Fidelity MSCI Utilities Index ETF
FUTY
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- Fidelity MSCI Utilities Index ETF (FUTY) is an exchange-traded fund that seeks to track the performance of the MSCI USA IMI Utilities 25/50 Index, prior to fees and expenses, by investing at least 80% of its assets in securities included in the index. The fund normally invests in growth and value stocks of U.S. utilities companies across diversified market capitalizations, including electric, gas, water, and multi-utilities providers; its top holdings as of late 2025 include NextEra Energy Inc. (approximately 11%), Constellation Energy Corp. (around 7%), Southern Co. (about 6-7%), Duke Energy Corp., and Vistra Corp., representing over 50% of the portfolio across roughly 66 holdings. Launched on October 21, 2013, and domiciled in the United States, FUTY is issued by Fidelity Covington Trust, managed by Fidelity Management & Research Company LLC, and co-managed by BlackRock Fund Advisors, with a low expense ratio of 0.08% and assets under management exceeding $2 billion. The ETF provides passive exposure to the U.S. utilities sector, targeting institutional and retail investors seeking sector-specific diversification, income from dividends (yielding approximately 2.5-2.6%), and potential stability amid macroeconomic uncertainty. It trades on NYSE Arca and employs a representative sampling technique to replicate the market-cap-weighted index, which focuses on the performance of utilities in the U.S. equity market. In recent developments, FUTY has benefited from heightened investor interest in utilities driven by AI-related power demand growth, achieving approximately 20% year-to-date gains through late 2025 and outperforming broader indices like the S&P 500 amid expectations of lower interest rates. Portfolio management saw portfolio manager additions in 2025, including Matt Waldron and Steven White effective June 30, 2025, alongside existing managers Jennifer Hsui and Peter Sietsema. The fund continues to maintain its low-cost structure and liquidity, with no reported acquisitions, partnerships, or structural changes specific to FUTY in 2024-2025, operating steadily within Fidelity's suite of sector ETFs.