FENI vs. FETH

Last updated Jun 24, 2026

FENI (Fidelity Enhanced International ETF) and FETH (Fidelity Ethereum Fund) are both exchange-traded funds - FENI is a Foreign Large Cap Equities fund actively managed by Fidelity, while FETH is a Cryptocurrency fund tracking the Fidelity Ethereum Reference Rate Index. FENI is actively managed, while FETH is passively managed. Over the past year, FENI returned 26.92% vs -28.45% for FETH. At a 0.39 correlation, their price movements are largely independent. FENI charges 0.28%/yr vs 0.25%/yr for FETH.

Performance

FENI vs. FETH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced International ETF (FENI) and Fidelity Ethereum Fund (FETH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FENI achieves a 10.12% return, which is significantly higher than FETH's -44.11% return.

FENI

• 1D: -2.12%
• 1M: 0.07%
• YTD: 10.12%
• 6M: 9.52%
• 1Y: 26.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FETH

• 1D: -4.17%
• 1M: -19.46%
• YTD: -44.11%
• 6M: -44.07%
• 1Y: -28.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FENI vs. FETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FENI Fidelity Enhanced International ETF	10.12%	37.27%	-4.17%
FETH Fidelity Ethereum Fund	-44.11%	-11.37%	-4.68%

Correlation

The correlation between FENI and FETH is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024	0.39

Return for Risk

FENI vs. FETH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FENI

FENI Risk / Return Rank: 51
FENI Sharpe Ratio Rank: 50
FENI Sortino Ratio Rank: 50
FENI Omega Ratio Rank: 50
FENI Calmar Ratio Rank: 49
FENI Martin Ratio Rank: 53

FETH

FETH Risk / Return Rank: 6
FETH Sharpe Ratio Rank: 5
FETH Sortino Ratio Rank: 6
FETH Omega Ratio Rank: 6
FETH Calmar Ratio Rank: 5
FETH Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FENI vs. FETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced International ETF (FENI) and Fidelity Ethereum Fund (FETH). 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.

	FENI	FETH	Difference
Sharpe ratio: Return per unit of total volatility	1.67	-0.41	+2.09
Sortino ratio: Return per unit of downside risk	2.37	-0.20	+2.57
Omega ratio: Gain probability vs. loss probability	1.30	0.98	+0.33
Calmar ratio: Return relative to maximum drawdown	2.35	-0.42	+2.78
Martin ratio: Return relative to average drawdown	8.91	-0.70	+9.61

FENI vs. FETH - Sharpe Ratio Comparison

The current FENI Sharpe Ratio is 1.67, which is higher than the FETH Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of FENI and FETH, 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

FENI vs. FETH - Drawdown Comparison

The maximum FENI drawdown since its inception was -14.20%, smaller than the maximum FETH drawdown of -67.57%. Use the drawdown chart below to compare losses from any high point for FENI and FETH.

Drawdown Indicators

	FENI	FETH	Difference
Max Drawdown Largest peak-to-trough decline	-14.20%	-67.57%	+53.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-67.57%	+56.08%
Current Drawdown Current decline from peak	-2.12%	-65.81%	+63.69%
Average Drawdown Average peak-to-trough decline	-2.27%	-33.69%	+31.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	40.48%	-37.45%

Volatility

FENI vs. FETH - Volatility Comparison

The current volatility for Fidelity Enhanced International ETF (FENI) is 5.65%, while Fidelity Ethereum Fund (FETH) has a volatility of 19.78%. This indicates that FENI experiences smaller price fluctuations and is considered to be less risky than FETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENI	FETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	19.78%	-14.13%
Volatility (6M) Calculated over the trailing 6-month period	13.88%	46.89%	-33.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	69.15%	-52.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.79%	72.38%	-56.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	72.38%	-56.59%

FENI vs. FETH - Expense Ratio Comparison

FENI has a 0.28% expense ratio, which is higher than FETH's 0.25% expense ratio.

Dividends

FENI vs. FETH - Dividend Comparison

FENI's dividend yield for the trailing twelve months is around 2.97%, while FETH has not paid dividends to shareholders.

Position	TTM	2025	2024
FENI Fidelity Enhanced International ETF	2.97%	2.99%	3.02%
FETH Fidelity Ethereum Fund	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FENI and FETH in my portfolio?

FENI and FETH have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FENI or FETH?

FETH has higher volatility (19.78%) compared to FENI (5.65%). In terms of maximum drawdown, FENI dropped -14.20% vs FETH's -67.57%.

Which ETF is better, FENI or FETH?

On 1-year performance, FENI leads with 26.92% vs -28.45% for FETH. On fees, FETH is cheaper at 0.25% per year. On volatility, FENI has been the lower-risk option at 5.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FENI or FETH?

Over the 1-year period, FENI has performed better with a 26.92% return vs -28.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FENI or FETH?

FETH is cheaper with a 0.25% expense ratio, compared with 0.28% for FENI.

Which ETF pays a higher dividend yield, FENI or FETH?

FENI has the higher dividend yield at 2.97%, compared with 0.00% for FETH.

What is the main difference between FENI and FETH?

FENI is categorized as Foreign Large Cap Equities, while FETH is Cryptocurrency. Their fees differ too: 0.28% for FENI and 0.25% for FETH.

Which has better risk-adjusted returns?

FENI currently has the higher Sharpe Ratio (1.67 vs -0.41), 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.