FENY vs. MFSM
FENY (Fidelity MSCI Energy Index ETF) and MFSM (MFS Active Intermediate Muni Bond ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index, while MFSM is a Municipal Bonds fund actively managed by MFS. FENY is passively managed, while MFSM is actively managed. Over the past year, FENY returned 45.42% vs 7.57% for MFSM. At a correlation of -0.14, they often move in opposite directions. FENY charges 0.08%/yr vs 0.34%/yr for MFSM.
Performance
FENY vs. MFSM - Performance Comparison
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Returns By Period
In the year-to-date period, FENY achieves a 32.28% return, which is significantly higher than MFSM's 1.73% 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%
MFSM
- 1D
- -0.03%
- 1M
- 0.76%
- YTD
- 1.73%
- 6M
- 2.29%
- 1Y
- 7.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FENY vs. MFSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FENY Fidelity MSCI Energy Index ETF | 32.28% | 7.27% | -6.29% |
MFSM MFS Active Intermediate Muni Bond ETF | 1.73% | 5.25% | -1.30% |
Correlation
The correlation between FENY and MFSM is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2024 | -0.14 |
The correlation between FENY and MFSM shifts across timeframes, from -0.27 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FENY vs. MFSM — Risk / Return Rank
FENY
MFSM
FENY vs. MFSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and MFS Active Intermediate Muni Bond ETF (MFSM). 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 | MFSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.62 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 2.87 | +1.00 |
| Martin ratioReturn relative to average drawdown | 11.41 | 10.63 | +0.78 |
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 | MFSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.24 | 2.85 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 1.11 | -0.91 |
Drawdowns
FENY vs. MFSM - Drawdown Comparison
The maximum FENY drawdown since its inception was -74.35%, which is greater than MFSM's maximum drawdown of -3.86%. Use the drawdown chart below to compare losses from any high point for FENY and MFSM.
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Drawdown Indicators
| FENY | MFSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.35% | -3.86% | -70.49% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -2.65% | -9.13% |
Max Drawdown (3Y)Largest decline over 3 years | -21.47% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.07% | — | — |
Current DrawdownCurrent decline from peak | -6.35% | -0.52% | -5.83% |
Average DrawdownAverage peak-to-trough decline | -23.12% | -0.88% | -22.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 0.71% | +3.28% |
Volatility
FENY vs. MFSM - Volatility Comparison
Fidelity MSCI Energy Index ETF (FENY) has a higher volatility of 7.96% compared to MFS Active Intermediate Muni Bond ETF (MFSM) at 0.92%. This indicates that FENY's price experiences larger fluctuations and is considered to be riskier than MFSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FENY | MFSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.96% | 0.92% | +7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 16.33% | 1.96% | +14.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.39% | 2.67% | +17.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.46% | 3.44% | +23.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.80% | 3.44% | +26.36% |
FENY vs. MFSM - Expense Ratio Comparison
FENY has a 0.08% expense ratio, which is lower than MFSM's 0.34% expense ratio.
Dividends
FENY vs. MFSM - Dividend Comparison
FENY's dividend yield for the trailing twelve months is around 2.41%, less than MFSM's 3.55% 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% |
MFSM MFS Active Intermediate Muni Bond ETF | 3.55% | 3.53% | 0.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FENY and MFSM have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FENY has higher volatility (7.96%) compared to MFSM (0.92%). In terms of maximum drawdown, FENY dropped -74.35% vs MFSM's -3.86%.
On 1-year performance, FENY leads with 45.42% vs 7.57% for MFSM. On fees, FENY is cheaper at 0.08% per year. On volatility, MFSM has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FENY has performed better with a 45.42% return vs 7.57%. 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 0.34% for MFSM.
MFSM has the higher dividend yield at 3.55%, compared with 2.41% for FENY.
FENY is categorized as Energy Equities, while MFSM is Municipal Bonds. They also come from different issuers: Fidelity and MFS. Their fees differ too: 0.08% for FENY and 0.34% for MFSM.
MFSM currently has the higher Sharpe Ratio (2.85 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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