FCCNX vs. PPYPX

Last updated Jun 4, 2026

FCCNX (Fidelity Advisor Canada Fund Class C) and PPYPX (PIMCO RAE International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, FCCNX returned 9.39%/yr vs 8.89%/yr for PPYPX. A 0.77 correlation means they provide meaningful diversification when combined. FCCNX charges 1.90%/yr vs 0.60%/yr for PPYPX.

Performance

FCCNX vs. PPYPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Canada Fund Class C (FCCNX) and PIMCO RAE International Fund (PPYPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCCNX achieves a 7.49% return, which is significantly lower than PPYPX's 13.80% return. Over the past 10 years, FCCNX has outperformed PPYPX with an annualized return of 9.39%, while PPYPX has yielded a comparatively lower 8.89% annualized return.

FCCNX

• 1D: 0.84%
• 1M: 2.33%
• YTD: 7.49%
• 6M: 11.21%
• 1Y: 17.46%
• 3Y*: 16.02%
• 5Y*: 9.54%
• 10Y*: 9.39%

PPYPX

• 1D: 0.10%
• 1M: 2.11%
• YTD: 13.80%
• 6M: 12.84%
• 1Y: 28.07%
• 3Y*: 18.03%
• 5Y*: 8.51%
• 10Y*: 8.89%

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

FCCNX vs. PPYPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCCNX Fidelity Advisor Canada Fund Class C	7.49%	24.54%	8.02%	13.45%	-7.16%	25.48%	3.30%	24.51%	-15.19%	12.83%
PPYPX PIMCO RAE International Fund	13.80%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	16.43%	-15.49%	24.89%

Correlation

The correlation between FCCNX and PPYPX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.77

Over the past year, the correlation between FCCNX and PPYPX has dropped to 0.54 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

FCCNX vs. PPYPX — Risk / Return Rank

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

FCCNX

FCCNX Risk / Return Rank: 27
FCCNX Sharpe Ratio Rank: 24
FCCNX Sortino Ratio Rank: 21
FCCNX Omega Ratio Rank: 22
FCCNX Calmar Ratio Rank: 37
FCCNX Martin Ratio Rank: 33

PPYPX

PPYPX Risk / Return Rank: 58
PPYPX Sharpe Ratio Rank: 53
PPYPX Sortino Ratio Rank: 46
PPYPX Omega Ratio Rank: 49
PPYPX Calmar Ratio Rank: 80
PPYPX Martin Ratio Rank: 61

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.

FCCNX vs. PPYPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Canada Fund Class C (FCCNX) and PIMCO RAE International Fund (PPYPX). 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.

	FCCNX	PPYPX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.14	-0.74
Sortino ratio: Return per unit of downside risk	1.94	2.86	-0.92
Omega ratio: Gain probability vs. loss probability	1.25	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	2.28	3.64	-1.36
Martin ratio: Return relative to average drawdown	7.46	12.09	-4.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCCNX vs. PPYPX - Sharpe Ratio Comparison

The current FCCNX Sharpe Ratio is 1.40, which is lower than the PPYPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of FCCNX and PPYPX, 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

	FCCNX	PPYPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.14	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.44	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.47	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.47	-0.22

Drawdowns

FCCNX vs. PPYPX - Drawdown Comparison

The maximum FCCNX drawdown since its inception was -58.44%, which is greater than PPYPX's maximum drawdown of -42.48%. Use the drawdown chart below to compare losses from any high point for FCCNX and PPYPX.

Drawdown Indicators

	FCCNX	PPYPX	Difference
Max Drawdown Largest peak-to-trough decline	-58.44%	-42.48%	-15.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.68%	-7.48%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-12.38%	-14.00%	+1.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.39%	-35.65%	+14.26%
Max Drawdown (10Y) Largest decline over 10 years	-39.97%	-42.48%	+2.51%
Current Drawdown Current decline from peak	-0.79%	-1.46%	+0.67%
Average Drawdown Average peak-to-trough decline	-13.31%	-10.15%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.25%	+0.10%

Volatility

FCCNX vs. PPYPX - Volatility Comparison

The current volatility for Fidelity Advisor Canada Fund Class C (FCCNX) is 2.76%, while PIMCO RAE International Fund (PPYPX) has a volatility of 3.03%. This indicates that FCCNX experiences smaller price fluctuations and is considered to be less risky than PPYPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCCNX	PPYPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	3.03%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	9.88%	9.93%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	12.77%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	19.54%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.43%	19.02%	-1.59%

FCCNX vs. PPYPX - Expense Ratio Comparison

FCCNX has a 1.90% expense ratio, which is higher than PPYPX's 0.60% expense ratio.

Dividends

FCCNX vs. PPYPX - Dividend Comparison

FCCNX's dividend yield for the trailing twelve months is around 4.36%, less than PPYPX's 6.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCCNX Fidelity Advisor Canada Fund Class C	4.36%	4.69%	6.15%	2.29%	2.74%	3.65%	1.40%	3.06%	6.14%	0.91%	0.61%	0.15%
PPYPX PIMCO RAE International Fund	6.84%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%	0.00%

Frequently Asked Questions

Can I hold both FCCNX and PPYPX in my portfolio?

FCCNX and PPYPX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCCNX or PPYPX?

PPYPX has higher volatility (3.03%) compared to FCCNX (2.76%). In terms of maximum drawdown, FCCNX dropped -58.44% vs PPYPX's -42.48%.

Which has better risk-adjusted returns?

PPYPX currently has the higher Sharpe Ratio (2.14 vs 1.40), 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.