FUTY vs VPU: Grades, Fees and Holdings Compared

Fidelity MSCI Utilities Index ETF

FUTYANYSE Arca

Vanguard Utilities ETF

VPUBNYSE Arca

Overlap

98.0%by weight

Expense ratio

FUTY −0.01pt a year

FUTY0.08%VPU0.09%

Avg volume · 30D

FUTY 1.6×the volume

FUTY485KVPU313K

10Y return · a year

FUTY +0.1pt

FUTY+9.1%VPU+9.0%

FUTY vs VPU Performance

Oct 29, 2021 – Oct 30, 2026

+49.7%FUTY+49.3%VPU

Expense ratio: FUTY 0.08%, better; VPU 0.09%
Fund size: FUTY $2.03B; VPU $9.5B
1Y total return: FUTY −0.1%; VPU −0.1%
Yield (12M): FUTY 2.73%; VPU 2.77%, better
Holdings: FUTY 67; VPU 71
Avg volume (30D): FUTY 485K sh, better; VPU 313K sh
NAV per share: FUTY $55.98; VPU $187.56
52W range

ETF.net Grade

Pillar letters and Scores for FUTY, VPU, with each pillar’s weight
Pillar	FUTY	VPU
Cost30% weight	A90Higher	A72
Mission25% weight	A88	A88
Risk15% weight	C44Higher	D39
Tradability15% weight	A83Higher	C53
Holdings10% weight	C50Higher	C47
Durability5% weight	B57	A83Higher

Rank among Utilities (Broad) funds

How we build Categories ›

Same Category. FUTY and VPU are both graded against the same 10 Utilities (Broad) funds, so their Grades compare head to head.

Utilities (Broad)⁠

Category · 10 funds

See all 10 ›

FUTY ranks 1st and VPU 3rd of 10 funds in the Utilities (Broad) Category.

Rank 1AFUTYFidelity MSCI Utilities Index ETFScore 75
Rank 1AXLUState Street Utilities Select Sector SPDR ETFScore 75
Rank 3BVPUVanguard Utilities ETFScore 66
Rank 4BJXIiShares Global Utilities ETFScore 60

Our read on each fund

ETF.net Research

FUTYAFidelity MSCI Utilities Index ETF

VPUBVanguard Utilities 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.

VPU Utilities, the whole sector, not just the S&P 500 slice. VPU tracks an index that reaches past the megacap names into mid and small utilities, about 70 in all, for 0.09% a year. Vanguard has run it since 2004.

Stated mandate

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

VPU The fund seeks to track the MSCI US Investable Market Utilities 25/50 Index through a primarily full-replication, passively managed strategy.

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.

VPU At 0.09% a year, it costs roughly a quarter of the median utilities fund fee. In a sector where the holdings barely differ between funds, the fee is most of the fight.
Its MSCI Investable Market benchmark spans large, mid and small US utilities. XLU, by contrast, drafts only from the S&P 500 universe, so the smaller names never appear.vanguard.com ssga.com
The index's 25/50 caps exist to keep any single issuer under 25% and the pile of 5%-plus names under half the fund, a guardrail in a sector with a few giants.msci.com
Plain full replication since 2004: buy the index, hold the index. Tracking here has been among the tightest in the US utilities group.

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.

VPU One sector, about 70 stocks. It swings on rate expectations and regulator decisions, with nothing outside utilities to cushion it.
XLU and FUTY shave the fee to 0.08%, and XLU is the more heavily traded ticker if order size matters to you.
Income arrives quarterly, not monthly, so the cash lands in four lumps a year.

Full FUTY profile⁠

Full VPU profile⁠

FUTY vs VPU Holdings

How FUTY and VPU differ

Overlap by weight

98.0%

Shared holdings make up 99.6% of FUTY and 99.0% of VPU.

