FFEM vs. FSENX

Last updated Jun 4, 2026

FFEM (Fidelity Fundamental Emerging Markets ETF) and FSENX (Fidelity Select Energy Portfolio) are both funds - FFEM is a Emerging Markets Diversified fund managed by Fidelity, while FSENX is a Energy Equities fund managed by Fidelity. Over the past year, FFEM returned 68.49% vs 51.42% for FSENX. At a 0.15 correlation, their price movements are largely independent. FFEM charges 0.60%/yr vs 0.77%/yr for FSENX.

Performance

FFEM vs. FSENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Emerging Markets ETF (FFEM) and Fidelity Select Energy Portfolio (FSENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFEM achieves a 33.06% return, which is significantly lower than FSENX's 35.02% return.

FFEM

• 1D: -1.56%
• 1M: 9.73%
• YTD: 33.06%
• 6M: 36.71%
• 1Y: 68.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSENX

• 1D: 1.38%
• 1M: -2.65%
• YTD: 35.02%
• 6M: 31.99%
• 1Y: 51.42%
• 3Y*: 19.21%
• 5Y*: 22.08%
• 10Y*: 9.68%

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

FFEM vs. FSENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFEM Fidelity Fundamental Emerging Markets ETF	33.06%	40.03%	-2.27%
FSENX Fidelity Select Energy Portfolio	35.02%	10.56%	-8.93%

Correlation

The correlation between FFEM and FSENX is 0.00, 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	0.00
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.15

The correlation between FFEM and FSENX shifts across timeframes, from 0.00 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FFEM vs. FSENX — Risk / Return Rank

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

FFEM

FFEM Risk / Return Rank: 89
FFEM Sharpe Ratio Rank: 91
FFEM Sortino Ratio Rank: 88
FFEM Omega Ratio Rank: 89
FFEM Calmar Ratio Rank: 88
FFEM Martin Ratio Rank: 89

FSENX

FSENX Risk / Return Rank: 79
FSENX Sharpe Ratio Rank: 85
FSENX Sortino Ratio Rank: 70
FSENX Omega Ratio Rank: 61
FSENX Calmar Ratio Rank: 94
FSENX Martin Ratio Rank: 84

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.

FFEM vs. FSENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Emerging Markets ETF (FFEM) and Fidelity Select Energy Portfolio (FSENX). 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.

	FFEM	FSENX	Difference
Sharpe ratio Return per unit of total volatility	3.19	2.74	+0.45
Sortino ratio Return per unit of downside risk	4.00	3.47	+0.52
Omega ratio Gain probability vs. loss probability	1.56	1.43	+0.13
Calmar ratio Return relative to maximum drawdown	5.07	5.42	-0.35
Martin ratio Return relative to average drawdown	20.18	15.96	+4.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFEM vs. FSENX - Sharpe Ratio Comparison

The current FFEM Sharpe Ratio is 3.19, which is comparable to the FSENX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FFEM and FSENX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FFEM	FSENX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	2.74	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.81	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	0.32	+1.89

Drawdowns

FFEM vs. FSENX - Drawdown Comparison

The maximum FFEM drawdown since its inception was -16.29%, smaller than the maximum FSENX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for FFEM and FSENX.

Drawdown Indicators

	FFEM	FSENX	Difference
Max Drawdown Largest peak-to-trough decline	-16.29%	-76.24%	+59.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.57%	-9.95%	-3.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-72.11%	—
Current Drawdown Current decline from peak	-1.56%	-5.09%	+3.53%
Average Drawdown Average peak-to-trough decline	-2.41%	-17.01%	+14.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	3.37%	+0.04%

Volatility

FFEM vs. FSENX - Volatility Comparison

Fidelity Fundamental Emerging Markets ETF (FFEM) has a higher volatility of 9.03% compared to Fidelity Select Energy Portfolio (FSENX) at 7.60%. This indicates that FFEM's price experiences larger fluctuations and is considered to be riskier than FSENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEM	FSENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	7.60%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	15.35%	+3.42%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	19.70%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	27.26%	-5.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	30.96%	-8.94%

FFEM vs. FSENX - Expense Ratio Comparison

FFEM has a 0.60% expense ratio, which is lower than FSENX's 0.77% expense ratio.

Dividends

FFEM vs. FSENX - Dividend Comparison

FFEM's dividend yield for the trailing twelve months is around 1.22%, less than FSENX's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFEM Fidelity Fundamental Emerging Markets ETF	1.22%	1.59%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSENX Fidelity Select Energy Portfolio	1.59%	1.95%	1.95%	1.98%	2.50%	2.25%	3.43%	1.84%	1.48%	1.74%	0.62%	1.29%

Frequently Asked Questions

Can I hold both FFEM and FSENX in my portfolio?

FFEM and FSENX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFEM or FSENX?

FFEM has higher volatility (9.03%) compared to FSENX (7.60%). In terms of maximum drawdown, FFEM dropped -16.29% vs FSENX's -76.24%.

Which has better risk-adjusted returns?

FFEM currently has the higher Sharpe Ratio (3.19 vs 2.74), 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.