MLOZX vs. FNARX

Last updated Apr 1, 2026

Compare and contrast key facts about Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX) and Fidelity Natural Resources Fund (FNARX).

MLOZX is managed by Cohen & Steers. It was launched on Dec 19, 2013. FNARX is managed by Fidelity. It was launched on Mar 3, 1997.

Performance

MLOZX vs. FNARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX) and Fidelity Natural Resources Fund (FNARX). The values are adjusted to include any dividend payments, if applicable.

MLOZX vs. FNARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	27.86%	17.35%	12.16%	10.49%	21.10%	39.09%	-26.70%	12.62%	-13.43%	0.33%
FNARX Fidelity Natural Resources Fund	28.78%	28.67%	3.76%	6.41%	41.01%	39.34%	-20.86%	19.09%	-24.28%	-0.11%

Returns By Period

The year-to-date returns for both investments are quite close, with MLOZX having a 27.86% return and FNARX slightly higher at 28.78%. Over the past 10 years, MLOZX has underperformed FNARX with an annualized return of 11.89%, while FNARX has yielded a comparatively higher 12.63% annualized return.

MLOZX

• 1D: -0.56%
• 1M: 7.55%
• YTD: 27.86%
• 6M: 33.46%
• 1Y: 50.75%
• 3Y*: 22.70%
• 5Y*: 21.24%
• 10Y*: 11.89%

FNARX

• 1D: -0.38%
• 1M: 3.25%
• YTD: 28.78%
• 6M: 33.09%
• 1Y: 51.16%
• 3Y*: 21.69%
• 5Y*: 25.38%
• 10Y*: 12.63%

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

MLOZX vs. FNARX - Expense Ratio Comparison

MLOZX has a 0.90% expense ratio, which is higher than FNARX's 0.82% expense ratio.

MLOZX

Cohen & Steers MLP & Energy Opportunity Fund, Inc.

FNARX

Fidelity Natural Resources Fund

Return for Risk

MLOZX vs. FNARX — Risk / Return Rank

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

MLOZX

MLOZX Risk / Return Rank: 95
MLOZX Sharpe Ratio Rank: 97
MLOZX Sortino Ratio Rank: 95
MLOZX Omega Ratio Rank: 95
MLOZX Calmar Ratio Rank: 94
MLOZX Martin Ratio Rank: 95

FNARX

FNARX Risk / Return Rank: 94
FNARX Sharpe Ratio Rank: 96
FNARX Sortino Ratio Rank: 94
FNARX Omega Ratio Rank: 93
FNARX Calmar Ratio Rank: 94
FNARX Martin Ratio Rank: 96

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.

MLOZX vs. FNARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX) and Fidelity Natural Resources Fund (FNARX). 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.

	MLOZX	FNARX	Difference
Sharpe ratio Return per unit of total volatility	2.59	2.40	+0.19
Sortino ratio Return per unit of downside risk	3.10	2.93	+0.17
Omega ratio Gain probability vs. loss probability	1.51	1.45	+0.06
Calmar ratio Return relative to maximum drawdown	3.05	2.97	+0.07
Martin ratio Return relative to average drawdown	13.54	13.95	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLOZX vs. FNARX - Sharpe Ratio Comparison

The current MLOZX Sharpe Ratio is 2.59, which is comparable to the FNARX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of MLOZX and FNARX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MLOZX	FNARX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.40	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.17	1.01	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.47	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.31	-0.04

Correlation

The correlation between MLOZX and FNARX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MLOZX vs. FNARX - Dividend Comparison

MLOZX's dividend yield for the trailing twelve months is around 1.09%, less than FNARX's 1.47% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLOZX Cohen & Steers MLP & Energy Opportunity Fund, Inc.	1.09%	1.71%	10.24%	4.61%	3.66%	3.08%	6.57%	6.21%	4.44%	3.86%	3.72%	6.05%
FNARX Fidelity Natural Resources Fund	1.47%	1.89%	1.51%	1.60%	2.42%	1.46%	1.79%	1.42%	1.17%	1.38%	0.62%	0.78%

Drawdowns

MLOZX vs. FNARX - Drawdown Comparison

The maximum MLOZX drawdown since its inception was -72.01%, roughly equal to the maximum FNARX drawdown of -71.04%. Use the drawdown chart below to compare losses from any high point for MLOZX and FNARX.

Drawdown Indicators

	MLOZX	FNARX	Difference
Max Drawdown Largest peak-to-trough decline	-72.01%	-71.04%	-0.97%
Max Drawdown (1Y) Largest decline over 1 year	-16.08%	-16.94%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	-29.93%	+9.09%
Max Drawdown (10Y) Largest decline over 10 years	-64.94%	-64.10%	-0.84%
Current Drawdown Current decline from peak	-0.56%	-0.38%	-0.18%
Average Drawdown Average peak-to-trough decline	-20.92%	-20.15%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	3.61%	+0.01%

Volatility

MLOZX vs. FNARX - Volatility Comparison

The current volatility for Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLOZX) is 4.54%, while Fidelity Natural Resources Fund (FNARX) has a volatility of 5.02%. This indicates that MLOZX experiences smaller price fluctuations and is considered to be less risky than FNARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLOZX	FNARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	5.02%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	14.01%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.02%	21.77%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.26%	25.17%	-6.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	27.08%	-2.91%