FENY vs. PBOG

Last updated Jun 4, 2026

FENY (Fidelity MSCI Energy Index ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. Both are passively managed. Their correlation of 0.94 suggests significant overlap in exposure. FENY charges 0.08%/yr vs 0.13%/yr for PBOG.

Performance

FENY vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FENY having a 32.28% return and PBOG slightly lower at 32.22%.

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%

PBOG

• 1D: 1.23%
• 1M: -2.32%
• YTD: 32.22%
• 6M: 29.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FENY vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
FENY Fidelity MSCI Energy Index ETF	32.28%	1.54%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	32.22%	1.62%

Correlation

The correlation between FENY and PBOG is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.94

Return for Risk

FENY vs. PBOG — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 64
FENY Sharpe Ratio Rank: 66
FENY Sortino Ratio Rank: 60
FENY Omega Ratio Rank: 57
FENY Calmar Ratio Rank: 75
FENY Martin Ratio Rank: 62

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. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	2.24	—	—
Sortino ratio: Return per unit of downside risk	2.87	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	3.87	—	—
Martin ratio: Return relative to average drawdown	11.41	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FENY	PBOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	—	—
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	3.31	-3.11

Drawdowns

FENY vs. PBOG - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for FENY and PBOG.

Drawdown Indicators

	FENY	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-11.45%	-62.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.78%	—	—
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 Drawdown Current decline from peak	-6.35%	-6.81%	+0.46%
Average Drawdown Average peak-to-trough decline	-23.12%	-3.10%	-20.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	—	—

Volatility

Volatility by Period

	FENY	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	23.67%	-3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.46%	23.67%	+2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.80%	23.67%	+6.13%

FENY vs. PBOG - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than PBOG's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FENY vs. PBOG - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.41%, more than PBOG's 0.13% 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%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FENY and PBOG in my portfolio?

With a correlation of 0.94, FENY and PBOG 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.

Which ETF is better, FENY or PBOG?

On fees, FENY is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FENY or PBOG?

FENY is cheaper with a 0.08% expense ratio, compared with 0.13% for PBOG.

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

FENY has the higher dividend yield at 2.41%, compared with 0.13% for PBOG.

What is the main difference between FENY and PBOG?

FENY is categorized as Energy Equities, while PBOG is Oil & Gas. FENY tracks MSCI USA IMI Energy Index, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: Fidelity and Portfolio Building Blocks. Their fees differ too: 0.08% for FENY and 0.13% for PBOG.