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FENY vs. IXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FENY vs. IXC

Last updated Jun 4, 2026

FENY (Fidelity MSCI Energy Index ETF) and IXC (iShares Global Energy ETF) are both Energy Equities funds - FENY tracks the MSCI USA IMI Energy Index while IXC tracks the S&P Global Energy Sector Index. Both are passively managed. Over the past 10 years, FENY returned 9.57%/yr vs 10.29%/yr for IXC. With a 0.97 correlation, they move nearly in lockstep. FENY charges 0.08%/yr vs 0.46%/yr for IXC.

Performance

FENY vs. IXC - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with FENY having a 32.28% return and IXC slightly lower at 32.22%. Over the past 10 years, FENY has underperformed IXC with an annualized return of 9.57%, while IXC has yielded a comparatively higher 10.29% annualized 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%

IXC

1D
0.87%
1M
-1.75%
YTD
32.22%
6M
30.00%
1Y
48.10%
3Y*
18.84%
5Y*
19.64%
10Y*
10.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FENY vs. IXC - 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%
IXC
iShares Global Energy ETF		32.22%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%5.54%

Correlation

The correlation between FENY and IXC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.97

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

0.97

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

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.97

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2013

0.97

The correlation between FENY and IXC has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

FENY vs. IXC - Sectors Allocation Comparison

Sectors
FENY
IXC

Energy

99.7%
100.0%

Basic Materials

0.2%

-

Industrials

0.1%

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

FENY
99.7%
IXC
100.0%

Basic Materials

FENY
0.2%
IXC

-

Industrials

FENY
0.1%
IXC

-

Communication Services

FENY

-

IXC

-

Consumer Cyclical

FENY

-

IXC

-

Consumer Defensive

FENY

-

IXC

-

Financial Services

FENY

-

IXC

-

Healthcare

FENY

-

IXC

-

Real Estate

FENY

-

IXC

-

Technology

FENY

-

IXC

-

Utilities

FENY

-

IXC

-

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

iShares Global Energy ETF

Often compared with FENY:
FENY vs. XLEFENY vs. VDEFENY vs. FSENXFENY vs. IYEFENY vs. FNARXFENY vs. SCHDFENY vs. IEO
Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. XDW0.DEIXC vs. DDM

Return for Risk

FENY vs. IXC — 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
IXC
IXC Risk / Return Rank: 7676
Overall Rank
IXC Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 7070
Sortino Ratio Rank
IXC Omega Ratio Rank: 6868
Omega Ratio Rank
IXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
IXC Martin Ratio Rank: 7777
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. IXC - Risk-Adjusted Trends Comparison

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

FENYIXCDifference
Sharpe ratioReturn per unit of total volatility
2.24
2.58

-0.34

Sortino ratioReturn per unit of downside risk
2.87
3.25

-0.38

Omega ratioGain probability vs. loss probability

1.36

1.42

-0.06

Calmar ratioReturn relative to maximum drawdown

3.87

5.00

-1.13

Martin ratioReturn relative to average drawdown

11.41

15.10

-3.68

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. IXC - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 2.24, which is comparable to the IXC Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FENY and IXC, 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

FENYIXCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

2.58

-0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

0.84

-0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.32

0.38

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

0.32

-0.12

Drawdowns

FENY vs. IXC - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than IXC's maximum drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for FENY and IXC.

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Drawdown Indicators

FENYIXCDifference

Max Drawdown

Largest peak-to-trough decline

-74.35%

-67.88%

-6.47%

Max Drawdown (1Y)

Largest decline over 1 year

-11.78%

-9.66%

-2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-21.47%

-19.06%

-2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-26.64%

-24.93%

-1.71%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-64.16%

-4.91%

Current Drawdown

Current decline from peak

-6.35%

-4.84%

-1.51%

Average Drawdown

Average peak-to-trough decline

-23.12%

-17.48%

-5.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.99%

3.20%

+0.79%

Volatility

FENY vs. IXC - Volatility Comparison

Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 7.96% compared to iShares Global Energy ETF (IXC) at 7.50%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FENYIXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.96%

7.50%

+0.46%

Volatility (6M)

Calculated over the trailing 6-month period

16.33%

15.42%

+0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

20.39%

18.75%

+1.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.46%

23.50%

+2.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.80%

26.85%

+2.95%

FENY vs. IXC - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than IXC's 0.46% expense ratio.

Dividends

FENY vs. IXC - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.41%, less than IXC's 2.79% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IXC
iShares Global Energy ETF		2.79%3.68%4.56%3.45%4.76%3.98%4.86%7.00%3.51%3.05%2.86%3.77%

Frequently Asked Questions

With a correlation of 0.97, FENY and IXC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

FENY has higher volatility (7.96%) compared to IXC (7.50%). In terms of maximum drawdown, FENY dropped -74.35% vs IXC's -67.88%.

On 10-year performance, IXC leads with 10.29% vs 9.57% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, IXC has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXC has performed better with a 10.29% return vs 9.57%. 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 0.46% for IXC.

IXC has the higher dividend yield at 2.79%, compared with 2.41% for FENY.

FENY tracks MSCI USA IMI Energy Index, while IXC tracks S&P Global Energy Sector Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.08% for FENY and 0.46% for IXC.

IXC currently has the higher Sharpe Ratio (2.58 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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