FCPIX vs. EFG

Last updated Jun 4, 2026

FCPIX (Fidelity Advisor International Capital Appreciation Fund Class I) and EFG (iShares MSCI EAFE Growth ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, FCPIX returned 10.33%/yr vs 7.96%/yr for EFG. Their correlation of 0.92 suggests significant overlap in exposure. FCPIX charges 0.97%/yr vs 0.40%/yr for EFG.

Performance

FCPIX vs. EFG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) and iShares MSCI EAFE Growth ETF (EFG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCPIX achieves a 10.17% return, which is significantly higher than EFG's 7.91% return. Over the past 10 years, FCPIX has outperformed EFG with an annualized return of 10.33%, while EFG has yielded a comparatively lower 7.96% annualized return.

FCPIX

• 1D: 1.10%
• 1M: 5.86%
• YTD: 10.17%
• 6M: 12.65%
• 1Y: 13.83%
• 3Y*: 15.86%
• 5Y*: 7.24%
• 10Y*: 10.33%

EFG

• 1D: -0.78%
• 1M: 4.62%
• YTD: 7.91%
• 6M: 9.06%
• 1Y: 14.40%
• 3Y*: 10.91%
• 5Y*: 4.23%
• 10Y*: 7.96%

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

FCPIX vs. EFG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCPIX Fidelity Advisor International Capital Appreciation Fund Class I	10.17%	18.68%	8.02%	27.64%	-26.55%	12.26%	22.23%	32.75%	-12.79%	35.88%
EFG iShares MSCI EAFE Growth ETF	7.91%	20.70%	1.53%	17.55%	-23.12%	11.01%	17.85%	27.47%	-12.93%	28.86%

Correlation

The correlation between FCPIX and EFG is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
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 Aug 8, 2005	0.92

The correlation between FCPIX and EFG has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

FCPIX vs. EFG — Risk / Return Rank

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

FCPIX

FCPIX Risk / Return Rank: 10
FCPIX Sharpe Ratio Rank: 10
FCPIX Sortino Ratio Rank: 10
FCPIX Omega Ratio Rank: 10
FCPIX Calmar Ratio Rank: 9
FCPIX Martin Ratio Rank: 12

EFG

EFG Risk / Return Rank: 25
EFG Sharpe Ratio Rank: 23
EFG Sortino Ratio Rank: 24
EFG Omega Ratio Rank: 22
EFG Calmar Ratio Rank: 24
EFG Martin Ratio Rank: 29

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.

FCPIX vs. EFG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) and iShares MSCI EAFE Growth ETF (EFG). 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.

	FCPIX	EFG	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.85	-0.06
Sortino ratio Return per unit of downside risk	1.24	1.32	-0.08
Omega ratio Gain probability vs. loss probability	1.15	1.16	0.00
Calmar ratio Return relative to maximum drawdown	0.94	1.13	-0.19
Martin ratio Return relative to average drawdown	3.56	4.17	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPIX vs. EFG - Sharpe Ratio Comparison

The current FCPIX Sharpe Ratio is 0.79, which is comparable to the EFG Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FCPIX and EFG, 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

	FCPIX	EFG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.85	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.23	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.45	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.29	+0.09

Drawdowns

FCPIX vs. EFG - Drawdown Comparison

The maximum FCPIX drawdown since its inception was -67.79%, which is greater than EFG's maximum drawdown of -58.40%. Use the drawdown chart below to compare losses from any high point for FCPIX and EFG.

Drawdown Indicators

	FCPIX	EFG	Difference
Max Drawdown Largest peak-to-trough decline	-67.79%	-58.40%	-9.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.45%	-12.78%	-1.67%
Max Drawdown (3Y) Largest decline over 3 years	-16.28%	-16.87%	+0.59%
Max Drawdown (5Y) Largest decline over 5 years	-37.24%	-35.78%	-1.46%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-35.78%	-1.46%
Current Drawdown Current decline from peak	0.00%	-0.78%	+0.78%
Average Drawdown Average peak-to-trough decline	-15.77%	-12.16%	-3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.46%	+0.34%

Volatility

FCPIX vs. EFG - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) has a higher volatility of 6.61% compared to iShares MSCI EAFE Growth ETF (EFG) at 5.88%. This indicates that FCPIX's price experiences larger fluctuations and is considered to be riskier than EFG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPIX	EFG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	5.88%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	14.36%	+0.69%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	17.08%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.80%	18.11%	+0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	17.69%	+0.37%

FCPIX vs. EFG - Expense Ratio Comparison

FCPIX has a 0.97% expense ratio, which is higher than EFG's 0.40% expense ratio.

Dividends

FCPIX vs. EFG - Dividend Comparison

FCPIX's dividend yield for the trailing twelve months is around 4.94%, more than EFG's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFG iShares MSCI EAFE Growth ETF	2.34%	2.53%	1.64%	1.63%	1.27%	1.54%	0.85%	1.69%	1.98%	1.56%	2.20%	1.75%
FCPIX Fidelity Advisor International Capital Appreciation Fund Class I	4.94%	5.44%	0.70%	0.36%	0.00%	3.79%	0.11%	0.54%	0.54%	0.21%	0.37%	0.24%

Frequently Asked Questions

Can I hold both FCPIX and EFG in my portfolio?

With a correlation of 0.91, FCPIX and EFG 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, FCPIX or EFG?

FCPIX has higher volatility (6.61%) compared to EFG (5.88%). In terms of maximum drawdown, FCPIX dropped -67.79% vs EFG's -58.40%.

Which has better risk-adjusted returns?

EFG currently has the higher Sharpe Ratio (0.85 vs 0.79), 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.