FCDSX vs. DFSHX
FCDSX (Fidelity Series International Credit Fund) and DFSHX (DFA Selectively Hedged Global Fixed Income Portfolio) are both Global Bonds funds. Over the past 5 years, FCDSX returned 0.35%/yr vs 1.91%/yr for DFSHX. Their 0.54 correlation means they have sometimes moved together and sometimes differently. FCDSX charges 0.00%/yr vs 0.16%/yr for DFSHX.
Performance
FCDSX vs. DFSHX - Performance Comparison
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Returns By Period
In the year-to-date period, FCDSX achieves a -0.45% return, which is significantly lower than DFSHX's 1.62% return.
FCDSX
- 1D
- -0.12%
- 1M
- -2.00%
- 6M
- -1.04%
- YTD
- -0.45%
- 1Y
- 1.89%
- 3Y*
- 7.06%
- 5Y*
- 0.35%
- 10Y*
- —
- ALL TIME*
- 2.78%
DFSHX
- 1D
- 0.00%
- 1M
- 0.11%
- 6M
- 0.97%
- YTD
- 1.62%
- 1Y
- 3.39%
- 3Y*
- 4.91%
- 5Y*
- 1.91%
- 10Y*
- 1.98%
- ALL TIME*
- 1.46%
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 |
FCDSX vs. DFSHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCDSX Fidelity Series International Credit Fund | -0.45% | 7.22% | 8.47% | 7.64% | -17.34% | -0.07% | 8.34% | 13.86% | -1.04% | 1.91% |
DFSHX DFA Selectively Hedged Global Fixed Income Portfolio | 1.62% | 4.84% | 5.66% | 5.55% | -6.24% | -0.82% | 2.33% | 4.82% | 1.83% | -0.45% |
Correlation
The correlation between FCDSX and DFSHX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2017 | 0.54 |
The correlation between FCDSX and DFSHX shifts across timeframes, from 0.40 (3 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FCDSX vs. DFSHX — Risk / Return Rank
FCDSX
DFSHX
FCDSX vs. DFSHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Credit Fund (FCDSX) and DFA Selectively Hedged Global Fixed Income Portfolio (DFSHX). 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.
| FCDSX | DFSHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.51 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.66 | -1.85 |
| Martin ratioReturn relative to average drawdown | 2.07 | 10.31 | -8.25 |
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Drawdowns
FCDSX vs. DFSHX - Drawdown Comparison
The maximum FCDSX drawdown since its inception was -22.33%, which is greater than DFSHX's maximum drawdown of -9.58%. Use the drawdown chart below to compare losses from any high point for FCDSX and DFSHX.
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Drawdown Indicators
| FCDSX | DFSHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.33% | -9.58% | -12.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -1.28% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -4.18% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -22.33% | -9.49% | -12.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.58% | — |
Current DrawdownCurrent decline from peak | -2.41% | -0.11% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -2.27% | -2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 0.33% | +0.76% |
Volatility
FCDSX vs. DFSHX - Volatility Comparison
Fidelity Series International Credit Fund (FCDSX) has a higher volatility of 1.25% compared to DFA Selectively Hedged Global Fixed Income Portfolio (DFSHX) at 0.58%. This indicates that FCDSX's price experiences larger fluctuations and is considered to be riskier than DFSHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCDSX | DFSHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.58% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 1.49% | +1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 1.65% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.46% | 3.38% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.12% | 2.64% | +1.48% |
FCDSX vs. DFSHX - Expense Ratio Comparison
FCDSX has a 0.00% expense ratio, which is lower than DFSHX's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FCDSX vs. DFSHX - Dividend Comparison
FCDSX's dividend yield for the trailing twelve months is around 3.23%, less than DFSHX's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFSHX DFA Selectively Hedged Global Fixed Income Portfolio | 4.19% | 4.26% | 4.50% | 3.90% | 0.04% | 1.77% | 0.03% | 2.52% | 3.23% | 1.75% | 1.63% | 1.11% |
FCDSX Fidelity Series International Credit Fund | 3.23% | 4.58% | 4.81% | 3.67% | 6.73% | 3.04% | 6.58% | 7.12% | 4.17% | 1.90% | 0.00% | 0.00% |
Frequently Asked Questions
FCDSX and DFSHX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCDSX has higher volatility (1.25%) compared to DFSHX (0.58%). In terms of maximum drawdown, FCDSX dropped -22.33% vs DFSHX's -9.58%.
DFSHX currently has the higher Sharpe Ratio (2.08 vs 0.73), 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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