Data as of Oct 28, 2026.
FENI vs HYG: Differences, Returns & Fees
Over the year to Oct 28, 2026, FENI returned +14.2% to HYG's +1.3%; 0% of their weight is in the same names.
askIQ about this page
askIQ about FENI and HYG
Net assets: $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF, and $17.5bn on Oct 27, 2026 for iShares iBoxx $ High Yield Corporate Bond ETF.
Pair scorecard
FENI costs 0.21 points a year less; their one-year returns differ by 12.9 points; HYG is 1.5 times larger.
| Measure | FENI | HYG |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +1.3% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | |
| Benchmark | ||
| What it tracks | No index, actively managed | Markit iBoxx USD Liquid High Yield Index |
| Cost and size | ||
| Expense ratio | 0.28% | 0.49% |
| Net assets, as of Sep 30, 2026 | $11.5bn | $16.8bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 0% | |
| Top ten holdings, share of the fund | 16.5% | |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 27, 2026. Method
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; HYG against IUSB, Jun 20, 2014 to Oct 23, 2026.
FENI returned more: +68.2% to +19.9%. HYG swung less: 4.2% to 14.5%. HYG fell less at its worst: −3.3% to −11.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FENI | HYG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +68.2% | +19.9% | FENI | Price change plus distributions, reinvested. |
| Annualized | +19.6% | +6.4% | FENI | Total return as a yearly rate. |
| Price return | +54.7% | +1.4% | FENI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.5% | 4.2% | HYG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.2% | 2.8% | HYG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.2% | −3.3% | HYG | Deepest fall from a high to the low after it. |
| Upside capture | 105.3% | 62.1% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 97.4% | 48.4% | 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 | 0.31 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 1.01 | 0.46 | FENI | Return above Treasury bills per unit of volatility. |
| Sortino | 1.43 | 0.69 | FENI | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.147 | 0.019 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.75 | 1.94 | HYG | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | EFA | IUSB | The ETF each fund is measured against. | |
| Alpha | +3.1% a year | +1.9% a year | HYG not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 2.73 | 0.87 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | +0.9% to +5.4% | −2.4% to +6.1% | HYG includes zero | The 95% range for the yearly alpha. |
| Information ratio | 1.55 | 0.25 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.9% | 7.6% | 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.
What they share
By the books each fund has filed, FENI and HYG hold 0% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
FENI and HYG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
No client brief for this pair: the two funds' holdings are dated 119 days apart.
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.
HYG
HYG tracks an index of US high yield bonds. Over the year to Oct 28, 2026 it returned +1.3% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. Universal Index. The prospectus expense ratio is 0.49% a year.
Questions people ask
- Which returned more over the last year, FENI or HYG?
- In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and HYG +1.3%.
- Which is cheaper, FENI or HYG?
- FENI is cheaper, by 0.21 percentage points a year. That is about $21 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, FENI against HYG, data as of Oct 28, 2026. https://etfiq.com/compare/any/feni-vs-hyg
ETFIQ. (Oct 28, 2026). FENI against HYG. Retrieved from https://etfiq.com/compare/any/feni-vs-hyg
[FENI against HYG (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/feni-vs-hyg)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.