FENI vs. FFDI

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Enhanced International ETF (FENI) and Fidelity Fundamental Developed International ETF (FFDI).

FENI and FFDI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FENI is a passively managed fund by Fidelity that tracks the performance of the MSCI EAFE Index. It was launched on Dec 20, 2007. FFDI is managed by Fidelity.

Performance

FENI vs. FFDI - Performance Comparison

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

FENI vs. FFDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FENI Fidelity Enhanced International ETF	2.45%	37.27%	-0.97%
FFDI Fidelity Fundamental Developed International ETF	-1.62%	26.66%	-2.09%

Returns By Period

In the year-to-date period, FENI achieves a 2.45% return, which is significantly higher than FFDI's -1.62% return.

FENI

• 1D: 3.13%
• 1M: -7.92%
• YTD: 2.45%
• 6M: 7.28%
• 1Y: 29.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFDI

• 1D: 3.70%
• 1M: -7.78%
• YTD: -1.62%
• 6M: -0.36%
• 1Y: 15.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FENI vs. FFDI - Expense Ratio Comparison

FENI has a 0.28% expense ratio, which is lower than FFDI's 0.55% expense ratio.

FFDI

Fidelity Fundamental Developed International ETF

FENI

Fidelity Enhanced International ETF

Return for Risk

FENI vs. FFDI — Risk / Return Rank

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

FENI

FENI Risk / Return Rank: 85
FENI Sharpe Ratio Rank: 84
FENI Sortino Ratio Rank: 86
FENI Omega Ratio Rank: 85
FENI Calmar Ratio Rank: 85
FENI Martin Ratio Rank: 85

FFDI

FFDI Risk / Return Rank: 46
FFDI Sharpe Ratio Rank: 44
FFDI Sortino Ratio Rank: 46
FFDI Omega Ratio Rank: 45
FFDI Calmar Ratio Rank: 47
FFDI Martin Ratio Rank: 48

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. FFDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced International ETF (FENI) and Fidelity Fundamental Developed International ETF (FFDI). 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.

	FENI	FFDI	Difference
Sharpe ratio Return per unit of total volatility	1.61	0.84	+0.78
Sortino ratio Return per unit of downside risk	2.25	1.30	+0.95
Omega ratio Gain probability vs. loss probability	1.33	1.18	+0.15
Calmar ratio Return relative to maximum drawdown	2.43	1.23	+1.20
Martin ratio Return relative to average drawdown	9.39	4.68	+4.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FENI vs. FFDI - Sharpe Ratio Comparison

The current FENI Sharpe Ratio is 1.61, which is higher than the FFDI Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FENI and FFDI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FENI	FFDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	0.84	+0.78
Sharpe Ratio (All Time) Calculated using the full available price history	1.42	0.89	+0.53

Correlation

The correlation between FENI and FFDI is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FENI vs. FFDI - Dividend Comparison

FENI's dividend yield for the trailing twelve months is around 3.09%, more than FFDI's 2.25% yield.

	TTM	2025	2024
FENI Fidelity Enhanced International ETF	3.09%	2.99%	3.02%
FFDI Fidelity Fundamental Developed International ETF	2.25%	2.16%	0.39%

Drawdowns

FENI vs. FFDI - Drawdown Comparison

The maximum FENI drawdown since its inception was -14.20%, roughly equal to the maximum FFDI drawdown of -14.39%. Use the drawdown chart below to compare losses from any high point for FENI and FFDI.

Drawdown Indicators

	FENI	FFDI	Difference
Max Drawdown Largest peak-to-trough decline	-14.20%	-14.39%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-11.85%	+0.36%
Current Drawdown Current decline from peak	-8.31%	-8.54%	+0.23%
Average Drawdown Average peak-to-trough decline	-2.25%	-2.09%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	3.12%	-0.15%

Volatility

FENI vs. FFDI - Volatility Comparison

The current volatility for Fidelity Enhanced International ETF (FENI) is 8.12%, while Fidelity Fundamental Developed International ETF (FFDI) has a volatility of 9.17%. This indicates that FENI experiences smaller price fluctuations and is considered to be less risky than FFDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENI	FFDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	9.17%	-1.05%
Volatility (6M) Calculated over the trailing 6-month period	11.38%	12.29%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	18.94%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	18.09%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.30%	18.09%	-2.79%