FENI vs INTF: Grades, Fees and Holdings Compared

Fidelity Enhanced International ETF

FENIBNYSE Arca

iShares International Equity Factor ETF

INTFANYSE Arca

Overlap

42.6%by weight

Expense ratio

INTF −0.12pt a year

FENI0.28%INTF0.16%

Avg volume · 30D

FENI 4.2×the volume

FENI1.31MINTF309K

FENI vs INTF Performance

Oct 31, 2025 – Oct 30, 2026

+14.8%FENI+17.0%INTF

Expense ratio: FENI 0.28%; INTF 0.16%, better
Fund size: FENI $11.5B; INTF $3.7B
1Y total return: FENI +14.8%; INTF +17.0%, better
Yield (12M): FENI 3.07%, better; INTF 3.02%
Holdings: FENI 447; INTF 501
Avg volume (30D): FENI 1.31M sh, better; INTF 309K sh
NAV per share: FENI $39.65; INTF $41.10
52W range

ETF.net Grade

Pillar letters and Scores for FENI, INTF, with each pillar’s weight
Pillar	FENI	INTF
Cost30% weight	B67	A98Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C44	B55Higher
Tradability15% weight	A88Higher	A73
Holdings10% weight	C54	B68Higher
Durability5% weight	A81	A86Higher

Rank among International Multifactor funds

How we build Categories ›

Same Category. FENI and INTF are both graded against the same 30 International Multifactor funds, so their Grades compare head to head.

International Multifactor⁠

Category · 30 funds

See all 30 ›

INTF ranks 1st and FENI 9th of 30 funds in the International Multifactor Category.

Rank 1AINTFiShares International Equity Factor ETFScore 79
Rank 2ADFAIDimensional International Core Equity Market ETFScore 77
Rank 7BGSIEGoldman Sachs ActiveBeta International Equity ETFScore 67
Rank 9BFENIFidelity Enhanced International ETFScore 65
Rank 10BDEEFXtrackers FTSE Developed ex US Multifactor ETFScore 64

Our read on each fund

ETF.net Research

FENIBFidelity Enhanced International ETF

INTFAiShares International Equity Factor ETF

In short

FENI Fidelity 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.

INTF Five factors at once (value, quality, momentum, low volatility, low size) aimed at developed markets outside the US, for 0.16% a year. That is well under half what the typical international multifactor fund charges.

Stated mandate

FENI 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.

INTF The fund seeks to track an index of international developed-market stocks chosen using value, quality, momentum, low-volatility, and low-size factors.

Why people hold it

FENI 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.

INTF At 0.16% a year it undercuts the peer median of 0.38%, and also GSIE (0.25%), RODM (0.29%) and FDEV (0.18%).
One basket of roughly 500 developed-market stocks does the work of separate value, quality, momentum, low-volatility and small-size sleeves.
Live since 2015 and now a multi-billion-dollar iShares fund, giving it more history than much of the international multifactor shelf.
Rates among the strongest implementations in its international multifactor peer group of 29 funds.

Worth knowing

FENI 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.

INTF Factor tilts are the whole point, so returns can wander from a plain cap-weighted international index in either direction, sometimes for long stretches.
Developed markets only. No emerging-market exposure here, and returns move with foreign currencies as well as foreign stocks.
Volume is moderate rather than heavy, so limit orders help. Distributions land once or twice a year, not quarterly.

Full FENI profile⁠

Full INTF profile⁠

FENI vs INTF Holdings

How FENI and INTF differ

Overlap by weight

42.6%

Shared holdings make up 72.2% of FENI and 59.6% of INTF.

