Fidelity MSCI Utilities Index ETF

Fidelity MSCI Utilities Index ETF (FUTY) is an index fund that tracks the MSCI USA IMI Utilities 25/50 Index. The index holds US electric, gas and water utilities and independent power producers. Its 0.084% expense ratio is the second-lowest of nine similar funds and well below their 0.39% average. As of July 31, 2026, it held 62 stocks, and NextEra Energy alone made up about 11.8% of assets.

• Over the year to Oct 27, 2026, FUTY returned -4.0%, 7th of 9 among similar funds.
• Its 5-year annualized return was +8.2% and its 10-year +9.2%.
• In the 2020 COVID crash it fell 35.9% and regained its old high 16.6 months after the low.
• Its worst full calendar year was 2023 (-7.5%); its best was 2014 (+26.9%).
• The deepest fall in its price history was 36.4% (Feb 18, 2020 to Mar 23, 2020), recovered by Aug 11, 2021.

As of Jul 31, 2026, the fund held 62 securities; the ten largest made up 52.31% of assets.

By sector

• Over the three months to Jul 31, 2026, investors added a net $3.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -4.80%, +2.31%, -2.34%.

FUTY aims to match the MSCI USA IMI Utilities 25/50 Index, before fees. The index covers US companies that the Global Industry Classification Standard (GICS), a widely used system for sorting companies into sectors, places in utilities. That means electric, gas and water utilities, plus companies that produce or distribute power, including from renewable sources. "IMI" stands for Investable Market Index, so the index reaches beyond the biggest companies to include mid-size and smaller ones. "25/50" refers to caps that limit how much the largest companies can weigh.

Fidelity uses representative sampling. Instead of buying every stock in the index, it holds a sample picked to match the index's size, industry mix, yield and trading traits. The fund may not own every index stock. As of July 31, 2026, it held 62 stocks, and the 10 largest made up 52.3% of assets. The biggest were NextEra Energy (11.8%), Southern Co. (6.9%) and Duke Energy (6.4%). Portfolio turnover was 4%, according to the prospectus.

Starting December 11, 2025, derivatives that give similar exposure count toward the fund's rule of keeping at least 80% of assets in index securities. As of July 31, 2026, the fund held one utilities futures contract with a near-zero weight, plus about 0.21% in cash. The fund is classified as non-diversified, so a few large holdings can move its price more.

• FUTY charges 0.084% a year, versus an average of 0.39% for the similar funds below (2nd of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $9 in the first year and $108 over 10 years (assuming a 5% annual return).

FUTY pays quarterly dividends from US utility stocks at a very low cost, but its past declines show it is not a low-risk holding.

FUTY can add a stream of quarterly dividends. Its trailing 12-month yield was 2.77% as of October 27, 2026, about $1.53 per share. Costs are small: in the SEC's standard example, a $10,000 investment would pay about $9 in the first year and $108 over 10 years. Utilities aren't crash-proof, though. The fund launched in 2013, so it has no 2008 record. In the 2020 COVID crash it fell 36.4%, its deepest drop, and took about 16.6 months to recover. In 2022 it ended the year up 1.23%, but it still fell 20.1% between September and October 2022 and needed about 21.6 months to recover. Its worst calendar year was 2023, at -7.45%. Selling shares to raise cash in a slump like that would lock in losses. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.