Data as of Oct 28, 2026.
FENI vs GLD: Differences, Returns & Fees
FENI is an actively managed equity fund and GLD a commodity fund, and over the year to Oct 28, 2026, FENI returned +14.2% against +2.5%.
askIQ about this page
askIQ about FENI and GLD
Net assets: $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF, and $135.8bn on Oct 27, 2026 for SPDR Gold Shares.
Pair scorecard
FENI costs 0.12 points a year less; their one-year returns differ by 11.7 points; GLD is 12.3 times larger.
| Measure | FENI | GLD |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +2.5% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | 24.7%, high on Jan 29, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | Gold |
| Cost and size | ||
| Expense ratio | 0.28% | 0.40% |
| Net assets, as of Sep 30, 2026 | $11.5bn | $141.7bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 16.5% | |
Risk and return
Dec 1, 2023 to Oct 23, 2026 · 151 weekly returnsEach against its own benchmark: FENI against EFA, Dec 1, 2023 to Oct 23, 2026; GLD against IAU, Feb 4, 2005 to Oct 23, 2026.
GLD returned more: +90.9% to +68.2%. FENI swung less: 14.5% to 18.9%. FENI fell less at its worst: −11.2% to −24.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FENI | GLD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +68.2% | +90.9% | GLD | Price change plus distributions, reinvested. |
| Annualized | +19.6% | +24.9% | GLD | Total return as a yearly rate. |
| Price return | +54.7% | +90.9% | GLD | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.5% | 18.9% | FENI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.2% | 12.1% | FENI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.2% | −24.2% | FENI | Deepest fall from a high to the low after it. |
| Upside capture | 105.3% | 99.4% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 97.4% | 99.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 1.01 | 1.04 | GLD (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.43 | 1.63 | GLD | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.147 | 0.097 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.75 | 1.03 | FENI | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | EFA | IAU | The ETF each fund is measured against. | |
| Alpha | +3.1% a year | −0.1% a year | GLD not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 2.73 | −0.57 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | +0.9% to +5.4% | −0.4% to +0.2% | GLD includes zero | The 95% range for the yearly alpha. |
| Information ratio | 1.55 | −0.18 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.9% | 0.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 151 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
FENI and GLD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FENI and GLD do different jobs. What does each one do in a portfolio?
- What each follows. FENI follows No index, actively managed and GLD follows Gold.
- One-year total return. Over 1 year to Oct 28, 2026 FENI returned +14.2% and GLD +2.5% with distributions reinvested, a gap of 11.7 points.
- Cost. FENI charges 0.28% of assets a year and GLD 0.40%, a gap of 0.12 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
FENI
FENI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.2% with distributions reinvested, against +12.1% for its benchmark, the MSCI EAFE Index. The prospectus expense ratio is 0.28% a year. By its holdings filed for Jun 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 386 positions, with the top ten at 16.5%. It sat 4.7% below its high of Aug 13, 2026 on Oct 28, 2026.
Its expense ratio is 0.40% a year, for the three months to Jun 30, 2026, as its 10-Q states.
GLD holds gold. Over the year to Oct 28, 2026 it returned +2.5% with distributions reinvested, against +2.7% for its benchmark, the price of gold. It sat 24.7% below its high of Jan 29, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FENI or GLD?
- In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and GLD +2.5%.
- Which is cheaper, FENI or GLD?
- FENI is cheaper, by 0.12 percentage points a year. That is about $12 on $10,000 held for a year. Fees come from each fund's own filings.
Links are sources, not endorsements. A comparison is not a recommendation.
Cite this pageCitation, APA and Markdown
ETFIQ, FENI against GLD, data as of Oct 28, 2026. https://etfiq.com/compare/any/feni-vs-gld
ETFIQ. (Oct 28, 2026). FENI against GLD. Retrieved from https://etfiq.com/compare/any/feni-vs-gld
[FENI against GLD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/feni-vs-gld)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.