FCDSX vs. SAXIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series International Credit Fund (FCDSX) and SA Global Fixed Income Fund (SAXIX).

FCDSX is managed by Fidelity. It was launched on Jul 25, 2017. SAXIX is managed by SA Funds. It was launched on Jul 28, 1999.

Performance

FCDSX vs. SAXIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series International Credit Fund (FCDSX) and SA Global Fixed Income Fund (SAXIX). The values are adjusted to include any dividend payments, if applicable.

FCDSX vs. SAXIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCDSX Fidelity Series International Credit Fund	-0.47%	7.22%	8.47%	7.64%	-17.34%	-0.07%	8.34%	13.86%	-1.04%	1.91%
SAXIX SA Global Fixed Income Fund	0.12%	4.87%	5.33%	4.55%	-6.79%	-1.59%	0.89%	3.40%	1.17%	-0.07%

Returns By Period

In the year-to-date period, FCDSX achieves a -0.47% return, which is significantly lower than SAXIX's 0.12% return.

FCDSX

• 1D: 0.36%
• 1M: -2.44%
• YTD: -0.47%
• 6M: 0.79%
• 1Y: 4.94%
• 3Y*: 7.23%
• 5Y*: 0.98%
• 10Y*: —

SAXIX

• 1D: 0.23%
• 1M: -1.36%
• YTD: 0.12%
• 6M: 0.60%
• 1Y: 3.44%
• 3Y*: 4.50%
• 5Y*: 1.22%
• 10Y*: 1.19%

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

FCDSX vs. SAXIX - Expense Ratio Comparison

FCDSX has a 0.00% expense ratio, which is lower than SAXIX's 0.71% expense ratio.

SAXIX

SA Global Fixed Income Fund

FCDSX

Fidelity Series International Credit Fund

Return for Risk

FCDSX vs. SAXIX — Risk / Return Rank

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

FCDSX

FCDSX Risk / Return Rank: 83
FCDSX Sharpe Ratio Rank: 86
FCDSX Sortino Ratio Rank: 86
FCDSX Omega Ratio Rank: 80
FCDSX Calmar Ratio Rank: 80
FCDSX Martin Ratio Rank: 84

SAXIX

SAXIX Risk / Return Rank: 90
SAXIX Sharpe Ratio Rank: 89
SAXIX Sortino Ratio Rank: 92
SAXIX Omega Ratio Rank: 88
SAXIX Calmar Ratio Rank: 91
SAXIX Martin Ratio Rank: 89

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.

FCDSX vs. SAXIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Credit Fund (FCDSX) and SA Global Fixed Income Fund (SAXIX). 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.

	FCDSX	SAXIX	Difference
Sharpe ratio Return per unit of total volatility	1.66	1.80	-0.14
Sortino ratio Return per unit of downside risk	2.33	2.74	-0.41
Omega ratio Gain probability vs. loss probability	1.31	1.38	-0.06
Calmar ratio Return relative to maximum drawdown	1.91	2.69	-0.78
Martin ratio Return relative to average drawdown	8.64	9.77	-1.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCDSX vs. SAXIX - Sharpe Ratio Comparison

The current FCDSX Sharpe Ratio is 1.66, which is comparable to the SAXIX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of FCDSX and SAXIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCDSX	SAXIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.80	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.46	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.64	+0.06

Correlation

The correlation between FCDSX and SAXIX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FCDSX vs. SAXIX - Dividend Comparison

FCDSX's dividend yield for the trailing twelve months is around 4.60%, less than SAXIX's 4.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCDSX Fidelity Series International Credit Fund	4.60%	4.58%	4.81%	3.67%	6.73%	3.04%	6.58%	7.12%	4.17%	1.90%	0.00%	0.00%
SAXIX SA Global Fixed Income Fund	4.84%	4.85%	6.01%	0.00%	3.58%	0.00%	2.16%	2.83%	2.11%	0.85%	1.25%	0.80%

Drawdowns

FCDSX vs. SAXIX - Drawdown Comparison

The maximum FCDSX drawdown since its inception was -22.33%, which is greater than SAXIX's maximum drawdown of -9.94%. Use the drawdown chart below to compare losses from any high point for FCDSX and SAXIX.

Drawdown Indicators

	FCDSX	SAXIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.33%	-9.94%	-12.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-1.59%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-9.94%	-12.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-9.94%	—
Current Drawdown Current decline from peak	-2.44%	-1.36%	-1.08%
Average Drawdown Average peak-to-trough decline	-5.14%	-1.92%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.44%	+0.17%

Volatility

FCDSX vs. SAXIX - Volatility Comparison

Fidelity Series International Credit Fund (FCDSX) has a higher volatility of 1.29% compared to SA Global Fixed Income Fund (SAXIX) at 0.84%. This indicates that FCDSX's price experiences larger fluctuations and is considered to be riskier than SAXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCDSX	SAXIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	0.84%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	1.94%	1.30%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	2.36%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.41%	2.70%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.14%	2.07%	+2.07%