FNCLFidelity MSCI Financials Index ETF
FNCL Fund Description
FNCL tracks a market-cap-weighted index of US financial companies across the entire market-cap spectrum.
FNCL Factset Analytics Insight
FNCL is one of ten Fidelity ETFs that track MSCI sector indexes. The fund competes in a crowded financial space with three popular and well-seasoned cap-weighted funds: XLF, VFH and IYF. FNCL tracks an “investable market” index from MSCI, which aims to capture 99% of the market cap of US financial firms, meaning it also covers the smaller financial firms in market-like weights. To meet diversification requirements,, the index employs a capping methodology, such that no group entity exceeds 25% of index weight and the aggregate weight of issuers with over 5% weight in the index are capped at 50% weight of the portfolio. In September 2016, the fund sold off all of its REITs (except for mortgage REITs) - a substantial part of the portfolio. It did so to comply with a change in GICS methodology. It increased its allocation to remaining financial industries in accord with the revamped underlying index. Prior to December 1, 2020, FNCL tracked the unconstrained MSCI USA IMI Financials Index.
FNCL MSCI ESG Analytics Insight
Fidelity MSCI Financials Index ETF has an MSCI ESG Fund Rating of A based on a score of 7.04 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Fidelity MSCI Financials Index ETF ranks in the 74th percentile within its peer group and in the 46th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
FNCL MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
FNCL Summary Data
FNCL Portfolio Data
FNCL Index Data
FNCL Portfolio Management
FNCL Tax Exposures
FNCL Fund Structure
FNCL Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FNCL. FNCL is rated a 5 out of 5.
FNCL Sector/Industry Breakdown
FNCL Top 10 Holdings[View All]
FNCL Economic Development
FNCL Performance Statistics
FNCL MSCI ESG Ratings
FNCL Benchmark Comparison Summary
FNCL Benchmark Comparison Market Cap Size