FNORX vs. EDEN
FNORX (Fidelity Nordic Fund) and EDEN (iShares MSCI Denmark ETF) are both funds - FNORX is a Foreign Large Cap Equities fund managed by Fidelity, while EDEN is a Europe Equities fund tracking the MSCI Denmark IMI 25/50 Index. Over the past 10 years, FNORX returned 9.67%/yr vs 9.03%/yr for EDEN. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FNORX charges 0.92%/yr vs 0.53%/yr for EDEN.
Performance
FNORX vs. EDEN - Performance Comparison
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Returns By Period
In the year-to-date period, FNORX achieves a 9.22% return, which is significantly higher than EDEN's 0.71% return. Over the past 10 years, FNORX has outperformed EDEN with an annualized return of 9.67%, while EDEN has yielded a comparatively lower 9.03% annualized return.
FNORX
- 1D
- 2.44%
- 1M
- 0.42%
- 6M
- 1.23%
- YTD
- 9.22%
- 1Y
- 22.37%
- 3Y*
- 13.14%
- 5Y*
- 4.80%
- 10Y*
- 9.67%
- ALL TIME*
- 10.34%
EDEN
- 1D
- -2.33%
- 1M
- -1.18%
- 6M
- -5.46%
- YTD
- 0.71%
- 1Y
- 11.69%
- 3Y*
- 4.23%
- 5Y*
- 2.08%
- 10Y*
- 9.03%
- ALL TIME*
- 12.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $542.51K | $1.19M | $1.06M | |
FNORX Fidelity Nordic Fund | $0.00 | $0.00 | $0.00 |
FNORX vs. EDEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNORX Fidelity Nordic Fund | 9.22% | 25.85% | -4.51% | 20.85% | -19.29% | 12.77% | 43.03% | 17.26% | -11.56% | 22.48% |
EDEN iShares MSCI Denmark ETF | 0.71% | 10.58% | -3.94% | 17.99% | -11.47% | 14.81% | 42.56% | 24.37% | -14.43% | 35.39% |
Correlation
The correlation between FNORX and EDEN is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2012 | 0.76 |
The correlation between FNORX and EDEN shifts across timeframes, from 0.72 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FNORX vs. EDEN — Risk / Return Rank
FNORX
EDEN
FNORX vs. EDEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Nordic Fund (FNORX) and iShares MSCI Denmark ETF (EDEN). 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.
| FNORX | EDEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.13 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.59 | +1.05 |
| Martin ratioReturn relative to average drawdown | 5.01 | 1.37 | +3.64 |
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Drawdowns
FNORX vs. EDEN - Drawdown Comparison
The maximum FNORX drawdown since its inception was -69.72%, which is greater than EDEN's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for FNORX and EDEN.
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Drawdown Indicators
| FNORX | EDEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.72% | -36.61% | -33.11% |
Max Drawdown (1Y)Largest decline over 1 year | -12.98% | -21.17% | +8.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -29.31% | +10.55% |
Max Drawdown (5Y)Largest decline over 5 years | -38.15% | -36.61% | -1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -38.15% | -36.61% | -1.54% |
Current DrawdownCurrent decline from peak | -4.36% | -10.20% | +5.84% |
Average DrawdownAverage peak-to-trough decline | -17.38% | -7.41% | -9.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 9.04% | -4.81% |
Volatility
FNORX vs. EDEN - Volatility Comparison
The current volatility for Fidelity Nordic Fund (FNORX) is 4.39%, while iShares MSCI Denmark ETF (EDEN) has a volatility of 5.77%. This indicates that FNORX experiences smaller price fluctuations and is considered to be less risky than EDEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNORX | EDEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 5.77% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 15.53% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.55% | 19.78% | -2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.14% | 20.37% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 19.20% | -0.42% |
FNORX vs. EDEN - Expense Ratio Comparison
FNORX has a 0.92% expense ratio, which is higher than EDEN's 0.53% expense ratio.
Dividends
FNORX vs. EDEN - Dividend Comparison
FNORX's dividend yield for the trailing twelve months is around 8.00%, more than EDEN's 3.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EDEN iShares MSCI Denmark ETF | 3.04% | 2.79% | 1.50% | 1.92% | 1.47% | 0.74% | 0.42% | 2.36% | 2.01% | 2.03% | 1.28% | 1.46% |
FNORX Fidelity Nordic Fund | 8.00% | 8.74% | 6.14% | 0.05% | 0.00% | 14.85% | 3.29% | 4.59% | 10.78% | 3.13% | 1.71% | 1.32% |
Frequently Asked Questions
FNORX and EDEN have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDEN has higher volatility (5.77%) compared to FNORX (4.39%). In terms of maximum drawdown, FNORX dropped -69.72% vs EDEN's -36.61%.
FNORX currently has the higher Sharpe Ratio (1.22 vs 0.63), 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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