FENY vs PXI

FENYAFidelity MSCI Energy Index ETF

PXICInvesco Dorsey Wright Energy Momentum 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.

PXI Most energy ETFs rank holdings by size, so the majors sit on top. PXI ranks energy stocks by price strength and reshuffles quarterly. Fee: 0.60% net of a waiver through August 31, 2028.

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.

PXI The fund seeks to track the Dynamic Energy Sector Intellidex Index by investing primarily in its constituent securities. The index selects energy companies using investment-merit criteria that include momentum measures.

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.

• PXI Different engine: a relative-strength screen picks a minimum of 30 energy names, so leadership can shift toward refiners, midstream or services as price trends shift.nasdaqomx.com
• Trading since October 2006, which covers several full oil booms and busts. Long track records are rare among momentum-screened sector funds.
• A few dozen energy stocks, rebuilt on a published quarterly schedule rather than a manager's hunch.invesco.com
• The portfolio build is the strong part of the story, and the fund lands in the upper half of the broad energy group.

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.

• PXI Costs 0.60% net of a waiver through August 31, 2028 (0.85% without it), above the energy category median. Plain index rivals XLE (0.08%) and VDE (0.09%) are far cheaper.
• Thinly traded with a modest asset base, so trading costs can matter more here than in the household-name energy funds.
• Momentum cuts both ways: the quarterly reshuffle buys what has been rising, and a concentrated energy-only book has no other sector to cushion a turn.

Full FENY profile⁠

Full PXI profile⁠