VENAX vs. FSENX

Last updated Aug 2, 2026

VENAX (Vanguard Energy Index Fund Admiral Shares) and FSENX (Fidelity Select Energy Portfolio) are both Energy Equities funds. Over the past 10 years, VENAX returned 10.01%/yr vs 10.35%/yr for FSENX. Their 0.98 correlation means they have historically moved very closely together. VENAX charges 0.10%/yr vs 0.77%/yr for FSENX.

Performance

VENAX vs. FSENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy Index Fund Admiral Shares (VENAX) and Fidelity Select Energy Portfolio (FSENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VENAX achieves a 33.62% return, which is significantly lower than FSENX's 38.84% return. Both investments have delivered pretty close results over the past 10 years, with VENAX having a 10.01% annualized return and FSENX not far ahead at 10.35%.

VENAX

• 1D: 0.72%
• 1M: 10.41%
• 6M: 17.04%
• YTD: 33.62%
• 1Y: 42.35%
• 3Y*: 14.21%
• 5Y*: 23.30%
• 10Y*: 10.01%
• ALL TIME*: 8.26%

FSENX

• 1D: 0.94%
• 1M: 10.59%
• 6M: 21.09%
• YTD: 38.84%
• 1Y: 49.26%
• 3Y*: 15.92%
• 5Y*: 25.52%
• 10Y*: 10.35%
• ALL TIME*: 8.27%

*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)
FSENX Fidelity Select Energy Portfolio	$0.00	$0.00	$0.00
VENAX Vanguard Energy Index Fund Admiral Shares	$0.00	$0.00	$0.00

VENAX vs. FSENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VENAX Vanguard Energy Index Fund Admiral Shares	33.62%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%
FSENX Fidelity Select Energy Portfolio	38.84%	10.56%	4.26%	0.94%	62.98%	55.31%	-32.51%	9.90%	-24.94%	-2.65%

Correlation

The correlation between VENAX and FSENX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.98

The correlation between VENAX and FSENX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

VENAX vs. FSENX — Risk / Return Rank

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

VENAX

VENAX Risk / Return Rank: 72
VENAX Sharpe Ratio Rank: 80
VENAX Sortino Ratio Rank: 73
VENAX Omega Ratio Rank: 71
VENAX Calmar Ratio Rank: 80
VENAX Martin Ratio Rank: 53

FSENX

FSENX Risk / Return Rank: 87
FSENX Sharpe Ratio Rank: 91
FSENX Sortino Ratio Rank: 84
FSENX Omega Ratio Rank: 81
FSENX Calmar Ratio Rank: 93
FSENX Martin Ratio Rank: 84

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.

VENAX vs. FSENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Index Fund Admiral Shares (VENAX) and Fidelity Select Energy Portfolio (FSENX). 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.

	VENAX	FSENX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.30	-0.43
Sortino ratio: Return per unit of downside risk	2.43	2.94	-0.51
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.60	3.78	-1.18
Martin ratio: Return relative to average drawdown	6.99	10.32	-3.33

VENAX vs. FSENX - Sharpe Ratio Comparison

The current VENAX Sharpe Ratio is 1.87, which is comparable to the FSENX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VENAX and FSENX, 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

VENAX vs. FSENX - Drawdown Comparison

The maximum VENAX drawdown since its inception was -74.42%, roughly equal to the maximum FSENX drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for VENAX and FSENX.

Drawdown Indicators

	VENAX	FSENX	Difference
Max Drawdown Largest peak-to-trough decline	-74.42%	-76.24%	+1.82%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-12.22%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-25.85%	+4.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.59%	-28.02%	+1.43%
Max Drawdown (10Y) Largest decline over 10 years	-69.58%	-72.11%	+2.53%
Current Drawdown Current decline from peak	-5.47%	-2.41%	-3.06%
Average Drawdown Average peak-to-trough decline	-19.91%	-16.98%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	4.48%	+1.12%

Volatility

VENAX vs. FSENX - Volatility Comparison

Vanguard Energy Index Fund Admiral Shares (VENAX) and Fidelity Select Energy Portfolio (FSENX) have volatilities of 6.12% and 5.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VENAX	FSENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	5.86%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	16.67%	15.87%	+0.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.99%	20.16%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.17%	27.01%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.22%	30.84%	-0.62%

VENAX vs. FSENX - Expense Ratio Comparison

VENAX has a 0.10% expense ratio, which is lower than FSENX's 0.77% expense ratio.

Dividends

VENAX vs. FSENX - Dividend Comparison

VENAX's dividend yield for the trailing twelve months is around 2.42%, more than FSENX's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSENX Fidelity Select Energy Portfolio	1.54%	1.95%	1.95%	1.98%	2.50%	2.25%	3.43%	1.84%	1.48%	1.74%	0.62%	1.29%
VENAX Vanguard Energy Index Fund Admiral Shares	2.42%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both VENAX and FSENX in my portfolio?

With a correlation of 0.98, VENAX and FSENX 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, VENAX or FSENX?

VENAX has higher volatility (6.12%) compared to FSENX (5.86%). In terms of maximum drawdown, VENAX dropped -74.42% vs FSENX's -76.24%.

Which has better risk-adjusted returns?

FSENX currently has the higher Sharpe Ratio (2.30 vs 1.87), 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.