FCOM vs RSPC

FCOMBFidelity MSCI Communication Services Index ETF

RSPCDInvesco S&P 500 Equal Weight Communication Services 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.

RSPC Communication services, minus the megacap gravity. RSPC equal-weights the sector's S&P 500 members, so a legacy telecom gets the same slice as the biggest platform. Same sector, very different shape.

Stated mandate

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

RSPC The fund is based on the S&P 500 Equal Weight Communication Services Plus Index and invests in companies classified in the communication services sector within the S&P 500.

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.

• RSPC Equal weight by design: each rebalance resets every holding to the same slice, so the sector's giants don't set the tone the way they do in cap-weighted funds.
• The hunting ground is the S&P 500's communication services names, so it's large, established US companies picked by index rules rather than a manager's hunches.
• Running since 2018 as part of Invesco's equal-weight S&P 500 sector lineup, so the machinery has been through a full market cycle.
• Distributions land on a quarterly schedule, the standard rhythm for an equity sector fund.

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.

• RSPC 0.40% a year sits above the category norm and is several times the 0.08% to 0.09% charged by cap-weighted rivals XLC, FCOM and VOX.
• Trading is thin for the category, which can mean wider spreads and more care needed on bigger orders than with the sector's household-name funds.
• Around two dozen holdings: equal weighting spreads the dollars, but communication services is a narrow sector, so one company's stumble still lands.

Full FCOM profile⁠

Full RSPC profile⁠