Level by level

Holdings62 in both98.0%
Asset classEquity100%
Countryby domicile100%
Sector3 Sectors100%

Sector

Sector weights in FUTY and VPU, widest gap first
Sector	More in FUTYMore in VPU	FUTY	VPU
Utilities	FUTY +0.1 points	99.3%	99.2%
Industrials	VPU +0.1 points	0.2%	0.3%
Energy	Same weight	0.5%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in FUTY and VPU, widest gap first
Country	More in FUTYMore in VPU	FUTY	VPU
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

FUTY52.5%
VPU52.5%

Securities held

FUTY65
VPU69

Asset class

FUTY: Equity
VPU: Equity

Holdings

Only in FUTY3
In both62
Only in VPU7

Only in FUTY

3 securities, 2.4% of FUTY by weight

Securities Lending Cf2.09%
State Street 60 Day Money Mark0.27%
Xplr Infrastructure Lp0.06%

Only in VPU

7 securities, 0.6% of VPU by weight

SLBBH11420.43%
XPLR Infrastructure LP0.07%
York Water Co/The0.04%
Consolidated Water Co Ltd0.03%
Artesian Resources Corp0.02%
Cadiz Inc0.02%
Genie Energy Ltd0.02%

Weight gaps

All 62 Holdings in both funds, largest gap first.

Holding weights in FUTY and VPU, widest gap first
Holding	More in FUTYMore in VPU	FUTY	VPU
Constellation Energy CorpCEG	VPU +0.25 points	5.50%	5.75%
Vistra CorpVST	VPU +0.22 points	3.16%	3.38%
Southern CoSO	FUTY +0.21 points	6.97%	6.76%
American Water Wrks CompanyAWK	FUTY +0.14 points	1.85%	1.71%
Alliant Energy CorporationLNT	FUTY +0.13 points	1.21%	1.08%
Exelon CorpEXC	FUTY +0.13 points	3.12%	2.99%
Wec Energy Group IncWEC	FUTY +0.10 points	2.48%	2.38%
Consolidated Edison IncED	FUTY +0.10 points	2.83%	2.73%
Xcel Energy IncXEL	FUTY +0.10 points	3.28%	3.18%
Duke Energy CorpDUK	FUTY +0.10 points	6.53%	6.43%
Centerpoint Energy IncCNP	FUTY +0.10 points	1.84%	1.74%
Nrg Energy IncNRG	VPU +0.09 points	1.30%	1.39%
Oklo IncOKLO	VPU +0.08 points	0.27%	0.35%
Nisource IncNI	FUTY +0.08 points	1.43%	1.35%
Entergy CorpETR	FUTY +0.06 points	3.41%	3.35%
Aes CorpAES	VPU +0.06 points	0.71%	0.77%
Eversource EnergyES	VPU +0.05 points	1.70%	1.75%
SempraSRE	FUTY +0.05 points	3.73%	3.69%
Pinnacle West Capital CorpPNW	FUTY +0.04 points	0.86%	0.82%
Dominion Energy IncD	VPU +0.04 points	3.81%	3.85%
Ameren CorpAEE	FUTY +0.04 points	2.03%	1.99%
Nextera EnergyNEE	VPU +0.03 points	11.40%	11.43%
Portland General Electric CoPOR	VPU +0.03 points	0.34%	0.37%
Ormat Technologies IncORA	FUTY +0.04 points	0.38%	0.34%
Txnm Energy IncTXNM	VPU +0.03 points	0.39%	0.42%
Fervo EnergyFRVO	VPU +0.03 points	0.05%	0.08%
Dte Energy CoDTE	FUTY +0.03 points	1.86%	1.83%
Black Hills CorpBKH	FUTY +0.02 points	0.41%	0.39%
Talen Energy CorpTLN	FUTY +0.03 points	0.95%	0.92%
Edison IntlEIX	FUTY +0.02 points	1.52%	1.50%
Southwest Gas Holdings IncSWX	FUTY +0.01 points	0.41%	0.40%
Northwestern Energy Group IncNWE	FUTY +0.02 points	0.32%	0.30%
National Fuel Gas Co NjNFG	VPU +0.02 points	0.48%	0.50%
H2O AmericaHTO	VPU +0.02 points	0.13%	0.15%
Cms Energy CorpCMS	FUTY +0.02 points	1.43%	1.41%
Spire IncSR	FUTY +0.01 points	0.34%	0.33%
PG&E CorpPCG	VPU +0.01 points	1.94%	1.95%
Hawaiian Electric Inds IncHE	VPU +0.01 points	0.10%	0.11%
New Jersey Resources CorpNJR	VPU +0.01 points	0.36%	0.37%
Otter Tail CorporationOTTR	VPU +0.01 points	0.23%	0.24%
Public Svc Enterprise Grp IncPEG	FUTY +0.01 points	2.44%	2.43%
Firstenergy CorpFE	VPU +0.01 points	1.71%	1.72%
American States Water CoAWR	VPU +0.01 points	0.22%	0.23%
California Water Svc GrpCWT	VPU +0.01 points	0.19%	0.20%
Atmos Energy CorpATO	FUTY +0.01 points	1.90%	1.89%
American Electric Power Co IncAEP	FUTY +0.01 points	4.68%	4.67%
Hallador Petroleum CoHNRG	VPU +0.01 points	0.03%	0.04%
Ppl CorporationPPL	VPU +0.01 points	1.78%	1.79%
Clearway Energy Inc Class CCWEN	FUTY +0.01 points	0.26%	0.25%
Chesapeake Utilities CorpCPK	Same weight	0.22%	0.22%
Mdu Resources Group IncMDU	VPU +0.01 points	0.26%	0.27%
Idacorp IncIDA	FUTY +0.01 points	0.53%	0.52%
Mge Energy IncMGEE	Same weight	0.19%	0.19%
Avista CorpAVA	Same weight	0.21%	0.21%
Ugi Corp NewUGI	Same weight	0.55%	0.55%
Middlesex Water CoMSEX	Same weight	0.07%	0.07%
Essential Utilities IncWTRG	FUTY +0.01 points	0.77%	0.76%
Northwest Natural Holding CoNWN	Same weight	0.14%	0.14%
Evergy IncEVRG	Same weight	1.31%	1.31%
Oge Energy CorpOGE	Same weight	0.68%	0.68%
One Gas IncOGS	Same weight	0.33%	0.33%
Unitil CorpUTL	Same weight	0.07%	0.07%

