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IAUM vs. FENY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAUM vs. FENY

Last updated Jun 9, 2026

IAUM (iShares Gold Trust Micro) and FENY (Fidelity MSCI Energy Index ETF) are both exchange-traded funds - IAUM is a Gold fund tracking the LBMA Gold Price PM, while FENY is a Energy Equities fund tracking the MSCI USA IMI Energy 25/50 Index. Both are passively managed. Over the past 3 years, IAUM returned 30.12%/yr vs 16.98%/yr for FENY. At a 0.14 correlation, their price movements are largely independent. IAUM charges 0.09%/yr vs 0.08%/yr for FENY.

Performance

IAUM vs. FENY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Gold Trust Micro (IAUM) and Fidelity MSCI Energy Index ETF (FENY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAUM achieves a 0.28% return, which is significantly lower than FENY's 31.30% return.

IAUM

1D
0.21%
1M
-8.41%
YTD
0.28%
6M
3.16%
1Y
30.56%
3Y*
30.12%
5Y*
—
10Y*
—

FENY

1D
1.22%
1M
3.82%
YTD
31.30%
6M
29.90%
1Y
44.41%
3Y*
16.98%
5Y*
20.27%
10Y*
9.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAUM vs. FENY - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IAUM
iShares Gold Trust Micro		0.28%64.27%27.04%13.12%-0.49%3.87%
FENY
Fidelity MSCI Energy Index ETF		31.30%7.27%6.62%-0.04%62.94%6.33%

Correlation

The correlation between IAUM and FENY is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Jun 30, 2021

0.14

The correlation between IAUM and FENY shifts across timeframes, from 0.03 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

IAUM vs. FENY - Sectors Allocation Comparison

Sectors
IAUM
FENY

Real Estate

100.0%

-

Basic Materials

-

0.2%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

99.7%

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.1%

Technology

-

-

Utilities

-

-

Real Estate

IAUM
100.0%
FENY

-

Basic Materials

IAUM

-

FENY
0.2%

Communication Services

IAUM

-

FENY

-

Consumer Cyclical

IAUM

-

FENY

-

Consumer Defensive

IAUM

-

FENY

-

Energy

IAUM

-

FENY
99.7%

Financial Services

IAUM

-

FENY

-

Healthcare

IAUM

-

FENY

-

Industrials

IAUM

-

FENY
0.1%

Technology

IAUM

-

FENY

-

Utilities

IAUM

-

FENY

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Trust Micro

Fidelity MSCI Energy Index ETF

Often compared with IAUM:
IAUM vs. IAUIAUM vs. GLDMIAUM vs. GLDIAUM vs. FSAGXIAUM vs. SGOLIAUM vs. PHYSIAUM vs. SIVR
Often compared with FENY:
FENY vs. XLEFENY vs. VDEFENY vs. FSENXFENY vs. IYEFENY vs. FNARXFENY vs. SCHDFENY vs. IEO

Return for Risk

IAUM vs. FENY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAUM
IAUM Risk / Return Rank: 3434
Overall Rank
IAUM Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
IAUM Sortino Ratio Rank: 3131
Sortino Ratio Rank
IAUM Omega Ratio Rank: 3939
Omega Ratio Rank
IAUM Calmar Ratio Rank: 3434
Calmar Ratio Rank
IAUM Martin Ratio Rank: 2929
Martin Ratio Rank
FENY
FENY Risk / Return Rank: 7171
Overall Rank
FENY Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FENY Sortino Ratio Rank: 6868
Sortino Ratio Rank
FENY Omega Ratio Rank: 6565
Omega Ratio Rank
FENY Calmar Ratio Rank: 8080
Calmar Ratio Rank
FENY Martin Ratio Rank: 6666
Martin Ratio Rank
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.

IAUM vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust Micro (IAUM) and Fidelity MSCI Energy Index ETF (FENY). 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.

IAUMFENYDifference
Sharpe ratioReturn per unit of total volatility
1.16
2.19

-1.04

Sortino ratioReturn per unit of downside risk
1.54
2.81

-1.27

Omega ratioGain probability vs. loss probability

1.23

1.35

-0.12

Calmar ratioReturn relative to maximum drawdown

1.53

3.79

-2.25

Martin ratioReturn relative to average drawdown

3.84

10.95

-7.11

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAUM vs. FENY - Sharpe Ratio Comparison

The current IAUM Sharpe Ratio is 1.16, which is lower than the FENY Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of IAUM and FENY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IAUMFENYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.16

2.19

-1.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.77

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.31

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.11

0.20

+0.92

Drawdowns

IAUM vs. FENY - Drawdown Comparison

The maximum IAUM drawdown since its inception was -20.87%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for IAUM and FENY.

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Drawdown Indicators

IAUMFENYDifference

Max Drawdown

Largest peak-to-trough decline

-20.87%

-74.35%

+53.48%

Max Drawdown (1Y)

Largest decline over 1 year

-20.02%

-11.78%

-8.24%

Max Drawdown (3Y)

Largest decline over 3 years

-20.02%

-21.47%

+1.45%

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.64%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-69.07%

—

Current Drawdown

Current decline from peak

-19.85%

-7.04%

-12.81%

Average Drawdown

Average peak-to-trough decline

-5.33%

-23.11%

+17.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.98%

4.07%

+3.91%

Volatility

IAUM vs. FENY - Volatility Comparison

The current volatility for iShares Gold Trust Micro (IAUM) is 5.64%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 6.96%. This indicates that IAUM experiences smaller price fluctuations and is considered to be less risky than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAUMFENYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.64%

6.96%

-1.32%

Volatility (6M)

Calculated over the trailing 6-month period

23.20%

16.35%

+6.85%

Volatility (1Y)

Calculated over the trailing 1-year period

26.57%

20.38%

+6.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.92%

26.48%

-8.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.92%

29.80%

-11.88%

IAUM vs. FENY - Expense Ratio Comparison

IAUM has a 0.09% expense ratio, which is higher than FENY's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IAUM vs. FENY - Dividend Comparison

IAUM has not paid dividends to shareholders, while FENY's dividend yield for the trailing twelve months is around 2.43%.

PositionTTM20252024202320222021202020192018201720162015
FENY
Fidelity MSCI Energy Index ETF		2.43%3.18%3.05%3.33%3.33%3.69%4.60%6.43%3.21%2.94%2.29%3.05%
IAUM
iShares Gold Trust Micro		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IAUM and FENY have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FENY has higher volatility (6.96%) compared to IAUM (5.64%). In terms of maximum drawdown, IAUM dropped -20.87% vs FENY's -74.35%.

On 3-year performance, IAUM leads with 30.12% vs 16.98% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, IAUM has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IAUM has performed better with a 30.12% return vs 16.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FENY is cheaper with a 0.08% expense ratio, compared with 0.09% for IAUM.

FENY has the higher dividend yield at 2.43%, compared with 0.00% for IAUM.

IAUM is categorized as Gold, while FENY is Energy Equities. IAUM tracks LBMA Gold Price PM, while FENY tracks MSCI USA IMI Energy 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.09% for IAUM and 0.08% for FENY.

FENY currently has the higher Sharpe Ratio (2.19 vs 1.16), 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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