Data as of Oct 28, 2026.
FENI vs MOAT: Differences, Returns & Fees
Over the year to Oct 28, 2026, FENI returned +14.2% to MOAT's +10.3%; 0% of their weight is in the same names.
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Net assets: $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF, and $11.6bn on Oct 27, 2026 for VanEck Morningstar Wide Moat ETF.
Pair scorecard
FENI costs 0.18 points a year less; their one-year returns differ by 3.9 points.
| Measure | FENI | MOAT |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +10.3% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | 3.7%, high on Aug 27, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | Morningstar Wide Moat Focus Index |
| Cost and size | ||
| Expense ratio | 0.28% | 0.46% |
| Net assets, FENI as of Sep 30, 2026 and MOAT as of Oct 27, 2026 | $11.5bn | $11.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 16.5% | 26.5% |
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; MOAT against VOO, May 4, 2012 to Oct 23, 2026.
FENI returned more: +68.2% to +44.3%. FENI swung slightly less: 14.5% to 15.3%. FENI fell less at its worst: −11.2% to −19.0%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FENI | MOAT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +68.2% | +44.3% | FENI | Price change plus distributions, reinvested. |
| Annualized | +19.6% | +13.5% | FENI | Total return as a yearly rate. |
| Price return | +54.7% | +39.3% | FENI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.5% | 15.3% | FENI (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.2% | 10.8% | FENI (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.2% | −19.0% | FENI | Deepest fall from a high to the low after it. |
| Upside capture | 105.3% | 98.2% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 97.4% | 100.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.99 | 0.98 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 0.81 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 1.01 | 0.61 | FENI | Return above Treasury bills per unit of volatility. |
| Sortino | 1.43 | 0.87 | FENI | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.147 | 0.130 | Return above Treasury bills per unit of beta. | |
| Calmar | 1.75 | 0.71 | FENI | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | EFA | VOO | The ETF each fund is measured against. | |
| Alpha | +3.1% a year | −0.1% a year | MOAT not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 2.73 | −0.06 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | +0.9% to +5.4% | −4.0% to +3.8% | MOAT includes zero | The 95% range for the yearly alpha. |
| Information ratio | 1.55 | −0.05 | 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 MOAT 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 MOAT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
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.
MOAT
MOAT tracks the Morningstar Wide Moat. Over the year to Oct 28, 2026 it returned +10.3% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.46% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 54 positions, with the top ten at 26.5%. It sat 3.7% below its high of Aug 27, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FENI or MOAT?
- In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and MOAT +10.3%.
- Which is cheaper, FENI or MOAT?
- FENI is cheaper, by 0.18 percentage points a year. That is about $18 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.
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ETFIQ, FENI against MOAT, data as of Oct 28, 2026. https://etfiq.com/compare/any/feni-vs-moat
ETFIQ. (Oct 28, 2026). FENI against MOAT. Retrieved from https://etfiq.com/compare/any/feni-vs-moat
[FENI against MOAT (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/feni-vs-moat)
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