FCOM vs FDCF

FCOMBFidelity MSCI Communication Services Index ETF

FDCFDFidelity Disruptive Communications ETF

In short

FCOM Communication services without the mega-cap chokehold: FCOM tracks an MSCI index that reaches past the giants into mid and small caps, with 25/50 caps on the biggest names, for 0.08% a year.

FDCF Most communication services ETFs hand you the same megacap index. FDCF goes hunting instead: a global, roughly 40-stock portfolio of companies picked for disrupting how the world connects.

Stated mandate

FCOM The fund seeks to track the performance of the MSCI USA IMI Communication Services 25/50 Index.

FDCF The fund seeks long-term growth of capital and normally invests at least 80% of its assets in securities of disruptive communications companies.

Why people hold it

• FCOM 0.08% a year against a 0.37% median for the group: level with XLC, a hair under VOX.
• About 110 holdings through MSCI's investable market index, so mid and small cap media and telecom names ride along, not just the household giants.
• The index's 25/50 caps limit how heavy any single position can get, a guardrail in a sector where a few names carry most of the weight.
• Running since 2013 in Fidelity's index lineup, and it has tracked its benchmark closely, one of the stronger implementations in its peer group.

• FDCF The mandate is literal: at least 80% of assets in disruptive communications companies, held in a concentrated book of roughly 40 names.fidelity.com
• Global by charter, not a US-only sleeve, which widens the opportunity set beyond the domestic sector benchmarks that dominate this corner of the market.
• What's inside matches what's on the label: the holdings read like a communications-disruption fund, not a sector tracker wearing a theme sticker.
• Fidelity has run it since 2020, so the strategy has a multi-year record behind the pitch rather than a brand-new launch.

Worth knowing

• FCOM Communication services is a narrow slice of the market, and the same handful of search, streaming and telecom giants dominate it however the weights are capped.
• Moderately traded rather than the category's volume leader, so spreads can run wider than at the busiest fund on the shelf.
• Distributions arrive quarterly, and the mandate is sector exposure, not income.

• FDCF You pay for the stock picking: 0.50% a year, against 0.08% for plain index peers like XLC and FCOM and a 0.37% median across the group.
• About 40 holdings in a single theme means individual names carry real weight, and the ride can look nothing like a broad communication services index.
• Trades thinly and runs small next to the category's giants, so the quoted spread deserves a closer look than it would on a mega-fund.

Full FCOM profile⁠

Full FDCF profile⁠