FRNW vs. ERTH
Compare and contrast key facts about Fidelity Clean Energy ETF (FRNW) and Invesco MSCI Sustainable Future ETF (ERTH).
FRNW and ERTH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FRNW is an actively managed fund by Fidelity. It was launched on Oct 5, 2021. ERTH is a passively managed fund by Invesco that tracks the performance of the MSCI Global Environment Select Index. It was launched on Oct 24, 2006.
Performance
FRNW vs. ERTH - Performance Comparison
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FRNW vs. ERTH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FRNW Fidelity Clean Energy ETF | 13.86% | 53.20% | -21.11% | -19.64% | -11.46% | -2.85% |
ERTH Invesco MSCI Sustainable Future ETF | 0.63% | 18.47% | -13.56% | 0.12% | -27.59% | 5.14% |
Returns By Period
In the year-to-date period, FRNW achieves a 13.86% return, which is significantly higher than ERTH's 0.63% return.
FRNW
- 1D
- 3.77%
- 1M
- 1.51%
- YTD
- 13.86%
- 6M
- 19.32%
- 1Y
- 82.53%
- 3Y*
- 2.45%
- 5Y*
- —
- 10Y*
- —
ERTH
- 1D
- 3.12%
- 1M
- -1.76%
- YTD
- 0.63%
- 6M
- 0.08%
- 1Y
- 23.97%
- 3Y*
- 0.09%
- 5Y*
- -5.43%
- 10Y*
- 7.19%
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FRNW vs. ERTH - Expense Ratio Comparison
FRNW has a 0.39% expense ratio, which is lower than ERTH's 0.55% expense ratio.
Return for Risk
FRNW vs. ERTH — Risk / Return Rank
FRNW
ERTH
FRNW vs. ERTH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Clean Energy ETF (FRNW) and Invesco MSCI Sustainable Future ETF (ERTH). 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.
| FRNW | ERTH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.06 | 1.18 | +1.88 |
Sortino ratioReturn per unit of downside risk | 3.68 | 1.79 | +1.89 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.23 | +0.24 |
Calmar ratioReturn relative to maximum drawdown | 6.92 | 1.81 | +5.11 |
Martin ratioReturn relative to average drawdown | 20.36 | 7.31 | +13.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRNW | ERTH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 1.18 | +1.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.24 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.04 | 0.19 | -0.23 |
Correlation
The correlation between FRNW and ERTH is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FRNW vs. ERTH - Dividend Comparison
FRNW's dividend yield for the trailing twelve months is around 1.10%, less than ERTH's 1.48% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRNW Fidelity Clean Energy ETF | 1.10% | 1.25% | 1.43% | 1.30% | 0.69% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ERTH Invesco MSCI Sustainable Future ETF | 1.48% | 1.46% | 1.00% | 1.28% | 1.22% | 15.33% | 0.21% | 0.71% | 0.61% | 0.87% | 1.06% | 0.79% |
Drawdowns
FRNW vs. ERTH - Drawdown Comparison
The maximum FRNW drawdown since its inception was -59.37%, smaller than the maximum ERTH drawdown of -64.45%. Use the drawdown chart below to compare losses from any high point for FRNW and ERTH.
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Drawdown Indicators
| FRNW | ERTH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.37% | -64.45% | +5.08% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -12.78% | +1.20% |
Max Drawdown (5Y)Largest decline over 5 years | — | -51.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.72% | — |
Current DrawdownCurrent decline from peak | -17.78% | -32.20% | +14.42% |
Average DrawdownAverage peak-to-trough decline | -34.25% | -21.40% | -12.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.17% | +0.77% |
Volatility
FRNW vs. ERTH - Volatility Comparison
Fidelity Clean Energy ETF (FRNW) has a higher volatility of 8.61% compared to Invesco MSCI Sustainable Future ETF (ERTH) at 7.21%. This indicates that FRNW's price experiences larger fluctuations and is considered to be riskier than ERTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNW | ERTH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.61% | 7.21% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 19.58% | 12.59% | +6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.14% | 20.47% | +6.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.46% | 22.91% | +5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.46% | 22.63% | +5.83% |