FTEC vs FXL: Grades, Fees and Holdings Compared

Fidelity MSCI Information Technology Index ETF

FTECANYSE Arca

First Trust Technology AlphaDEX Fund

FXLCNYSE Arca

Overlap

27.3%by weight

Expense ratio

FTEC −0.52pt a year

FTEC0.08%FXL0.60%

Avg volume · 30D

FTEC 2.1×the volume

FTEC275KFXL130K

10Y return · a year

FTEC +4.0pt

FTEC+23.7%FXL+19.7%

FTEC vs FXL Performance

Oct 29, 2021 – Oct 30, 2026

+124.8%FTEC+62.6%FXL

Expense ratio: FTEC 0.08%, better; FXL 0.60%
Fund size: FTEC $22.2B; FXL $2.68B
1Y total return: FTEC +18.5%; FXL +21.6%, better
Yield (12M): FTEC 0.40%, better; FXL 0.00%
Holdings: FTEC 291; FXL 111
Avg volume (30D): FTEC 275K sh, better; FXL 130K sh
NAV per share: FTEC $279.07; FXL $213.51
52W range

ETF.net Grade

Pillar letters and Scores for FTEC, FXL, with each pillar’s weight
Pillar	FTEC	FXL
Cost30% weight	A98Higher	D31
Mission25% weight	Not scored	Not scored
Risk15% weight	B60Higher	B56
Tradability15% weight	A88Higher	B63
Holdings10% weight	D38	A87Higher
Durability5% weight	A73Higher	B59

Rank among Technology (Broad) funds

How we build Categories ›

Same Category. FTEC and FXL are both graded against the same 23 Technology (Broad) funds, so their Grades compare head to head.

Technology (Broad)⁠

Category · 23 funds

See all 23 ›

FTEC ranks 2nd and FXL 15th of 23 funds in the Technology (Broad) Category.

Rank 1AXLKState Street Technology Select Sector SPDR ETFScore 82
Rank 2AFTECFidelity MSCI Information Technology Index ETFScore 78
Rank 3AVGTVanguard Information Technology ETFScore 71
Rank 14CIGViShares Expanded Tech-Software Sector ETFScore 53
Rank 15CFXLFirst Trust Technology AlphaDEX FundScore 51
Rank 16CPTFInvesco Dorsey Wright Technology Momentum ETFScore 40

Our read on each fund

ETF.net Research

FTECAFidelity MSCI Information Technology Index ETF

FXLCFirst Trust Technology AlphaDEX Fund

In short

FTEC Fidelity's tech sleeve runs 0.08% a year and holds about 300 names, tracking an MSCI index that reaches from mega-cap chipmakers down into small-cap software. Cheap beta on the whole US tech stack, not just the giants.

FXL A 2007-vintage tech fund that skips the cap-weighted default. Roughly 100 names selected and weighted by the rules of the StrataQuant Technology Index: smart beta before the label caught on.

Stated mandate

FTEC Seeks to track, before fees and expenses, the performance of the MSCI USA IMI Information Technology Index.

FXL Seeks investment results that correspond generally to the price and yield, before fees and expenses, of the StrataQuant® Technology equity index.

Why people hold it

FTEC At 0.08%, it ties the cheapest fund in its broad-tech group and undercuts VGT's 0.09%, against a cohort median of 0.40%. On a sector sleeve, that gap compounds quietly.
The MSCI USA IMI benchmark covers large, mid and small cap US tech, so the roughly 300 holdings stretch past the mega-cap tier alone.msci.com
Trading since 2013 and now a multi-billion-dollar fund, it sits in the top quartile of its broad technology peer group.

FXL Running since 2007 and now a multi-billion-dollar fund, it is a long-tenured rules-based take on the tech sector, not a recent launch chasing a theme.
Roughly 100 tech names in one wrapper, chosen by the StrataQuant Technology Index's published rules rather than by a manager's judgment.
The 0.60% expense ratio sits below the median for its peer group, and it is among the easier funds in that group to trade.
Stands in the upper tier of a large field of active and rules-driven US equity funds.

Worth knowing

FTEC Membership follows GICS Information Technology, so several household-name tech businesses classified into other sectors never show up here.msci.com
One sector, one story: tech moves harder than the broad market in both directions, and roughly 300 names does not soften that.
Distributions arrive quarterly, and a growth-heavy sector index is not built around payouts.

FXL At 0.60%, it costs several times what top-ranked core peers charge (DFAU at 0.12%, FELC at 0.18%). The screen carries that price gap.
One sector, about 100 stocks. Concentration like that moves in bigger steps than a broad-market fund, up and down.
Income is a side effect here: distributions land once or twice a year, not monthly or quarterly.

