I have a set of SKS chromplastic fenders that I finally installed a few weeks ago. The SKS fenders are the same, AFAIK, as the old ESGE fenders that were sold in the 80's. They don't require as much clearance as you might think. The fenders are really thin (light aluminum sandwiched between plastic) and fit close to the brakes. The rear fender has a clip that might take a few mm extra, but no much.
The SKS fenders are full coverage and work very well. No spray from the tires. And they mount very securely. The front fender has a special plastic fitting that is supposed to release the struts if you get a stick between the spokes.
These fenders are a lot of trouble to mount, but it's doable. If you don't want to go to that trouble, get a pair of the fenders that mount with straps. They protect you well enough, stay put, and are easy to put on or take off.