FIDU vs. FENI

Last updated Aug 2, 2026

FIDU (Fidelity MSCI Industrials Index ETF) and FENI (Fidelity Enhanced International ETF) are both exchange-traded funds - FIDU is a Industrials Equities fund tracking the MSCI USA IMI Industrials Index, while FENI is a Foreign Large Cap Equities fund actively managed by Fidelity. FIDU is passively managed, while FENI is actively managed. Over the past year, FIDU returned 21.56% vs 28.22% for FENI. Their 0.66 correlation means they have sometimes moved together and sometimes differently. FIDU charges 0.08%/yr vs 0.28%/yr for FENI.

Performance

FIDU vs. FENI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Industrials Index ETF (FIDU) and Fidelity Enhanced International ETF (FENI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIDU achieves a 16.05% return, which is significantly higher than FENI's 13.01% return.

FIDU

• 1D: 0.83%
• 1M: -3.08%
• 6M: 7.73%
• YTD: 16.05%
• 1Y: 21.56%
• 3Y*: 18.89%
• 5Y*: 13.30%
• 10Y*: 14.03%
• ALL TIME*: 12.64%

FENI

• 1D: -0.37%
• 1M: 0.87%
• 6M: 6.54%
• YTD: 13.01%
• 1Y: 28.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.20%

*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)
FENI Fidelity Enhanced International ETF	$50.54M	$59.20M	$59.68M
FIDU Fidelity MSCI Industrials Index ETF	$8.05M	$8.74M	$9.96M

FIDU vs. FENI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FIDU Fidelity MSCI Industrials Index ETF	16.05%	18.61%	16.51%	9.25%
FENI Fidelity Enhanced International ETF	13.01%	37.27%	6.95%	5.75%

Correlation

The correlation between FIDU and FENI is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.66

The correlation between FIDU and FENI has been stable across timeframes, ranging from 0.66 to 0.69 - a consistent structural relationship.

FIDU vs. FENI - Sectors Allocation Comparison

Sectors	FIDU	FENI
Industrials	86.2%	21.7%
Technology	5.8%	12.6%
Utilities	3.8%	3.8%
Basic Materials	1.6%	4.9%
Consumer Cyclical	0.5%	5.4%
Financial Services	0.2%	26.1%
Real Estate	0.0%	1.4%
Consumer Defensive	0.0%	6.2%
Healthcare	0.0%	8.7%
Communication Services	0.0%	3.4%
Energy	0.0%	3.9%

Return for Risk

FIDU vs. FENI — Risk / Return Rank

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

FIDU

FIDU Risk / Return Rank: 46
FIDU Sharpe Ratio Rank: 44
FIDU Sortino Ratio Rank: 44
FIDU Omega Ratio Rank: 41
FIDU Calmar Ratio Rank: 45
FIDU Martin Ratio Rank: 55

FENI

FENI Risk / Return Rank: 75
FENI Sharpe Ratio Rank: 76
FENI Sortino Ratio Rank: 76
FENI Omega Ratio Rank: 75
FENI Calmar Ratio Rank: 71
FENI Martin Ratio Rank: 75

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.

FIDU vs. FENI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Industrials Index ETF (FIDU) and Fidelity Enhanced International ETF (FENI). 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.

	FIDU	FENI	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.72	-0.63
Sortino ratio: Return per unit of downside risk	1.60	2.44	-0.84
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.61	2.45	-0.83
Martin ratio: Return relative to average drawdown	6.39	9.31	-2.93

FIDU vs. FENI - Sharpe Ratio Comparison

The current FIDU Sharpe Ratio is 1.09, which is lower than the FENI Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of FIDU and FENI, 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

FIDU vs. FENI - Drawdown Comparison

The maximum FIDU drawdown since its inception was -42.31%, which is greater than FENI's maximum drawdown of -14.20%. Use the drawdown chart below to compare losses from any high point for FIDU and FENI.

Drawdown Indicators

	FIDU	FENI	Difference
Max Drawdown Largest peak-to-trough decline	-42.31%	-14.20%	-28.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	-11.49%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-20.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.31%	—	—
Current Drawdown Current decline from peak	-4.41%	-0.37%	-4.04%
Average Drawdown Average peak-to-trough decline	-4.77%	-2.24%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	3.01%	+0.08%

Volatility

FIDU vs. FENI - Volatility Comparison

Fidelity MSCI Industrials Index ETF (FIDU) and Fidelity Enhanced International ETF (FENI) have volatilities of 5.09% and 4.89%, 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

	FIDU	FENI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.09%	4.89%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.73%	14.28%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	18.03%	16.35%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	15.79%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.37%	15.79%	+4.58%

FIDU vs. FENI - Expense Ratio Comparison

FIDU has a 0.08% expense ratio, which is lower than FENI's 0.28% expense ratio.

Dividends

FIDU vs. FENI - Dividend Comparison

FIDU's dividend yield for the trailing twelve months is around 0.95%, less than FENI's 2.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENI Fidelity Enhanced International ETF	2.89%	2.99%	3.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FIDU Fidelity MSCI Industrials Index ETF	0.95%	1.02%	1.42%	1.42%	1.48%	1.12%	1.28%	1.73%	1.99%	1.60%	1.63%	1.98%

Frequently Asked Questions

Can I hold both FIDU and FENI in my portfolio?

FIDU and FENI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIDU or FENI?

FIDU has higher volatility (5.09%) compared to FENI (4.89%). In terms of maximum drawdown, FIDU dropped -42.31% vs FENI's -14.20%.

Which ETF is better, FIDU or FENI?

On 1-year performance, FENI leads with 28.22% vs 21.56% for FIDU. On fees, FIDU is cheaper at 0.08% per year. On volatility, FENI has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIDU or FENI?

Over the 1-year period, FENI has performed better with a 28.22% return vs 21.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIDU or FENI?

FIDU is cheaper with a 0.08% expense ratio, compared with 0.28% for FENI.

Which ETF pays a higher dividend yield, FIDU or FENI?

FENI has the higher dividend yield at 2.89%, compared with 0.95% for FIDU.

What is the main difference between FIDU and FENI?

FIDU is categorized as Industrials Equities, while FENI is Foreign Large Cap Equities. Their fees differ too: 0.08% for FIDU and 0.28% for FENI.

Which has better risk-adjusted returns?

FENI currently has the higher Sharpe Ratio (1.72 vs 1.09), 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.