Full FTEC profile⁠

Full FXL profile⁠

FTEC vs FXL Holdings

How FTEC and FXL differ

Overlap by weight

27.3%

Shared holdings make up 83.3% of FTEC and 82.1% of FXL.

Level by level

Holdings92 in both27.3%
Sector5 Sectors90.9%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in FTEC and FXL, widest gap first
Sector	More in FTECMore in FXL	FTEC	FXL
Technology	FTEC +9.1 points	99.4%	90.3%
Industrials	FXL +3.7 points	0.3%	4.0%
Communication	FXL +2.9 points	0.0%	2.9%
Financials	FXL +1.7 points	0.3%	2.0%
Consumer Discretionary	FXL +0.7 points	0.1%	0.8%

Country, concentration and asset class

Country by domicile

Country weights in FTEC and FXL, widest gap first
Country	More in FTECMore in FXL	FTEC	FXL
United States	FXL +0.3 points	99.5%	99.8%
China	FTEC +0.3 points	0.3%	0.0%
Australia	FXL +0.2 points	0.0%	0.2%
Mexico	FTEC +0.2 points	0.2%	0.0%
Taiwan	Same weight	0.0%	0.0%
Singapore	Same weight	0.0%	0.0%
Hong Kong	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

FTEC63.9%
FXL17.5%

Securities held

FTEC291
FXL110

Asset class

FTEC: Equity
FXL: Equity

Holdings

Only in FTEC199
In both92
Only in FXL18

Only in FTEC

199 securities, 17.5% of FTEC by weight

Cisco Systems Inc1.67%
Intel Corp1.57%
Oracle Corp0.90%
Securities Lending Cf0.85%
Arista Networks Inc0.79%
Seagate Techn Holdings PLC0.62%
Accenture PLC Class A0.62%
Cadence Design Systems Inc0.40%
Synopsys Inc0.38%
Motorola Solutions Inc0.35%
Nxp Semiconductors NV0.30%
Lumentum Holdings Inc0.30%
Te Connectivity PLC0.29%
Keysight Technologies Inc0.26%
Autodesk Inc0.23%
Ciena Corp0.22%
Okta Inc Class A0.21%
Flex Ltd0.16%
Teledyne Technologies Inc0.16%
Strategy Inc Class A0.16%
Hp Inc0.16%
On Semiconductor Corp0.15%
Verisign Inc0.14%
State Street 60 Day Money Mark0.13%
F5 Inc0.12%
Zebra Technologies Corp Class A0.11%
First Solar Inc0.10%
Trimble Inc0.10%
Tyler Technologies Inc0.10%
Mks Inc0.09%
Guidewire Software Inc0.09%
Fair Isaac Corp0.09%
Gitlab Inc Class A0.09%
Jfrog Ltd0.09%
Unity Software Inc0.09%
Tenable Holdings Inc0.08%
Qualys Inc0.08%
Littelfuse Inc0.08%
Commvault Systems Inc0.08%
Cognex Corp0.08%
Box Inc Class A0.08%
Viasat Inc0.08%
Hubspot Inc0.08%
Ionq Inc0.08%
Interdigital Inc0.07%
Ralliant Corp0.07%
Rambus Inc0.07%
Zeta Global Holdings Corp0.07%
Fabrinet0.07%
Insight Enterprises Inc0.07%

Only in FXL

18 securities, 17.8% of FXL by weight

NIQ Global Intelligence Plc1.83%
Mobility Global Inc.1.73%
Leidos Holdings, Inc.1.47%
KBR, Inc.1.38%
Amdocs Limited1.38%
People Inc.1.33%
Maplebear Inc. (Instacart)1.23%
Science Applications International Corporation1.12%
Meta Platforms, Inc. (Class A)1.06%
Toast, Inc. (Class A)1.03%
Parsons Corporation0.78%
Alphabet Inc. (Class A)0.77%
SS&C Technologies Holdings, Inc.0.65%
DoorDash, Inc. (Class A)0.61%
GLOBALFOUNDRIES Inc.0.55%
CACI International Inc.0.35%
Match Group Inc.0.32%
Figure Technology Solutions, Inc. (Class A)0.23%

Weight gaps

All 92 Holdings in both funds, largest gap first.

