MBBA vs. FENY

Last updated Jun 5, 2026

MBBA (iShares Mortgage-Backed Securities Active ETF) and FENY (Fidelity MSCI Energy Index ETF) are both exchange-traded funds - MBBA is a Mortgage Backed Securities fund actively managed by iShares, while FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index. MBBA is actively managed, while FENY is passively managed. At a correlation of -0.45, they often move in opposite directions. MBBA charges 0.25%/yr vs 0.08%/yr for FENY.

Performance

MBBA vs. FENY - Performance Comparison

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

Returns By Period

MBBA

• 1D: -0.10%
• 1M: 0.34%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FENY

• 1D: 0.18%
• 1M: -1.83%
• YTD: 32.52%
• 6M: 29.11%
• 1Y: 48.38%
• 3Y*: 18.33%
• 5Y*: 20.52%
• 10Y*: 9.33%

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

MBBA vs. FENY - Yearly Performance Comparison

	2026 (YTD)
MBBA iShares Mortgage-Backed Securities Active ETF	0.54%
FENY Fidelity MSCI Energy Index ETF	20.37%

Correlation

The correlation between MBBA and FENY is -0.45, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 27, 2026	-0.45

Return for Risk

MBBA vs. FENY — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 71
FENY Sharpe Ratio Rank: 75
FENY Sortino Ratio Rank: 67
FENY Omega Ratio Rank: 65
FENY Calmar Ratio Rank: 81
FENY Martin Ratio Rank: 67

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.

MBBA vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage-Backed Securities Active ETF (MBBA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MBBA	FENY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.40	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.20	+0.13

Drawdowns

MBBA vs. FENY - Drawdown Comparison

The maximum MBBA drawdown since its inception was -2.83%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for MBBA and FENY.

Drawdown Indicators

	MBBA	FENY	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-74.35%	+71.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.78%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.47%	—
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	-1.27%	-6.18%	+4.91%
Average Drawdown Average peak-to-trough decline	-1.12%	-23.12%	+22.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.01%	—

Volatility

Volatility by Period

	MBBA	FENY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.64%	20.36%	-15.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	26.46%	-21.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	29.79%	-25.15%

MBBA vs. FENY - Expense Ratio Comparison

MBBA has a 0.25% 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

MBBA vs. FENY - Dividend Comparison

MBBA's dividend yield for the trailing twelve months is around 1.84%, less than FENY's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MBBA iShares Mortgage-Backed Securities Active ETF	1.84%	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

Can I hold both MBBA and FENY in my portfolio?

MBBA and FENY have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MBBA or FENY?

On fees, FENY is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MBBA or FENY?

FENY is cheaper with a 0.08% expense ratio, compared with 0.25% for MBBA.

Which ETF pays a higher dividend yield, MBBA or FENY?

FENY has the higher dividend yield at 2.41%, compared with 1.84% for MBBA.

What is the main difference between MBBA and FENY?

MBBA is categorized as Mortgage Backed Securities, while FENY is Energy Equities. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.25% for MBBA and 0.08% for FENY.