FNARX vs. FTRI

Last updated Jun 3, 2026

FNARX (Fidelity Natural Resources Fund) and FTRI (First Trust Indxx Global Natural Resources Income ETF) are both funds - FNARX is a Energy Equities fund managed by Fidelity, while FTRI is a Commodity Producers Equities fund tracking the Indxx Global Natural Resources Income Index. Over the past 10 years, FNARX returned 10.96%/yr vs 10.48%/yr for FTRI. A 0.71 correlation means they provide meaningful diversification when combined. FNARX charges 0.82%/yr vs 0.70%/yr for FTRI.

Performance

FNARX vs. FTRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Natural Resources Fund (FNARX) and First Trust Indxx Global Natural Resources Income ETF (FTRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNARX achieves a 24.50% return, which is significantly higher than FTRI's 11.43% return. Both investments have delivered pretty close results over the past 10 years, with FNARX having a 10.96% annualized return and FTRI not far behind at 10.48%.

FNARX

• 1D: 1.31%
• 1M: -1.35%
• YTD: 24.50%
• 6M: 25.84%
• 1Y: 48.02%
• 3Y*: 21.74%
• 5Y*: 20.22%
• 10Y*: 10.96%

FTRI

• 1D: 1.37%
• 1M: -0.15%
• YTD: 11.43%
• 6M: 15.73%
• 1Y: 27.60%
• 3Y*: 16.63%
• 5Y*: 8.51%
• 10Y*: 10.48%

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

FNARX vs. FTRI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNARX Fidelity Natural Resources Fund	24.50%	28.67%	3.76%	6.41%	41.01%	39.34%	-20.86%	19.09%	-24.28%	-0.11%
FTRI First Trust Indxx Global Natural Resources Income ETF	11.43%	33.62%	-3.93%	1.53%	7.49%	25.29%	-0.79%	21.97%	-8.34%	11.77%

Correlation

The correlation between FNARX and FTRI is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 22, 2015	0.71

The correlation between FNARX and FTRI shifts across timeframes, from 0.62 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FNARX vs. FTRI — Risk / Return Rank

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

FNARX

FNARX Risk / Return Rank: 87
FNARX Sharpe Ratio Rank: 90
FNARX Sortino Ratio Rank: 81
FNARX Omega Ratio Rank: 73
FNARX Calmar Ratio Rank: 98
FNARX Martin Ratio Rank: 95

FTRI

FTRI Risk / Return Rank: 45
FTRI Sharpe Ratio Rank: 46
FTRI Sortino Ratio Rank: 40
FTRI Omega Ratio Rank: 43
FTRI Calmar Ratio Rank: 51
FTRI Martin Ratio Rank: 45

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.

FNARX vs. FTRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Natural Resources Fund (FNARX) and First Trust Indxx Global Natural Resources Income ETF (FTRI). 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.

	FNARX	FTRI	Difference
Sharpe ratio Return per unit of total volatility	2.94	1.60	+1.33
Sortino ratio Return per unit of downside risk	3.82	2.05	+1.77
Omega ratio Gain probability vs. loss probability	1.48	1.28	+0.20
Calmar ratio Return relative to maximum drawdown	8.66	2.60	+6.06
Martin ratio Return relative to average drawdown	23.11	7.54	+15.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNARX vs. FTRI - Sharpe Ratio Comparison

The current FNARX Sharpe Ratio is 2.94, which is higher than the FTRI Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FNARX and FTRI, 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

	FNARX	FTRI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	1.60	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.41	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.48	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.49	-0.18

Drawdowns

FNARX vs. FTRI - Drawdown Comparison

The maximum FNARX drawdown since its inception was -71.04%, which is greater than FTRI's maximum drawdown of -43.82%. Use the drawdown chart below to compare losses from any high point for FNARX and FTRI.

Drawdown Indicators

	FNARX	FTRI	Difference
Max Drawdown Largest peak-to-trough decline	-71.04%	-43.82%	-27.22%
Max Drawdown (1Y) Largest decline over 1 year	-5.74%	-11.87%	+6.13%
Max Drawdown (3Y) Largest decline over 3 years	-20.64%	-15.25%	-5.39%
Max Drawdown (5Y) Largest decline over 5 years	-29.93%	-27.51%	-2.42%
Max Drawdown (10Y) Largest decline over 10 years	-64.10%	-43.82%	-20.28%
Current Drawdown Current decline from peak	-4.51%	-8.64%	+4.13%
Average Drawdown Average peak-to-trough decline	-20.05%	-8.47%	-11.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	4.10%	-1.95%

Volatility

FNARX vs. FTRI - Volatility Comparison

The current volatility for Fidelity Natural Resources Fund (FNARX) is 5.10%, while First Trust Indxx Global Natural Resources Income ETF (FTRI) has a volatility of 5.57%. This indicates that FNARX experiences smaller price fluctuations and is considered to be less risky than FTRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNARX	FTRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	5.57%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	14.09%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	17.48%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.99%	20.76%	+4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.95%	22.03%	+4.92%

FNARX vs. FTRI - Expense Ratio Comparison

FNARX has a 0.82% expense ratio, which is higher than FTRI's 0.70% expense ratio.

Dividends

FNARX vs. FTRI - Dividend Comparison

FNARX's dividend yield for the trailing twelve months is around 1.76%, less than FTRI's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNARX Fidelity Natural Resources Fund	1.76%	1.89%	1.51%	1.60%	2.42%	1.46%	1.79%	1.42%	1.17%	1.38%	0.62%	0.78%
FTRI First Trust Indxx Global Natural Resources Income ETF	2.32%	2.35%	4.29%	6.56%	8.37%	6.58%	3.64%	6.25%	4.24%	3.60%	2.96%	0.89%

Frequently Asked Questions

Can I hold both FNARX and FTRI in my portfolio?

FNARX and FTRI have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNARX or FTRI?

FTRI has higher volatility (5.57%) compared to FNARX (5.10%). In terms of maximum drawdown, FNARX dropped -71.04% vs FTRI's -43.82%.

Which has better risk-adjusted returns?

FNARX currently has the higher Sharpe Ratio (2.94 vs 1.60), 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.