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Fidelity MSCI Financials Index (FNCL)Overvalued or undervalued?
Look-through valuation · Sector · Expense ratio 0.08 % · ISIN US3160925018
Price history (since 2013)
Monthly close since 2013. Price shows performance, the valuation verdict is in the look-through above.
Top holdings
| Holding | Weight | vs fair value | Quality |
|---|---|---|---|
| JPMorgan Chase & Co JPM | 10.4 % | −43.2 % | 64 |
| Berkshire Hathaway Inc BRK-B | 8.4 % | −23.8 % | 57 |
| Visa Inc. Class A V | 7.2 % | −44.1 % | 81 |
| Mastercard Inc MA | 5.4 % | −40.6 % | 83 |
| Bank of America Corp BAC | 4.1 % | −21.5 % | 60 |
| Goldman Sachs Group Inc GS | 3.1 % | −14.0 % | 53 |
| Wells Fargo & Company WFC | 2.9 % | −17.7 % | 55 |
| Morgan Stanley MS | 2.6 % | +68.3 % | 66 |
| Citigroup Inc. C | 2.6 % | −14.0 % | 51 |
| Charles Schwab Corp SCHW | 1.9 % | +23.1 % | 71 |
| American Express Company AXP | 1.9 % | −32.7 % | 70 |
| BlackRock Inc BLK | 1.9 % | −53.8 % | 59 |
| Progressive Corp PGR | 1.5 % | −27.9 % | 66 |
| S&P Global Inc SPGI | 1.4 % | −47.2 % | 80 |
| Chubb Ltd CB | 1.4 % | −31.8 % | 65 |
| Capital One Financial Corporation COF | 1.3 % | −46.0 % | 39 |
| CME Group Inc CME | 1.2 % | −28.1 % | 62 |
| The Bank of New York Mellon Corporation BK | 1.1 % | n/a | n/a |
| U.S. Bancorp USB | 1.1 % | −6.8 % | 60 |
| PNC Financial Services Group Inc PNC | 1.0 % | −26.8 % | 56 |
| Intercontinental Exchange Inc ICE | 1.0 % | −11.2 % | 68 |
| Robinhood Markets Inc HOOD | 1.0 % | −56.8 % | 67 |
| Blackstone Group Inc BX | 1.0 % | −52.5 % | 60 |
| Marsh & McLennan Companies Inc MMC | 1.0 % | n/a | n/a |
| The Travelers Companies Inc TRV | 0.9 % | −25.0 % | 60 |
Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 49 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.
The 10 most cheaply valued ETFs
Measured against the look-through fair value of the holdings (sufficiently covered funds only). Green means below fair value, red above. Not financial advice.
- 1 CHIU Global X MSCI China Utilities ETF +76.9 % below FV
- 2 MCHI iShares MSCI China ETF +41.9 % below FV
- 3 ITB iShares U.S. Home Construction ETF +37.1 % below FV
- 4 FCFY First Trust S&P 500 Diversified Free Cash Flow ETF +32.2 % below FV
- 5 VOX Vanguard Communication Services Index Fund ETF Shares +21.5 % below FV
- 6 XLC Communication Services Select Sector SPDR® Fund +20.6 % below FV
- 7 C003 Amundi Index Solutions - Amundi DivDAX I UCITS ETF EUR Distributing +19.1 % below FV
- 8 FDNI First Trust Dow Jones International Internet ETF +15.2 % below FV
- 9 SHRY First Trust Bloomberg Shareholder Yield ETF +14.6 % below FV
- 10 TAN Invesco Solar ETF +14.5 % below FV
Frequently asked about FNCL
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How we value this ETF
An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives Fidelity® MSCI Financials Index ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.
As of: Oct 15, 2026
The look-through is a computed summary of public fundamentals and is no substitute for your own research.