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FENY vs. XES
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FENY vs. XES

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity MSCI Energy Index ETF (FENY) and SPDR S&P Oil & Gas Equipment & Services ETF (XES).

FENY and XES are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FENY is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Energy Index. It was launched on Oct 21, 2013. XES is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Equipment & Services Select Industry Index. It was launched on Jun 19, 2006. Both FENY and XES are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FENY vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). The values are adjusted to include any dividend payments, if applicable.

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FENY vs. XES - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FENY
Fidelity MSCI Energy Index ETF		33.17%7.27%6.62%-0.04%62.94%55.62%-33.15%9.11%-19.99%-2.30%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		39.21%5.89%-5.44%6.68%62.03%12.00%-43.38%-9.00%-46.99%-21.93%

Returns By Period

In the year-to-date period, FENY achieves a 33.17% return, which is significantly lower than XES's 39.21% return. Over the past 10 years, FENY has outperformed XES with an annualized return of 10.61%, while XES has yielded a comparatively lower -2.56% annualized return.

FENY

1D
-3.59%
1M
4.29%
YTD
33.17%
6M
34.14%
1Y
31.58%
3Y*
17.00%
5Y*
23.29%
10Y*
10.61%

XES

1D
-2.19%
1M
0.77%
YTD
39.21%
6M
55.34%
1Y
59.95%
3Y*
16.36%
5Y*
16.76%
10Y*
-2.56%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

SPDR S&P Oil & Gas Equipment & Services ETF

Often compared with FENY:
FENY vs. XLEFENY vs. VDEFENY vs. FSENXFENY vs. IYEFENY vs. FNARXFENY vs. SCHDFENY vs. IEO
Often compared with XES:
XES vs. OIHXES vs. XLEXES vs. IEZXES vs. PSCEXES vs. PXJXES vs. USOXES vs. XPRO

FENY vs. XES - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than XES's 0.35% expense ratio.

XES
SPDR S&P Oil & Gas Equipment & Services ETF
FENY
Fidelity MSCI Energy Index ETF

Return for Risk

FENY vs. XES — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FENY
FENY Risk / Return Rank: 6262
Overall Rank
FENY Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
FENY Sortino Ratio Rank: 6363
Sortino Ratio Rank
FENY Omega Ratio Rank: 6565
Omega Ratio Rank
FENY Calmar Ratio Rank: 6464
Calmar Ratio Rank
FENY Martin Ratio Rank: 4949
Martin Ratio Rank
XES
XES Risk / Return Rank: 7474
Overall Rank
XES Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
XES Sortino Ratio Rank: 7575
Sortino Ratio Rank
XES Omega Ratio Rank: 7474
Omega Ratio Rank
XES Calmar Ratio Rank: 7979
Calmar Ratio Rank
XES Martin Ratio Rank: 6464
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. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.

FENYXESDifference

Sharpe ratio

Return per unit of total volatility

1.25

1.50

-0.25

Sortino ratio

Return per unit of downside risk

1.65

1.97

-0.32

Omega ratio

Gain probability vs. loss probability

1.25

1.29

-0.04

Calmar ratio

Return relative to maximum drawdown

1.69

2.26

-0.57

Martin ratio

Return relative to average drawdown

4.85

6.81

-1.96

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. XES - Sharpe Ratio Comparison

The current FENY Sharpe Ratio is 1.25, which is comparable to the XES Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FENY and XES, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FENYXESDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.25

1.50

-0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.88

0.42

+0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.36

-0.06

+0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.20

-0.08

+0.29

Correlation

The correlation between FENY and XES is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FENY vs. XES - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.39%, more than XES's 1.22% yield.

TTM20252024202320222021202020192018201720162015
FENY
Fidelity MSCI Energy Index ETF		2.39%3.18%3.05%3.33%3.33%3.69%4.60%6.43%3.21%2.94%2.29%3.05%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		1.22%1.69%1.31%0.66%0.36%1.81%1.33%1.43%1.14%1.68%0.64%2.47%

Drawdowns

FENY vs. XES - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for FENY and XES.

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Drawdown Indicators

FENYXESDifference

Max Drawdown

Largest peak-to-trough decline

-74.35%

-95.65%

+21.30%

Max Drawdown (1Y)

Largest decline over 1 year

-19.11%

-27.52%

+8.41%

Max Drawdown (5Y)

Largest decline over 5 years

-26.64%

-45.95%

+19.31%

Max Drawdown (10Y)

Largest decline over 10 years

-69.07%

-91.23%

+22.16%

Current Drawdown

Current decline from peak

-5.72%

-73.12%

+67.40%

Average Drawdown

Average peak-to-trough decline

-23.34%

-54.22%

+30.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.67%

9.15%

-2.48%

Volatility

FENY vs. XES - Volatility Comparison

The current volatility for Fidelity MSCI Energy Index ETF (FENY) is 6.28%, while SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a volatility of 7.93%. This indicates that FENY experiences smaller price fluctuations and is considered to be less risky than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FENYXESDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.28%

7.93%

-1.65%

Volatility (6M)

Calculated over the trailing 6-month period

14.33%

22.22%

-7.89%

Volatility (1Y)

Calculated over the trailing 1-year period

25.29%

40.10%

-14.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.59%

39.83%

-13.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.72%

45.19%

-15.47%