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About Fidelity MSCI Utilities Index ETF

FUTY is part of Fidelity's suite of sector funds, and fits into the US utilities space. FUTY is a direct competitor to Vanguard's VPU, which offers nearly identical exposure as they both track very similar indices. FUTY is fairly easy to trade, with modest spreads and sizeable volume. The Indexs methodology applies certain investment limits for RICs under the current US Internal Revenue Code to help ensure diversification, one of which stipulates that: At the end of each quarter of its tax year no more than 25% of the value of the RIC's assets may be invested in a single issuer and the sum of the weights of all issuers representing more than 5% of the fund should not exceed 50% of the funds total assets. Prior to December 1, 2020, the fund tracked the MSCI USA IMI Utilities Index.