FNARX vs. FRNRX
FNARX (Fidelity Natural Resources Fund) and FRNRX (Franklin Natural Resources Fund) are both Energy Equities funds. Over the past 10 years, FNARX returned 10.35%/yr vs 10.68%/yr for FRNRX. With a 0.96 correlation, they move nearly in lockstep. FNARX charges 0.82%/yr vs 0.96%/yr for FRNRX.
Performance
FNARX vs. FRNRX - Performance Comparison
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Returns By Period
In the year-to-date period, FNARX achieves a 17.21% return, which is significantly lower than FRNRX's 18.70% return. Both investments have delivered pretty close results over the past 10 years, with FNARX having a 10.35% annualized return and FRNRX not far ahead at 10.68%.
FNARX
- 1D
- 0.66%
- 1M
- -7.16%
- YTD
- 17.21%
- 6M
- 16.58%
- 1Y
- 33.20%
- 3Y*
- 20.20%
- 5Y*
- 19.41%
- 10Y*
- 10.35%
FRNRX
- 1D
- 0.60%
- 1M
- -4.56%
- YTD
- 18.70%
- 6M
- 17.79%
- 1Y
- 44.28%
- 3Y*
- 19.72%
- 5Y*
- 23.09%
- 10Y*
- 10.68%
FNARX vs. FRNRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNARX Fidelity Natural Resources Fund | 17.21% | 28.67% | 3.76% | 6.41% | 41.01% | 39.34% | -20.86% | 19.09% | -24.28% | -0.11% |
FRNRX Franklin Natural Resources Fund | 18.70% | 30.43% | 1.28% | 3.25% | 30.52% | 74.38% | -21.58% | 10.03% | -23.78% | 0.32% |
Correlation
The correlation between FNARX and FRNRX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 1997 | 0.96 |
The correlation between FNARX and FRNRX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.
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Return for Risk
FNARX vs. FRNRX — Risk / Return Rank
FNARX
FRNRX
FNARX vs. FRNRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Natural Resources Fund (FNARX) and Franklin Natural Resources Fund (FRNRX). 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.
| FNARX | FRNRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.43 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 6.65 | -3.72 |
| Martin ratioReturn relative to average drawdown | 11.58 | 21.07 | -9.49 |
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Drawdowns
FNARX vs. FRNRX - Drawdown Comparison
The maximum FNARX drawdown since its inception was -71.04%, smaller than the maximum FRNRX drawdown of -80.54%. Use the drawdown chart below to compare losses from any high point for FNARX and FRNRX.
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Drawdown Indicators
| FNARX | FRNRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.04% | -80.54% | +9.50% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -6.53% | -4.15% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -19.65% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -29.93% | -26.29% | -3.64% |
Max Drawdown (10Y)Largest decline over 10 years | -64.10% | -70.71% | +6.61% |
Current DrawdownCurrent decline from peak | -10.09% | -5.82% | -4.27% |
Average DrawdownAverage peak-to-trough decline | -20.03% | -23.79% | +3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 2.06% | +0.65% |
Volatility
FNARX vs. FRNRX - Volatility Comparison
Fidelity Natural Resources Fund (FNARX) has a higher volatility of 6.03% compared to Franklin Natural Resources Fund (FRNRX) at 5.71%. This indicates that FNARX's price experiences larger fluctuations and is considered to be riskier than FRNRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNARX | FRNRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 5.71% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 13.43% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.96% | 17.09% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.97% | 25.55% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.93% | 28.56% | -1.63% |
FNARX vs. FRNRX - Expense Ratio Comparison
FNARX has a 0.82% expense ratio, which is lower than FRNRX's 0.96% expense ratio.
Dividends
FNARX vs. FRNRX - Dividend Comparison
FNARX's dividend yield for the trailing twelve months is around 1.87%, more than FRNRX's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNARX Fidelity Natural Resources Fund | 1.87% | 1.89% | 1.51% | 1.60% | 2.42% | 1.46% | 1.79% | 1.42% | 1.17% | 1.38% | 0.62% | 0.78% |
FRNRX Franklin Natural Resources Fund | 1.43% | 1.70% | 2.40% | 1.98% | 2.38% | 22.66% | 2.39% | 1.64% | 2.43% | 1.16% | 1.02% | 0.86% |
Frequently Asked Questions
With a correlation of 0.90, FNARX and FRNRX 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.
FNARX has higher volatility (6.03%) compared to FRNRX (5.71%). In terms of maximum drawdown, FNARX dropped -71.04% vs FRNRX's -80.54%.
FRNRX currently has the higher Sharpe Ratio (2.55 vs 1.75), 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.
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