FENI vs. VXUS

Last updated Jun 23, 2026

FENI (Fidelity Enhanced International ETF) and VXUS (Vanguard Total International Stock ETF) are both exchange-traded funds - FENI is a Foreign Large Cap Equities fund actively managed by Fidelity, while VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index. FENI is actively managed, while VXUS is passively managed. Over the past year, FENI returned 30.41% vs 34.50% for VXUS. Their correlation of 0.94 suggests significant overlap in exposure. FENI charges 0.28%/yr vs 0.05%/yr for VXUS.

Performance

FENI vs. VXUS - Performance Comparison

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

Returns By Period

In the year-to-date period, FENI achieves a 12.51% return, which is significantly lower than VXUS's 16.04% return.

FENI

• 1D: 0.40%
• 1M: 2.24%
• YTD: 12.51%
• 6M: 12.63%
• 1Y: 30.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VXUS

• 1D: 0.33%
• 1M: 3.54%
• YTD: 16.04%
• 6M: 16.58%
• 1Y: 34.50%
• 3Y*: 20.13%
• 5Y*: 9.22%
• 10Y*: 10.57%

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

FENI vs. VXUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FENI Fidelity Enhanced International ETF	12.51%	37.27%	6.95%	5.75%
VXUS Vanguard Total International Stock ETF	16.04%	32.35%	5.08%	5.96%

Correlation

The correlation between FENI and VXUS is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.94

The correlation between FENI and VXUS has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

FENI vs. VXUS - Sectors Allocation Comparison

Sectors	FENI	VXUS
Financial Services	24.2%	21.7%
Industrials	22.4%	15.6%
Technology	13.5%	21.0%
Healthcare	8.3%	6.8%
Consumer Cyclical	7.4%	8.2%
Consumer Defensive	6.4%	4.8%
Basic Materials	4.5%	7.6%
Energy	4.5%	4.7%
Utilities	3.8%	3.0%
Communication Services	3.7%	4.4%
Real Estate	1.4%	2.4%

Return for Risk

FENI vs. VXUS — Risk / Return Rank

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

FENI

FENI Risk / Return Rank: 58
FENI Sharpe Ratio Rank: 59
FENI Sortino Ratio Rank: 58
FENI Omega Ratio Rank: 58
FENI Calmar Ratio Rank: 55
FENI Martin Ratio Rank: 59

VXUS

VXUS Risk / Return Rank: 67
VXUS Sharpe Ratio Rank: 69
VXUS Sortino Ratio Rank: 66
VXUS Omega Ratio Rank: 70
VXUS Calmar Ratio Rank: 64
VXUS Martin Ratio Rank: 66

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. VXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced International ETF (FENI) and Vanguard Total International Stock ETF (VXUS). 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	VXUS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.16	-0.25
Sortino ratio: Return per unit of downside risk	2.67	2.92	-0.25
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	2.66	3.07	-0.41
Martin ratio: Return relative to average drawdown	10.07	11.84	-1.77

FENI vs. VXUS - Sharpe Ratio Comparison

The current FENI Sharpe Ratio is 1.91, which is comparable to the VXUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FENI and VXUS, 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. VXUS - Drawdown Comparison

The maximum FENI drawdown since its inception was -14.20%, smaller than the maximum VXUS drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for FENI and VXUS.

Drawdown Indicators

	FENI	VXUS	Difference
Max Drawdown Largest peak-to-trough decline	-14.20%	-35.97%	+21.77%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-11.27%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.97%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.27%	-8.20%	+5.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	2.92%	+0.11%

Volatility

FENI vs. VXUS - Volatility Comparison

The current volatility for Fidelity Enhanced International ETF (FENI) is 5.21%, while Vanguard Total International Stock ETF (VXUS) has a volatility of 6.28%. This indicates that FENI experiences smaller price fluctuations and is considered to be less risky than VXUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENI	VXUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	6.28%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	13.72%	14.10%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	16.08%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	16.21%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	17.18%	-1.44%

FENI vs. VXUS - Expense Ratio Comparison

FENI has a 0.28% expense ratio, which is higher than VXUS's 0.05% expense ratio.

Dividends

FENI vs. VXUS - Dividend Comparison

FENI's dividend yield for the trailing twelve months is around 2.91%, more than VXUS's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENI Fidelity Enhanced International ETF	2.91%	2.99%	3.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VXUS Vanguard Total International Stock ETF	2.51%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both FENI and VXUS in my portfolio?

With a correlation of 0.95, FENI and VXUS 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.

Which is riskier, FENI or VXUS?

VXUS has higher volatility (6.28%) compared to FENI (5.21%). In terms of maximum drawdown, FENI dropped -14.20% vs VXUS's -35.97%.

Which ETF is better, FENI or VXUS?

On 1-year performance, VXUS leads with 34.50% vs 30.41% for FENI. On fees, VXUS is cheaper at 0.05% per year. On volatility, FENI has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FENI or VXUS?

Over the 1-year period, VXUS has performed better with a 34.50% return vs 30.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FENI or VXUS?

VXUS is cheaper with a 0.05% expense ratio, compared with 0.28% for FENI.

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

FENI has the higher dividend yield at 2.91%, compared with 2.51% for VXUS.

What is the main difference between FENI and VXUS?

FENI is categorized as Foreign Large Cap Equities, while VXUS is Global Equities. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.28% for FENI and 0.05% for VXUS.

Which has better risk-adjusted returns?

VXUS currently has the higher Sharpe Ratio (2.16 vs 1.91), 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.