FUTY vs PUI

FUTYAFidelity MSCI Utilities Index ETF

PUIDInvesco Dorsey Wright Utilities Momentum ETF

In short

FUTY The whole US power grid in one ticker. Fidelity tracks an all-cap MSCI utilities index, so mid- and small-cap operators ride along with the mega-cap names, at 0.08% a year.

PUI Utilities, ranked by price trend. Since 2005 PUI has run on Dorsey Wright's relative-strength screen: a concentrated set of utilities picked for momentum, reshuffled quarterly, while the category's giants own the sector by size.

Stated mandate

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

PUI The mandate follows a modified market-capitalization-weighted index of utility-sector stocks selected for strong relative-strength characteristics, with the methodology emphasizing momentum.

Why people hold it

• FUTY Costs 0.08% a year against a 0.37% median for broad utilities funds. That ties XLU on price and edges out VPU.
• The MSCI USA IMI Utilities Index reaches past the S&P 500 giants into mid- and small-cap utilities, roughly 70 names of power, gas and water.fidelity.com
• Plain index replication, running since 2013, with tracking that has stayed tight to the benchmark. No swaps, no options overlay, no clever wrapper.fidelity.com
• A multi-billion-dollar fund from a major issuer that pays out quarterly, and one of the stronger builds in the utilities group.

• PUI The technical take on the sector: the index picks utility stocks on relative strength, not size, and the fund and index are rebalanced and reconstituted quarterly.invesco.com
• One of the longest-running factor plays in utilities, listed in 2005 and still built on the same Dorsey Wright Utilities Technical Leaders Index.
• Tight rules: normally at least 90% of assets in index constituents, from an index holding no fewer than 30 utility names. Distributions come quarterly.invesco.com

Worth knowing

• FUTY This is one sector, about 70 stocks. When utilities are out of favor, there is nowhere in the portfolio to hide.
• Moderately traded rather than the category's busiest tape, so limit orders are the sane habit on larger tickets.
• The all-cap reach cuts both ways: smaller utilities in the mix behave differently from the household-name giants that dominate S&P 500-only rivals.

• PUI 0.60% net of a waiver through August 31, 2028 (0.82% before it), above the category median and above cap-weighted utilities like XLU at 0.08% or FUTY at 0.084%.
• Among the smaller and less-traded funds in its category, which can mean wider bid-ask spreads and more attention to how orders get entered.
• Concentration is the mechanism: a few dozen momentum leaders can look very different from the full sector, and the quarterly reshuffle keeps turnover coming.invesco.com

Full FUTY profile⁠

Full PUI profile⁠