All 67 FUTY holdings⁠All 69 VPU 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.

FUTY vs VPU Cost

Overpaying VPU vs FUTY

$125

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

FUTY 0.084%
$1,773
VPU 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

FUTY 0.084%
VPU 0.09%
Overpaying

Year by year

Year	FUTY	VPU	Overpaying
10	$154	$165	$11
20	$603	$646	$43
30	$1,773	$1,898	$125

Expense ratio

0.08%FUTY, cheaper
0.09%VPU

FUTY0.08%VPU0.09%

0.08%0.61%

Middle half of Utilities (Broad) funds
Median 0.33%

FUTY 2nd cheapest of 10 funds

VPU 3rd cheapest of 10 funds

FUTY vs VPU Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FUTY 2.73%; VPU 2.77%, better
Payout (12M): FUTY $1.53; VPU $5.20
Last payment: FUTY $0.39; VPU $1.26
Ex-dividend: FUTY Sep 18, 2026; VPU Sep 23, 2026
Paid on: FUTY Sep 22, 2026; VPU Sep 25, 2026
Frequency: FUTY Quarterly; VPU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FUTYQuarterly · 39 paymentsAll FUTY payments⁠

VPUQuarterly · 39 paymentsAll VPU payments⁠

FUTY vs VPU Risk

Fall from peak · 5 years

FUTY
VPU

Risk facts

VolatilityStd dev, 3 years: FUTY 15.6%VPU 15.6%
Return per unit of riskSharpe ratio, 3 years: FUTY 0.80VPU 0.80
Worst fallMax drawdown, 5 years: FUTY −25.1%VPU −25.1%
Market sensitivityBeta, 5 years: FUTY 0.50VPU 0.50; Market = 1

FUTY and VPU in the news

All news⁠

ETF Filings
Kayne Anderson files energy and power ETFs as adviser of record
Sep 22, 2026VPU

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FUTY vs VPU

In short

Stated mandate

Why people hold it

Worth knowing

How FUTY and VPU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FUTY

Only in VPU

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Kayne Anderson files energy and power ETFs as adviser of record

How FUTY and VPU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FUTY

Only in VPU

Weight gaps