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Launched

Fidelity Enhanced International ETF

FENINYSE ArcaFidelityB

$39.65+0.04 (+0.10%)

At close: Nov 2, 2026, 4:00 PM ET

B65/ 100

Rank 9 of 30 in International Multifactor

B65/100Rank 9 of 30inInternational Multifactor
Intraday session: up, 79 prints from 39.61 to 39.65. Range 39.62 to 39.88. Use the arrow keys to read each point.39.7039.7539.8039.8539.9010 AM12 PM2 PM4 PM
Expense ratio
0.28%
Fund size
$11.5B
1Y total return
+14.8%
Yield · Last 12 months
3.07%
Holdings
447
Avg volume · 30D
1.31M sh
52W range
low $34.36high $42.09
Launched

The ETF.net FENI Grade

Based on 5 of 6 pillars

B

Score 65 out of 100

Category
International Multifactor⁠
Rank
9 of 30
Six-pillar profile for FENI. Scores out of 100: Cost 67, Risk 44, Mission not scored, Tradability 88, Holdings 54, Durability 81. Strongest: Tradability (88). Weakest: Risk (44). Based on 5 of 6 pillars.

Score 65 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B67 out of 100
    Rank 10 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C44 out of 100
    Rank 19 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A88 out of 100
    Rank 1 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C54 out of 100
    Rank 18 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A81 out of 100
    Rank 2 of 30

Our read on FENI

ETF.net Research

In short

BFidelity ran this quant strategy as a mutual fund from 2007, then moved it into an ETF wrapper in 2023. Same job either way: start from the shape of MSCI EAFE developed markets, then let statistical models tilt the roughly 300 names.

Stated mandate

The fund seeks to outperform its benchmark through a quantitative process balancing risk and return. It uses multifactor statistical models to select companies with desirable fundamental characteristics.

Why people hold it

  • Charges 0.28% a year against a 0.38% median for international multifactor funds. Cheaper running costs were part of Fidelity's stated case for the ETF conversion.fidelity.com
  • Sixteen years of live history before it ever traded on an exchange. The 2007 mutual fund carried identical objectives and fundamental policies into the November 2023 ETF.sec.gov
  • Active, but not adventurous. Multifactor models hunt for companies with desirable fundamentals while the MSCI EAFE benchmark anchors the portfolio. Roughly 300 holdings, quarterly distributions.
  • A multi-billion-dollar fund that trades actively, sitting in the upper half of a crowded international multifactor field.

Worth knowing

  • Cheaper multifactor options share the shelf, including Fidelity's own FDEV at 0.18% and iShares' INTF at 0.16%.
  • "Enhanced" means a quant team's models set the tilts, not a published index rulebook, so the portfolio can drift from MSCI EAFE in either direction.
  • Developed markets outside the US are the whole mandate. Emerging markets are not part of the job description.

FENI Performance

Launched Dec 20, 2007

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
FENI$11,477
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FENI $11,477. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FENI. Periods over one year show the average yearly return.
PeriodFENI
Year to date+10.7%
1 month−0.8%
3 months−2.1%
1 year+14.8%
3 yearsHistory unavailableper yearNo data
5 yearsHistory unavailableper yearNo data
10 yearsHistory unavailableper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FENI
YearReturn barFENI
2026 YTD+10.7%
2025+37.3%
2024+7.0%
2023+5.3%

History from Nov 20, 2023

FENI in the news

FENI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.07%Last 12 months
Payout per share
$1.22Last 12 months
Last payment
$0.21 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 13 payments from 2023 to 2026 YTD. Oct 13, 2023 $0.26; Nov 14, 2023 $0.06; Mar 15, 2024 $0.23; Jun 21, 2024 $0.28; Sep 20, 2024 $0.16; Dec 20, 2024 $0.16; Mar 21, 2025 $0.22; Jun 20, 2025 $0.34; Sep 19, 2025 $0.17; Dec 19, 2025 $0.36; Mar 20, 2026 $0.27; Jun 18, 2026 $0.37; Sep 18, 2026 $0.21. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 18, 2026Sep 22, 2026$0.21
Jun 18, 2026Jun 23, 2026$0.37
Mar 20, 2026Mar 24, 2026$0.27
Dec 19, 2025Dec 23, 2025$0.36
Sep 19, 2025Sep 23, 2025$0.17
Jun 20, 2025Jun 24, 2025$0.34
Mar 21, 2025Mar 25, 2025$0.22
Dec 20, 2024Dec 24, 2024$0.16
Sep 20, 2024Sep 24, 2024$0.16
Jun 21, 2024Jun 25, 2024$0.28
Mar 15, 2024Mar 20, 2024$0.23
Nov 14, 2023Nov 15, 2023$0.06

See all 13 payments⁠

$10,000 in FENI 3 years ago paid $1,128 in dividends.⁠

FENI Risk

Risk pillarC44 out of 100Rank 19 of 30 in International Multifactor
How much the fund’s monthly returns vary, scaled to a year.
11.6%
Annualised · 35 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.28
vs 3-month T-bills · 35 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−14.2%
35 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.92
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FENI Cost

Compare FENI and GSWO

Overpaying vs GSWO, cheapest in International Multifactor

$2,618

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FENI 0.28%

    $5,755

  • GSWO 0.15% Cheapest

    $3,137

$10,000
30 years

Cost over time

  • FENI 0.28%
  • GSWO 0.15%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FENI $5,755GSWO $3,137

Year by year

YearFENIGSWOOverpaying
10$509$274$235
20$1,976$1,071$905
30$5,755$3,137$2,618

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