Level by level

Holdings220 in both42.6%
Countryby domicile85.2%
Sector11 Sectors91.7%
Asset classEquity100%

Sector

Sector weights in FENI and INTF, widest gap first
Sector	More in FENIMore in INTF	FENI	INTF
Industrials	FENI +4.1 points	21.0%	16.9%
Materials	INTF +2.4 points	4.3%	6.7%
Technology	FENI +2.2 points	12.9%	10.7%
Consumer Discretionary	INTF +1.9 points	7.4%	9.3%
Consumer Staples	INTF +1.5 points	4.5%	6.0%
Real Estate	INTF +1.5 points	0.8%	2.3%
Health Care	FENI +1.3 points	10.0%	8.7%
Energy	INTF +1.0 points	4.5%	5.5%
Communication	FENI +0.4 points	3.5%	3.1%
Financials	FENI +0.3 points	27.1%	26.8%
Utilities	FENI +0.2 points	4.2%	4.0%

Country, concentration and asset class

Country by domicile

Country weights in FENI and INTF, widest gap first
Country	More in FENIMore in INTF	FENI	INTF
Canada	INTF +7.8 points	0.0%	7.8%
Japan	INTF +2.6 points	23.8%	26.4%
United States	FENI +2.1 points	2.1%	0.0%
Germany	FENI +1.8 points	8.7%	6.9%
Switzerland	FENI +1.6 points	10.2%	8.6%
France	FENI +1.6 points	8.5%	6.9%
Australia	INTF +1.4 points	5.1%	6.5%
Netherlands	FENI +1.4 points	6.6%	5.2%
Other countries (17)	FENI +3.4 points	35.1%	31.7%

Outside the US: FENI 98% developed, 2% emerging. INTF 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

FENI15.5%
INTF12.8%

Securities held

FENI437
INTF482

Asset class

FENI: Equity
INTF: Equity

Holdings

Only in FENI217
In both220
Only in INTF262

Only in FENI

217 securities, 27.2% of FENI by weight

Shell PLC1.00%
Rwe AG0.70%
Aercap Holdings NV0.66%
Dhl AG0.62%
Danske Bk As0.61%
Bandai Namco Holdings Inc0.59%
Kyocera Corp0.59%
Anheuser-Busch Inbev Sa/Nv0.56%
Qbe Insurance Group Ltd0.55%
Leonardo Spa0.55%
Novartis AG Spon Adr0.49%
Boc Hong Kong Holdings Ltd0.48%
Gsk PLC Spons Adr0.48%
Veolia Environnement0.46%
Aena Sme SA0.46%
Unilever PLC Spons Adr0.45%
Shell PLC Spons Adr0.41%
Bank Hapoalim Ltd (Reg)0.41%
Sumitomo Metal Mining Co Ltd0.40%
Renesas Electronics Corp0.38%
Sumitomo Mitsui Tr Group Inc0.36%
Evonik Industries AG0.36%
Bank Leumi Le-Israel Bm0.34%
Mitsubishi Chemical Group Corp0.34%
Hsbc Holdings PLC Spon Adr0.34%
Sanofi Spon Adr0.33%
Argenx SE0.33%
Woodside Energy Group Ltd0.32%
Argenx SE Sponsored Adr0.32%
Bridgestone Corp0.30%
Arcelormittal SA (Neth)0.29%
Swedbank Ab A0.28%
Securities Lending Cf0.27%
Santos Ltd0.26%
Sampo Oyj Ser A0.26%
United Overseas Bank (Loc)0.26%
Bunzl PLC0.25%
Talanx Aktiengesellschaft0.25%
Koninklijke Philips NV0.25%
National Australia Bank Ltd0.24%
Barclays Bank Adr0.24%
Erste Group Bank AG0.24%
Edp S.a.0.24%
Vat Group AG0.23%
Roche Holding Ltd Spon Adr0.23%
Givaudan AG0.23%
Suzuki Motor Corp0.22%
Thales0.22%
Asahi Kasei Corp0.21%
Inpex Corp0.18%

