Data as of Oct 28, 2026.
FENI vs VEA: Differences, Returns & Fees
Over the year to Oct 28, 2026, FENI returned +14.2% to VEA's +17.1%; 38% of their weight is in the same names.
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Net assets on Sep 30, 2026: $11.5bn for Fidelity Enhanced International ETF and $231.6bn for Vanguard FTSE Developed Markets ETF.
Pair scorecard
VEA costs 0.25 points a year less; their one-year returns differ by 2.9 points; VEA is far larger, $231.6bn against $11.5bn.
| Measure | FENI | VEA |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +17.1% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | 4.4%, high on Aug 25, 2026 |
| Benchmark | ||
| What it tracks | No index, actively managed | FTSE Developed All Cap ex US Index |
| Cost and size | ||
| Expense ratio | 0.28% | 0.03% |
| Net assets, as of Sep 30, 2026 | $11.5bn | $231.6bn |
| Holdings | ||
| Holdings in common | 38% | |
| Top ten holdings, share of the fund | 16.5% | 13.6% |
Holdings in common uses holdings dated Jun 30, 2026 and Sep 30, 2026. Method
Risk and return
Dec 1, 2023 to Oct 23, 2026 · 151 weekly returnsFENI returned slightly more: +68.2% to +62.6%. FENI and VEA swung about the same: 14.5% and 14.6%. FENI fell slightly less at its worst: −11.2% to −11.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FENI | VEA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +68.2% | +62.6% | FENI (slight) | Price change plus distributions, reinvested. |
| Annualized | +19.6% | +18.2% | FENI (slight) | Total return as a yearly rate. |
| Price return | +54.7% | +48.7% | FENI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.5% | 14.6% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.2% | 10.3% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.2% | −11.5% | FENI (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.01 | 0.92 | FENI (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.43 | 1.31 | FENI (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.75 | 1.58 | FENI (slight) | Annualized return divided by the max drawdown. |
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 VEA hold 38% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Sep 30, 2026.
half
38% in common
Only in one fund ↓
Side by side
FENI and VEA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FENI and VEA are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FENI follows No index, actively managed and VEA follows FTSE Developed All Cap ex US Index.
- Holdings in common. 38% of the weight is in the same securities (holdings dated Jun 30, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FENI returned +14.2% and VEA +17.1% with distributions reinvested, a gap of 2.9 points.
Data as of Oct 28, 2026.
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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.
VEA
VEA tracks an index of Developed markets ex US. Over the year to Oct 28, 2026 it returned +17.1% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 3,906 positions, with the top ten at 13.6%. It sat 4.4% below its high of Aug 25, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FENI or VEA?
- In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and VEA +17.1%.
- Which is cheaper, FENI or VEA?
- VEA is cheaper, by 0.25 percentage points a year. That is about $25 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 VEA, data as of Oct 28, 2026. https://etfiq.com/compare/any/feni-vs-vea
ETFIQ. (Oct 28, 2026). FENI against VEA. Retrieved from https://etfiq.com/compare/any/feni-vs-vea
[FENI against VEA (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/feni-vs-vea)
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