Fund Evaluator:
Fidelity Telecom and Utilities (FIUIX)
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Best Performing in Utilities Over the Last Year
| 19.3% | ICON Utilities and Income Inv (ICTVX) |
| 15.5% | Fidelity Advisor Utilities Z (FFUZX) |
| 15.4% | Fidelity Select Utilities (FSUTX) |
| 15.2% | Hennessy Gas Utility Investor (GASFX) |
| 15.0% | American Century Utilities Inv (BULIX) |
Fund Details
Fidelity Telecom and Utilities Overview
Fidelity Telecom and Utilities (FIUIX) is an actively managed Sector Equity Utilities fund. Fidelity Investments launched the fund in 1987.
The investment seeks high total return through a combination of current income and capital appreciation. The fund invests primarily in common stocks. It invests at least 80% of assets in securities of telecommunications services companies and utility companies. The fund invests in domestic and foreign issuers. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions to select investments. The fund is non-diversified.
About Fidelity Telecom and Utilities (FIUIX)
There are 2 members of the management team with an average tenure of 1.22 years: Pranay Kirpalani (2024), Alex Boyajian (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 3000 Tel&Utilities Sel TR USD index with a weighting of 100%. Fidelity Telecom and Utilities has 48 securities in its portfolio. The top 10 holdings constitute 56.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Fidelity Telecom and Utilities is part of the Equity global asset class and is within the Sector Equity fund group. Fidelity Telecom and Utilities has 1.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.3%. There is 1.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Telecom and Utilities has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $517 million average for the Utilities category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FIUIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Telecom and Utilities expense ratio is above average compared to funds in the Utilities category. Fidelity Telecom and Utilities has an expense ratio of 0.68%, which is 39% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Telecom and Utilities has a portfolio turnover rate of 94%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 53% for the Utilities category.
Recently, in the month of June 2026, Fidelity Telecom and Utilities returned -0.8%, which earned it a grade of F, as the Utilities category had an average return of 2.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Fidelity Telecom and Utilities has a trailing yield of 2.09%, which is below the 3.02% category average. The fund normally distributes its income quarterly and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Telecom and Utilities Grades
Year to date, the fund has returned 5.0%, 3.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 8.0% over the past year (grade of F), 17.4% over the past three years (grade of A) and 11.7% per year over the past five years (grade of B) and 9.5% per year over the past 10 years (grade of B).
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FIUIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FIUIX Return (NAV) | -0.8% | -3.1% | 8.0% | 17.4% | 11.7% | 9.5% |
| FIUIX Grade | F | F | F | A | B | B |
| +/- Category | -2.9% | -2.9% | -7.2% | 3.1% | 1.6% | 0.9% |
| Utilities Avg | 2.1% | -0.2% | 15.3% | 14.3% | 10.0% | 8.6% |
| FIUIX Tax Cost Ratio | na | na | 2.4% | 1.8% | 1.7% | 1.5% |
FIUIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FIUIX Return (NAV) | 5.0% | 11.1% | 30.3% | 3.4% | 5.0% | 7.2% | 2.1% | 22.0% | 3.3% | 12.0% | 17.0% |
| FIUIX Grade | F | F | A | A | A | F | B | D | B | C | B |
| +/- Category | -3.4% | -3.6% | 9.1% | 7.7% | 4.4% | -8.8% | 1.6% | -1.5% | 0.9% | -0.3% | 1.4% |
| Utilities Avg | 8.4% | 14.7% | 21.2% | -4.4% | 0.6% | 16.0% | 0.5% | 23.5% | 2.4% | 12.3% | 15.6% |
| Risk Measures | |
| Standard Deviation: | 13.9% |
| Total Risk Index: | 1.14 - Above Average |
| Category Risk Index: | 0.95 - Below Average |
| Category Risk Grade: | B (30% Rank) |
| Beta: | 0.43 |
| R-Squared: | 15% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.1% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $1384 Mil |
| Fund Total Assets: | $1,384 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 94% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Kirpalani Pranay (2024), Boyajian Alex (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 48 |
| % in Top 10 Holdings: | 56.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.9% |
Portfolio Allocation |
|
| Domestic Stock: | 96.3% |
| Foreign Stock: | 1.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.9% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-544-8544 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | November 27, 1987 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.68% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.11% |
| Share Class: | Fidelity Telecom and Utilities |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