Only in INTF

262 securities, 39.9% of INTF by weight

Royal Bank of Canada1.20%
Loblaw Companies Ltd0.81%
Shell0.80%
Manulife Financial0.66%
Aib Group PLC0.63%
Suncor Energy Inc0.62%
Loreal SA0.56%
Repsol0.56%
Tokio Marine Holdings0.50%
Balfour Beatty PLC0.41%
Shopify Subordinate Voting Class A0.39%
Toronto Dominion0.39%
Equinor0.39%
MS&AD Insurance Group Holdings0.38%
Jb Hi-Fi Ltd0.38%
Canadian Natural Resources Ltd0.36%
Al Sydbank0.35%
Iss A’s0.35%
Hokuhoku Financial Group Inc0.34%
Uss0.34%
Coca Cola Hbc AG0.33%
Fisher and Paykel Healthcare Corpo0.32%
Mitsubishi Heavy Industries0.31%
Unibail Rodamco We Stapled Units0.31%
Subaru0.30%
Nutrien Ltd0.30%
Saipem0.29%
Japan Post Bank Ltd0.29%
Glencore PLC0.29%
Barclays PLC0.29%
Aurizon Holdings0.29%
E.on N0.28%
Yamazaki Baking Ltd0.28%
Kinross Gold0.28%
Santen Pharmaceutical0.27%
Drax Group PLC0.27%
Barrick Mining0.27%
Aberdeen Group PLC0.26%
Banco De Sabadell0.26%
Bam Groep Koninklijke NV0.26%
Nordex0.25%
Mercedes-Benz Group N AG0.25%
Power Corporation of Canada0.24%
Wheaton Precious Metals0.24%
Delonghi0.24%
Next PLC0.23%
Daiichi Life Group0.23%
Bmw0.23%
PLUS5000.23%
Vz Holding AG0.23%

Weight gaps

The 100 widest of 220 Holdings in both funds.

