2023Dec 20, 2023$0.23

See all 55 payments⁠

$10,000 in FNCL 10 years ago paid $3,394 in dividends.⁠

FNCL Risk

Risk pillarC53 out of 100Rank 11 of 18 in Financials (Broad)
How much the fund’s monthly returns vary, scaled to a year.
15.8%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.11
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−25.7%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.92
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FNCL Cost

Compare FNCL and XLF

Overpaying vs XLF, cheapest in Financials (Broad)

$84

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FNCL 0.084%

    $1,773

  • XLF 0.08% Cheapest

    $1,689

$10,000
30 years

Cost over time

  • FNCL 0.084%
  • XLF 0.08%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K051015202530FNCL $1,773XLF $1,689

Year by year

YearFNCLXLFOverpaying
10$154$147$7
20$603$575$28
30$1,773$1,689$84

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