FENY vs. VDE

Last updated Aug 2, 2026

FENY (Fidelity MSCI Energy Index ETF) and VDE (Vanguard Energy ETF) are both Energy Equities funds - FENY tracks the MSCI USA IMI Energy 25/50 Index while VDE tracks the MSCI US Investable Market Energy 25/50 Index. Both are passively managed. Over the past 10 years, FENY returned 9.96%/yr vs 10.12%/yr for VDE. Their 1.00 correlation means they have historically moved very closely together. FENY charges 0.08%/yr vs 0.09%/yr for VDE.

Performance

FENY vs. VDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and Vanguard Energy ETF (VDE). 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 35.12% return and VDE slightly lower at 35.06%. Both investments have delivered pretty close results over the past 10 years, with FENY having a 9.96% annualized return and VDE not far ahead at 10.12%.

FENY

• 1D: 1.04%
• 1M: 11.58%
• 6M: 18.35%
• YTD: 35.12%
• 1Y: 43.91%
• 3Y*: 14.81%
• 5Y*: 23.67%
• 10Y*: 9.96%
• ALL TIME*: 5.63%

VDE

• 1D: 1.02%
• 1M: 11.65%
• 6M: 18.28%
• YTD: 35.06%
• 1Y: 43.90%
• 3Y*: 14.78%
• 5Y*: 23.63%
• 10Y*: 10.12%
• ALL TIME*: 8.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FENY Fidelity MSCI Energy Index ETF	$45.95M	$44.20M	$53.46M
VDE Vanguard Energy ETF	$73.73M	$73.82M	$109.36M

FENY vs. VDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FENY Fidelity MSCI Energy Index ETF	35.12%	7.27%	6.62%	-0.04%	62.94%	55.62%	-33.15%	9.11%	-19.99%	-2.30%
VDE Vanguard Energy ETF	35.06%	7.11%	6.75%	0.03%	62.89%	56.31%	-33.02%	9.28%	-19.95%	-2.50%

Correlation

The correlation between FENY and VDE is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	1.00
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	1.00

The correlation between FENY and VDE has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

FENY vs. VDE - Sectors Allocation Comparison

Sectors	FENY	VDE
Energy	99.6%	76.9%
Basic Materials	0.3%	0.4%
Industrials	0.1%	0.3%
Utilities	0.1%	0.1%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

FENY vs. VDE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FENY

FENY Risk / Return Rank: 76
FENY Sharpe Ratio Rank: 85
FENY Sortino Ratio Rank: 79
FENY Omega Ratio Rank: 77
FENY Calmar Ratio Rank: 78
FENY Martin Ratio Rank: 62

VDE

VDE Risk / Return Rank: 76
VDE Sharpe Ratio Rank: 85
VDE Sortino Ratio Rank: 79
VDE Omega Ratio Rank: 77
VDE Calmar Ratio Rank: 78
VDE Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FENY vs. VDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and Vanguard Energy ETF (VDE). 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	VDE	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.98	0.00
Sortino ratio: Return per unit of downside risk	2.55	2.55	0.00
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.76	2.75	+0.01
Martin ratio: Return relative to average drawdown	7.45	7.42	+0.03

FENY vs. VDE - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 1.97, which is comparable to the VDE Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of FENY and VDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FENY vs. VDE - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, roughly equal to the maximum VDE drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for FENY and VDE.

Drawdown Indicators

	FENY	VDE	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-74.20%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.96%	-15.04%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-21.47%	-21.41%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	-26.58%	-0.06%
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	-69.29%	+0.22%
Current Drawdown Current decline from peak	-4.34%	-4.44%	+0.10%
Average Drawdown Average peak-to-trough decline	-22.95%	-19.89%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.56%	5.59%	-0.03%

Volatility

FENY vs. VDE - Volatility Comparison

Fidelity MSCI Energy Index ETF (FENY) and Vanguard Energy ETF (VDE) have volatilities of 5.96% and 5.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FENY	VDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	5.99%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.62%	16.66%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	20.95%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.20%	26.14%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.78%	29.90%	-0.12%

FENY vs. VDE - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than VDE's 0.09% 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. VDE - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.35%, less than VDE's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.35%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
VDE Vanguard Energy ETF	2.40%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both FENY and VDE in my portfolio?

With a correlation of 1.00, FENY and VDE 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 is riskier, FENY or VDE?

VDE has higher volatility (5.99%) compared to FENY (5.96%). In terms of maximum drawdown, FENY dropped -74.35% vs VDE's -74.20%.

Which ETF is better, FENY or VDE?

On 10-year performance, VDE leads with 10.12% vs 9.96% for FENY. On fees, FENY is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FENY or VDE?

Over the 10-year period, VDE has performed better with a 10.12% return vs 9.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FENY or VDE?

FENY is cheaper with a 0.08% expense ratio, compared with 0.09% for VDE.

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

VDE has the higher dividend yield at 2.40%, compared with 2.35% for FENY.

What is the main difference between FENY and VDE?

FENY tracks MSCI USA IMI Energy 25/50 Index, while VDE tracks MSCI US Investable Market Energy 25/50 Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.08% for FENY and 0.09% for VDE.

Which has better risk-adjusted returns?

VDE currently has the higher Sharpe Ratio (1.98 vs 1.97), 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.