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FENY vs IEO
Which ETF would AI Choose? Fidelity MSCI Energy Index ETF (FENY) vs. iShares U.S. Oil & Gas Exploration & Production ETF (IEO)
Key Takeaways
- Different breadth, same sector. FENY covers the entire U.S. energy value chain (integrated majors, refiners, midstream, and oilfield services), while IEO narrows its focus to oil and gas exploration and production (E&P) companies.
- Cost gap is significant. FENY carries a 0.08% expense ratio versus roughly 0.37% for IEO, giving FENY a structural cost advantage for long-term holders.
- Concentration differs sharply. FENY holds roughly 100+ stocks, whereas IEO holds only about 45–51 names, making IEO a more concentrated, higher-beta expression of energy.
- Overlapping but not interchangeable. Both funds lean heavily on Exxon Mobil, Chevron, and ConocoPhillips, but FENY adds midstream and services exposure that IEO largely excludes.
- Risk profiles diverge. IEO is more sensitive to crude oil and natural gas price swings, while FENY offers broader, more diversified sector exposure.
Introduction
Energy has re-emerged as one of the most closely watched sectors in recent market cycles, driven by shifting supply-demand balances, capital discipline among producers, and persistent questions around oil and gas prices. For investors evaluating sector exposure, FENY and IEO are frequently compared side by side—but they are not direct substitutes. FENY provides diversified access to the entire U.S. energy complex, while IEO targets a narrower exploration and production niche. Understanding their structural differences in holdings, cost, and risk is essential for choosing the right vehicle for a given view on energy.
Fidelity MSCI Energy Index ETF (FENY) Overview
FENY is a passively managed index fund that seeks to track the MSCI USA IMI Energy 25/50 Index, a benchmark representing the energy sector of the U.S. equity market. The fund holds roughly 100 to 107 securities spanning integrated oil and gas, refining and marketing, storage and transportation, and equipment and services.
Its top holdings are dominated by supermajors: XOM (Exxon Mobil) at roughly 22–23%, CVX (Chevron) near 14–15%, and COP (ConocoPhillips) around 6%. Refiners and midstream operators such as MPC (Marathon Petroleum), VLO (Valero Energy), PSX (Phillips 66), and WMB (Williams Companies) round out the top positions. With a 0.08% expense ratio, FENY is among the lowest-cost ways to own diversified energy exposure.
iShares U.S. Oil & Gas Exploration & Production ETF (IEO) Overview
IEO is a passively managed fund that tracks the Dow Jones U.S. Select Oil Exploration & Production Index. It concentrates on U.S. companies engaged in the exploration, production, and distribution of oil and gas, holding roughly 45 to 51 names—a much tighter portfolio than FENY.
Its largest position is COP (ConocoPhillips) at roughly 17–18%, followed by MPC (Marathon Petroleum) and VLO (Valero Energy) each near 11–13%. Other notable holdings include EOG (EOG Resources), PSX (Phillips 66), DVN (Devon Energy), FANG (Diamondback Energy), and EQT (EQT Corporation). IEO's expense ratio is about 0.37%, considerably higher than FENY's, reflecting its more specialized mandate.
Industry and Thematic Backdrop
Both funds operate within a sector shaped by commodity prices, capital expenditure discipline, and shareholder-return strategies. In recent market cycles, producers have prioritized free cash flow, dividends, and buybacks over aggressive production growth, supporting earnings stability. At the same time, refiners and midstream operators have benefited from resilient demand and favorable crack spreads, while oilfield services and equipment firms remain tied to upstream investment cycles. Risks include crude oil and natural gas price volatility, geopolitical supply disruptions, regulatory shifts, and the longer-term energy transition away from fossil fuels—all of which can influence relative positioning across these two ETFs.
Performance and Positioning Comparison
In recent weeks and months, both funds have been driven by the same macro forces but have responded with different intensity. Because IEO is concentrated in exploration and production names, its relative positioning is more sensitive to spot crude oil and natural gas price moves, making it the higher-volatility choice during commodity swings. FENY, by contrast, blends integrated majors with refiners, midstream, and services companies, which tends to smooth returns and reduce drawdowns relative to pure E&P exposure. When refining margins or pipeline earnings outperform, FENY has a relative tailwind; when upstream producers rally on rising commodity prices, IEO's narrower tilt can amplify gains. This structural difference in sector exposure is the core driver of their performance divergence over recent market cycles.
AI Screener
Tickeron's AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities far more efficiently than manual screening. Explore the AI Screener to surface high-conviction ideas aligned with your own research process.
