FNARX vs. PRNEX
FNARX (Fidelity Natural Resources Fund) and PRNEX (T. Rowe Price New Era Fund) are both Energy Equities funds. Over the past 10 years, FNARX returned 11.17%/yr vs 8.21%/yr for PRNEX. Their correlation of 0.95 means they have usually moved in the same direction. FNARX charges 0.69%/yr vs 0.56%/yr for PRNEX.
Performance
FNARX vs. PRNEX - Performance Comparison
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Returns By Period
In the year-to-date period, FNARX achieves a 24.42% return, which is significantly higher than PRNEX's 15.89% return. Over the past 10 years, FNARX has outperformed PRNEX with an annualized return of 11.17%, while PRNEX has yielded a comparatively lower 8.21% annualized return.
FNARX
- 1D
- 1.40%
- 1M
- 8.41%
- 6M
- 11.26%
- YTD
- 24.42%
- 1Y
- 42.38%
- 3Y*
- 17.31%
- 5Y*
- 22.57%
- 10Y*
- 11.17%
- ALL TIME*
- 8.51%
PRNEX
- 1D
- 1.91%
- 1M
- 2.40%
- 6M
- 3.92%
- YTD
- 15.89%
- 1Y
- 30.13%
- 3Y*
- 11.02%
- 5Y*
- 11.09%
- 10Y*
- 8.21%
- ALL TIME*
- 7.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FNARX vs. PRNEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNARX Fidelity Natural Resources Fund | 24.42% | 28.67% | 3.76% | 6.41% | 41.01% | 39.34% | -20.86% | 19.09% | -24.28% | -0.11% |
PRNEX T. Rowe Price New Era Fund | 15.89% | 18.85% | 4.41% | 1.02% | 7.14% | 25.35% | -2.63% | 16.91% | -16.23% | 10.57% |
Correlation
The correlation between FNARX and PRNEX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 1997 | 0.95 |
The correlation between FNARX and PRNEX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
FNARX vs. PRNEX — Risk / Return Rank
FNARX
PRNEX
FNARX vs. PRNEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Natural Resources Fund (FNARX) and T. Rowe Price New Era Fund (PRNEX). 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 | PRNEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.32 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 2.95 | +0.07 |
| Martin ratioReturn relative to average drawdown | 9.64 | 8.89 | +0.75 |
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Drawdowns
FNARX vs. PRNEX - Drawdown Comparison
The maximum FNARX drawdown since its inception was -71.04%, which is greater than PRNEX's maximum drawdown of -66.56%. Use the drawdown chart below to compare losses from any high point for FNARX and PRNEX.
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Drawdown Indicators
| FNARX | PRNEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.04% | -66.56% | -4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -9.52% | -3.67% |
Max Drawdown (3Y)Largest decline over 3 years | -20.64% | -20.19% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -29.93% | -21.50% | -8.43% |
Max Drawdown (10Y)Largest decline over 10 years | -64.10% | -49.64% | -14.46% |
Current DrawdownCurrent decline from peak | -4.57% | -6.83% | +2.26% |
Average DrawdownAverage peak-to-trough decline | -19.99% | -16.26% | -3.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.16% | +0.97% |
Volatility
FNARX vs. PRNEX - Volatility Comparison
Fidelity Natural Resources Fund (FNARX) and T. Rowe Price New Era Fund (PRNEX) have volatilities of 4.51% and 4.46%, 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.
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Volatility by Period
| FNARX | PRNEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 4.46% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.60% | 12.18% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.23% | 15.46% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.80% | 18.71% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.79% | 20.53% | +6.26% |
FNARX vs. PRNEX - Expense Ratio Comparison
FNARX has a 0.69% expense ratio, which is higher than PRNEX's 0.56% expense ratio.
Dividends
FNARX vs. PRNEX - Dividend Comparison
FNARX's dividend yield for the trailing twelve months is around 1.76%, less than PRNEX's 7.80% 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% |
PRNEX T. Rowe Price New Era Fund | 7.80% | 9.04% | 4.81% | 11.46% | 4.47% | 2.07% | 2.54% | 2.18% | 1.69% | 1.89% | 1.28% | 2.68% |
Frequently Asked Questions
FNARX and PRNEX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNARX has higher volatility (4.51%) compared to PRNEX (4.46%). In terms of maximum drawdown, FNARX dropped -71.04% vs PRNEX's -66.56%.
FNARX currently has the higher Sharpe Ratio (2.20 vs 1.83), 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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