FMAT — Fidelity MSCI Materials Index ETF

FMAT Price Performance — Growth of $10,000

Value of a $10,000 investment in FMAT over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

FMAT Drawdown

The "underwater" chart: FMAT's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Fidelity MSCI Materials Index ETF (FMAT) is a Materials sector fund issued by Fidelity Investments with $624 million in assets under management. Currently trading at $58.89, the fund holds an overall rank of #385 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of D with a score of 48.9 out of 100. It competes within a category of 15 ETFs tracked by the platform and charges an expense ratio of 0.084%. The fund offers a dividend yield of 1.43%, providing income to shareholders alongside capital appreciation potential. The asset size and ranking suggest moderate investor adoption relative to the broader universe of tracked funds. Its position in the Materials category places it among peers like COPX and GDX, though its specific rank reflects its standing against all 458 tracked ETFs.

Over the last trading day, the fund posted a gain of +1.32%, followed by a stronger weekly return of +3.33%. However, the one-month performance shows a decline of -0.78%, and the three-month period reflects a further drop of -1.95%. Despite these short-term setbacks, the fund has recovered to post a +0.51% return over six months and a +9.90% year-to-date gain. The one-year return stands at +14.13%, while the three-year annualized return reaches +30.28%. This pattern indicates a divergence where recent short-term volatility contrasts with solid longer-term growth, as the fund has moved from negative three-month returns to positive year-to-date and annual figures.

The fund carries a Moderate volatility label and a beta of 0.91, suggesting its price movements are slightly less sensitive to market swings than the broader benchmark. A Sharpe ratio of 0.49 indicates the risk-adjusted returns have been modest relative to the volatility experienced. The maximum drawdown of -23.17% highlights the potential for significant temporary losses during market downturns. This combination of a beta below 1.0 and a moderate volatility rating implies the fund generally moves in tandem with the market but with slightly dampened amplitude. The substantial drawdown figure underscores that despite the lower beta, the fund remains exposed to material sector-specific risks that can lead to sharp declines.

AI-generated summary based on the data on this page.

FMAT Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 55.9% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FMAT's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With FMAT

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FMAT's top 10 — VAW overlaps most, holding 9 of the same companies as FMAT's top 10 (52.6% of FMAT's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FMAT Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 11.39% and average daily volume is 56K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $624M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: FMAT is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

FMAT Performance History

How FMAT Compares to Other Materials ETFs