FENI vs SPY
Fidelity Enhanced International ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FENI or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. FENI is less concentrated, with 15.8% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FENI | SPY |
|---|---|---|
| Expense Ratio | 0.28% | 0.09%Best |
| AUM | $11.5B | $823.2B |
| Dividend Yield | 3.05% | 0.99% |
| Holdings | 883 | 1,515 |
| YTD Return | +8.98% | +13.53%Best |
| 1Y Return | +15.83% | +17.47%Best |
| 3Y Return (annualized) | +20.24% | +22.36%Best |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 11.6%Tie | 11.6%Tie |
| Max Drawdown | -14.2%Best | -18.8% |
| $10,000 over 2.9 years | $17,066 | $17,569Best |
| Top 10 Weight | 15.8%Best | 38.2% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 20, 2023 to Oct 14, 2026 (2.9 years).
FENI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
FENI vs SPY Performance
Fidelity Enhanced International ETF (FENI) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FENI returned +15.83% while SPY returned +17.47%. Year to date, FENI is up 8.98% versus a gain of 13.53% for SPY.
Over three years, FENI compounded at +20.24% per year against +22.36% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FENI and SPY have been equally volatile, both at 11.6% annualized.
The deepest peak-to-trough decline in our data was -14.2% for FENI and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FENI charges 0.28% per year while SPY charges 0.09%. On a $10,000 position that is $28 vs $9 annually, a gap of $19 per year that compounds over a long holding period. On income, FENI currently yields 3.05% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 423 holdings in FENI and 504 in SPY, totalling 97.7% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 423 positions we hold weights for in FENI and 504 in SPY, against full books of 883 and 1,515.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for FENI (99.1% of the fund), and 5 for FENI that do not appear in SPY (1.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of FENI and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FENI or SPY?
FENI has an expense ratio of 0.28% while SPY charges 0.09%. SPY is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, FENI or SPY?
Over the past year FENI returned +15.83% vs +17.47% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FENI or SPY?
FENI and SPY have been equally volatile, both at 11.6% annualized. Worst drawdown: FENI -14.2% vs SPY -18.8%.
Should I hold both FENI and SPY?
FENI and SPY have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FENI or SPY?
FENI yields 3.05% while SPY yields 0.99%, so FENI currently pays the higher dividend yield.
Is SPY better than FENI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. FENI is less concentrated, with 15.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.