FAPCX vs. FSPSX
FAPCX (Fidelity International Capital Appreciation K6 Fund) and FSPSX (Fidelity International Index Fund) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FAPCX returned 5.67%/yr vs 9.66%/yr for FSPSX. Their correlation of 0.88 means they have usually moved in the same direction. FAPCX charges 0.65%/yr vs 0.04%/yr for FSPSX.
Performance
FAPCX vs. FSPSX - Performance Comparison
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Returns By Period
In the year-to-date period, FAPCX achieves a 4.92% return, which is significantly lower than FSPSX's 12.57% return.
FAPCX
- 1D
- 4.50%
- 1M
- -3.68%
- 6M
- 0.27%
- YTD
- 4.92%
- 1Y
- 7.69%
- 3Y*
- 13.08%
- 5Y*
- 5.67%
- 10Y*
- —
- ALL TIME*
- 9.84%
FSPSX
- 1D
- 2.56%
- 1M
- 1.98%
- 6M
- 7.21%
- YTD
- 12.57%
- 1Y
- 26.28%
- 3Y*
- 16.54%
- 5Y*
- 9.66%
- 10Y*
- 9.69%
- ALL TIME*
- 8.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FAPCX vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAPCX Fidelity International Capital Appreciation K6 Fund | 4.92% | 18.82% | 8.28% | 27.54% | -26.25% | 12.43% | 22.82% | 33.52% | -12.55% | 15.61% |
FSPSX Fidelity International Index Fund | 12.57% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 22.03% | -13.55% | 9.33% |
Correlation
The correlation between FAPCX and FSPSX is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 25, 2017 | 0.88 |
The correlation between FAPCX and FSPSX has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.
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Return for Risk
FAPCX vs. FSPSX — Risk / Return Rank
FAPCX
FSPSX
FAPCX vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International Capital Appreciation K6 Fund (FAPCX) and Fidelity International Index Fund (FSPSX). 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.
| FAPCX | FSPSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.29 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.20 | -1.79 |
| Martin ratioReturn relative to average drawdown | 1.35 | 8.33 | -6.98 |
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Drawdowns
FAPCX vs. FSPSX - Drawdown Comparison
The maximum FAPCX drawdown since its inception was -37.09%, which is greater than FSPSX's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FAPCX and FSPSX.
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Drawdown Indicators
| FAPCX | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.09% | -33.69% | -3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.45% | -11.39% | -3.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.28% | -13.58% | -2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -37.09% | -29.41% | -7.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.69% | — |
Current DrawdownCurrent decline from peak | -8.30% | 0.00% | -8.30% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -6.49% | -1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 3.00% | +1.34% |
Volatility
FAPCX vs. FSPSX - Volatility Comparison
Fidelity International Capital Appreciation K6 Fund (FAPCX) has a higher volatility of 8.74% compared to Fidelity International Index Fund (FSPSX) at 4.57%. This indicates that FAPCX's price experiences larger fluctuations and is considered to be riskier than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAPCX | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.74% | 4.57% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 19.35% | 13.22% | +6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.09% | 15.52% | +5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.54% | 16.12% | +3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 16.29% | +2.62% |
FAPCX vs. FSPSX - Expense Ratio Comparison
FAPCX has a 0.65% expense ratio, which is higher than FSPSX's 0.04% expense ratio.
Dividends
FAPCX vs. FSPSX - Dividend Comparison
FAPCX's dividend yield for the trailing twelve months is around 9.03%, more than FSPSX's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAPCX Fidelity International Capital Appreciation K6 Fund | 9.03% | 9.48% | 2.94% | 0.42% | 0.40% | 8.83% | 0.41% | 0.87% | 0.81% | 1.95% | 0.00% | 0.00% |
FSPSX Fidelity International Index Fund | 2.80% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Frequently Asked Questions
FAPCX and FSPSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAPCX has higher volatility (8.74%) compared to FSPSX (4.57%). In terms of maximum drawdown, FAPCX dropped -37.09% vs FSPSX's -33.69%.
FSPSX currently has the higher Sharpe Ratio (1.62 vs 0.28), 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.
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