FADCX vs. FSGEX

Last updated Jun 5, 2026

FADCX (Fidelity Advisor Diversified International Fund Class C) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds from Fidelity. Over the past 10 years, FADCX returned 8.39%/yr vs 9.86%/yr for FSGEX. With a 0.95 correlation, they move nearly in lockstep. FADCX charges 1.95%/yr vs 0.01%/yr for FSGEX.

Performance

FADCX vs. FSGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Diversified International Fund Class C (FADCX) and Fidelity Series Global ex U.S. Index Fund (FSGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FADCX achieves a 10.71% return, which is significantly lower than FSGEX's 14.81% return. Over the past 10 years, FADCX has underperformed FSGEX with an annualized return of 8.39%, while FSGEX has yielded a comparatively higher 9.86% annualized return.

FADCX

• 1D: -0.31%
• 1M: 3.63%
• YTD: 10.71%
• 6M: 12.98%
• 1Y: 20.41%
• 3Y*: 15.47%
• 5Y*: 6.22%
• 10Y*: 8.39%

FSGEX

• 1D: -0.90%
• 1M: 4.06%
• YTD: 14.81%
• 6M: 17.29%
• 1Y: 31.94%
• 3Y*: 19.80%
• 5Y*: 8.70%
• 10Y*: 9.86%

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

FADCX vs. FSGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FADCX Fidelity Advisor Diversified International Fund Class C	10.71%	26.30%	5.35%	16.16%	-24.48%	11.75%	18.38%	28.46%	-16.24%	25.63%
FSGEX Fidelity Series Global ex U.S. Index Fund	14.81%	32.99%	5.34%	15.56%	-15.75%	7.77%	10.75%	21.41%	-13.99%	27.47%

Correlation

The correlation between FADCX and FSGEX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.95

The correlation between FADCX and FSGEX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

FADCX vs. FSGEX — Risk / Return Rank

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

FADCX

FADCX Risk / Return Rank: 23
FADCX Sharpe Ratio Rank: 20
FADCX Sortino Ratio Rank: 20
FADCX Omega Ratio Rank: 21
FADCX Calmar Ratio Rank: 23
FADCX Martin Ratio Rank: 29

FSGEX

FSGEX Risk / Return Rank: 57
FSGEX Sharpe Ratio Rank: 58
FSGEX Sortino Ratio Rank: 53
FSGEX Omega Ratio Rank: 57
FSGEX Calmar Ratio Rank: 59
FSGEX Martin Ratio Rank: 57

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.

FADCX vs. FSGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Diversified International Fund Class C (FADCX) and Fidelity Series Global ex U.S. Index Fund (FSGEX). 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.

	FADCX	FSGEX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.26	-1.01
Sortino ratio: Return per unit of downside risk	1.84	3.07	-1.23
Omega ratio: Gain probability vs. loss probability	1.23	1.42	-0.19
Calmar ratio: Return relative to maximum drawdown	1.67	2.93	-1.25
Martin ratio: Return relative to average drawdown	6.52	11.47	-4.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FADCX vs. FSGEX - Sharpe Ratio Comparison

The current FADCX Sharpe Ratio is 1.25, which is lower than the FSGEX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FADCX and FSGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FADCX	FSGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	2.26	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.57	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.61	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.41	-0.04

Drawdowns

FADCX vs. FSGEX - Drawdown Comparison

The maximum FADCX drawdown since its inception was -61.77%, which is greater than FSGEX's maximum drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for FADCX and FSGEX.

Drawdown Indicators

	FADCX	FSGEX	Difference
Max Drawdown Largest peak-to-trough decline	-61.77%	-34.74%	-27.03%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-11.24%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-14.73%	-13.34%	-1.39%
Max Drawdown (5Y) Largest decline over 5 years	-35.88%	-29.66%	-6.22%
Max Drawdown (10Y) Largest decline over 10 years	-35.88%	-34.74%	-1.14%
Current Drawdown Current decline from peak	-0.31%	-0.90%	+0.59%
Average Drawdown Average peak-to-trough decline	-14.52%	-8.44%	-6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.86%	+0.38%

Volatility

FADCX vs. FSGEX - Volatility Comparison

Fidelity Advisor Diversified International Fund Class C (FADCX) has a higher volatility of 5.97% compared to Fidelity Series Global ex U.S. Index Fund (FSGEX) at 5.04%. This indicates that FADCX's price experiences larger fluctuations and is considered to be riskier than FSGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FADCX	FSGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	5.04%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	14.32%	12.31%	+2.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.94%	14.57%	+2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.14%	15.40%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	16.22%	+0.86%

FADCX vs. FSGEX - Expense Ratio Comparison

FADCX has a 1.95% expense ratio, which is higher than FSGEX's 0.01% expense ratio.

Dividends

FADCX vs. FSGEX - Dividend Comparison

FADCX's dividend yield for the trailing twelve months is around 12.84%, more than FSGEX's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FADCX Fidelity Advisor Diversified International Fund Class C	12.84%	14.21%	5.74%	3.42%	1.92%	10.13%	0.00%	0.34%	4.01%	0.19%	0.42%	0.00%
FSGEX Fidelity Series Global ex U.S. Index Fund	2.63%	3.02%	2.98%	2.90%	2.78%	2.59%	1.68%	2.10%	2.86%	2.48%	2.56%	2.61%

Frequently Asked Questions

Can I hold both FADCX and FSGEX in my portfolio?

With a correlation of 0.95, FADCX and FSGEX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FADCX or FSGEX?

FADCX has higher volatility (5.97%) compared to FSGEX (5.04%). In terms of maximum drawdown, FADCX dropped -61.77% vs FSGEX's -34.74%.

Which has better risk-adjusted returns?

FSGEX currently has the higher Sharpe Ratio (2.26 vs 1.25), 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.