FRNRX vs. VENAX
FRNRX (Franklin Natural Resources Fund) and VENAX (Vanguard Energy Index Fund Admiral Shares) are both Energy Equities funds. Over the past 10 years, FRNRX returned 10.68%/yr vs 8.77%/yr for VENAX. Their correlation of 0.94 suggests significant overlap in exposure. FRNRX charges 0.96%/yr vs 0.10%/yr for VENAX.
Performance
FRNRX vs. VENAX - Performance Comparison
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Returns By Period
In the year-to-date period, FRNRX achieves a 18.70% return, which is significantly lower than VENAX's 22.81% return. Over the past 10 years, FRNRX has outperformed VENAX with an annualized return of 10.68%, while VENAX has yielded a comparatively lower 8.77% annualized return.
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%
VENAX
- 1D
- 1.29%
- 1M
- -8.51%
- YTD
- 22.81%
- 6M
- 23.30%
- 1Y
- 30.20%
- 3Y*
- 15.91%
- 5Y*
- 18.73%
- 10Y*
- 8.77%
FRNRX vs. VENAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VENAX Vanguard Energy Index Fund Admiral Shares | 22.81% | 7.29% | 6.57% | 0.05% | 62.94% | 55.57% | -33.27% | 9.36% | -19.90% | -2.39% |
Correlation
The correlation between FRNRX and VENAX is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004 | 0.94 |
Over the past year, the correlation between FRNRX and VENAX has dropped to 0.65 - well below their long-term average of 0.94, suggesting their price drivers have been diverging.
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Return for Risk
FRNRX vs. VENAX — Risk / Return Rank
FRNRX
VENAX
FRNRX vs. VENAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Natural Resources Fund (FRNRX) and Vanguard Energy Index Fund Admiral Shares (VENAX). 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.
| FRNRX | VENAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.22 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 1.89 | +4.76 |
| Martin ratioReturn relative to average drawdown | 21.07 | 5.92 | +15.15 |
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Drawdowns
FRNRX vs. VENAX - Drawdown Comparison
The maximum FRNRX drawdown since its inception was -80.54%, which is greater than VENAX's maximum drawdown of -74.42%. Use the drawdown chart below to compare losses from any high point for FRNRX and VENAX.
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Drawdown Indicators
| FRNRX | VENAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.54% | -74.42% | -6.12% |
Max Drawdown (1Y)Largest decline over 1 year | -6.53% | -14.22% | +7.69% |
Max Drawdown (3Y)Largest decline over 3 years | -19.65% | -21.44% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -26.59% | +0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -70.71% | -69.58% | -1.13% |
Current DrawdownCurrent decline from peak | -5.82% | -13.11% | +7.29% |
Average DrawdownAverage peak-to-trough decline | -23.79% | -19.96% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 4.58% | -2.52% |
Volatility
FRNRX vs. VENAX - Volatility Comparison
The current volatility for Franklin Natural Resources Fund (FRNRX) is 5.71%, while Vanguard Energy Index Fund Admiral Shares (VENAX) has a volatility of 7.05%. This indicates that FRNRX experiences smaller price fluctuations and is considered to be less risky than VENAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNRX | VENAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 7.05% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.43% | 16.66% | -3.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.09% | 20.86% | -3.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.55% | 26.40% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.56% | 30.26% | -1.70% |
FRNRX vs. VENAX - Expense Ratio Comparison
FRNRX has a 0.96% expense ratio, which is higher than VENAX's 0.10% expense ratio.
Dividends
FRNRX vs. VENAX - Dividend Comparison
FRNRX's dividend yield for the trailing twelve months is around 1.43%, less than VENAX's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VENAX Vanguard Energy Index Fund Admiral Shares | 2.56% | 3.10% | 3.24% | 3.34% | 3.65% | 3.80% | 4.76% | 3.41% | 3.35% | 2.90% | 2.31% | 3.17% |
Frequently Asked Questions
FRNRX and VENAX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VENAX has higher volatility (7.05%) compared to FRNRX (5.71%). In terms of maximum drawdown, FRNRX dropped -80.54% vs VENAX's -74.42%.
FRNRX currently has the higher Sharpe Ratio (2.55 vs 1.29), 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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