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IXC vs. FENY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXC vs. FENY

Last updated Jun 4, 2026

IXC (iShares Global Energy ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds - IXC tracks the S&P Global Energy Sector Index while FENY tracks the MSCI USA IMI Energy Index. Both are passively managed. Over the past 10 years, IXC returned 10.29%/yr vs 9.57%/yr for FENY. With a 0.97 correlation, they move nearly in lockstep. IXC charges 0.46%/yr vs 0.08%/yr for FENY.

Performance

IXC vs. FENY - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with IXC having a 32.22% return and FENY slightly higher at 32.28%. Over the past 10 years, IXC has outperformed FENY with an annualized return of 10.29%, while FENY has yielded a comparatively lower 9.57% annualized return.

IXC

1D
0.87%
1M
-1.75%
YTD
32.22%
6M
30.00%
1Y
48.10%
3Y*
18.84%
5Y*
19.64%
10Y*
10.29%

FENY

1D
1.12%
1M
-2.02%
YTD
32.28%
6M
29.37%
1Y
45.42%
3Y*
17.98%
5Y*
20.48%
10Y*
9.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXC vs. FENY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXC
iShares Global Energy ETF		32.22%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%5.54%
FENY
Fidelity MSCI Energy Index ETF		32.28%7.27%6.62%-0.04%62.94%55.62%-33.15%9.11%-19.99%-2.30%

Correlation

The correlation between IXC and FENY is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.97

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

0.97

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

0.98

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

0.97

Correlation (All Time)
Calculated using the full available price history since Oct 25, 2013

0.97

The correlation between IXC and FENY has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

IXC vs. FENY - Sectors Allocation Comparison

Sectors
IXC
FENY

Energy

100.0%
99.7%

Basic Materials

-

0.2%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.1%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Energy

IXC
100.0%
FENY
99.7%

Basic Materials

IXC

-

FENY
0.2%

Communication Services

IXC

-

FENY

-

Consumer Cyclical

IXC

-

FENY

-

Consumer Defensive

IXC

-

FENY

-

Financial Services

IXC

-

FENY

-

Healthcare

IXC

-

FENY

-

Industrials

IXC

-

FENY
0.1%

Real Estate

IXC

-

FENY

-

Technology

IXC

-

FENY

-

Utilities

IXC

-

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 Global Energy ETF

Fidelity MSCI Energy Index ETF

Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. XDW0.DEIXC vs. DDM
Often compared with FENY:
FENY vs. XLEFENY vs. VDEFENY vs. FSENXFENY vs. IYEFENY vs. FNARXFENY vs. SCHDFENY vs. IEO

Return for Risk

IXC vs. FENY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXC
IXC Risk / Return Rank: 7676
Overall Rank
IXC Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 7070
Sortino Ratio Rank
IXC Omega Ratio Rank: 6868
Omega Ratio Rank
IXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
IXC Martin Ratio Rank: 7777
Martin Ratio Rank
FENY
FENY Risk / Return Rank: 6464
Overall Rank
FENY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
FENY Sortino Ratio Rank: 6060
Sortino Ratio Rank
FENY Omega Ratio Rank: 5757
Omega Ratio Rank
FENY Calmar Ratio Rank: 7575
Calmar Ratio Rank
FENY Martin Ratio Rank: 6262
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.

IXC vs. FENY - Risk-Adjusted Trends Comparison

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

IXCFENYDifference
Sharpe ratioReturn per unit of total volatility
2.58
2.24

+0.34

Sortino ratioReturn per unit of downside risk
3.25
2.87

+0.38

Omega ratioGain probability vs. loss probability

1.42

1.36

+0.06

Calmar ratioReturn relative to maximum drawdown

5.00

3.87

+1.13

Martin ratioReturn relative to average drawdown

15.10

11.41

+3.68

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

IXC vs. FENY - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.58, which is comparable to the FENY Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of IXC 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

IXCFENYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.58

2.24

+0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.84

0.78

+0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.38

0.32

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.20

+0.12

Drawdowns

IXC vs. FENY - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for IXC and FENY.

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Drawdown Indicators

IXCFENYDifference

Max Drawdown

Largest peak-to-trough decline

-67.88%

-74.35%

+6.47%

Max Drawdown (1Y)

Largest decline over 1 year

-9.66%

-11.78%

+2.12%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-21.47%

+2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-24.93%

-26.64%

+1.71%

Max Drawdown (10Y)

Largest decline over 10 years

-64.16%

-69.07%

+4.91%

Current Drawdown

Current decline from peak

-4.84%

-6.35%

+1.51%

Average Drawdown

Average peak-to-trough decline

-17.48%

-23.12%

+5.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

3.99%

-0.79%

Volatility

IXC vs. FENY - Volatility Comparison

The current volatility for iShares Global Energy ETF (IXC) is 7.50%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 7.96%. This indicates that IXC 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

IXCFENYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.50%

7.96%

-0.46%

Volatility (6M)

Calculated over the trailing 6-month period

15.42%

16.33%

-0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

18.75%

20.39%

-1.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.50%

26.46%

-2.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.85%

29.80%

-2.95%

IXC vs. FENY - Expense Ratio Comparison

IXC has a 0.46% expense ratio, which is higher than FENY's 0.08% expense ratio.

Dividends

IXC vs. FENY - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.79%, more than FENY's 2.41% yield.

PositionTTM20252024202320222021202020192018201720162015
FENY
Fidelity MSCI Energy Index ETF		2.41%3.18%3.05%3.33%3.33%3.69%4.60%6.43%3.21%2.94%2.29%3.05%
IXC
iShares Global Energy ETF		2.79%3.68%4.56%3.45%4.76%3.98%4.86%7.00%3.51%3.05%2.86%3.77%

Frequently Asked Questions

With a correlation of 0.97, IXC and FENY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

FENY has higher volatility (7.96%) compared to IXC (7.50%). In terms of maximum drawdown, IXC dropped -67.88% vs FENY's -74.35%.

On 10-year performance, IXC leads with 10.29% vs 9.57% for FENY. On fees, FENY is cheaper at 0.08% per year. On volatility, IXC has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXC has performed better with a 10.29% return vs 9.57%. 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 0.46% for IXC.

IXC has the higher dividend yield at 2.79%, compared with 2.41% for FENY.

IXC tracks S&P Global Energy Sector Index, while FENY tracks MSCI USA IMI Energy Index. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.46% for IXC and 0.08% for FENY.

IXC currently has the higher Sharpe Ratio (2.58 vs 2.24), 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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