Holding weights in FENI and INTF, widest gap first
Holding	More in FENIMore in INTF	FENI	INTF
Asml Holding NV	FENI +0.99 points	3.29%	2.30%
Iberdrola SA	FENI +0.86 points	1.21%	0.35%
Novartis AG (Reg)	INTF +0.80 points	1.45%	2.25%
Mizuho Financial Group Inc	INTF +0.78 points	0.05%	0.83%
Nestle SA (Reg)	FENI +0.74 points	1.73%	0.99%
Sony Group Corp	FENI +0.72 points	1.19%	0.47%
Tokyo Electron Ltd	FENI +0.67 points	1.14%	0.47%
Lloyds Banking Group PLCLLOY.L	FENI +0.67 points	0.76%	0.09%
Keyence Corp	FENI +0.67 points	0.73%	0.06%
Astellas Pharma Inc	FENI +0.64 points	0.69%	0.05%
Roche Holding AG	FENI +0.63 points	1.85%	1.22%
Deutsche Telekom AG (Regd)	FENI +0.61 points	0.94%	0.33%
Aia Group Ltd	FENI +0.59 points	0.94%	0.35%
Bnp Paribas (Fran)	FENI +0.59 points	0.71%	0.13%
Siemens Energy AG	FENI +0.58 points	1.05%	0.47%
Dbs Group Holdings Ltd	FENI +0.57 points	0.92%	0.35%
Rio Tinto Ltd	INTF +0.56 points	0.08%	0.64%
Unicredit Spa	INTF +0.56 points	0.21%	0.77%
Ubs Group AG	FENI +0.55 points	1.17%	0.62%
Rolls-Royce Holdings PLCRR.L	FENI +0.53 points	1.07%	0.54%
Siemens AG (Regd)	FENI +0.52 points	1.21%	0.69%
Hitachi Ltd	FENI +0.52 points	1.08%	0.56%
Danone SA	FENI +0.51 points	0.61%	0.10%
Legrand SA	FENI +0.51 points	0.53%	0.02%
Abn Amro Bank Nv-Cva	INTF +0.50 points	0.19%	0.69%
Infineon Technologies AG	FENI +0.49 points	0.50%	0.01%
Genmab As	FENI +0.49 points	0.55%	0.06%
Nn Group NV	FENI +0.48 points	0.50%	0.02%
Recruit Holdings Co Ltd	FENI +0.47 points	1.28%	0.81%
Sumitomo Corp	FENI +0.46 points	0.64%	0.18%
Nordea Bank Abp	INTF +0.45 points	0.04%	0.49%
Capgemini SA (FF40)	FENI +0.45 points	0.47%	0.02%
Bae Systems PLCBA.L	FENI +0.44 points	0.86%	0.42%
Ing Groep NV	FENI +0.44 points	0.75%	0.31%
Orix Corp	FENI +0.41 points	0.53%	0.12%
Mitsubishi Corp	FENI +0.38 points	0.43%	0.05%
Bp PLCBP.L	FENI +0.38 points	0.98%	0.60%
Koninklijke Ahold Delhaize NV	INTF +0.38 points	<0.01%	0.38%
Societe Generale SA Class A	FENI +0.38 points	0.70%	0.32%
Deutsche Bank AG (Gerw)	INTF +0.37 points	0.01%	0.38%
Singapore Tech Engineering Ltd	FENI +0.36 points	0.46%	0.10%
Sumitomo Mitsui Finl Group Inc	INTF +0.36 points	0.50%	0.86%
Advantest Corp	FENI +0.36 points	0.99%	0.63%
Panasonic Holdings Corp	FENI +0.35 points	0.47%	0.12%
Deutsche Boerse AG	INTF +0.35 points	0.03%	0.38%
Makita Corp	FENI +0.35 points	0.36%	0.01%
Gsk PLCGSK.L	INTF +0.34 points	0.17%	0.51%
Hong Kong Exchs & Clearing Ltd	FENI +0.34 points	0.39%	0.05%
Toyota Motor Corp	INTF +0.34 points	0.34%	0.68%
Banco Bilbao Viz Argentaria SA	FENI +0.33 points	0.96%	0.63%
Banco Santander SA (Spain)	FENI +0.32 points	0.70%	0.38%
Natwest Group PLCNWG.L	FENI +0.31 points	0.56%	0.25%
Mitsubishi Electric Corp Ord	FENI +0.30 points	0.50%	0.20%
Otsuka Corporation	INTF +0.29 points	0.05%	0.34%
Tdk Corp	FENI +0.29 points	0.32%	0.03%
Bhp Group Limited	INTF +0.29 points	0.62%	0.91%
Klepierre SA	INTF +0.28 points	0.02%	0.30%
Softbank Group Corp	INTF +0.28 points	0.09%	0.37%
Ageas Sa/Nv	INTF +0.27 points	0.07%	0.34%
Intesa Sanpaolo Spa	FENI +0.26 points	0.55%	0.29%
Imperial Brands PLCIMB.L	FENI +0.27 points	0.36%	0.09%
Enel Spa	INTF +0.27 points	0.07%	0.34%
Nec Corp	FENI +0.26 points	0.43%	0.17%
Tesco PLCTSCO.L	INTF +0.26 points	0.17%	0.43%
Asics Corp	INTF +0.26 points	0.28%	0.54%
Otsuka Holdings Co Ltd	FENI +0.25 points	0.45%	0.20%
Investor Ab Ser B	FENI +0.25 points	0.67%	0.42%
Sumitomo Electric Inds Ltd	FENI +0.26 points	0.45%	0.19%
Axa SA	FENI +0.26 points	0.39%	0.13%
Aristocrat Leisure Ltd	FENI +0.26 points	0.36%	0.10%
The Sage Group PLCSGE.L	INTF +0.25 points	0.23%	0.48%
Asm International NV (Neth)	FENI +0.26 points	0.32%	0.06%
Engie SA	INTF +0.25 points	0.22%	0.47%
Commonwealth Bk of Australia	INTF +0.24 points	0.40%	0.64%
Bayer AG	FENI +0.24 points	0.33%	0.09%
Hochtief AG	INTF +0.23 points	0.00%	0.23%
Pandora A/S	INTF +0.23 points	0.01%	0.24%
Anz Group Holdings Ltd	FENI +0.23 points	0.37%	0.14%
Kone Oyj B	FENI +0.23 points	0.46%	0.23%
Macquarie Group Ltd	FENI +0.22 points	0.31%	0.09%
Compass Group PLCCPG.L	FENI +0.22 points	0.40%	0.18%
Novo-Nordisk As Class B	INTF +0.22 points	0.32%	0.54%
Dnb Bank Asa	INTF +0.22 points	0.01%	0.23%
Oversea-Chinese Bkg Corp Ltd	FENI +0.22 points	0.50%	0.28%
Logitech Intl SA Reg	INTF +0.22 points	0.00%	0.22%
Rio Tinto PLC (Regd)RIO.L	INTF +0.22 points	0.00%	0.22%
Caixabank SA	INTF +0.22 points	<0.01%	0.21%
Astrazeneca PLC (Uk)AZN.L	INTF +0.21 points	0.75%	0.96%
Acs Actividades Const Y Srv SA	FENI +0.22 points	0.33%	0.11%
Sanofi	FENI +0.21 points	0.64%	0.43%
Naturgy Energy Group SA	INTF +0.21 points	0.12%	0.33%
Akzo Nobel NV	INTF +0.20 points	<0.01%	0.20%
SOUTH32	FENI +0.19 points	0.22%	0.03%
Qiagen NV (Gerw)	FENI +0.19 points	0.28%	0.09%
Safran SA	INTF +0.19 points	0.21%	0.40%
Takeda Pharmaceutical Co Ltd	INTF +0.19 points	0.02%	0.21%
Wesfarmers Ltd	INTF +0.19 points	<0.01%	0.19%
Kingfisher PLCKGF.L	INTF +0.19 points	0.03%	0.22%
Volkswag Pfd Perp	FENI +0.18 points	0.21%	0.03%
Alfa Laval Ab	INTF +0.18 points	0.01%	0.19%