Tickeron AI Verdict
Based on observable structural factors, Tickeron's AI would likely favor FENY over IEO for most investors seeking core energy exposure. FENY offers a materially lower expense ratio, broader diversification across integrated oil, refining, midstream, and services, and a more balanced risk profile. IEO's concentrated E&P tilt may offer stronger momentum capture during sharp commodity rallies, but it carries higher volatility and narrower diversification. Probabilistically, FENY's combination of cost efficiency, diversification, and trend consistency gives it the structural edge, while IEO remains a tactical tool for investors with a specific bullish view on exploration and production.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is FENY is a Hold and IEO is a Hold.
FENY's MACD Histogram crosses above signal line
The Moving Average Convergence Divergence (MACD) for FENY turned positive on October 08, 2026. Looking at past instances where FENY's MACD turned positive, the stock continued to rise in 49 of 52 cases over the following month. The odds of a continued upward trend are 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 05, 2026. You may want to consider a long position or call options on FENY as a result. In 75 of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 87%.
FENY moved above its 50-day moving average on October 01, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +2.26% 3-day Advance, the price is estimated to grow further. Considering data from situations where FENY advanced for three days, in 348 of 385 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. In 310 of 346 cases where FENY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
Bearish Trend Analysis
The 10-day RSI Indicator for FENY moved out of overbought territory on October 27, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 46 similar instances where the indicator moved out of overbought territory. In 42 of the 46 cases, the stock moved lower in the following days. This puts the odds of a move lower at 90%.
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
FENY broke above its upper Bollinger Band on October 30, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Momentum Indicator for IEO turns negative, indicating new downward trend
IEO saw its Momentum Indicator move below the 0 level on October 27, 2026. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 80 similar instances where the indicator turned negative. In 71 of the 80 cases, the stock moved further down in the following days. The odds of a decline are at 89%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for IEO moved out of overbought territory on October 27, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 42 similar instances where the indicator moved out of overbought territory. In 37 of the 42 cases, the stock moved lower in the following days. This puts the odds of a move lower at 88%.
The Moving Average Convergence Divergence Histogram (MACD) for IEO turned negative on October 28, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In 42 of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at 84%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IEO declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 82%.
IEO broke above its upper Bollinger Band on October 13, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 50 of 57 cases where IEO's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 88%.
IEO moved above its 50-day moving average on October 01, 2026 date and that indicates a change from a downward trend to an upward trend.
Following a +3.23% 3-day Advance, the price is estimated to grow further. Considering data from situations where IEO advanced for three days, in 349 of 385 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. In 286 of 326 cases where IEO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 88%.
| FENY | IEO | |
|---|---|---|
| RSI ODDS (%) | 2 days ago 90% | 2 days ago 88% |
| Stochastic ODDS (%) | 2 days ago 82% | 2 days ago 88% |
| Momentum ODDS (%) | 2 days ago 87% | 2 days ago 89% |
| MACD ODDS (%) | 2 days ago 90% | 2 days ago 84% |
| TrendWeek ODDS (%) | 2 days ago 90% | 2 days ago 90% |
| TrendMonth ODDS (%) | 2 days ago 89% | 2 days ago 88% |
| Advances ODDS (%) | 2 days ago 90% | 6 days ago 90% |
| Declines ODDS (%) | N/A | 10 days ago 82% |
| BollingerBands ODDS (%) | 2 days ago 84% | 2 days ago 83% |
| Aroon ODDS (%) | 2 days ago 90% | 2 days ago 88% |
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FENY and
Correlation & Price change
A.I.dvisor indicates that over the last year, FENY has been closely correlated with CVX. These tickers have moved in lockstep 90% of the time. This A.I.-generated data suggests there is a high statistical probability that if FENY jumps, then CVX could also see price increases.
| Ticker / NAME | Correlation To FENY | 1D Price Change % | ||
|---|---|---|---|---|
| FENY | 100% | +1.88% | ||
| CVX - FENY | 90% Closely correlated | +1.75% | ||
| XOM - FENY | 89% Closely correlated | +2.16% | ||
| COP - FENY | 89% Closely correlated | +2.67% | ||
| EOG - FENY | 86% Closely correlated | +2.05% | ||
| OVV - FENY | 85% Closely correlated | +1.47% | ||
More | ||||
IEO and
Correlation & Price change
A.I.dvisor indicates that over the last year, IEO has been closely correlated with EOG. These tickers have moved in lockstep 88% of the time. This A.I.-generated data suggests there is a high statistical probability that if IEO jumps, then EOG could also see price increases.