FRNW vs SPY
Fidelity Clean Energy ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FRNW or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FRNW is less concentrated, with 37.3% 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 | FRNW | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $91M | $823.2B |
| Dividend Yield | 1.15% | 0.99% |
| Holdings | 98 | 1,515 |
| YTD Return | -4.24% | +13.53%Best |
| 1Y Return | -4.33% | +17.47%Best |
| 3Y Return (annualized) | +11.20% | +22.36%Best |
| 5Y Return (annualized) | -4.48% | +13.21%Best |
| Volatility (annualized) | 28.8% | 15.4%Best |
| Max Drawdown | -59.4% | -24.5%Best |
| $10,000 over 5 years | $7,952 | $18,596Best |
| Top 10 Weight | 37.3%Best | 38.2% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Oct 5, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 7, 2021 to Oct 14, 2026 (5 years).
FRNW 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 5 years both funds cover.
FRNW vs SPY Performance
Fidelity Clean Energy ETF (FRNW) 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 FRNW returned -4.33% while SPY returned +17.47%. Year to date, FRNW is down 4.24% versus a gain of 13.53% for SPY.
Over three years, FRNW compounded at +11.20% per year against +22.36% for SPY; over five years the annualized figures are -4.48% and +13.21% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FRNW has been the more volatile fund, with annualized monthly volatility of 28.8% compared with 15.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.4% for FRNW and -24.5% 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 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FRNW charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, FRNW currently yields 1.15% against 0.99% for SPY.
Holdings Overlap
8.9% of FRNW's money is in holdings SPY also owns. 0.4% of SPY's money is in holdings FRNW also owns.
FRNW and SPY share little of their money.
2 positions in common, counted across the 51 positions we hold weights for in FRNW and 504 in SPY, against full books of 98 and 1,515.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for FRNW (98.7% of the fund), and 16 for FRNW that do not appear in SPY (31.5%).
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 FRNW 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, FRNW or SPY?
FRNW has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, FRNW or SPY?
Over the past year FRNW returned -4.33% 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, FRNW or SPY?
FRNW has been the more volatile fund at 28.8% annualized versus 15.4% for SPY. Worst drawdown: FRNW -59.4% vs SPY -24.5%.
Should I hold both FRNW and SPY?
FRNW and SPY have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FRNW and SPY?
8.9% of FRNW's money is in holdings SPY also owns. 0.4% of SPY's is in holdings FRNW also owns. They hold 2 positions in common, counted across the 51 positions we hold weights for in FRNW and 504 in SPY.
Which pays a higher dividend, FRNW or SPY?
FRNW yields 1.15% while SPY yields 0.99%, so FRNW currently pays the higher dividend yield.
Is SPY better than FRNW?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FRNW is less concentrated, with 37.3% 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.