DVXE vs. FENY
DVXE (WEBs Energy XLE Defined Volatility ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds - DVXE tracks the Syntax Defined Volatility XLE Index while FENY tracks the MSCI USA IMI Energy 25/50 Index. Both are passively managed. Over the past year, DVXE returned 61.29% vs 43.91% for FENY. Their 0.98 correlation means they have historically moved very closely together. DVXE charges 0.89%/yr vs 0.08%/yr for FENY.
Performance
DVXE vs. FENY - Performance Comparison
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Returns By Period
In the year-to-date period, DVXE achieves a 50.61% return, which is significantly higher than FENY's 35.12% return.
DVXE
- 1D
- 1.38%
- 1M
- 15.67%
- 6M
- 26.93%
- YTD
- 50.61%
- 1Y
- 61.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 55.89%
FENY
- 1D
- 1.04%
- 1M
- 11.58%
- 6M
- 18.35%
- YTD
- 35.12%
- 1Y
- 43.91%
- 3Y*
- 14.81%
- 5Y*
- 23.67%
- 10Y*
- 9.96%
- ALL TIME*
- 5.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.59K | $12.40K | $16.43K | |
| $45.95M | $44.20M | $53.46M |
DVXE vs. FENY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 50.61% | 4.49% |
FENY Fidelity MSCI Energy Index ETF | 35.12% | 6.60% |
Correlation
The correlation between DVXE and FENY is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025 | 0.98 |
The correlation between DVXE and FENY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
DVXE vs. FENY — Risk / Return Rank
DVXE
FENY
DVXE vs. FENY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WEBs Energy XLE Defined Volatility ETF (DVXE) and Fidelity MSCI Energy Index ETF (FENY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DVXE | FENY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 2.76 | -0.17 |
| Martin ratioReturn relative to average drawdown | 6.05 | 7.45 | -1.39 |
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Drawdowns
DVXE vs. FENY - Drawdown Comparison
The maximum DVXE drawdown since its inception was -21.83%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for DVXE and FENY.
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Drawdown Indicators
| DVXE | FENY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.83% | -74.35% | +52.52% |
Max Drawdown (1Y)Largest decline over 1 year | -21.83% | -14.96% | -6.87% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -69.07% | — |
Current DrawdownCurrent decline from peak | -8.57% | -4.34% | -4.23% |
Average DrawdownAverage peak-to-trough decline | -7.25% | -22.95% | +15.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.37% | 5.56% | +3.81% |
Volatility
DVXE vs. FENY - Volatility Comparison
WEBs Energy XLE Defined Volatility ETF (DVXE) has a higher volatility of 8.29% compared to Fidelity MSCI Energy Index ETF (FENY) at 5.96%. This indicates that DVXE's price experiences larger fluctuations and is considered to be riskier than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVXE | FENY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 5.96% | +2.33% |
Volatility (6M)Calculated over the trailing 6-month period | 22.36% | 16.62% | +5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.92% | 20.94% | +9.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.78% | 26.20% | +4.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.78% | 29.78% | +1.00% |
DVXE vs. FENY - Expense Ratio Comparison
DVXE has a 0.89% expense ratio, which is higher than FENY's 0.08% expense ratio.
Dividends
DVXE vs. FENY - Dividend Comparison
DVXE has not paid dividends to shareholders, while FENY's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVXE WEBs Energy XLE Defined Volatility ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FENY Fidelity MSCI Energy Index ETF | 2.35% | 3.18% | 3.05% | 3.33% | 3.33% | 3.69% | 4.60% | 6.43% | 3.21% | 2.94% | 2.29% | 3.05% |
Frequently Asked Questions
With a correlation of 0.98, DVXE and FENY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DVXE has higher volatility (8.29%) compared to FENY (5.96%). In terms of maximum drawdown, DVXE dropped -21.83% vs FENY's -74.35%.
On 1-year performance, DVXE leads with 61.29% vs 43.91% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, FENY has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DVXE has performed better with a 61.29% return vs 43.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FENY is cheaper with a 0.08% expense ratio, compared with 0.89% for DVXE.
FENY has the higher dividend yield at 2.35%, compared with 0.00% for DVXE.
DVXE tracks Syntax Defined Volatility XLE Index, while FENY tracks MSCI USA IMI Energy 25/50 Index. They also come from different issuers: WEBs and Fidelity. Their fees differ too: 0.89% for DVXE and 0.08% for FENY.
FENY currently has the higher Sharpe Ratio (1.97 vs 1.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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