WEEI vs. FENY

Last updated Jun 3, 2026

WEEI (Westwood Salient Enhanced Energy Income ETF) and FENY (Fidelity MSCI Energy Index ETF) are both Energy Equities funds. WEEI is actively managed, while FENY is passively managed. Over the past year, WEEI returned 34.41% vs 45.77% for FENY. With a 0.96 correlation, they move nearly in lockstep. WEEI charges 0.85%/yr vs 0.08%/yr for FENY.

Performance

WEEI vs. FENY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Salient Enhanced Energy Income ETF (WEEI) and Fidelity MSCI Energy Index ETF (FENY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEEI achieves a 18.06% return, which is significantly lower than FENY's 30.82% return.

WEEI

• 1D: 1.14%
• 1M: 0.38%
• YTD: 18.06%
• 6M: 19.01%
• 1Y: 34.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FENY

• 1D: 1.19%
• 1M: -2.13%
• YTD: 30.82%
• 6M: 30.66%
• 1Y: 45.77%
• 3Y*: 17.54%
• 5Y*: 20.36%
• 10Y*: 9.44%

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

WEEI vs. FENY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WEEI Westwood Salient Enhanced Energy Income ETF	18.06%	11.28%	-3.07%
FENY Fidelity MSCI Energy Index ETF	30.82%	7.27%	-3.24%

Correlation

The correlation between WEEI and FENY is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 2, 2024	0.96

The correlation between WEEI and FENY has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

WEEI vs. FENY - Sectors Allocation Comparison

Sectors	WEEI	FENY
Energy	100.0%	99.7%
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.1%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

WEEI vs. FENY — Risk / Return Rank

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

WEEI

WEEI Risk / Return Rank: 75
WEEI Sharpe Ratio Rank: 74
WEEI Sortino Ratio Rank: 68
WEEI Omega Ratio Rank: 69
WEEI Calmar Ratio Rank: 85
WEEI Martin Ratio Rank: 77

FENY

FENY Risk / Return Rank: 66
FENY Sharpe Ratio Rank: 68
FENY Sortino Ratio Rank: 61
FENY Omega Ratio Rank: 59
FENY Calmar Ratio Rank: 78
FENY Martin Ratio Rank: 65

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.

WEEI vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Salient Enhanced Energy Income ETF (WEEI) 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.

	WEEI	FENY	Difference
Sharpe ratio Return per unit of total volatility	2.48	2.26	+0.22
Sortino ratio Return per unit of downside risk	3.17	2.89	+0.28
Omega ratio Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio Return relative to maximum drawdown	4.72	4.04	+0.68
Martin ratio Return relative to average drawdown	15.10	11.99	+3.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WEEI vs. FENY - Sharpe Ratio Comparison

The current WEEI Sharpe Ratio is 2.48, which is comparable to the FENY Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of WEEI 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.

Sharpe Ratios by Period

	WEEI	FENY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.26	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.19	+0.48

Drawdowns

WEEI vs. FENY - Drawdown Comparison

The maximum WEEI drawdown since its inception was -18.78%, smaller than the maximum FENY drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for WEEI and FENY.

Drawdown Indicators

	WEEI	FENY	Difference
Max Drawdown Largest peak-to-trough decline	-18.78%	-74.35%	+55.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-11.78%	+4.11%
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	-3.40%	-7.39%	+3.99%
Average Drawdown Average peak-to-trough decline	-4.17%	-23.13%	+18.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	3.97%	-1.57%

Volatility

WEEI vs. FENY - Volatility Comparison

The current volatility for Westwood Salient Enhanced Energy Income ETF (WEEI) is 6.20%, while Fidelity MSCI Energy Index ETF (FENY) has a volatility of 7.94%. This indicates that WEEI experiences smaller price fluctuations and is considered to be less risky than FENY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEEI	FENY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	7.94%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	16.32%	-5.58%
Volatility (1Y) Calculated over the trailing 1-year period	14.01%	20.40%	-6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	26.46%	-8.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	29.80%	-11.49%

WEEI vs. FENY - Expense Ratio Comparison

WEEI has a 0.85% expense ratio, which is higher than FENY's 0.08% expense ratio.

Dividends

WEEI vs. FENY - Dividend Comparison

WEEI's dividend yield for the trailing twelve months is around 11.30%, more than FENY's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.44%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
WEEI Westwood Salient Enhanced Energy Income ETF	11.30%	12.59%	7.20%	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 WEEI and FENY in my portfolio?

With a correlation of 0.95, WEEI 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, WEEI or FENY?

FENY has higher volatility (7.94%) compared to WEEI (6.20%). In terms of maximum drawdown, WEEI dropped -18.78% vs FENY's -74.35%.

Which ETF is better, WEEI or FENY?

On 1-year performance, FENY leads with 45.77% vs 34.41% for WEEI. On fees, FENY is cheaper at 0.08% per year. On volatility, WEEI has been the lower-risk option at 6.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEEI or FENY?

Over the 1-year period, FENY has performed better with a 45.77% return vs 34.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEEI or FENY?

FENY is cheaper with a 0.08% expense ratio, compared with 0.85% for WEEI.

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

WEEI has the higher dividend yield at 11.30%, compared with 2.44% for FENY.

What is the main difference between WEEI and FENY?

They also come from different issuers: Westwood and Fidelity. Their fees differ too: 0.85% for WEEI and 0.08% for FENY.

Which has better risk-adjusted returns?

WEEI currently has the higher Sharpe Ratio (2.48 vs 2.26), 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.