FDIS vs. DFIS

Last updated Jun 14, 2026

FDIS (Fidelity MSCI Consumer Discretionary Index ETF) and DFIS (Dimensional International Small Cap ETF) are both exchange-traded funds - FDIS is a Consumer Discretionary Equities fund tracking the MSCI USA IMI Consumer Discretionary Index, while DFIS is a Foreign Small & Mid Cap Equities fund actively managed by Dimensional. FDIS is passively managed, while DFIS is actively managed. Over the past 3 years, FDIS returned 13.37%/yr vs 18.52%/yr for DFIS. A 0.66 correlation means they provide meaningful diversification when combined. FDIS charges 0.08%/yr vs 0.39%/yr for DFIS.

Performance

FDIS vs. DFIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and Dimensional International Small Cap ETF (DFIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIS achieves a 0.01% return, which is significantly lower than DFIS's 10.06% return.

FDIS

• 1D: 0.20%
• 1M: 2.10%
• YTD: 0.01%
• 6M: -1.14%
• 1Y: 12.39%
• 3Y*: 13.37%
• 5Y*: 6.04%
• 10Y*: 13.98%

DFIS

• 1D: 0.57%
• 1M: 0.95%
• YTD: 10.06%
• 6M: 12.14%
• 1Y: 26.57%
• 3Y*: 18.52%
• 5Y*: —
• 10Y*: —

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

FDIS vs. DFIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.01%	5.67%	24.43%	40.48%	-27.02%
DFIS Dimensional International Small Cap ETF	10.06%	37.49%	3.80%	15.19%	-12.50%

Correlation

The correlation between FDIS and DFIS is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (All Time) Calculated using the full available price history since Mar 24, 2022	0.66

The correlation between FDIS and DFIS has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

FDIS vs. DFIS - Sectors Allocation Comparison

Sectors	FDIS	DFIS
Consumer Cyclical	96.7%	13.5%
Consumer Defensive	1.1%	5.0%
Technology	1.0%	9.8%
Industrials	0.9%	24.1%
Communication Services	0.3%	3.7%
Healthcare	0.1%	5.3%
Real Estate	0.1%	3.5%
Financial Services	0.1%	11.7%
Basic Materials	-	14.6%
Energy	-	5.6%
Utilities	-	3.2%

Return for Risk

FDIS vs. DFIS — Risk / Return Rank

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

FDIS

FDIS Risk / Return Rank: 20
FDIS Sharpe Ratio Rank: 21
FDIS Sortino Ratio Rank: 20
FDIS Omega Ratio Rank: 19
FDIS Calmar Ratio Rank: 19
FDIS Martin Ratio Rank: 21

DFIS

DFIS Risk / Return Rank: 53
DFIS Sharpe Ratio Rank: 57
DFIS Sortino Ratio Rank: 56
DFIS Omega Ratio Rank: 55
DFIS Calmar Ratio Rank: 46
DFIS Martin Ratio Rank: 51

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.

FDIS vs. DFIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and Dimensional International Small Cap ETF (DFIS). 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.

	FDIS	DFIS	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.67	-1.06
Sortino ratio: Return per unit of downside risk	0.97	2.35	-1.38
Omega ratio: Gain probability vs. loss probability	1.11	1.30	-0.18
Calmar ratio: Return relative to maximum drawdown	0.72	2.02	-1.29
Martin ratio: Return relative to average drawdown	2.24	7.69	-5.45

FDIS vs. DFIS - Sharpe Ratio Comparison

The current FDIS Sharpe Ratio is 0.61, which is lower than the DFIS Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of FDIS and DFIS, 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

FDIS vs. DFIS - Drawdown Comparison

The maximum FDIS drawdown since its inception was -39.16%, which is greater than DFIS's maximum drawdown of -27.23%. Use the drawdown chart below to compare losses from any high point for FDIS and DFIS.

Drawdown Indicators

	FDIS	DFIS	Difference
Max Drawdown Largest peak-to-trough decline	-39.16%	-27.23%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-12.44%	-3.06%
Max Drawdown (3Y) Largest decline over 3 years	-27.43%	-13.55%	-13.88%
Max Drawdown (5Y) Largest decline over 5 years	-39.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	—	—
Current Drawdown Current decline from peak	-4.58%	-2.10%	-2.48%
Average Drawdown Average peak-to-trough decline	-7.49%	-6.15%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	3.27%	+1.74%

Volatility

FDIS vs. DFIS - Volatility Comparison

Fidelity MSCI Consumer Discretionary Index ETF (FDIS) has a higher volatility of 6.19% compared to Dimensional International Small Cap ETF (DFIS) at 5.44%. This indicates that FDIS's price experiences larger fluctuations and is considered to be riskier than DFIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIS	DFIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	5.44%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	13.44%	12.66%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.52%	15.05%	+3.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.92%	17.37%	+6.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.32%	17.37%	+4.95%

FDIS vs. DFIS - Expense Ratio Comparison

FDIS has a 0.08% expense ratio, which is lower than DFIS's 0.39% expense ratio.

Dividends

FDIS vs. DFIS - Dividend Comparison

FDIS's dividend yield for the trailing twelve months is around 0.73%, less than DFIS's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIS Dimensional International Small Cap ETF	2.02%	2.23%	2.19%	2.36%	1.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.73%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%

Frequently Asked Questions

Can I hold both FDIS and DFIS in my portfolio?

FDIS and DFIS have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIS or DFIS?

FDIS has higher volatility (6.19%) compared to DFIS (5.44%). In terms of maximum drawdown, FDIS dropped -39.16% vs DFIS's -27.23%.

Which ETF is better, FDIS or DFIS?

On 3-year performance, DFIS leads with 18.52% vs 13.37% for FDIS. On fees, FDIS is cheaper at 0.08% per year. On volatility, DFIS has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIS or DFIS?

Over the 3-year period, DFIS has performed better with a 18.52% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIS or DFIS?

FDIS is cheaper with a 0.08% expense ratio, compared with 0.39% for DFIS.

Which ETF pays a higher dividend yield, FDIS or DFIS?

DFIS has the higher dividend yield at 2.02%, compared with 0.73% for FDIS.

What is the main difference between FDIS and DFIS?

FDIS is categorized as Consumer Discretionary Equities, while DFIS is Foreign Small & Mid Cap Equities. They also come from different issuers: Fidelity and Dimensional. Their fees differ too: 0.08% for FDIS and 0.39% for DFIS.

Which has better risk-adjusted returns?

DFIS currently has the higher Sharpe Ratio (1.67 vs 0.61), 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.