Owns US industrial companies of all sizes, such as machinery makers, aerospace firms and railroads, following the MSCI USA IMI Industrials 25/25 Index.
FIDU, the Fidelity MSCI Industrials Index ETF, is a $2.3 billion ETF whose main story is the defense trade. Over the past year it returned +10.9%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
FIDU · the ETFFRI OCT 2Market price total return
+12.0% a yearTotal return since launch, October 2013
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 67 ETFs on the narrative page →
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on October 24, 2013: +12.0% a year.
Total return in each calendar year; this year is year to date. A year appears only if FIDU traded for all of it.
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
How closely it moves
With the market0.85
−1 opposite0 unrelated+1 in step
FIDU moves closely with the market. When the market has moved 1%, FIDU has tended to move 0.95%.
With The defense trade0.94
−1 opposite0 unrelated+1 in step
FIDU moves closely with the defense trade. When the defense trade has moved 1%, FIDU has tended to move 0.91%.
Weekly returns over 157 weeks. The narrative is measured without FIDU in it, so it is not compared with itself.
Correlation of weekly returns over the last 3 years, among unlevered ETFs StoryVector covers.
Where it sits in The defense trade
Each dot is one of 25 unlevered ETFs whose main narrative is the defense trade, placed by its return (up) and how much it swung (right) over the last year.
Risk
18.4%Volatility, last year
−12.2%Largest fall, last year
−9.2%Below its high now
0.08%Expense ratio, a year · 2nd cheapest of 30
0.92%Payout yield, last 12 months
$13.2mTraded each day, 3-month average
$2.32bnAssets
Issued by Fidelity · launched October 21, 2013
Cost against its peers
FIDU is the 2nd cheapest of 30 ETFs in the defense trade. The dashed line is the middle of the group, 0.45% a year.
How it is built
An unlevered long ETF that owns its holdings directly. It counts toward Share of Narrative.
Leverage1xMoves one for one with what it holds
OptionsNoneNo options on top of what it holds
ExposureOwns its holdingsHolds the securities or the asset directly
FIDU’s main story is the defense trade, which covers defense contractors, defense technology and the industrial companies around them, paid from government budgets.
Which ETFs compete with FIDU?
The ETFs whose weekly returns move most like FIDU’s over the past 3 years are VIS (1.00), XLI (0.99) and IYJ (0.97).
How has FIDU performed against its story?
Over the past year FIDU returned +10.9%, the ETFs carrying the defense trade +5.2% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.94 with the story. Past performance only.
Run an ETF in the defense trade? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
Narrative figures are from the weekly board. Performance is market price total return as of October 2, 2026. Assets are StoryVector’s weekly figure. Classification and measurement. Not investment advice. How the measurement works →