MDT vs. FRNW
MDT (Medtronic plc) is a stock, while FRNW (Fidelity Clean Energy ETF) is Alternative Energy Equities fund actively managed by Fidelity. Over the past 3 years, MDT returned 2.07%/yr vs 3.53%/yr for FRNW. At a 0.26 correlation, their price movements are largely independent.
Performance
MDT vs. FRNW - Performance Comparison
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Returns By Period
In the year-to-date period, MDT achieves a -11.51% return, which is significantly lower than FRNW's 13.37% return.
MDT
- 1D
- 3.84%
- 1M
- 3.68%
- 6M
- -14.14%
- YTD
- -11.51%
- 1Y
- -3.90%
- 3Y*
- 2.07%
- 5Y*
- -4.92%
- 10Y*
- 2.14%
FRNW
- 1D
- -2.22%
- 1M
- -7.03%
- 6M
- 6.55%
- YTD
- 13.37%
- 1Y
- 40.18%
- 3Y*
- 3.53%
- 5Y*
- —
- 10Y*
- —
MDT vs. FRNW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDT Medtronic plc | -11.51% | 24.05% | 0.28% | 9.58% | -22.55% | -17.43% |
FRNW Fidelity Clean Energy ETF | 13.37% | 53.20% | -21.11% | -19.64% | -11.46% | -2.52% |
Correlation
The correlation between MDT and FRNW is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.26 |
The correlation between MDT and FRNW shifts across timeframes, from -0.01 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MDT vs. FRNW — Risk / Return Rank
MDT
FRNW
MDT vs. FRNW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Medtronic plc (MDT) and Fidelity Clean Energy ETF (FRNW). 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.
| MDT | FRNW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.24 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 2.30 | -2.43 |
| Martin ratioReturn relative to average drawdown | -0.30 | 7.09 | -7.38 |
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Drawdowns
MDT vs. FRNW - Drawdown Comparison
The maximum MDT drawdown since its inception was -57.63%, roughly equal to the maximum FRNW drawdown of -59.37%. Use the drawdown chart below to compare losses from any high point for MDT and FRNW.
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Drawdown Indicators
| MDT | FRNW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.63% | -59.37% | +1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -28.90% | -17.58% | -11.32% |
Max Drawdown (3Y)Largest decline over 3 years | -28.90% | -45.14% | +16.24% |
Max Drawdown (5Y)Largest decline over 5 years | -45.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.10% | — | — |
Current DrawdownCurrent decline from peak | -27.70% | -18.13% | -9.57% |
Average DrawdownAverage peak-to-trough decline | -16.57% | -32.83% | +16.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.14% | 5.68% | +7.46% |
Volatility
MDT vs. FRNW - Volatility Comparison
Medtronic plc (MDT) has a higher volatility of 10.96% compared to Fidelity Clean Energy ETF (FRNW) at 9.10%. This indicates that MDT's price experiences larger fluctuations and is considered to be riskier than FRNW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDT | FRNW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.96% | 9.10% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 19.07% | 20.51% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.30% | 27.37% | -4.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.39% | 28.56% | -6.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.44% | 28.56% | -5.12% |
Dividends
MDT vs. FRNW - Dividend Comparison
MDT's dividend yield for the trailing twelve months is around 3.41%, more than FRNW's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRNW Fidelity Clean Energy ETF | 1.21% | 1.25% | 1.43% | 1.30% | 0.69% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDT Medtronic plc | 3.41% | 2.95% | 3.49% | 3.34% | 3.44% | 2.39% | 1.95% | 1.87% | 2.15% | 2.24% | 2.34% | 1.88% |
Frequently Asked Questions
MDT and FRNW have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDT has higher volatility (10.96%) compared to FRNW (9.10%). In terms of maximum drawdown, MDT dropped -57.63% vs FRNW's -59.37%.
FRNW currently has the higher Sharpe Ratio (1.48 vs -0.17), 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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