Holding weights in FTEC and FXL, widest gap first
Holding	More in FTECMore in FXL	FTEC	FXL
Apple IncAAPL	FTEC +15.87 points	17.17%	1.30%
NVIDIA CorpNVDA	FTEC +15.81 points	16.93%	1.12%
Microsoft CorpMSFT	FTEC +10.92 points	11.88%	0.96%
Broadcom IncAVGO	FTEC +3.58 points	4.16%	0.58%
Micron Technology IncMU	FTEC +2.99 points	4.03%	1.04%
Advanced Micro Devices IncAMD	FTEC +2.23 points	3.52%	1.29%
Epam Systems IncEPAM	FXL +1.95 points	0.08%	2.03%
Ringcentral Inc Class ARNG	FXL +1.63 points	0.08%	1.71%
Cognizant Tech Solutions Class ACTSH	FXL +1.62 points	0.16%	1.78%
Ptc IncPTC	FXL +1.61 points	0.14%	1.75%
Sentinelone IncS	FXL +1.58 points	0.08%	1.66%
Rubrik IncRBRK	FXL +1.56 points	0.14%	1.70%
Zoom Communications Inc Class AZM	FXL +1.52 points	0.13%	1.65%
Atlassian Corp PLC Cls ATEAM	FXL +1.51 points	0.17%	1.68%
Roper Technologies IncROP	FXL +1.45 points	0.22%	1.67%
Universal Display CorpOLED	FXL +1.32 points	0.05%	1.37%
Everpure Inc-AP	FXL +1.30 points	0.22%	1.52%
Netapp IncNTAP	FXL +1.28 points	0.21%	1.49%
Elastic NVESTC	FXL +1.25 points	0.08%	1.33%
Gen Digital IncGEN	FXL +1.14 points	0.10%	1.24%
Super Micro Computer IncSMCI	FXL +1.15 points	0.11%	1.26%
Dynatrace IncDT	FXL +1.14 points	0.11%	1.25%
Sanmina CorpSANM	FXL +1.14 points	0.07%	1.21%
Mongodb Inc Class AMDB	FXL +1.12 points	0.15%	1.27%
Cirrus Logic IncCRUS	FXL +1.09 points	0.06%	1.15%
Applied Materials IncAMAT	FTEC +1.07 points	1.31%	0.24%
Docusign IncDOCU	FXL +1.03 points	0.12%	1.15%
Ingram Micro Holding CorpINGM	FXL +1.00 points	<0.01%	1.00%
Snowflake IncSNOW	FXL +0.95 points	0.46%	1.41%
Samsara IncIOT	FXL +0.94 points	0.10%	1.04%
Twilio Inc Class ATWLO	FXL +0.92 points	0.18%	1.10%
Cloudflare IncNET	FXL +0.85 points	0.42%	1.27%
Fortinet IncFTNT	FXL +0.82 points	0.37%	1.19%
Semtech CorpSMTC	FXL +0.80 points	0.10%	0.90%
Intuit IncINTU	FXL +0.79 points	0.37%	1.16%
Lam Research CorpLRCX	FTEC +0.78 points	1.24%	0.46%
Sitime CorpSITM	FXL +0.79 points	0.07%	0.86%
Workday Inc Class AWDAY	FXL +0.79 points	0.19%	0.98%
Jabil IncJBL	FXL +0.74 points	0.15%	0.89%
Kyndryl Holdings IncKD	FXL +0.73 points	0.04%	0.77%
Datadog Inc Class ADDOG	FXL +0.72 points	0.36%	1.08%
Manhattan Associates IncMANH	FXL +0.68 points	0.10%	0.78%
Godaddy Inc Class AGDDY	FXL +0.67 points	0.10%	0.77%
Formfactor IncFORM	FXL +0.67 points	0.07%	0.74%
Amkor Technology IncAMKR	FXL +0.66 points	0.05%	0.71%
Dell Technologies Inc Class CDELL	FXL +0.65 points	0.59%	1.24%
Kla CorpKLAC	FTEC +0.62 points	0.87%	0.25%
Uipath Inc APATH	FXL +0.61 points	0.06%	0.67%
Appfolio Inc - AAPPF	FXL +0.61 points	0.06%	0.67%
Dolby Laboratories Inc Class ADLB	FXL +0.60 points	0.06%	0.66%
Zscaler IncZS	FXL +0.61 points	0.14%	0.75%
Monolithic Power Sys IncMPWR	FXL +0.60 points	0.25%	0.85%
Ttm Technologies IncTTMI	FXL +0.58 points	0.06%	0.64%
Intl Bus Mach CorpIBM	FTEC +0.57 points	0.94%	0.37%
Adobe IncADBE	FXL +0.57 points	0.41%	0.98%
Digitalocean Holdings IncDOCN	FXL +0.56 points	0.07%	0.63%
Qualcomm IncQCOM	FTEC +0.51 points	0.79%	0.28%
Astera Labs IncALAB	FXL +0.49 points	0.19%	0.68%
Arrow Electronics IncARW	FXL +0.49 points	0.09%	0.58%
Nutanix Inc Class ANTNX	FXL +0.48 points	0.12%	0.60%
Analog Devices IncADI	FXL +0.47 points	0.85%	1.32%
Palantir Technologies IncPLTR	FTEC +0.45 points	1.68%	1.23%
Crowdstrike Holdings IncCRWD	FXL +0.44 points	1.04%	1.48%
Teradyne IncTER	FXL +0.43 points	0.21%	0.64%
Macom Technology Soln Hlds IncMTSI	FXL +0.42 points	0.10%	0.52%
Microchip TechnologyMCHP	FXL +0.41 points	0.21%	0.62%
Lattice Semiconductor CorpLSCC	FXL +0.37 points	0.09%	0.46%
Amphenol Corporation Class AAPH	FXL +0.37 points	0.81%	1.18%
Credo Technology Group Hol LtdCRDO	FXL +0.35 points	0.14%	0.49%
Procore Technologies IncPCOR	FXL +0.30 points	0.07%	0.37%
Coherent CorpCOHR	FXL +0.28 points	0.18%	0.46%
Gartner IncIT	FXL +0.27 points	0.11%	0.38%
Pegasystems IncPEGA	FXL +0.28 points	0.04%	0.32%
Dropbox Inc Class ADBX	FXL +0.27 points	0.07%	0.34%
Cdw CorporationCDW	FXL +0.25 points	0.13%	0.38%
Palo Alto Networks IncPANW	FXL +0.22 points	1.22%	1.44%
Allegro Microsystems IncALGM	FXL +0.21 points	0.05%	0.26%
Western Digital CorpWDC	FXL +0.21 points	0.55%	0.76%
Avnet IncAVT	FXL +0.21 points	0.07%	0.28%
Marvell Technology IncMRVL	FXL +0.18 points	0.75%	0.93%
Akamai Technologies IncAKAM	FXL +0.18 points	0.09%	0.27%
Iren LtdIREN	FXL +0.18 points	<0.01%	0.18%
Td Synnex CorpSNX	FXL +0.18 points	0.11%	0.29%
Entegris IncENTG	FXL +0.17 points	0.14%	0.31%
Corning IncGLW	FTEC +0.17 points	0.42%	0.25%
Skyworks Solutions IncSWKS	FXL +0.15 points	0.17%	0.32%
Sandisk CorporationSNDK	FTEC +0.15 points	0.77%	0.62%
Onto Innovation IncONTO	FXL +0.14 points	0.07%	0.21%
Salesforce IncCRM	FTEC +0.12 points	0.75%	0.63%
Texas Instruments IncTXN	FTEC +0.12 points	1.13%	1.01%
Hewlett Packard Enterprise CoHPE	FTEC +0.07 points	0.34%	0.27%
Servicenow IncNOW	FXL +0.04 points	0.45%	0.49%

