FSENX vs. MLPQ.L

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Select Energy Portfolio (FSENX) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L).

FSENX is managed by Fidelity. It was launched on Jul 14, 1981. MLPQ.L is a passively managed fund by Invesco that tracks the performance of the MSCI World/Energy NR USD. It was launched on May 15, 2013.

Performance

FSENX vs. MLPQ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Energy Portfolio (FSENX) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L). The values are adjusted to include any dividend payments, if applicable.

FSENX vs. MLPQ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSENX Fidelity Select Energy Portfolio	39.52%	10.56%	4.26%	0.94%	62.98%	55.31%	-32.51%	9.90%	-24.94%	-2.65%
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF	14.28%	2.66%	22.56%	18.90%	31.70%	37.39%	-31.51%	8.01%	-15.08%	-8.97%

Different Trading Currencies

FSENX is traded in USD, while MLPQ.L is traded in GBp. To make them comparable, the MLPQ.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FSENX achieves a 39.52% return, which is significantly higher than MLPQ.L's 14.28% return. Over the past 10 years, FSENX has outperformed MLPQ.L with an annualized return of 11.34%, while MLPQ.L has yielded a comparatively lower 9.49% annualized return.

FSENX

• 1D: -0.72%
• 1M: 7.77%
• YTD: 39.52%
• 6M: 41.43%
• 1Y: 45.11%
• 3Y*: 19.09%
• 5Y*: 25.77%
• 10Y*: 11.34%

MLPQ.L

• 1D: -3.38%
• 1M: -2.00%
• YTD: 14.28%
• 6M: 14.00%
• 1Y: 5.52%
• 3Y*: 18.44%
• 5Y*: 20.47%
• 10Y*: 9.49%

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

FSENX vs. MLPQ.L - Expense Ratio Comparison

FSENX has a 0.77% expense ratio, which is higher than MLPQ.L's 0.50% expense ratio.

FSENX

Fidelity Select Energy Portfolio

MLPQ.L

Invesco Morningstar US Energy Infrastructure MLP UCITS ETF

Return for Risk

FSENX vs. MLPQ.L — Risk / Return Rank

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

FSENX

FSENX Risk / Return Rank: 86
FSENX Sharpe Ratio Rank: 90
FSENX Sortino Ratio Rank: 87
FSENX Omega Ratio Rank: 84
FSENX Calmar Ratio Rank: 88
FSENX Martin Ratio Rank: 82

MLPQ.L

MLPQ.L Risk / Return Rank: 14
MLPQ.L Sharpe Ratio Rank: 15
MLPQ.L Sortino Ratio Rank: 14
MLPQ.L Omega Ratio Rank: 14
MLPQ.L Calmar Ratio Rank: 15
MLPQ.L Martin Ratio Rank: 14

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.

FSENX vs. MLPQ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Energy Portfolio (FSENX) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L). 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.

	FSENX	MLPQ.L	Difference
Sharpe ratio Return per unit of total volatility	1.89	0.28	+1.61
Sortino ratio Return per unit of downside risk	2.38	0.49	+1.89
Omega ratio Gain probability vs. loss probability	1.35	1.07	+0.28
Calmar ratio Return relative to maximum drawdown	2.38	0.31	+2.07
Martin ratio Return relative to average drawdown	8.35	1.00	+7.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSENX vs. MLPQ.L - Sharpe Ratio Comparison

The current FSENX Sharpe Ratio is 1.89, which is higher than the MLPQ.L Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of FSENX and MLPQ.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSENX	MLPQ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	0.28	+1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	1.00	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.33	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.14	+0.19

Correlation

The correlation between FSENX and MLPQ.L is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FSENX vs. MLPQ.L - Dividend Comparison

FSENX's dividend yield for the trailing twelve months is around 1.39%, while MLPQ.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSENX Fidelity Select Energy Portfolio	1.39%	1.95%	1.95%	1.98%	2.50%	2.25%	3.43%	1.84%	1.48%	1.74%	0.62%	1.29%
MLPQ.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FSENX vs. MLPQ.L - Drawdown Comparison

The maximum FSENX drawdown since its inception was -76.24%, smaller than the maximum MLPQ.L drawdown of -82.34%. Use the drawdown chart below to compare losses from any high point for FSENX and MLPQ.L.

Drawdown Indicators

	FSENX	MLPQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-76.24%	-75.62%	-0.62%
Max Drawdown (1Y) Largest decline over 1 year	-19.96%	-16.22%	-3.74%
Max Drawdown (5Y) Largest decline over 5 years	-28.02%	-19.04%	-8.98%
Max Drawdown (10Y) Largest decline over 10 years	-72.11%	-74.07%	+1.96%
Current Drawdown Current decline from peak	-1.93%	-4.80%	+2.87%
Average Drawdown Average peak-to-trough decline	-17.06%	-20.24%	+3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	6.18%	-0.49%

Volatility

FSENX vs. MLPQ.L - Volatility Comparison

The current volatility for Fidelity Select Energy Portfolio (FSENX) is 5.04%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (MLPQ.L) has a volatility of 5.86%. This indicates that FSENX experiences smaller price fluctuations and is considered to be less risky than MLPQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSENX	MLPQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	5.86%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	10.43%	+3.03%
Volatility (1Y) Calculated over the trailing 1-year period	24.64%	19.69%	+4.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.41%	20.57%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.99%	28.50%	+2.49%