FENY vs. BESF

Last updated Jun 24, 2026

FENY (Fidelity MSCI Energy Index ETF) and BESF (Bastion Energy ETF) are both Energy Equities funds. FENY is passively managed, while BESF is actively managed. Over the past year, FENY returned 30.81% vs 61.61% for BESF. A 0.61 correlation means they provide meaningful diversification when combined. FENY charges 0.08%/yr vs 0.80%/yr for BESF.

Performance

FENY vs. BESF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and Bastion Energy ETF (BESF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FENY achieves a 23.55% return, which is significantly higher than BESF's 16.12% return.

FENY

• 1D: 0.63%
• 1M: -7.95%
• YTD: 23.55%
• 6M: 24.05%
• 1Y: 30.81%
• 3Y*: 16.13%
• 5Y*: 18.76%
• 10Y*: 8.75%

BESF

• 1D: 1.01%
• 1M: -6.28%
• YTD: 16.12%
• 6M: 15.17%
• 1Y: 61.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FENY vs. BESF - Yearly Performance Comparison

	2026 (YTD)	2025
FENY Fidelity MSCI Energy Index ETF	23.55%	9.93%
BESF Bastion Energy ETF	16.12%	38.76%

Correlation

The correlation between FENY and BESF is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.61

The correlation between FENY and BESF has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

FENY vs. BESF — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 43
FENY Sharpe Ratio Rank: 45
FENY Sortino Ratio Rank: 41
FENY Omega Ratio Rank: 39
FENY Calmar Ratio Rank: 46
FENY Martin Ratio Rank: 43

BESF

BESF Risk / Return Rank: 84
BESF Sharpe Ratio Rank: 86
BESF Sortino Ratio Rank: 83
BESF Omega Ratio Rank: 77
BESF Calmar Ratio Rank: 92
BESF Martin Ratio Rank: 83

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.

FENY vs. BESF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and Bastion Energy ETF (BESF). 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.

	FENY	BESF	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.52	-1.02
Sortino ratio: Return per unit of downside risk	2.02	3.34	-1.32
Omega ratio: Gain probability vs. loss probability	1.25	1.41	-0.16
Calmar ratio: Return relative to maximum drawdown	2.19	5.64	-3.46
Martin ratio: Return relative to average drawdown	6.73	15.57	-8.84

FENY vs. BESF - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 1.50, which is lower than the BESF Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FENY and BESF, 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

FENY vs. BESF - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than BESF's maximum drawdown of -10.97%. Use the drawdown chart below to compare losses from any high point for FENY and BESF.

Drawdown Indicators

	FENY	BESF	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-10.97%	-63.38%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-10.97%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-21.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-12.53%	-8.73%	-3.80%
Average Drawdown Average peak-to-trough decline	-23.06%	-2.74%	-20.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	3.97%	+0.62%

Volatility

FENY vs. BESF - Volatility Comparison

Fidelity MSCI Energy Index ETF (FENY) and Bastion Energy ETF (BESF) have volatilities of 7.07% and 6.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENY	BESF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.07%	6.97%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	14.93%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	20.81%	24.75%	-3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.43%	24.39%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.81%	24.39%	+5.42%

FENY vs. BESF - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than BESF's 0.80% expense ratio.

Dividends

FENY vs. BESF - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.57%, less than BESF's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BESF Bastion Energy ETF	5.86%	6.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FENY Fidelity MSCI Energy Index ETF	2.57%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%

Frequently Asked Questions

Can I hold both FENY and BESF in my portfolio?

FENY and BESF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FENY or BESF?

FENY has higher volatility (7.07%) compared to BESF (6.97%). In terms of maximum drawdown, FENY dropped -74.35% vs BESF's -10.97%.

Which ETF is better, FENY or BESF?

On 1-year performance, BESF leads with 61.61% vs 30.81% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, BESF has been the lower-risk option at 6.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FENY or BESF?

Over the 1-year period, BESF has performed better with a 61.61% return vs 30.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FENY or BESF?

FENY is cheaper with a 0.08% expense ratio, compared with 0.80% for BESF.

Which ETF pays a higher dividend yield, FENY or BESF?

BESF has the higher dividend yield at 5.86%, compared with 2.57% for FENY.

What is the main difference between FENY and BESF?

They also come from different issuers: Fidelity and Bastion. Their fees differ too: 0.08% for FENY and 0.80% for BESF.

Which has better risk-adjusted returns?

BESF currently has the higher Sharpe Ratio (2.52 vs 1.50), 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.