OILT vs. FENY

Last updated Aug 4, 2026

OILT (Texas Capital Texas Oil Index ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds - OILT tracks the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross while FENY tracks the MSCI USA IMI Energy 25/50 Index. Both are passively managed. Over the past year, OILT returned 39.44% vs 42.08% for FENY. Their correlation of 0.93 means they have usually moved in the same direction. OILT charges 0.35%/yr vs 0.08%/yr for FENY.

Performance

OILT vs. FENY - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with OILT having a 32.57% return and FENY slightly higher at 33.41%.

OILT

• 1D: -1.19%
• 1M: 11.62%
• 6M: 22.18%
• YTD: 32.57%
• 1Y: 39.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.38%

FENY

• 1D: -1.27%
• 1M: 10.16%
• 6M: 19.12%
• YTD: 33.41%
• 1Y: 42.08%
• 3Y*: 14.32%
• 5Y*: 23.89%
• 10Y*: 9.51%
• ALL TIME*: 5.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FENY Fidelity MSCI Energy Index ETF	$46.38M	$43.19M	$52.93M
OILT Texas Capital Texas Oil Index ETF	$83.88K	$70.55K	$86.53K

OILT vs. FENY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILT Texas Capital Texas Oil Index ETF	32.57%	-3.30%	0.87%	0.13%
FENY Fidelity MSCI Energy Index ETF	33.41%	7.27%	6.62%	-0.56%

Correlation

The correlation between OILT and FENY is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Dec 21, 2023	0.93

The correlation between OILT and FENY has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

OILT vs. FENY - Sectors Allocation Comparison

Sectors	OILT	FENY
Energy	93.7%	99.6%
Utilities	6.3%	0.1%
Basic Materials	-	0.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	-

Return for Risk

OILT vs. FENY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OILT

OILT Risk / Return Rank: 50
OILT Sharpe Ratio Rank: 55
OILT Sortino Ratio Rank: 52
OILT Omega Ratio Rank: 49
OILT Calmar Ratio Rank: 51
OILT Martin Ratio Rank: 43

FENY

FENY Risk / Return Rank: 76
FENY Sharpe Ratio Rank: 85
FENY Sortino Ratio Rank: 79
FENY Omega Ratio Rank: 77
FENY Calmar Ratio Rank: 78
FENY Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OILT vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Oil Index ETF (OILT) 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.

	OILT	FENY	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.03	-0.61
Sortino ratio: Return per unit of downside risk	1.94	2.61	-0.67
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	1.91	2.83	-0.91
Martin ratio: Return relative to average drawdown	4.95	7.61	-2.66

OILT vs. FENY - Sharpe Ratio Comparison

The current OILT Sharpe Ratio is 1.42, which is lower than the FENY Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of OILT 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.

Drawdowns

OILT vs. FENY - Drawdown Comparison

The maximum OILT drawdown since its inception was -35.21%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for OILT and FENY.

Drawdown Indicators

	OILT	FENY	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-74.35%	+39.14%
Max Drawdown (1Y) Largest decline over 1 year	-20.72%	-14.96%	-5.76%
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	-10.53%	-5.56%	-4.97%
Average Drawdown Average peak-to-trough decline	-13.01%	-22.94%	+9.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.99%	5.54%	+2.45%

Volatility

OILT vs. FENY - Volatility Comparison

Texas Capital Texas Oil Index ETF (OILT) has a higher volatility of 8.63% compared to Fidelity MSCI Energy Index ETF (FENY) at 6.23%. This indicates that OILT's price experiences larger fluctuations and is considered to be riskier than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILT	FENY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.63%	6.23%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	21.78%	16.66%	+5.12%
Volatility (1Y) Calculated over the trailing 1-year period	28.02%	20.91%	+7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.72%	26.20%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.72%	29.78%	-1.06%

OILT vs. FENY - Expense Ratio Comparison

OILT has a 0.35% expense ratio, which is higher than FENY's 0.08% expense ratio.

Dividends

OILT vs. FENY - Dividend Comparison

OILT's dividend yield for the trailing twelve months is around 2.58%, more than FENY's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.38%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
OILT Texas Capital Texas Oil Index ETF	2.58%	3.12%	2.63%	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 OILT and FENY in my portfolio?

With a correlation of 0.92, OILT 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.

Which is riskier, OILT or FENY?

OILT has higher volatility (8.63%) compared to FENY (6.23%). In terms of maximum drawdown, OILT dropped -35.21% vs FENY's -74.35%.

Which ETF is better, OILT or FENY?

On 1-year performance, FENY leads with 42.08% vs 39.44% for OILT. On fees, FENY is cheaper at 0.08% per year. On volatility, FENY has been the lower-risk option at 6.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILT or FENY?

Over the 1-year period, FENY has performed better with a 42.08% return vs 39.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILT or FENY?

FENY is cheaper with a 0.08% expense ratio, compared with 0.35% for OILT.

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

OILT has the higher dividend yield at 2.58%, compared with 2.38% for FENY.

What is the main difference between OILT and FENY?

OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while FENY tracks MSCI USA IMI Energy 25/50 Index. They also come from different issuers: Texas Capital and Fidelity. Their fees differ too: 0.35% for OILT and 0.08% for FENY.

Which has better risk-adjusted returns?

FENY currently has the higher Sharpe Ratio (2.03 vs 1.42), 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.