FDEM vs. FSPSX
Compare and contrast key facts about Fidelity Emerging Markets Multifactor ETF (FDEM) and Fidelity International Index Fund (FSPSX).
FDEM is a passively managed fund by Fidelity that tracks the performance of the Fidelity Targeted Emerging Markets Factor Index. It was launched on Feb 26, 2019. FSPSX is a passively managed fund by Fidelity that tracks the performance of the MSCI ACWI ex USA IMI Index. It was launched on Nov 5, 1997. Both FDEM and FSPSX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FDEM vs. FSPSX - Performance Comparison
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FDEM vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 2.77% | 26.75% | 9.34% | 17.26% | -13.11% | -3.52% | 8.87% | 5.73% |
FSPSX Fidelity International Index Fund | -1.94% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 11.81% |
Returns By Period
In the year-to-date period, FDEM achieves a 2.77% return, which is significantly higher than FSPSX's -1.94% return.
FDEM
- 1D
- 3.24%
- 1M
- -8.84%
- YTD
- 2.77%
- 6M
- 6.29%
- 1Y
- 27.87%
- 3Y*
- 17.22%
- 5Y*
- 6.52%
- 10Y*
- —
FSPSX
- 1D
- 0.42%
- 1M
- -10.86%
- YTD
- -1.94%
- 6M
- 2.58%
- 1Y
- 19.89%
- 3Y*
- 13.50%
- 5Y*
- 7.96%
- 10Y*
- 8.65%
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FDEM vs. FSPSX - Expense Ratio Comparison
FDEM has a 0.45% expense ratio, which is higher than FSPSX's 0.04% expense ratio.
Return for Risk
FDEM vs. FSPSX — Risk / Return Rank
FDEM
FSPSX
FDEM vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Multifactor ETF (FDEM) and Fidelity International Index Fund (FSPSX). 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.
| FDEM | FSPSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.54 | 1.11 | +0.43 |
Sortino ratioReturn per unit of downside risk | 2.11 | 1.56 | +0.55 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.23 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.18 | 1.54 | +0.64 |
Martin ratioReturn relative to average drawdown | 8.58 | 5.93 | +2.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDEM | FSPSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.11 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.51 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.46 | -0.06 |
Correlation
The correlation between FDEM and FSPSX is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FDEM vs. FSPSX - Dividend Comparison
FDEM's dividend yield for the trailing twelve months is around 3.17%, less than FSPSX's 3.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDEM Fidelity Emerging Markets Multifactor ETF | 3.17% | 3.23% | 4.05% | 4.41% | 3.95% | 2.71% | 1.84% | 2.39% | 0.00% | 0.00% | 0.00% | 0.00% |
FSPSX Fidelity International Index Fund | 3.22% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Drawdowns
FDEM vs. FSPSX - Drawdown Comparison
The maximum FDEM drawdown since its inception was -33.65%, roughly equal to the maximum FSPSX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FDEM and FSPSX.
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Drawdown Indicators
| FDEM | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.65% | -33.69% | +0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -11.39% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -29.19% | -29.41% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.69% | — |
Current DrawdownCurrent decline from peak | -9.87% | -10.86% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -6.59% | -2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.96% | +0.26% |
Volatility
FDEM vs. FSPSX - Volatility Comparison
Fidelity Emerging Markets Multifactor ETF (FDEM) has a higher volatility of 9.54% compared to Fidelity International Index Fund (FSPSX) at 7.04%. This indicates that FDEM's price experiences larger fluctuations and is considered to be riskier than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDEM | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.54% | 7.04% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 13.16% | 10.63% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.15% | 16.79% | +1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 15.77% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.76% | 16.47% | +1.29% |