FENY vs NVIR

FENYAFidelity MSCI Energy Index ETF

NVIRFHorizon Kinetics Energy Remediation ETF

In short

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.

NVIR Most energy ETFs buy the oil patch by index weight. NVIR is Horizon Kinetics hand-picking roughly 40 companies across the US, Canada and Australia that it expects to benefit as attention turns to cleaner carbon-based energy production.

Stated mandate

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.

NVIR The Fund seeks long-term capital growth. It is actively managed and invests primarily in companies expected to benefit from increasing attention to climate and environmentally sensitive carbon-based energy production.

Why people hold it

• 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.

• NVIR Actively managed with a value-driven, bottom-up process. Nobody is tracking a benchmark here; the portfolio is a stock-by-stock set of picks, roughly 40 names deep.
• A slice of energy that broad sector funds blend away: companies positioned to gain as climate and environmental pressure reshapes how carbon-based energy gets produced.
• The mandate reaches past the US into Canada and Australia, two resource-heavy markets, rather than fishing only in the domestic energy pond.

Worth knowing

• 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.

• NVIR You pay 0.85% for the stock-picking. Index-tracking energy peers run far cheaper, with XES at 0.35% and MLPX at 0.45%.
• Small fund, light trading. Spreads can be wider than on the big sector ETFs, so the price you get depends on how you place the order.
• Launched in 2023, with roughly 40 holdings and distributions once or twice a year. Short track record, concentrated portfolio, no monthly income rhythm.

Full FENY profile⁠

Full NVIR profile⁠