BISAX vs. FTIEX

Last updated Jun 23, 2026

BISAX (Brandes International Small Cap Equity Fund) and FTIEX (Fidelity Total International Equity Fund) are both mutual funds - BISAX is a Foreign Small & Mid Cap Equities fund managed by Brandes, while FTIEX is a Foreign Large Cap Equities fund managed by Fidelity. Over the past 10 years, BISAX returned 10.57%/yr vs 11.04%/yr for FTIEX. Their correlation of 0.81 suggests significant overlap in exposure. BISAX charges 1.36%/yr vs 1.05%/yr for FTIEX.

Performance

BISAX vs. FTIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brandes International Small Cap Equity Fund (BISAX) and Fidelity Total International Equity Fund (FTIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BISAX achieves a -1.31% return, which is significantly lower than FTIEX's 15.51% return. Both investments have delivered pretty close results over the past 10 years, with BISAX having a 10.57% annualized return and FTIEX not far ahead at 11.04%.

BISAX

• 1D: -0.46%
• 1M: -1.95%
• YTD: -1.31%
• 6M: -0.61%
• 1Y: 10.95%
• 3Y*: 26.85%
• 5Y*: 16.97%
• 10Y*: 10.57%

FTIEX

• 1D: 1.47%
• 1M: 3.61%
• YTD: 15.51%
• 6M: 16.08%
• 1Y: 33.43%
• 3Y*: 19.36%
• 5Y*: 9.94%
• 10Y*: 11.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BISAX vs. FTIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BISAX Brandes International Small Cap Equity Fund	-1.31%	45.50%	23.18%	39.03%	-8.68%	18.39%	4.62%	6.80%	-20.13%	11.52%
FTIEX Fidelity Total International Equity Fund	15.51%	32.46%	6.58%	16.31%	-17.03%	11.11%	17.91%	27.63%	-15.19%	28.22%

Correlation

The correlation between BISAX and FTIEX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 1, 2012	0.81

The correlation between BISAX and FTIEX has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

Return for Risk

BISAX vs. FTIEX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BISAX

BISAX Risk / Return Rank: 10
BISAX Sharpe Ratio Rank: 11
BISAX Sortino Ratio Rank: 12
BISAX Omega Ratio Rank: 11
BISAX Calmar Ratio Rank: 10
BISAX Martin Ratio Rank: 9

FTIEX

FTIEX Risk / Return Rank: 56
FTIEX Sharpe Ratio Rank: 57
FTIEX Sortino Ratio Rank: 53
FTIEX Omega Ratio Rank: 57
FTIEX Calmar Ratio Rank: 57
FTIEX Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BISAX vs. FTIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brandes International Small Cap Equity Fund (BISAX) and Fidelity Total International Equity Fund (FTIEX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BISAX	FTIEX	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.05	-1.21
Sortino ratio: Return per unit of downside risk	1.30	2.81	-1.51
Omega ratio: Gain probability vs. loss probability	1.15	1.38	-0.23
Calmar ratio: Return relative to maximum drawdown	0.90	2.77	-1.87
Martin ratio: Return relative to average drawdown	2.41	10.92	-8.51

BISAX vs. FTIEX - Sharpe Ratio Comparison

The current BISAX Sharpe Ratio is 0.84, which is lower than the FTIEX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of BISAX and FTIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BISAX vs. FTIEX - Drawdown Comparison

The maximum BISAX drawdown since its inception was -47.30%, smaller than the maximum FTIEX drawdown of -61.85%. Use the drawdown chart below to compare losses from any high point for BISAX and FTIEX.

Drawdown Indicators

	BISAX	FTIEX	Difference
Max Drawdown Largest peak-to-trough decline	-47.30%	-61.85%	+14.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-11.78%	+0.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.63%	-14.18%	+2.55%
Max Drawdown (5Y) Largest decline over 5 years	-31.44%	-30.02%	-1.42%
Max Drawdown (10Y) Largest decline over 10 years	-47.30%	-33.37%	-13.93%
Current Drawdown Current decline from peak	-9.45%	0.00%	-9.45%
Average Drawdown Average peak-to-trough decline	-8.04%	-13.12%	+5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	2.98%	+1.35%

Volatility

BISAX vs. FTIEX - Volatility Comparison

The current volatility for Brandes International Small Cap Equity Fund (BISAX) is 3.52%, while Fidelity Total International Equity Fund (FTIEX) has a volatility of 6.67%. This indicates that BISAX experiences smaller price fluctuations and is considered to be less risky than FTIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BISAX	FTIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	6.67%	-3.15%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	13.96%	-3.60%
Volatility (1Y) Calculated over the trailing 1-year period	12.51%	15.90%	-3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	16.37%	-2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.28%	16.89%	-2.61%

BISAX vs. FTIEX - Expense Ratio Comparison

BISAX has a 1.36% expense ratio, which is higher than FTIEX's 1.05% expense ratio.

Dividends

BISAX vs. FTIEX - Dividend Comparison

BISAX's dividend yield for the trailing twelve months is around 3.27%, more than FTIEX's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BISAX Brandes International Small Cap Equity Fund	3.27%	3.23%	3.06%	2.81%	3.87%	3.46%	0.81%	0.66%	3.88%	8.33%	4.00%	3.44%
FTIEX Fidelity Total International Equity Fund	1.06%	1.23%	1.57%	1.33%	1.07%	8.67%	2.46%	1.66%	1.00%	2.43%	1.47%	1.25%

Frequently Asked Questions

Can I hold both BISAX and FTIEX in my portfolio?

BISAX and FTIEX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BISAX or FTIEX?

FTIEX has higher volatility (6.67%) compared to BISAX (3.52%). In terms of maximum drawdown, BISAX dropped -47.30% vs FTIEX's -61.85%.

Which has better risk-adjusted returns?

FTIEX currently has the higher Sharpe Ratio (2.05 vs 0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.