Fidelity Enhanced International ETF (FENI), launched in November 2023, has outperformed the S&P 500 and its international peers by using a quantitative stock selection strategy focused on developed markets like Europe, Japan, and Australia. The fund benefits from a weakening U.S. dollar and higher dividend yields from international companies, delivering about 3% dividends and a 45% return over the past year. While the fund offers active management at a low fee, investors should be aware of its short track record, variable income, and currency risk, as it does not hedge against dollar fluctuations. FENI suits investors seeking international exposure with potential for alpha but requires caution on expectations and currency movements.
