CRAK vs FENY

CRAKCVanEck Oil Refiners ETF

FENYAFidelity MSCI Energy Index ETF

In short

CRAK The refinery trade in one ticker. CRAK owns the global companies that turn crude into gasoline, diesel and jet fuel, businesses whose economics ride the processing spread rather than the price of a barrel.

FENY One of the cheapest ways to own U.S. energy: 0.08% a year for roughly 110 energy stocks tracked through MSCI's full-market benchmark. No stock picking, no clever tilts, just the sector at cost.

Stated mandate

CRAK The fund seeks to track, before fees and expenses, the price and yield performance of the MVIS Global Oil Refiners Index, a rules-based modified-capitalization-weighted index covering companies involved in crude-oil refining and related refined petroleum products.

FENY Seeks investment returns that generally correspond, before fees and expenses, to the performance of the MSCI USA IMI Energy 25/50 Index. The fund invests at least 80% of assets in securities included in that index and uses representative sampling.

Why people hold it

• CRAK A real pure play: the index only admits companies generating at least 50% of revenue from crude oil refining, so you get processors, not drillers with a refinery attached.sec.gov
• Global by design. The index covers the worldwide refining segment and can hold depositary receipts, reaching refiners listed well outside the US.sec.gov
• A different engine from broad energy funds: refiners buy crude and sell gasoline, diesel, jet fuel and naphtha, so the input-to-output spread drives the business.sec.gov
• Trading since 2015, a long run for a single-industry theme fund, and built on a rules-based index rather than a manager's picks.sec.gov

• FENY Costs 0.08% a year against a 0.45% median for broad energy funds. Only XLE matches it; VDE, IYE and ENFR all charge more.
• Tracks MSCI's USA IMI energy benchmark, a full-market read on the sector, so the basket runs roughly 110 names deep rather than a short list.
• Returns have lined up closely with the index it follows, and it trades actively. As implementations of broad energy go, this is one of the tidiest in the group.
• Running since 2013, so it has a long record through both oil booms and busts, and Fidelity has kept it plain vanilla the whole way.

Worth knowing

• CRAK At 0.61% a year, it costs more than broad energy index funds such as XLE and FENY at 0.08%. That is the toll for slicing out one link in the chain.
• Non-diversified and about 30 names, so one refiner's outage or margin miss can move the whole fund.sec.gov
• Overseas holdings bring currency and foreign-market risk, and distributions land annually or semiannually rather than monthly.sec.gov

• FENY One sector, one country. Oil and gas prices set the mood here, and the swings run wider than a total-market fund's.
• The index weights by company size, so even with roughly 110 holdings a handful of giants carry most of the load.
• Distributions land quarterly, not monthly, which matters if you are pacing income.

Full CRAK profile⁠

Full FENY profile⁠