Data as of Oct 28, 2026.
FENI vs XBI: Differences, Returns & Fees
Over the year to Oct 28, 2026, FENI returned +14.2% to XBI's +41.2%, and FENI charges 0.28% to XBI's 0.35%.
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Net assets: $11.5bn on Sep 30, 2026 for Fidelity Enhanced International ETF, and $10.3bn on Oct 27, 2026 for State Street SPDR S&P Biotech ETF.
Pair scorecard
FENI costs 0.07 points a year less; their one-year returns differ by 27.0 points; FENI is 1.1 times larger.
| Measure | FENI | XBI |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +41.2% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 13, 2026 | |
| Below its all-time high | 8.9%, high on Feb 8, 2021 | |
| Benchmark | ||
| What it tracks | No index, actively managed | Biotech |
| Cost and size | ||
| Expense ratio | 0.28% | 0.35% |
| Net assets, as of Sep 30, 2026 | $11.5bn | $10.4bn |
| Active share vs the S&P 500 | 98% | |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 16.5% | 18% |
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 returnsXBI returned more: +93.3% to +68.2%. FENI swung less: 14.5% to 26.3%. FENI fell less at its worst: −11.2% to −29.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FENI | XBI | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +68.2% | +93.3% | XBI | Price change plus distributions, reinvested. |
| Annualized | +19.6% | +25.5% | XBI | Total return as a yearly rate. |
| Price return | +54.7% | +92.1% | XBI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 14.5% | 26.3% | FENI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.2% | 17.3% | FENI | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −11.2% | −29.3% | FENI | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.01 | 0.83 | FENI | Return above Treasury bills per unit of volatility. |
| Sortino | 1.43 | 1.26 | FENI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.75 | 0.87 | FENI | 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 XBI 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 XBI 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.
XBI
By weight, 13% of XBI's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 18% of the fund across 165 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +41.2% with distributions reinvested. It sits 8.9% below its all-time high of Feb 8, 2021.
Questions people ask
- Are FENI and XBI in the same category?
- FENI is a stock ETF and XBI is a thematic ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, FENI or XBI?
- In the year to Oct 28, 2026, with distributions reinvested, FENI returned +14.2% and XBI +41.2%.
- Which is cheaper, FENI or XBI?
- FENI is cheaper, by 0.07 percentage points a year. That is about $7 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 XBI, data as of Oct 28, 2026. https://etfiq.com/compare/any/feni-vs-xbi
ETFIQ. (Oct 28, 2026). FENI against XBI. Retrieved from https://etfiq.com/compare/any/feni-vs-xbi
[FENI against XBI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/feni-vs-xbi)
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