XDEF vs. FENY

Last updated Jun 4, 2026

XDEF (Xtrackers Europe Defense Technologies ETF) and FENY (Fidelity MSCI Energy Index ETF) are both exchange-traded funds - XDEF is a Aerospace & Defense fund tracking the STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index, while FENY is a Energy Equities fund tracking the MSCI USA IMI Energy Index. Both are passively managed. At a correlation of -0.31, they often move in opposite directions. XDEF charges 0.35%/yr vs 0.08%/yr for FENY.

Performance

XDEF vs. FENY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Defense Technologies ETF (XDEF) and Fidelity MSCI Energy Index ETF (FENY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XDEF

• 1D: -2.06%
• 1M: -2.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FENY

• 1D: 1.12%
• 1M: -2.02%
• YTD: 32.28%
• 6M: 29.37%
• 1Y: 45.42%
• 3Y*: 17.98%
• 5Y*: 20.48%
• 10Y*: 9.57%

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

XDEF vs. FENY - Yearly Performance Comparison

	2026 (YTD)
XDEF Xtrackers Europe Defense Technologies ETF	-99.17%
FENY Fidelity MSCI Energy Index ETF	29.51%

Correlation

The correlation between XDEF and FENY is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 5, 2026	-0.31

Return for Risk

XDEF vs. FENY — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 64
FENY Sharpe Ratio Rank: 66
FENY Sortino Ratio Rank: 60
FENY Omega Ratio Rank: 57
FENY Calmar Ratio Rank: 75
FENY Martin Ratio Rank: 62

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.

XDEF vs. FENY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Defense Technologies ETF (XDEF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XDEF	FENY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.78	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	0.20	-0.84

Drawdowns

XDEF vs. FENY - Drawdown Comparison

The maximum XDEF drawdown since its inception was -99.30%, which is greater than FENY's maximum drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for XDEF and FENY.

Drawdown Indicators

	XDEF	FENY	Difference
Max Drawdown Largest peak-to-trough decline	-99.30%	-74.35%	-24.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.78%	—
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	-99.26%	-6.35%	-92.91%
Average Drawdown Average peak-to-trough decline	-70.45%	-23.12%	-47.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.99%	—

Volatility

Volatility by Period

	XDEF	FENY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	157.63%	20.39%	+137.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	157.63%	26.46%	+131.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	157.63%	29.80%	+127.83%

XDEF vs. FENY - Expense Ratio Comparison

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

Dividends

XDEF vs. FENY - Dividend Comparison

XDEF has not paid dividends to shareholders, while FENY's dividend yield for the trailing twelve months is around 2.41%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.41%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
XDEF Xtrackers Europe Defense Technologies ETF	0.00%	0.00%	0.00%	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 XDEF and FENY in my portfolio?

XDEF and FENY have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDEF or FENY?

On fees, FENY is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDEF or FENY?

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

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

FENY has the higher dividend yield at 2.41%, compared with 0.00% for XDEF.

What is the main difference between XDEF and FENY?

XDEF is categorized as Aerospace & Defense, while FENY is Energy Equities. XDEF tracks STOXX Europe Total Market Defence, Space and Cybersecurity Innovation 50-25 Index, while FENY tracks MSCI USA IMI Energy Index. They also come from different issuers: Xtrackers and Fidelity. Their fees differ too: 0.35% for XDEF and 0.08% for FENY.