All 294 FTEC holdings⁠All 110 FXL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTEC vs FXL Cost

Overpaying FXL vs FTEC

$10,044

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

FTEC 0.084%
$1,773
FXL 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

FTEC 0.084%
FXL 0.60%
Overpaying

Year by year

Year	FTEC	FXL	Overpaying
10	$154	$1,076	$922
20	$603	$4,116	$3,513
30	$1,773	$11,817	$10,044

Expense ratio

0.08%FTEC, cheaper
0.60%FXL

FTEC0.08%FXL0.60%

0.08%1.00%

Middle half of Technology (Broad) funds
Median 0.45%

FTEC 2nd cheapest of 23 funds

FXL 16th cheapest of 23 funds

FTEC vs FXL Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FTEC 0.40%, better; FXL 0.00%
Payout (12M): FTEC $1.11; FXL None
Last payment: FTEC $0.33; FXL No data
Ex-dividend: FTEC Sep 18, 2026; FXL No data
Paid on: FTEC Sep 22, 2026; FXL No data
Frequency: FTEC Quarterly; FXL No data

Distribution history

Per share, 2017 to 2026, same scale for both

FTECQuarterly · 39 paymentsAll FTEC payments⁠

FXL27 paymentsAll FXL payments⁠

FTEC vs FXL Risk

Fall from peak · 5 years

FTEC
FXL

Risk facts

VolatilityStd dev, 3 years: FTEC 22.3%FXL 20.9%, better
Return per unit of riskSharpe ratio, 3 years: FTEC 1.19, betterFXL 1.03
Worst fallMax drawdown, 5 years: FTEC −35.0%, betterFXL −38.5%
Market sensitivityBeta, 5 years: FTEC 1.35FXL 1.26; Market = 1

FTEC and FXL in the news

All news⁠

Category Review
Equal-weight technology beat the biggest tech funds this year
Updated Oct 26, 2026FTEC
Deep Dive
An equal-weight technology ETF beat the cap-weighted fund by 9.3 percentage points
Sep 28, 2026FTEC

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