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FENY vs. FDVV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FENY vs. FDVV

Last updated Jun 4, 2026

FENY (Fidelity MSCI Energy Index ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, FENY returned 20.48%/yr vs 13.36%/yr for FDVV. A 0.60 correlation means they provide meaningful diversification when combined. FENY charges 0.08%/yr vs 0.29%/yr for FDVV.

Performance

FENY vs. FDVV - Performance Comparison

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

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Returns By Period

In the year-to-date period, FENY achieves a 32.28% return, which is significantly higher than FDVV's 8.39% return.

FENY

1D
1.12%
1M
-2.02%
YTD
32.28%
6M
29.37%
1Y
45.42%
3Y*
17.98%
5Y*
20.48%
10Y*
9.57%

FDVV

1D
-1.12%
1M
4.44%
YTD
8.39%
6M
8.67%
1Y
23.45%
3Y*
20.08%
5Y*
13.36%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FENY vs. FDVV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FENY
Fidelity MSCI Energy Index ETF		32.28%7.27%6.62%-0.04%62.94%55.62%-33.15%9.11%-19.99%-2.30%
FDVV
Fidelity High Dividend ETF		8.39%17.08%21.81%18.00%-4.21%29.24%2.80%24.07%-1.26%14.00%

Correlation

The correlation between FENY and FDVV is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.40

Correlation (5Y)
Calculated over the trailing 5-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2016

0.60

Over the past year, the correlation between FENY and FDVV has dropped to 0.12 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

FENY vs. FDVV - Sectors Allocation Comparison

Sectors
FENY
FDVV

Energy

99.7%

-

Basic Materials

0.2%

-

Industrials

0.1%
3.4%

Communication Services

-

3.7%

Consumer Cyclical

-

13.6%

Consumer Defensive

-

11.0%

Financial Services

-

17.0%

Healthcare

-

3.1%

Real Estate

-

10.1%

Technology

-

29.1%

Utilities

-

8.7%

Energy

FENY
99.7%
FDVV

-

Basic Materials

FENY
0.2%
FDVV

-

Industrials

FENY
0.1%
FDVV
3.4%

Communication Services

FENY

-

FDVV
3.7%

Consumer Cyclical

FENY

-

FDVV
13.6%

Consumer Defensive

FENY

-

FDVV
11.0%

Financial Services

FENY

-

FDVV
17.0%

Healthcare

FENY

-

FDVV
3.1%

Real Estate

FENY

-

FDVV
10.1%

Technology

FENY

-

FDVV
29.1%

Utilities

FENY

-

FDVV
8.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity MSCI Energy Index ETF

Fidelity High Dividend ETF

Often compared with FENY:
FENY vs. XLEFENY vs. VDEFENY vs. FSENXFENY vs. IYEFENY vs. FNARXFENY vs. SCHDFENY vs. IEO
Often compared with FDVV:
FDVV vs. SCHDFDVV vs. VYMFDVV vs. VOOFDVV vs. SPYDFDVV vs. FDRRFDVV vs. DESFDVV vs. FGRIX

Return for Risk

FENY vs. FDVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FENY
FENY Risk / Return Rank: 6464
Overall Rank
FENY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
FENY Sortino Ratio Rank: 6060
Sortino Ratio Rank
FENY Omega Ratio Rank: 5757
Omega Ratio Rank
FENY Calmar Ratio Rank: 7575
Calmar Ratio Rank
FENY Martin Ratio Rank: 6262
Martin Ratio Rank
FDVV
FDVV Risk / Return Rank: 6464
Overall Rank
FDVV Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
FDVV Sortino Ratio Rank: 7171
Sortino Ratio Rank
FDVV Omega Ratio Rank: 7171
Omega Ratio Rank
FDVV Calmar Ratio Rank: 5050
Calmar Ratio Rank
FDVV Martin Ratio Rank: 5858
Martin Ratio Rank
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. FDVV - Risk-Adjusted Trends Comparison

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

FENYFDVVDifference
Sharpe ratioReturn per unit of total volatility
2.24
2.35

-0.11

Sortino ratioReturn per unit of downside risk
2.87
3.28

-0.41

Omega ratioGain probability vs. loss probability

1.36

1.43

-0.08

Calmar ratioReturn relative to maximum drawdown

3.87

2.53

+1.34

Martin ratioReturn relative to average drawdown

11.41

10.54

+0.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FENY vs. FDVV - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 2.24, which is comparable to the FDVV Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FENY and FDVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FENYFDVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

2.35

-0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

0.91

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

0.79

-0.60

Drawdowns

FENY vs. FDVV - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than FDVV's maximum drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FENY and FDVV.

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Drawdown Indicators

FENYFDVVDifference

Max Drawdown

Largest peak-to-trough decline

-74.35%

-40.25%

-34.10%

Max Drawdown (1Y)

Largest decline over 1 year

-11.78%

-9.30%

-2.48%

Max Drawdown (3Y)

Largest decline over 3 years

-21.47%

-15.90%

-5.57%

Max Drawdown (5Y)

Largest decline over 5 years

-26.64%

-20.18%

-6.46%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

—

—

Current Drawdown

Current decline from peak

-6.35%

-1.12%

-5.23%

Average Drawdown

Average peak-to-trough decline

-23.12%

-3.81%

-19.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.99%

2.23%

+1.76%

Volatility

FENY vs. FDVV - Volatility Comparison

Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 7.96% compared to Fidelity High Dividend ETF (FDVV) at 3.14%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FENYFDVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.96%

3.14%

+4.82%

Volatility (6M)

Calculated over the trailing 6-month period

16.33%

7.99%

+8.34%

Volatility (1Y)

Calculated over the trailing 1-year period

20.39%

10.06%

+10.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.46%

14.75%

+11.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.80%

17.00%

+12.80%

FENY vs. FDVV - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

FENY vs. FDVV - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.41%, less than FDVV's 2.72% yield.

PositionTTM20252024202320222021202020192018201720162015
FDVV
Fidelity High Dividend ETF		2.72%2.89%2.94%3.77%3.44%2.70%3.19%3.93%4.05%3.66%1.04%0.00%
FENY
Fidelity MSCI Energy Index ETF		2.41%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

FENY and FDVV have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FENY has higher volatility (7.96%) compared to FDVV (3.14%). In terms of maximum drawdown, FENY dropped -74.35% vs FDVV's -40.25%.

On 5-year performance, FENY leads with 20.48% vs 13.36% for FDVV. On fees, FENY is cheaper at 0.08% per year. On volatility, FDVV has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FENY has performed better with a 20.48% return vs 13.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FENY is cheaper with a 0.08% expense ratio, compared with 0.29% for FDVV.

FDVV has the higher dividend yield at 2.72%, compared with 2.41% for FENY.

FENY is categorized as Energy Equities, while FDVV is Large Cap Blend Equities. FENY tracks MSCI USA IMI Energy Index, while FDVV tracks Fidelity Core Dividend Index. Their fees differ too: 0.08% for FENY and 0.29% for FDVV.

FDVV currently has the higher Sharpe Ratio (2.35 vs 2.24), 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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