FENI vs. IDHQ
FENI (Fidelity Enhanced International ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both exchange-traded funds - FENI is a Foreign Large Cap Equities fund actively managed by Fidelity, while IDHQ is a Quality Factor fund tracking the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. FENI is actively managed, while IDHQ is passively managed. Over the past year, FENI returned 28.63% vs 42.41% for IDHQ. Their correlation of 0.90 means they have usually moved in the same direction. FENI charges 0.28%/yr vs 0.29%/yr for IDHQ.
Performance
FENI vs. IDHQ - Performance Comparison
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Returns By Period
In the year-to-date period, FENI achieves a 13.37% return, which is significantly lower than IDHQ's 27.25% return.
FENI
- 1D
- 0.32%
- 1M
- 1.19%
- 6M
- 6.20%
- YTD
- 13.37%
- 1Y
- 28.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.27%
IDHQ
- 1D
- 0.78%
- 1M
- 0.59%
- 6M
- 18.33%
- YTD
- 27.25%
- 1Y
- 42.41%
- 3Y*
- 20.69%
- 5Y*
- 9.61%
- 10Y*
- 10.76%
- ALL TIME*
- 5.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $50.45M | $59.07M | $59.10M | |
| $6.00M | $6.33M | $5.63M |
FENI vs. IDHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FENI Fidelity Enhanced International ETF | 13.37% | 37.27% | 6.95% | 5.75% |
IDHQ Invesco S&P International Developed High Quality ETF | 27.25% | 27.46% | 1.33% | 5.97% |
Correlation
The correlation between FENI and IDHQ is 0.91, 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. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.90 |
The correlation between FENI and IDHQ has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
FENI vs. IDHQ — Risk / Return Rank
FENI
IDHQ
FENI vs. IDHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced International ETF (FENI) and Invesco S&P International Developed High Quality ETF (IDHQ). 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 | IDHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.37 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 3.17 | -0.67 |
| Martin ratioReturn relative to average drawdown | 9.53 | 12.70 | -3.18 |
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Drawdowns
FENI vs. IDHQ - Drawdown Comparison
The maximum FENI drawdown since its inception was -14.20%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for FENI and IDHQ.
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Drawdown Indicators
| FENI | IDHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.20% | -73.84% | +59.64% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -13.44% | +1.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.07% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.54% | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.27% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -21.03% | +18.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.35% | -0.34% |
Volatility
FENI vs. IDHQ - Volatility Comparison
Fidelity Enhanced International ETF (FENI) has a higher volatility of 4.76% compared to Invesco S&P International Developed High Quality ETF (IDHQ) at 4.02%. This indicates that FENI's price experiences larger fluctuations and is considered to be riskier than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FENI | IDHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 4.02% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 18.89% | -4.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 20.72% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.78% | 17.86% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 17.98% | -2.20% |
FENI vs. IDHQ - Expense Ratio Comparison
FENI has a 0.28% expense ratio, which is lower than IDHQ's 0.29% expense ratio.
Dividends
FENI vs. IDHQ - Dividend Comparison
FENI's dividend yield for the trailing twelve months is around 2.88%, more than IDHQ's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FENI Fidelity Enhanced International ETF | 2.88% | 2.99% | 3.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IDHQ Invesco S&P International Developed High Quality ETF | 1.99% | 2.46% | 2.41% | 2.52% | 3.33% | 2.10% | 1.60% | 2.10% | 2.67% | 1.68% | 2.36% | 1.71% |
Frequently Asked Questions
With a correlation of 0.91, FENI and IDHQ 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.
FENI has higher volatility (4.76%) compared to IDHQ (4.02%). In terms of maximum drawdown, FENI dropped -14.20% vs IDHQ's -73.84%.
On 1-year performance, IDHQ leads with 42.41% vs 28.63% for FENI. On fees, FENI is cheaper at 0.28% per year. On volatility, IDHQ has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IDHQ has performed better with a 42.41% return vs 28.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FENI is cheaper with a 0.28% expense ratio, compared with 0.29% for IDHQ.
FENI has the higher dividend yield at 2.88%, compared with 1.99% for IDHQ.
FENI is categorized as Foreign Large Cap Equities, while IDHQ is Quality Factor. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.28% for FENI and 0.29% for IDHQ.
IDHQ currently has the higher Sharpe Ratio (2.06 vs 1.76), 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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