FENY vs. FNARX
FENY (Fidelity MSCI Energy Index ETF) and FNARX (Fidelity Natural Resources Fund) are both Energy Equities funds from Fidelity. FENY is passively managed, while FNARX is actively managed. Over the past 10 years, FENY returned 9.96%/yr vs 11.17%/yr for FNARX. Their correlation of 0.93 means they have usually moved in the same direction. FENY charges 0.08%/yr vs 0.69%/yr for FNARX.
Performance
FENY vs. FNARX - Performance Comparison
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Returns By Period
In the year-to-date period, FENY achieves a 35.12% return, which is significantly higher than FNARX's 24.42% return. Over the past 10 years, FENY has underperformed FNARX with an annualized return of 9.96%, while FNARX has yielded a comparatively higher 11.17% annualized return.
FENY
- 1D
- 1.04%
- 1M
- 11.58%
- 6M
- 18.35%
- YTD
- 35.12%
- 1Y
- 43.91%
- 3Y*
- 14.81%
- 5Y*
- 23.67%
- 10Y*
- 9.96%
- ALL TIME*
- 5.63%
FNARX
- 1D
- 1.40%
- 1M
- 8.41%
- 6M
- 11.26%
- YTD
- 24.42%
- 1Y
- 42.38%
- 3Y*
- 17.31%
- 5Y*
- 22.57%
- 10Y*
- 11.17%
- ALL TIME*
- 8.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $45.95M | $44.20M | $53.46M | |
| $0.00 | $0.00 | $0.00 |
FENY vs. FNARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 35.12% | 7.27% | 6.62% | -0.04% | 62.94% | 55.62% | -33.15% | 9.11% | -19.99% | -2.30% |
FNARX Fidelity Natural Resources Fund | 24.42% | 28.67% | 3.76% | 6.41% | 41.01% | 39.34% | -20.86% | 19.09% | -24.28% | -0.11% |
Correlation
The correlation between FENY and FNARX is 0.82, 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. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.93 |
The correlation between FENY and FNARX shifts across timeframes, from 0.82 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FENY vs. FNARX — Risk / Return Rank
FENY
FNARX
FENY vs. FNARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and Fidelity Natural Resources Fund (FNARX). 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 | FNARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.36 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 3.02 | -0.26 |
| Martin ratioReturn relative to average drawdown | 7.45 | 9.64 | -2.19 |
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Drawdowns
FENY vs. FNARX - Drawdown Comparison
The maximum FENY drawdown since its inception was -74.35%, roughly equal to the maximum FNARX drawdown of -71.04%. Use the drawdown chart below to compare losses from any high point for FENY and FNARX.
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Drawdown Indicators
| FENY | FNARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.35% | -71.04% | -3.31% |
Max Drawdown (1Y)Largest decline over 1 year | -14.96% | -13.19% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -21.47% | -20.64% | -0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -26.64% | -29.93% | +3.29% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -64.10% | -4.97% |
Current DrawdownCurrent decline from peak | -4.34% | -4.57% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -22.95% | -19.99% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 4.13% | +1.43% |
Volatility
FENY vs. FNARX - Volatility Comparison
Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 5.96% compared to Fidelity Natural Resources Fund (FNARX) at 4.51%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than FNARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FENY | FNARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.96% | 4.51% | +1.45% |
Volatility (6M)Calculated over the trailing 6-month period | 16.62% | 14.60% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.94% | 18.23% | +2.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.20% | 24.80% | +1.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.78% | 26.79% | +2.99% |
FENY vs. FNARX - Expense Ratio Comparison
FENY has a 0.08% expense ratio, which is lower than FNARX's 0.69% expense ratio.
Dividends
FENY vs. FNARX - Dividend Comparison
FENY's dividend yield for the trailing twelve months is around 2.35%, more than FNARX's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 2.35% | 3.18% | 3.05% | 3.33% | 3.33% | 3.69% | 4.60% | 6.43% | 3.21% | 2.94% | 2.29% | 3.05% |
FNARX Fidelity Natural Resources Fund | 1.76% | 1.89% | 1.51% | 1.60% | 2.42% | 1.46% | 1.79% | 1.42% | 1.17% | 1.38% | 0.62% | 0.78% |
Frequently Asked Questions
FENY and FNARX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FENY has higher volatility (5.96%) compared to FNARX (4.51%). In terms of maximum drawdown, FENY dropped -74.35% vs FNARX's -71.04%.
FNARX currently has the higher Sharpe Ratio (2.20 vs 1.97), 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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