FENY vs. IYZ
FENY (Fidelity MSCI Energy Index ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy 25/50 Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, FENY returned 9.32%/yr vs 5.76%/yr for IYZ. At a 0.43 correlation, their price movements are largely independent. FENY charges 0.08%/yr vs 0.42%/yr for IYZ.
Performance
FENY vs. IYZ - Performance Comparison
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Returns By Period
In the year-to-date period, FENY achieves a 31.30% return, which is significantly higher than IYZ's 26.58% return. Over the past 10 years, FENY has outperformed IYZ with an annualized return of 9.32%, while IYZ has yielded a comparatively lower 5.76% annualized return.
FENY
- 1D
- 1.22%
- 1M
- 3.82%
- YTD
- 31.30%
- 6M
- 29.90%
- 1Y
- 44.41%
- 3Y*
- 16.98%
- 5Y*
- 20.27%
- 10Y*
- 9.32%
IYZ
- 1D
- 0.40%
- 1M
- 3.16%
- YTD
- 26.58%
- 6M
- 29.19%
- 1Y
- 51.92%
- 3Y*
- 28.42%
- 5Y*
- 7.24%
- 10Y*
- 5.76%
FENY vs. IYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 31.30% | 7.27% | 6.62% | -0.04% | 62.94% | 55.62% | -33.15% | 9.11% | -19.99% | -2.30% |
IYZ iShares U.S. Telecommunications ETF | 26.58% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
Correlation
The correlation between FENY and IYZ is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2013 | 0.43 |
Over the past year, the correlation between FENY and IYZ has dropped to 0.09 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
FENY vs. IYZ — Risk / Return Rank
FENY
IYZ
FENY vs. IYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and iShares U.S. Telecommunications ETF (IYZ). 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 | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.50 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.79 | 7.11 | -3.33 |
| Martin ratioReturn relative to average drawdown | 10.95 | 26.20 | -15.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FENY | IYZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.84 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.39 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.30 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.07 | +0.13 |
Drawdowns
FENY vs. IYZ - Drawdown Comparison
The maximum FENY drawdown since its inception was -74.35%, roughly equal to the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for FENY and IYZ.
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Drawdown Indicators
| FENY | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.35% | -77.11% | +2.76% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -7.33% | -4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -21.47% | -13.85% | -7.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.64% | -39.74% | +13.10% |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | -39.74% | -29.33% |
Current DrawdownCurrent decline from peak | -7.04% | -6.96% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -23.11% | -40.13% | +17.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 1.99% | +2.08% |
Volatility
FENY vs. IYZ - Volatility Comparison
The current volatility for Fidelity MSCI Energy Index ETF (FENY) is 6.96%, while iShares U.S. Telecommunications ETF (IYZ) has a volatility of 8.23%. This indicates that FENY experiences smaller price fluctuations and is considered to be less risky than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FENY | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.96% | 8.23% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 15.34% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.38% | 18.43% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.48% | 18.84% | +7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.80% | 19.29% | +10.51% |
FENY vs. IYZ - Expense Ratio Comparison
FENY has a 0.08% expense ratio, which is lower than IYZ's 0.42% expense ratio.
Dividends
FENY vs. IYZ - Dividend Comparison
FENY's dividend yield for the trailing twelve months is around 2.43%, more than IYZ's 1.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 2.43% | 3.18% | 3.05% | 3.33% | 3.33% | 3.69% | 4.60% | 6.43% | 3.21% | 2.94% | 2.29% | 3.05% |
IYZ iShares U.S. Telecommunications ETF | 1.57% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
FENY and IYZ have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYZ has higher volatility (8.23%) compared to FENY (6.96%). In terms of maximum drawdown, FENY dropped -74.35% vs IYZ's -77.11%.
On 10-year performance, FENY leads with 9.32% vs 5.76% for IYZ. On fees, FENY is cheaper at 0.08% per year. On volatility, FENY has been the lower-risk option at 6.96%. 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 9.32% return vs 5.76%. 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 0.42% for IYZ.
FENY has the higher dividend yield at 2.43%, compared with 1.57% for IYZ.
FENY is categorized as Energy Equities, while IYZ is Communications Equities. FENY tracks MSCI USA IMI Energy 25/50 Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.08% for FENY and 0.42% for IYZ.
IYZ currently has the higher Sharpe Ratio (2.84 vs 2.19), 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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