FENY vs. HYMB
FENY (Fidelity MSCI Energy Index ETF) and HYMB (State Street SPDR Nuveen ICE High Yield Municipal Bond ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy 25/50 Index, while HYMB is a Municipal Bonds fund tracking the ICE US Select High Yield Crossover Municipal Index. Both are passively managed. Over the past 10 years, FENY returned 9.47%/yr vs 2.21%/yr for HYMB. Their -0.09 correlation means they have often moved in opposite directions in the past. FENY charges 0.08%/yr vs 0.35%/yr for HYMB.
Performance
FENY vs. HYMB - Performance Comparison
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Returns By Period
In the year-to-date period, FENY achieves a 32.87% return, which is significantly higher than HYMB's 2.38% return. Over the past 10 years, FENY has outperformed HYMB with an annualized return of 9.47%, while HYMB has yielded a comparatively lower 2.21% annualized return.
FENY
- 1D
- -0.40%
- 1M
- 9.72%
- 6M
- 15.12%
- YTD
- 32.87%
- 1Y
- 41.70%
- 3Y*
- 14.17%
- 5Y*
- 23.48%
- 10Y*
- 9.47%
- ALL TIME*
- 5.49%
HYMB
- 1D
- 0.28%
- 1M
- -1.63%
- 6M
- 1.38%
- YTD
- 2.38%
- 1Y
- 6.87%
- 3Y*
- 4.65%
- 5Y*
- 0.04%
- 10Y*
- 2.21%
- ALL TIME*
- 4.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $48.28M | $43.61M | $52.27M | |
| $57.72M | $40.67M | $29.61M |
FENY vs. HYMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 32.87% | 7.27% | 6.62% | -0.04% | 62.94% | 55.62% | -33.15% | 9.11% | -19.99% | -2.30% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 2.38% | 2.04% | 5.52% | 7.73% | -15.54% | 5.16% | 3.74% | 9.51% | 4.91% | 3.22% |
Correlation
The correlation between FENY and HYMB is -0.30, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | -0.09 |
Over the past year, the inverse relationship between FENY and HYMB has strengthened: their correlation has moved from -0.09 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FENY vs. HYMB — Risk / Return Rank
FENY
HYMB
FENY vs. HYMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB). 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 | HYMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.22 | +0.58 |
| Martin ratioReturn relative to average drawdown | 7.52 | 8.97 | -1.45 |
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Drawdowns
FENY vs. HYMB - Drawdown Comparison
The maximum FENY drawdown since its inception was -74.35%, which is greater than HYMB's maximum drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for FENY and HYMB.
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Drawdown Indicators
| FENY | HYMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.35% | -29.57% | -44.78% |
Max Drawdown (1Y)Largest decline over 1 year | -14.96% | -3.11% | -11.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.47% | -6.66% | -14.81% |
Max Drawdown (5Y)Largest decline over 5 years | -26.64% | -19.97% | -6.67% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -29.57% | -39.50% |
Current DrawdownCurrent decline from peak | -5.93% | -1.63% | -4.30% |
Average DrawdownAverage peak-to-trough decline | -22.94% | -3.77% | -19.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.56% | 0.77% | +4.79% |
Volatility
FENY vs. HYMB - Volatility Comparison
Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 6.24% compared to State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB) at 1.18%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than HYMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FENY | HYMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.24% | 1.18% | +5.06% |
Volatility (6M)Calculated over the trailing 6-month period | 16.54% | 3.26% | +13.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 4.00% | +16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.17% | 6.69% | +19.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.78% | 11.37% | +18.41% |
FENY vs. HYMB - Expense Ratio Comparison
FENY has a 0.08% expense ratio, which is lower than HYMB's 0.35% expense ratio.
Dividends
FENY vs. HYMB - Dividend Comparison
FENY's dividend yield for the trailing twelve months is around 2.39%, less than HYMB's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 2.39% | 3.18% | 3.05% | 3.33% | 3.33% | 3.69% | 4.60% | 6.43% | 3.21% | 2.94% | 2.29% | 3.05% |
HYMB State Street SPDR Nuveen ICE High Yield Municipal Bond ETF | 4.60% | 4.55% | 4.29% | 4.07% | 3.77% | 3.19% | 3.55% | 3.95% | 4.03% | 3.78% | 4.08% | 4.54% |
Frequently Asked Questions
FENY and HYMB have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FENY has higher volatility (6.24%) compared to HYMB (1.18%). In terms of maximum drawdown, FENY dropped -74.35% vs HYMB's -29.57%.
On 10-year performance, FENY leads with 9.47% vs 2.21% for HYMB. On fees, FENY is cheaper at 0.08% per year. On volatility, HYMB has been the lower-risk option at 1.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FENY has performed better with a 9.47% return vs 2.21%. 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 0.35% for HYMB.
HYMB has the higher dividend yield at 4.60%, compared with 2.39% for FENY.
FENY is categorized as Energy Equities, while HYMB is Municipal Bonds. FENY tracks MSCI USA IMI Energy 25/50 Index, while HYMB tracks ICE US Select High Yield Crossover Municipal Index. They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.08% for FENY and 0.35% for HYMB.
FENY currently has the higher Sharpe Ratio (2.01 vs 1.73), 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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