All 313 FENI holdings⁠All 483 INTF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FENI vs INTF Cost

Overpaying FENI vs INTF

$2,413

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

FENI 0.28%
$5,755
INTF 0.16%
$3,342

Amount$10,000

Years30 years

Cost over time

FENI 0.28%
INTF 0.16%
Overpaying

Year by year

Year	FENI	INTF	Overpaying
10	$509	$292	$217
20	$1,976	$1,141	$835
30	$5,755	$3,342	$2,413

Expense ratio

0.28%FENI
0.16%INTF, cheaper

INTF0.16%FENI0.28%

0.15%0.80%

Middle half of International Multifactor funds
Median 0.34%

INTF 2nd cheapest of 30 funds

FENI 10th cheapest of 30 funds

FENI vs INTF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FENI 3.07%, better; INTF 3.02%
Payout (12M): FENI $1.22; INTF $1.24
Last payment: FENI $0.21; INTF $0.72
Ex-dividend: FENI Sep 18, 2026; INTF Jun 15, 2026
Paid on: FENI Sep 22, 2026; INTF Jun 18, 2026
Frequency: FENI Quarterly; INTF Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FENIQuarterly · 13 paymentsAll FENI payments⁠

INTFTwice a year · 20 paymentsAll INTF payments⁠

FENI vs INTF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FENI 11.6%since Dec 2023INTF 11.2%
Return per unit of riskSharpe ratio, 3 years: FENI 1.28since Dec 2023INTF 1.45
Worst fallMax drawdown, 5 years: FENI −14.2%since Nov 2023INTF −27.6%
Market sensitivityBeta, 5 years: FENI 0.92INTF 0.74; Market = 1

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