FMAT vs SPY
Fidelity MSCI Materials Index ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
FMAT has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FMAT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.08% | 0.09% | |
| AUM | $579M | $814.4B | |
| Dividend Yield | 1.46% | 1.01% | |
| Holdings | 104 | 505 | |
| YTD Return | +12.83% | +12.87% | |
| 1Y Return | +16.04% | +21.13% | |
| 3Y Return (annualized) | +10.39% | +20.86% | |
| 5Y Return (annualized) | +6.64% | +12.69% | |
| Volatility (annualized) | 19.1% | 15.3% | |
| Max Drawdown | -43.9% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 21, 2013 | Jan 22, 1993 |
FMAT vs SPY Performance
Fidelity MSCI Materials Index ETF (FMAT) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FMAT returned +16.04% while SPY returned +21.13%. Year to date, FMAT is up 12.83% versus a gain of 12.87% for SPY.
Over three years, FMAT compounded at +10.39% per year against +20.86% for SPY; over five years the annualized figures are +6.64% and +12.69% respectively. Across the full 13-year window we track, SPY has the edge at +8.80% annualized vs +7.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FMAT has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -43.9% for FMAT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FMAT charges 0.08% per year while SPY charges 0.09%. On a $10,000 position that is $8 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, FMAT currently yields 1.46% against 1.01% for SPY.
Holdings Overlap
FMAT and SPY share 23 holdings out of 582 unique holdings combined, representing a 1.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FMAT or SPY?
FMAT has an expense ratio of 0.08% while SPY charges 0.09%. FMAT is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, FMAT or SPY?
Over the past year FMAT returned +16.04% vs +21.13% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), FMAT annualized +7.81% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, FMAT or SPY?
FMAT has been the more volatile fund at 19.1% annualized versus 15.3% for SPY. Worst drawdown: FMAT -43.9% vs SPY -56.5%.
Should I hold both FMAT and SPY?
FMAT and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FMAT and SPY?
FMAT and SPY share 23 common holdings with a 1.7% weight overlap. Combined, they hold 582 unique securities.
Which pays a higher dividend, FMAT or SPY?
FMAT yields 1.46% while SPY yields 1.01%, so FMAT currently pays the higher dividend yield.
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