FENI vs IVV
Fidelity Enhanced International ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. FENI delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FENI | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.28% | 0.03% | |
| AUM | $11.0B | $907.0B | |
| Dividend Yield | 2.89% | 1.10% | |
| Holdings | 406 | 508 | |
| YTD Return | +14.52% | +12.71% | |
| 1Y Return | +25.14% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 11.5% | 15.1% | |
| Max Drawdown | -14.2% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Nov 20, 2023 | May 15, 2000 |
FENI vs IVV Performance
Fidelity Enhanced International ETF (FENI) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FENI returned +25.14% while IVV returned +21.89%. Year to date, FENI is up 14.52% versus a gain of 12.71% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 11.5% for FENI. 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 -14.2% for FENI and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FENI charges 0.28% per year while IVV charges 0.03%. On a $10,000 position that is $28 vs $3 annually, a gap of $25 per year that compounds over a long holding period. On income, FENI currently yields 2.89% against 1.10% for IVV.
Holdings Overlap
FENI and IVV share 0 holdings out of 907 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FENI or IVV?
FENI has an expense ratio of 0.28% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $25 per year of difference.
Which performed better, FENI or IVV?
Over the past year FENI returned +25.14% vs +21.89% for IVV, so FENI leads on 1-year performance. Over the longest common window we track (3 years), FENI annualized +23.64% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, FENI or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 11.5% for FENI. Worst drawdown: FENI -14.2% vs IVV -56.5%.
Should I hold both FENI and IVV?
FENI and IVV have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FENI and IVV?
FENI and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 907 unique securities.
Which pays a higher dividend, FENI or IVV?
FENI yields 2.89% while IVV yields 1.10%, so FENI currently pays the higher dividend yield.
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