FENY vs. FUTY

Last updated Jun 5, 2026

FENY (Fidelity MSCI Energy Index ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 10 years, FENY returned 9.33%/yr vs 9.10%/yr for FUTY. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.08% expense ratio.

Performance

FENY vs. FUTY - Performance Comparison

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

Returns By Period

In the year-to-date period, FENY achieves a 32.52% return, which is significantly higher than FUTY's 3.78% return. Both investments have delivered pretty close results over the past 10 years, with FENY having a 9.33% annualized return and FUTY not far behind at 9.10%.

FENY

• 1D: 0.18%
• 1M: -1.83%
• YTD: 32.52%
• 6M: 29.11%
• 1Y: 48.38%
• 3Y*: 18.33%
• 5Y*: 20.52%
• 10Y*: 9.33%

FUTY

• 1D: 0.60%
• 1M: -4.86%
• YTD: 3.78%
• 6M: 1.95%
• 1Y: 12.10%
• 3Y*: 13.73%
• 5Y*: 9.26%
• 10Y*: 9.10%

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

FENY vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FENY Fidelity MSCI Energy Index ETF	32.52%	7.27%	6.62%	-0.04%	62.94%	55.62%	-33.15%	9.11%	-19.99%	-2.30%
FUTY Fidelity MSCI Utilities Index ETF	3.78%	16.40%	23.20%	-7.46%	1.12%	17.53%	-0.80%	24.89%	4.36%	12.52%

Correlation

The correlation between FENY and FUTY is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013	0.23

The correlation between FENY and FUTY shifts across timeframes, from 0.05 (1 year) to 0.25 (3 years), reflecting how their relationship changes across market environments.

FENY vs. FUTY - Sectors Allocation Comparison

Sectors	FENY	FUTY
Energy	99.7%	0.5%
Basic Materials	0.2%	-
Industrials	0.1%	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	99.2%

Return for Risk

FENY vs. FUTY — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 71
FENY Sharpe Ratio Rank: 75
FENY Sortino Ratio Rank: 67
FENY Omega Ratio Rank: 65
FENY Calmar Ratio Rank: 81
FENY Martin Ratio Rank: 67

FUTY

FUTY Risk / Return Rank: 25
FUTY Sharpe Ratio Rank: 25
FUTY Sortino Ratio Rank: 24
FUTY Omega Ratio Rank: 24
FUTY Calmar Ratio Rank: 29
FUTY Martin Ratio Rank: 24

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. FUTY - Risk-Adjusted Trends Comparison

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

	FENY	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	2.40	0.85	+1.55
Sortino ratio: Return per unit of downside risk	3.04	1.23	+1.81
Omega ratio: Gain probability vs. loss probability	1.38	1.15	+0.23
Calmar ratio: Return relative to maximum drawdown	4.13	1.36	+2.76
Martin ratio: Return relative to average drawdown	12.10	3.05	+9.06
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. FUTY - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 2.40, which is higher than the FUTY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FENY and FUTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FENY	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	0.85	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.54	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.48	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.55	-0.36

Drawdowns

FENY vs. FUTY - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for FENY and FUTY.

Drawdown Indicators

	FENY	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-36.44%	-37.91%
Max Drawdown (1Y) Largest decline over 1 year	-11.78%	-8.93%	-2.85%
Max Drawdown (3Y) Largest decline over 3 years	-21.47%	-17.35%	-4.12%
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	-25.11%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	-36.44%	-32.63%
Current Drawdown Current decline from peak	-6.18%	-6.72%	+0.54%
Average Drawdown Average peak-to-trough decline	-23.12%	-6.03%	-17.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	3.98%	+0.03%

Volatility

FENY vs. FUTY - Volatility Comparison

Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 7.96% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 5.52%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENY	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	5.52%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	11.38%	+4.88%
Volatility (1Y) Calculated over the trailing 1-year period	20.36%	14.34%	+6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.46%	17.08%	+9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.79%	19.05%	+10.74%

FENY vs. FUTY - Expense Ratio Comparison

Both FENY and FUTY have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FENY vs. FUTY - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.41%, less than FUTY's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FUTY Fidelity MSCI Utilities Index ETF	2.60%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%

Frequently Asked Questions

Can I hold both FENY and FUTY in my portfolio?

FENY and FUTY have a correlation of 0.05, 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 FUTY?

FENY has higher volatility (7.96%) compared to FUTY (5.52%). In terms of maximum drawdown, FENY dropped -74.35% vs FUTY's -36.44%.

Which ETF is better, FENY or FUTY?

On 10-year performance, FENY leads with 9.33% vs 9.10% for FUTY. Both ETFs have the same 0.08% expense ratio. On volatility, FUTY has been the lower-risk option at 5.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FENY or FUTY?

Over the 10-year period, FENY has performed better with a 9.33% return vs 9.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FENY or FUTY?

FENY and FUTY have the same expense ratio: 0.08% per year.

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

FUTY has the higher dividend yield at 2.60%, compared with 2.41% for FENY.

What is the main difference between FENY and FUTY?

FENY is categorized as Energy Equities, while FUTY is Utilities Equities. FENY tracks MSCI USA IMI Energy Index, while FUTY tracks MSCI USA IMI Utilities Index.

Which has better risk-adjusted returns?

FENY currently has the higher Sharpe Ratio (2.40 vs 0.85), 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.