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IGF vs. FENY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGF vs. FENY

Last updated Jun 13, 2026

IGF (iShares Global Infrastructure ETF) and FENY (Fidelity MSCI Energy Index ETF) are both exchange-traded funds - IGF is a Industrials Equities fund tracking the S&P Global Infrastructure Index, while FENY is a Energy Equities fund tracking the MSCI USA IMI Energy 25/50 Index. Both are passively managed. Over the past 10 years, IGF returned 8.67%/yr vs 9.24%/yr for FENY. A 0.52 correlation means they provide meaningful diversification when combined. IGF charges 0.39%/yr vs 0.08%/yr for FENY.

Performance

IGF vs. FENY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Infrastructure ETF (IGF) 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, IGF achieves a 9.68% return, which is significantly lower than FENY's 29.64% return. Over the past 10 years, IGF has underperformed FENY with an annualized return of 8.67%, while FENY has yielded a comparatively higher 9.24% annualized return.

IGF

1D
0.67%
1M
0.31%
YTD
9.68%
6M
10.24%
1Y
16.24%
3Y*
16.28%
5Y*
10.22%
10Y*
8.67%

FENY

1D
0.79%
1M
-0.72%
YTD
29.64%
6M
28.30%
1Y
37.40%
3Y*
16.71%
5Y*
20.03%
10Y*
9.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGF vs. FENY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGF
iShares Global Infrastructure ETF		9.68%21.31%14.81%6.14%-1.26%11.57%-6.50%25.82%-9.95%19.31%
FENY
Fidelity MSCI Energy Index ETF		29.64%7.27%6.62%-0.04%62.94%55.62%-33.15%9.11%-19.99%-2.30%

Correlation

The correlation between IGF and FENY is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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

0.35

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (10Y)
Calculated over the trailing 10-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2013

0.52

Over the past year, the correlation between IGF and FENY has dropped to 0.12 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

IGF vs. FENY - Sectors Allocation Comparison

Sectors
IGF
FENY

Utilities

41.1%

-

Industrials

38.8%
0.1%

Energy

20.1%
99.7%

Real Estate

0.1%

-

Basic Materials

-

0.2%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Technology

-

-

Utilities

IGF
41.1%
FENY

-

Industrials

IGF
38.8%
FENY
0.1%

Energy

IGF
20.1%
FENY
99.7%

Real Estate

IGF
0.1%
FENY

-

Basic Materials

IGF

-

FENY
0.2%

Communication Services

IGF

-

FENY

-

Consumer Cyclical

IGF

-

FENY

-

Consumer Defensive

IGF

-

FENY

-

Financial Services

IGF

-

FENY

-

Healthcare

IGF

-

FENY

-

Technology

IGF

-

FENY

-

Compare stocks, funds, or ETFs

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iShares Global Infrastructure ETF

Fidelity MSCI Energy Index ETF

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Often compared with FENY:
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Return for Risk

IGF vs. FENY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGF
IGF Risk / Return Rank: 5454
Overall Rank
IGF Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IGF Sortino Ratio Rank: 5252
Sortino Ratio Rank
IGF Omega Ratio Rank: 4949
Omega Ratio Rank
IGF Calmar Ratio Rank: 6464
Calmar Ratio Rank
IGF Martin Ratio Rank: 5353
Martin Ratio Rank
FENY
FENY Risk / Return Rank: 6161
Overall Rank
FENY Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
FENY Sortino Ratio Rank: 5959
Sortino Ratio Rank
FENY Omega Ratio Rank: 5454
Omega Ratio Rank
FENY Calmar Ratio Rank: 7272
Calmar Ratio Rank
FENY Martin Ratio Rank: 5858
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.

IGF vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure ETF (IGF) 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.

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.

IGFFENYDifference
Sharpe ratioReturn per unit of total volatility
1.55
1.84

-0.29

Sortino ratioReturn per unit of downside risk
2.22
2.41

-0.20

Omega ratioGain probability vs. loss probability

1.27

1.30

-0.02

Calmar ratioReturn relative to maximum drawdown

2.78

3.19

-0.41

Martin ratioReturn relative to average drawdown

8.03

8.93

-0.90

IGF vs. FENY - Sharpe Ratio Comparison

The current IGF Sharpe Ratio is 1.55, which is comparable to the FENY Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of IGF 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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Drawdowns

IGF vs. FENY - Drawdown Comparison

The maximum IGF drawdown since its inception was -58.33%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for IGF and FENY.

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Drawdown Indicators

IGFFENYDifference

Max Drawdown

Largest peak-to-trough decline

-58.33%

-74.35%

+16.02%

Max Drawdown (1Y)

Largest decline over 1 year

-5.87%

-11.78%

+5.91%

Max Drawdown (3Y)

Largest decline over 3 years

-14.28%

-21.47%

+7.19%

Max Drawdown (5Y)

Largest decline over 5 years

-20.83%

-26.64%

+5.81%

Max Drawdown (10Y)

Largest decline over 10 years

-42.11%

-69.07%

+26.96%

Current Drawdown

Current decline from peak

-2.98%

-8.22%

+5.24%

Average Drawdown

Average peak-to-trough decline

-11.86%

-23.08%

+11.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.04%

4.20%

-2.16%

Volatility

IGF vs. FENY - Volatility Comparison

The current volatility for iShares Global Infrastructure ETF (IGF) is 3.85%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 7.15%. This indicates that IGF 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

IGFFENYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

7.15%

-3.30%

Volatility (6M)

Calculated over the trailing 6-month period

8.73%

16.58%

-7.85%

Volatility (1Y)

Calculated over the trailing 1-year period

10.58%

20.47%

-9.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.00%

26.51%

-12.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.83%

29.79%

-12.96%

IGF vs. FENY - Expense Ratio Comparison

IGF has a 0.39% expense ratio, which is higher than FENY's 0.08% expense ratio.

Dividends

IGF vs. FENY - Dividend Comparison

IGF's dividend yield for the trailing twelve months is around 2.94%, more than FENY's 2.46% yield.

PositionTTM20252024202320222021202020192018201720162015
FENY
Fidelity MSCI Energy Index ETF		2.46%3.18%3.05%3.33%3.33%3.69%4.60%6.43%3.21%2.94%2.29%3.05%
IGF
iShares Global Infrastructure ETF		2.94%3.23%3.21%3.36%2.67%2.42%2.33%3.27%3.52%2.95%2.98%3.25%

Frequently Asked Questions

IGF and FENY have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FENY has higher volatility (7.15%) compared to IGF (3.85%). In terms of maximum drawdown, IGF dropped -58.33% vs FENY's -74.35%.

On 10-year performance, FENY leads with 9.24% vs 8.67% for IGF. On fees, FENY is cheaper at 0.08% per year. On volatility, IGF has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FENY has performed better with a 9.24% return vs 8.67%. 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 0.39% for IGF.

IGF has the higher dividend yield at 2.94%, compared with 2.46% for FENY.

IGF is categorized as Industrials Equities, while FENY is Energy Equities. IGF tracks S&P Global Infrastructure Index, while FENY tracks MSCI USA IMI Energy 25/50 Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.39% for IGF and 0.08% for FENY.

FENY currently has the higher Sharpe Ratio (1.84 vs 1.55), 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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