FTEC: Technology Dashboard For March

The software and IT services sub-sectors are undervalued based on historical baselines, while hardware is overvalued and of low quality. Fidelity MSCI Information Technology Index ETF offers low-cost, broad tech sector exposure with 288 holdings and a 0.08% expense ratio. FTEC is marginally cheaper than XLK on valuation ratios, but both ETFs have nearly identical long-term returns and risk metrics.