The Fund Grade · free · no account needed
What grade does FIUIX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Fidelity Utilities Fund
#1 of 500 graded active funds · blend · mid segment peer group
The point · specialist footprint
FIUIX puts more of its book behind proven specialists than 77% of graded funds.
Bottom 20%
Bottom 40%
Middle
● Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds on this rung beat bottom-rung funds by about 3.8% per quarter, and beat the S&P in 43% of fund-quarters versus their 22%. The evidence argues this fund earns its seat.
10,000+ funds tracked · the graded specialists among them drive every read
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
FIUIX vs the Honor Roll · share card ↗Conviction exposure
42.1%
of the book in specialist-converged names
Late-stage weight
59.4%
of the book in Crowded or Fading names
Active share
97.7%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
FIUIX ranks first out of 500 graded funds, with specialists holding 42% of the fund and showing early conviction in VZ and small satellite play GSAT. The concern is that nearly 60% sits in late-stage positions, and top holding NEE at 10.9% is actively being exited by those same specialists.
→ Watch NEE closely: at 10.9% of the fund, specialists fading this position makes it the single biggest risk to returns.
→ VZ at 8.2% and GSAT at 0.7% are where specialists are genuinely early, worth tracking as the thesis develops.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.