FMAT vs CLSE
Comparison between FIDELITY MSCI MATERIALS INDEX ETF (FMAT, ETF) and CONVERGENCE LONG/SHORT EQUITY ETF (CLSE, ETF).
FMAT vs CLSE - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
Winner
FMAT
$616M
CLSE
$614M
Expense Ratio
Winner
FMAT
0.08%
CLSE
1.52%
Max Drawdown
FMAT
43.86%
Winner
CLSE
16.55%
Sharpe Ratio
FMAT
1.00
Winner
CLSE
2.85
5Y Beta
FMAT
0.87
Winner
CLSE
0.65
P/E Ratio
FMAT
30.88
Winner
CLSE
17.02
Forward P/E
FMAT
17.26
Winner
CLSE
16.77
5Y Dividends CAGR
FMAT
4.45%
CLSE
N/A
5Y EPS CAGR
FMAT
19.31%
Winner
CLSE
34.38%
Debt to Equity
FMAT
50.45%
Winner
CLSE
6.82%
P/S Ratio
FMAT
2.08
Winner
CLSE
1.17
P/B Ratio
Winner
FMAT
2.99
CLSE
5.05
FMAT vs CLSE - Holdings Comparison
FMAT and CLSE have 15 common holdings. Overlap is 1.17%
FMAT's top 25 holdings weight is 77.67%. CLSE's top 25 holdings weight is 88.46%.
| Rank | FMAT | CLSE |
|---|---|---|
| #1 | LINDE PLC (LIN) - 15.44% | OTHER ASSETS AND LIABILITIES (n/a) - 39.28% |
| #2 | NEWMONT CORP (NEM) - 7.82% | NVIDIA CORP (NVDA) - 4.86% |
| #3 | FREEPORT-MCMORAN INC (FCX) - 5.93% | MICRON TECHNOLOGY INC (MU) - 3.88% |
| #4 | SHERWIN-WILLIAMS CO (SHW) - 4.71% | BROADCOM INC (AVGO) - 3.16% |
| #5 | CRH PLC (CRH) - 4.40% | LAM RESEARCH CORP (LRCX) - 3.09% |
| #6 | ECOLAB INC (ECL) - 4.16% | ADVANCED MICRO DEVICES INC (AMD) - 2.97% |
| #7 | AIR PRODUCTS AND CHEMICALS INC (APD) - 4.14% | AMAZON.COM INC (AMZN) - 2.57% |
| #8 | NUCOR CORP (NUE) - 3.53% | ALPHABET INC CLASS C (GOOG) - 2.38% |
| #9 | CORTEVA INC (CTVA) - 3.43% | ALPHABET INC CLASS A (GOOGL) - 2.37% |
| #10 | VULCAN MATERIALS CO (VMC) - 2.28% | META PLATFORMS INC CLASS A (META) - 1.97% |
| #11 | STEEL DYNAMICS INC (STLD) - 2.23% | n/a (DELL) - 1.95% |
| #12 | MARTIN MARIETTA MATERIALS INC (MLM) - 2.17% | SANDISK CORP ORDINARY SHARES (SNDK) - 1.91% |
| #13 | AMRIZE LTD REGISTERED SHARE (AMRZ) - 1.64% | CISCO SYSTEMS INC (CSCO) - 1.88% |
| #14 | DOW INC (DOW) - 1.61% | ROKU INC CLASS A (ROKU) - 1.81% |
| #15 | PPG INDUSTRIES INC (PPG) - 1.58% | FORTINET INC (FTNT) - 1.45% |
| #16 | DUPONT DE NEMOURS INC (DD) - 1.33% | ARISTA NETWORKS INC (ANET) - 1.44% |
| #17 | ALBEMARLE CORP (ALB) - 1.32% | APPLOVIN CORP ORDINARY SHARES CLASS A (APP) - 1.38% |
| #18 | SMURFIT WESTROCK PLC (SW) - 1.31% | CIENA CORP (CIEN) - 1.32% |
| #19 | PACKAGING CORP OF AMERICA (PKG) - 1.26% | AMKOR TECHNOLOGY INC (AMKR) - 1.31% |
| #20 | RELIANCE INC (RS) - 1.26% | INTERNATIONAL BUSINESS MACHINES CORP (IBM) - 1.30% |
| #21 | INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF) - 1.25% | WESTERN DIGITAL CORP (WDC) - 1.29% |
| #22 | ALCOA CORP (AA) - 1.24% | UIPATH INC CLASS A (PATH) - 1.29% |
| #23 | COEUR MINING INC (CDE) - 1.22% | MICROSOFT CORP (MSFT) - 1.20% |
| #24 | ROYAL GOLD INC (RGLD) - 1.22% | TERADATA CORP (TDC) - 1.20% |
| #25 | CF INDUSTRIES HOLDINGS INC (CF) - 1.19% | VERISIGN INC (VRSN) - 1.20% |
| Total Holdings | 106 | 347 |
FMAT vs CLSE - Historical Returns
Returns include dividend reinvestment.
