FENI vs. SGOIX

Last updated Aug 4, 2026

FENI (Fidelity Enhanced International ETF) and SGOIX (First Eagle Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past year, FENI returned 28.63% vs 29.00% for SGOIX. Their correlation of 0.83 means they have usually moved in the same direction. FENI charges 0.28%/yr vs 0.88%/yr for SGOIX.

Performance

FENI vs. SGOIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FENI achieves a 13.37% return, which is significantly higher than SGOIX's 11.27% return.

FENI

• 1D: 0.32%
• 1M: 1.19%
• 6M: 6.20%
• YTD: 13.37%
• 1Y: 28.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.27%

SGOIX

• 1D: -0.77%
• 1M: 3.29%
• 6M: 4.81%
• YTD: 11.27%
• 1Y: 29.00%
• 3Y*: 18.83%
• 5Y*: 10.84%
• 10Y*: 8.35%
• ALL TIME*: 10.10%

*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)
FENI Fidelity Enhanced International ETF	$50.45M	$59.07M	$59.10M
SGOIX First Eagle Overseas Fund Class I	$0.00	$0.00	$0.00

FENI vs. SGOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FENI Fidelity Enhanced International ETF	13.37%	37.27%	6.95%	5.75%
SGOIX First Eagle Overseas Fund Class I	11.27%	39.06%	6.45%	4.25%

Correlation

The correlation between FENI and SGOIX is 0.84, 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.	0.84
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.83

The correlation between FENI and SGOIX has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

FENI vs. SGOIX — Risk / Return Rank

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

FENI

FENI Risk / Return Rank: 74
FENI Sharpe Ratio Rank: 76
FENI Sortino Ratio Rank: 76
FENI Omega Ratio Rank: 74
FENI Calmar Ratio Rank: 70
FENI Martin Ratio Rank: 75

SGOIX

SGOIX Risk / Return Rank: 77
SGOIX Sharpe Ratio Rank: 90
SGOIX Sortino Ratio Rank: 83
SGOIX Omega Ratio Rank: 84
SGOIX Calmar Ratio Rank: 77
SGOIX Martin Ratio Rank: 51

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.

FENI vs. SGOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced International ETF (FENI) and First Eagle Overseas Fund Class I (SGOIX). 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	SGOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.28	-0.52
Sortino ratio: Return per unit of downside risk	2.49	3.00	-0.51
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.10
Calmar ratio: Return relative to maximum drawdown	2.50	2.60	-0.09
Martin ratio: Return relative to average drawdown	9.53	7.55	+1.97

FENI vs. SGOIX - Sharpe Ratio Comparison

The current FENI Sharpe Ratio is 1.76, which is comparable to the SGOIX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FENI and SGOIX, 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. SGOIX - Drawdown Comparison

The maximum FENI drawdown since its inception was -14.20%, smaller than the maximum SGOIX drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for FENI and SGOIX.

Drawdown Indicators

	FENI	SGOIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.20%	-35.54%	+21.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-11.35%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.79%	—
Current Drawdown Current decline from peak	-0.05%	-2.35%	+2.30%
Average Drawdown Average peak-to-trough decline	-2.24%	-4.57%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.90%	-0.89%

Volatility

FENI vs. SGOIX - Volatility Comparison

Fidelity Enhanced International ETF (FENI) has a higher volatility of 4.76% compared to First Eagle Overseas Fund Class I (SGOIX) at 3.50%. This indicates that FENI's price experiences larger fluctuations and is considered to be riskier than SGOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENI	SGOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	3.50%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	11.17%	+3.08%
Volatility (1Y) Calculated over the trailing 1-year period	16.36%	12.96%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	12.05%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.78%	11.44%	+4.34%

FENI vs. SGOIX - Expense Ratio Comparison

FENI has a 0.28% expense ratio, which is lower than SGOIX's 0.88% expense ratio.

Dividends

FENI vs. SGOIX - Dividend Comparison

FENI's dividend yield for the trailing twelve months is around 2.88%, less than SGOIX's 7.60% 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%
SGOIX First Eagle Overseas Fund Class I	7.60%	8.45%	8.49%	2.45%	3.81%	5.92%	0.47%	5.70%	3.36%	3.59%	3.80%	1.58%

Frequently Asked Questions

Can I hold both FENI and SGOIX in my portfolio?

FENI and SGOIX have a correlation of 0.84, 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 SGOIX?

FENI has higher volatility (4.76%) compared to SGOIX (3.50%). In terms of maximum drawdown, FENI dropped -14.20% vs SGOIX's -35.54%.

Which has better risk-adjusted returns?

SGOIX currently has the higher Sharpe Ratio (2.28 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.