FCPIX vs. VIMAX

Last updated Jun 24, 2026

FCPIX (Fidelity Advisor International Capital Appreciation Fund Class I) and VIMAX (Vanguard Mid-Cap Index Fund Admiral Shares) are both mutual funds - FCPIX is a Foreign Large Cap Equities fund managed by Fidelity, while VIMAX is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Over the past 10 years, FCPIX returned 11.32%/yr vs 12.00%/yr for VIMAX. A 0.76 correlation means they provide meaningful diversification when combined. FCPIX charges 0.97%/yr vs 0.05%/yr for VIMAX.

Performance

FCPIX vs. VIMAX - 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 Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCPIX achieves a 14.40% return, which is significantly higher than VIMAX's 11.32% return. Over the past 10 years, FCPIX has underperformed VIMAX with an annualized return of 11.32%, while VIMAX has yielded a comparatively higher 12.00% annualized return.

FCPIX

• 1D: 0.39%
• 1M: 8.36%
• YTD: 14.40%
• 6M: 13.80%
• 1Y: 18.47%
• 3Y*: 17.41%
• 5Y*: 7.85%
• 10Y*: 11.32%

VIMAX

• 1D: 0.41%
• 1M: 3.04%
• YTD: 11.32%
• 6M: 10.01%
• 1Y: 18.73%
• 3Y*: 16.58%
• 5Y*: 8.05%
• 10Y*: 12.00%

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

FCPIX vs. VIMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCPIX Fidelity Advisor International Capital Appreciation Fund Class I	14.40%	18.68%	8.02%	27.64%	-26.55%	12.26%	22.23%	32.75%	-12.79%	35.88%
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	11.32%	11.67%	14.66%	16.53%	-18.70%	24.51%	18.18%	31.03%	-9.24%	19.26%

Correlation

The correlation between FCPIX and VIMAX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.76

The correlation between FCPIX and VIMAX has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

Return for Risk

FCPIX vs. VIMAX — Risk / Return Rank

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

FCPIX

FCPIX Risk / Return Rank: 18
FCPIX Sharpe Ratio Rank: 16
FCPIX Sortino Ratio Rank: 17
FCPIX Omega Ratio Rank: 18
FCPIX Calmar Ratio Rank: 17
FCPIX Martin Ratio Rank: 23

VIMAX

VIMAX Risk / Return Rank: 37
VIMAX Sharpe Ratio Rank: 34
VIMAX Sortino Ratio Rank: 32
VIMAX Omega Ratio Rank: 31
VIMAX Calmar Ratio Rank: 44
VIMAX Martin Ratio Rank: 46

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. VIMAX - 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 Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX). 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.

	FCPIX	VIMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.55	-0.50
Sortino ratio: Return per unit of downside risk	1.58	2.21	-0.63
Omega ratio: Gain probability vs. loss probability	1.20	1.27	-0.07
Calmar ratio: Return relative to maximum drawdown	1.37	2.44	-1.07
Martin ratio: Return relative to average drawdown	5.14	9.18	-4.04

FCPIX vs. VIMAX - Sharpe Ratio Comparison

The current FCPIX Sharpe Ratio is 1.06, which is lower than the VIMAX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FCPIX and VIMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCPIX vs. VIMAX - Drawdown Comparison

The maximum FCPIX drawdown since its inception was -67.79%, which is greater than VIMAX's maximum drawdown of -58.88%. Use the drawdown chart below to compare losses from any high point for FCPIX and VIMAX.

Drawdown Indicators

	FCPIX	VIMAX	Difference
Max Drawdown Largest peak-to-trough decline	-67.79%	-58.88%	-8.91%
Max Drawdown (1Y) Largest decline over 1 year	-14.45%	-8.13%	-6.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.28%	-18.93%	+2.65%
Max Drawdown (5Y) Largest decline over 5 years	-37.24%	-27.55%	-9.69%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-39.30%	+2.06%
Current Drawdown Current decline from peak	0.00%	-0.43%	+0.43%
Average Drawdown Average peak-to-trough decline	-15.74%	-8.10%	-7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	2.16%	+1.68%

Volatility

FCPIX vs. VIMAX - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) has a higher volatility of 8.41% compared to Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) at 4.36%. This indicates that FCPIX's price experiences larger fluctuations and is considered to be riskier than VIMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPIX	VIMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.41%	4.36%	+4.05%
Volatility (6M) Calculated over the trailing 6-month period	16.89%	9.85%	+7.04%
Volatility (1Y) Calculated over the trailing 1-year period	18.78%	12.79%	+5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.12%	17.69%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	18.95%	-0.76%

FCPIX vs. VIMAX - Expense Ratio Comparison

FCPIX has a 0.97% expense ratio, which is higher than VIMAX's 0.05% expense ratio.

Dividends

FCPIX vs. VIMAX - Dividend Comparison

FCPIX's dividend yield for the trailing twelve months is around 4.75%, more than VIMAX's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPIX Fidelity Advisor International Capital Appreciation Fund Class I	4.75%	5.44%	0.70%	0.36%	0.00%	3.79%	0.11%	0.54%	0.54%	0.21%	0.37%	0.24%
VIMAX Vanguard Mid-Cap Index Fund Admiral Shares	1.34%	1.51%	1.48%	1.50%	1.59%	1.11%	1.44%	1.47%	1.82%	1.35%	1.45%	1.47%

Frequently Asked Questions

Can I hold both FCPIX and VIMAX in my portfolio?

FCPIX and VIMAX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCPIX or VIMAX?

FCPIX has higher volatility (8.41%) compared to VIMAX (4.36%). In terms of maximum drawdown, FCPIX dropped -67.79% vs VIMAX's -58.88%.

Which has better risk-adjusted returns?

VIMAX currently has the higher Sharpe Ratio (1.55 vs 1.06), 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.