1M
Winner
FMAT
+4.49%
CLSE
+4.46%
3M
FMAT
+6.40%
Winner
CLSE
+22.82%
6M
FMAT
+15.40%
Winner
CLSE
+27.45%
1Y
FMAT
+23.91%
Winner
CLSE
+51.49%
5Y(CAGR)
FMAT
+6.77%
Winner
CLSE
+21.87%
10Y(CAGR)
FMAT
+10.61%
CLSE
N/A
Max(CAGR)
FMAT
+9.15%
Winner
CLSE
+21.87%
FMAT vs CLSE - Annual Returns (2013 - 2026)
Returns include dividend reinvestment.
| Year | FMAT | CLSE |
|---|---|---|
| 2026 | +12.90% | +24.91% |
| 2025 | +13.29% | +19.81% |
| 2024 | +0.84% | +36.85% |
| 2023 | +13.85% | +17.91% |
| 2022 | -10.66% | -3.03% |
| 2021 | +28.83% | N/A |
| 2020 | +20.79% | N/A |
| 2019 | +22.83% | N/A |
| 2018 | -18.83% | N/A |
| 2017 | +22.61% | N/A |
| 2016 | +23.44% | N/A |
| 2015 | -10.02% | N/A |
| 2014 | +6.47% | N/A |
| 2013 | +5.12% | N/A |
FMAT vs CLSE Drawdown Comparison
The maximum drawdown for FMAT was -41.08%, occurring on Mar 23, 2020. Recovery took 654 trading sessions.
The maximum drawdown for CLSE was -16.45%, occurring on Apr 4, 2025. Recovery took 130 trading sessions.
The current FMAT drawdown is -2.54%.
| Rank | FMAT | CLSE |
|---|---|---|
| #1 | -41.08% Jan 26, 2018 - Sep 1, 2020 | -16.45% Jan 23, 2025 - Jul 31, 2025 |
| #2 | -27.23% Feb 24, 2015 - Nov 15, 2016 | -14.28% Apr 20, 2022 - Jul 17, 2023 |
| #3 | -25.40% Apr 20, 2022 - Feb 29, 2024 | -7.41% Jul 10, 2024 - Sep 19, 2024 |
| #4 | -23.17% Oct 18, 2024 - Dec 26, 2025 | -4.85% Feb 25, 2026 - Apr 7, 2026 |
| #5 | -13.47% Feb 27, 2026 - Mar 20, 2026 | -4.78% Oct 11, 2023 - Nov 9, 2023 |
| #6 | -12.14% Sep 5, 2014 - Feb 12, 2015 | -4.66% Apr 5, 2024 - May 8, 2024 |
| #7 | -10.68% Jan 4, 2022 - Mar 25, 2022 | -4.40% Nov 10, 2025 - Nov 28, 2025 |
| #8 | -10.63% May 17, 2021 - Nov 8, 2021 | -4.22% Dec 6, 2024 - Jan 21, 2025 |
| #9 | -9.11% Jan 12, 2021 - Mar 10, 2021 | -3.66% Mar 25, 2022 - Apr 20, 2022 |
| #10 | -7.81% Sep 17, 2020 - Oct 9, 2020 | -3.56% Mar 3, 2022 - Mar 15, 2022 |
| #11 | -7.72% Nov 12, 2021 - Dec 29, 2021 | -3.36% Jul 18, 2023 - Aug 31, 2023 |
| #12 | -6.81% Apr 9, 2024 - Jul 31, 2024 | -3.21% Sep 19, 2025 - Oct 24, 2025 |
| #13 | -6.69% Dec 31, 2013 - Feb 14, 2014 | -3.14% Jun 3, 2026 - Jun 15, 2026 |
| #14 | -6.65% Oct 12, 2020 - Nov 3, 2020 | -2.62% Feb 2, 2026 - Feb 6, 2026 |
| #15 | -6.57% Jul 31, 2024 - Aug 26, 2024 | -2.62% Nov 12, 2024 - Dec 6, 2024 |
Correlation
Correlation between FMAT and CLSE is 0.92 which considered as a very strong positive correlation - the stocks move almost identically together.
0.92
-101
Dividend Comparison (2013 - 2026)
FMAT vs CLSE dividend yield comparison.
| Year | FMAT | CLSE |
|---|---|---|
| 2026 | 0.33% | 0.00% |
| 2025 | 1.64% | 0.95% |
| 2024 | 1.68% | 0.93% |
| 2023 | 1.71% | 1.21% |
| 2022 | 2.00% | 0.85% |
| 2021 | 1.44% | 0.00% |
| 2020 | 1.73% | 0.00% |
| 2019 | 1.89% | 0.00% |
| 2018 | 2.18% | 0.00% |
| 2017 | 1.53% | 0.00% |
| 2016 | 1.78% | 0.00% |
| 2015 | 2.16% | 0.00% |
| 2014 | 1.65% | 0.00% |
| 2013 | 0.39% | 0.00% |
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