EIPX vs. FENY

Last updated Aug 2, 2026

EIPX (FT Energy Income Partners Strategy ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds. EIPX is actively managed, while FENY is passively managed. Over the past 3 years, EIPX returned 19.41%/yr vs 14.81%/yr for FENY. Their correlation of 0.86 means they have usually moved in the same direction. EIPX charges 0.95%/yr vs 0.08%/yr for FENY.

Performance

EIPX vs. FENY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Energy Income Partners Strategy ETF (EIPX) and Fidelity MSCI Energy Index ETF (FENY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIPX achieves a 24.74% return, which is significantly lower than FENY's 35.12% return.

EIPX

• 1D: 0.49%
• 1M: 3.77%
• 6M: 14.96%
• YTD: 24.74%
• 1Y: 29.89%
• 3Y*: 19.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.15%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EIPX FT Energy Income Partners Strategy ETF	$1.76M	$1.94M	$1.35M
FENY Fidelity MSCI Energy Index ETF	$45.95M	$44.20M	$53.46M

EIPX vs. FENY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIPX FT Energy Income Partners Strategy ETF	24.74%	11.44%	19.11%	10.74%	1.77%
FENY Fidelity MSCI Energy Index ETF	35.12%	7.27%	6.62%	-0.04%	-1.33%

Correlation

The correlation between EIPX and FENY is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.86

The correlation between EIPX and FENY has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

EIPX vs. FENY - Sectors Allocation Comparison

Sectors	EIPX	FENY
Energy	68.3%	99.6%
Utilities	27.0%	0.1%
Industrials	4.5%	0.1%
Technology	0.3%	-
Basic Materials	-	0.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

EIPX vs. FENY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EIPX

EIPX Risk / Return Rank: 93
EIPX Sharpe Ratio Rank: 93
EIPX Sortino Ratio Rank: 93
EIPX Omega Ratio Rank: 91
EIPX Calmar Ratio Rank: 95
EIPX Martin Ratio Rank: 92

FENY

FENY Risk / Return Rank: 76
FENY Sharpe Ratio Rank: 85
FENY Sortino Ratio Rank: 79
FENY Omega Ratio Rank: 77
FENY Calmar Ratio Rank: 78
FENY Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EIPX vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Energy Income Partners Strategy ETF (EIPX) 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.

	EIPX	FENY	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.97	+0.54
Sortino ratio: Return per unit of downside risk	3.59	2.55	+1.05
Omega ratio: Gain probability vs. loss probability	1.43	1.32	+0.11
Calmar ratio: Return relative to maximum drawdown	5.56	2.76	+2.80
Martin ratio: Return relative to average drawdown	15.59	7.45	+8.14

EIPX vs. FENY - Sharpe Ratio Comparison

The current EIPX Sharpe Ratio is 2.51, which is comparable to the FENY Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of EIPX and FENY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EIPX vs. FENY - Drawdown Comparison

The maximum EIPX drawdown since its inception was -15.43%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for EIPX and FENY.

Drawdown Indicators

	EIPX	FENY	Difference
Max Drawdown Largest peak-to-trough decline	-15.43%	-74.35%	+58.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.17%	-14.96%	+9.79%
Max Drawdown (3Y) Largest decline over 3 years	-15.43%	-21.47%	+6.04%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-69.07%	—
Current Drawdown Current decline from peak	-0.94%	-4.34%	+3.40%
Average Drawdown Average peak-to-trough decline	-2.28%	-22.95%	+20.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	5.56%	-3.71%

Volatility

EIPX vs. FENY - Volatility Comparison

The current volatility for FT Energy Income Partners Strategy ETF (EIPX) is 3.45%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 5.96%. This indicates that EIPX experiences smaller price fluctuations and is considered to be less risky than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIPX	FENY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	5.96%	-2.51%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	16.62%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	11.44%	20.94%	-9.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	26.20%	-11.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	29.78%	-14.83%

EIPX vs. FENY - Expense Ratio Comparison

EIPX has a 0.95% expense ratio, which is higher than FENY's 0.08% expense ratio.

Dividends

EIPX vs. FENY - Dividend Comparison

EIPX's dividend yield for the trailing twelve months is around 2.69%, more than FENY's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPX FT Energy Income Partners Strategy ETF	2.69%	3.23%	3.27%	3.48%	0.34%	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

Can I hold both EIPX and FENY in my portfolio?

EIPX and FENY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPX or FENY?

FENY has higher volatility (5.96%) compared to EIPX (3.45%). In terms of maximum drawdown, EIPX dropped -15.43% vs FENY's -74.35%.

Which ETF is better, EIPX or FENY?

On 3-year performance, EIPX leads with 19.41% vs 14.81% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, EIPX has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIPX or FENY?

Over the 3-year period, EIPX has performed better with a 19.41% return vs 14.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIPX or FENY?

FENY is cheaper with a 0.08% expense ratio, compared with 0.95% for EIPX.

Which ETF pays a higher dividend yield, EIPX or FENY?

EIPX has the higher dividend yield at 2.69%, compared with 2.35% for FENY.

What is the main difference between EIPX and FENY?

They also come from different issuers: First Trust and Fidelity. Their fees differ too: 0.95% for EIPX and 0.08% for FENY.

Which has better risk-adjusted returns?

EIPX currently has the higher Sharpe Ratio (2.51 vs 1.97), 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.