Data as of Oct 28, 2026.
FNCL vs IYG: Differences, Returns & Fees
Over the year to Oct 28, 2026, FNCL returned +7.6% to IYG's +7.0%; 73% of their weight is in the same names.
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Net assets: $2.2bn on Sep 30, 2026 for Fidelity MSCI Financials Index ETF, and $2.2bn on Oct 27, 2026 for iShares U.S. Financial Services ETF.
Pair scorecard
FNCL costs 0.29 points a year less; their one-year returns differ by 0.6 points.
| Measure | FNCL | IYG |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.6% | +7.0% |
| Drawdown | ||
| Below its high | 4.4%, high on Sep 3, 2026 | 4.5%, high on Sep 3, 2026 |
| Benchmark | ||
| What it tracks | MSCI USA IMI Financials 25/50 Index | Dow Jones U.S. Financial Services Index |
| Cost and size | ||
| Expense ratio | 0.08% | 0.37% |
| Net assets, as of Sep 30, 2026 | $2.2bn | $2.1bn |
| Holdings | ||
| Holdings in common | 73% | |
| Top ten holdings, share of the fund | 48.4% | 63.9% |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
Nov 1, 2013 to Oct 23, 2026 · 677 weekly returnsIYG returned slightly more: +343.2% to +317.7%. FNCL swung slightly less: 20.8% to 21.9%. FNCL and IYG fell about the same at their worst: −40.6% and −40.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FNCL | IYG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +317.7% | +343.2% | IYG (slight) | Price change plus distributions, reinvested. |
| Annualized | +11.6% | +12.1% | IYG (slight) | Total return as a yearly rate. |
| Price return | +219.9% | +263.2% | IYG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.8% | 21.9% | FNCL (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.4% | 15.1% | FNCL (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −40.6% | −40.3% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.54 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.78 | 0.79 | Tie | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.29 | 0.30 | IYG (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 677 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FNCL and IYG hold 73% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
73% in common
Only in one fund ↓
Side by side
FNCL and IYG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FNCL and IYG are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FNCL follows MSCI USA IMI Financials 25/50 Index and IYG follows Dow Jones U.S. Financial Services Index.
- Number of holdings. FNCL holds 383 positions and IYG holds 98.
- Cost. FNCL charges 0.08% of assets a year and IYG 0.37%, a gap of 0.29 points.
Data as of Oct 28, 2026.
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FNCL
FNCL tracks an index. Over the year to Oct 28, 2026 it returned +7.6% with distributions reinvested, against +7.5% for its benchmark, the MSCI USA IMI Financials 25/50 Index. The prospectus expense ratio is 0.08% a year. By its holdings filed for Jul 31, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 383 positions, with the top ten at 48.4%. It sat 4.4% below its high of Sep 3, 2026 on Oct 28, 2026.
IYG
IYG tracks an index. Over the year to Oct 28, 2026 it returned +7.0% with distributions reinvested. The prospectus expense ratio is 0.37% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 98 positions, with the top ten at 63.9%. It sat 4.5% below its high of Sep 3, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FNCL or IYG?
- In the year to Oct 28, 2026, with distributions reinvested, FNCL returned +7.6% and IYG +7.0%.
- Which is cheaper, FNCL or IYG?
- FNCL is cheaper, by 0.29 percentage points a year. That is about $29 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, FNCL against IYG, data as of Oct 28, 2026. https://etfiq.com/compare/any/fncl-vs-iyg
ETFIQ. (Oct 28, 2026). FNCL against IYG. Retrieved from https://etfiq.com/compare/any/fncl-vs-iyg
[FNCL against IYG (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fncl-vs-iyg)
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