FDT vs. FIDZX

Last updated Jun 23, 2026

FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and FIDZX (Fidelity Advisor International Capital Appreciation Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 5 years, FDT returned 13.51%/yr vs 8.10%/yr for FIDZX. Their correlation of 0.82 suggests significant overlap in exposure. FDT charges 0.80%/yr vs 0.85%/yr for FIDZX.

Performance

FDT vs. FIDZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Developed Markets ex-US AlphaDEX Fund (FDT) and Fidelity Advisor International Capital Appreciation Fund Class Z (FIDZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDT achieves a 26.09% return, which is significantly higher than FIDZX's 14.00% return.

FDT

• 1D: 0.40%
• 1M: 2.82%
• YTD: 26.09%
• 6M: 26.12%
• 1Y: 54.27%
• 3Y*: 29.97%
• 5Y*: 13.51%
• 10Y*: 11.64%

FIDZX

• 1D: 2.50%
• 1M: 7.95%
• YTD: 14.00%
• 6M: 13.85%
• 1Y: 19.38%
• 3Y*: 16.37%
• 5Y*: 8.10%
• 10Y*: —

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

FDT vs. FIDZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDT First Trust Developed Markets ex-US AlphaDEX Fund	26.09%	52.21%	6.97%	15.03%	-19.51%	11.43%	4.29%	16.82%	-19.98%	26.63%
FIDZX Fidelity Advisor International Capital Appreciation Fund Class Z	14.00%	18.83%	8.15%	27.79%	-26.45%	12.40%	22.36%	32.97%	-12.72%	28.67%

Correlation

The correlation between FDT and FIDZX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017	0.82

The correlation between FDT and FIDZX has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

FDT vs. FIDZX - Sectors Allocation Comparison

Sectors	FDT	FIDZX
Industrials	32.4%	35.5%
Technology	12.1%	23.2%
Consumer Cyclical	11.9%	2.7%
Financial Services	9.9%	25.3%
Basic Materials	9.4%	6.9%
Energy	7.9%	1.5%
Real Estate	5.0%	-
Utilities	4.8%	1.9%
Communication Services	2.8%	1.3%
Consumer Defensive	2.5%	3.3%
Healthcare	1.3%	1.5%

Return for Risk

FDT vs. FIDZX — Risk / Return Rank

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

FDT

FDT Risk / Return Rank: 84
FDT Sharpe Ratio Rank: 88
FDT Sortino Ratio Rank: 83
FDT Omega Ratio Rank: 86
FDT Calmar Ratio Rank: 81
FDT Martin Ratio Rank: 80

FIDZX

FIDZX Risk / Return Rank: 17
FIDZX Sharpe Ratio Rank: 14
FIDZX Sortino Ratio Rank: 15
FIDZX Omega Ratio Rank: 16
FIDZX Calmar Ratio Rank: 16
FIDZX Martin Ratio Rank: 21

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.

FDT vs. FIDZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US AlphaDEX Fund (FDT) and Fidelity Advisor International Capital Appreciation Fund Class Z (FIDZX). 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.

	FDT	FIDZX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.01	+1.76
Sortino ratio: Return per unit of downside risk	3.53	1.52	+2.01
Omega ratio: Gain probability vs. loss probability	1.50	1.20	+0.30
Calmar ratio: Return relative to maximum drawdown	4.07	1.32	+2.75
Martin ratio: Return relative to average drawdown	15.38	4.94	+10.44

FDT vs. FIDZX - Sharpe Ratio Comparison

The current FDT Sharpe Ratio is 2.77, which is higher than the FIDZX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of FDT and FIDZX, 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

FDT vs. FIDZX - Drawdown Comparison

The maximum FDT drawdown since its inception was -46.10%, which is greater than FIDZX's maximum drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for FDT and FIDZX.

Drawdown Indicators

	FDT	FIDZX	Difference
Max Drawdown Largest peak-to-trough decline	-46.10%	-37.17%	-8.93%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-14.44%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	-16.24%	+1.95%
Max Drawdown (5Y) Largest decline over 5 years	-32.80%	-37.17%	+4.37%
Max Drawdown (10Y) Largest decline over 10 years	-46.10%	—	—
Current Drawdown Current decline from peak	-1.13%	0.00%	-1.13%
Average Drawdown Average peak-to-trough decline	-10.75%	-7.51%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	3.84%	-0.30%

Volatility

FDT vs. FIDZX - Volatility Comparison

First Trust Developed Markets ex-US AlphaDEX Fund (FDT) and Fidelity Advisor International Capital Appreciation Fund Class Z (FIDZX) have volatilities of 8.64% and 8.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDT	FIDZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.64%	8.63%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	17.40%	16.95%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.71%	18.77%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.47%	19.11%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.62%	18.46%	+0.16%

FDT vs. FIDZX - Expense Ratio Comparison

FDT has a 0.80% expense ratio, which is lower than FIDZX's 0.85% expense ratio.

Dividends

FDT vs. FIDZX - Dividend Comparison

FDT's dividend yield for the trailing twelve months is around 2.82%, less than FIDZX's 4.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.82%	3.27%	3.89%	4.36%	2.29%	3.80%	2.42%	2.78%	2.13%	1.57%	1.76%	1.83%
FIDZX Fidelity Advisor International Capital Appreciation Fund Class Z	4.88%	5.57%	0.84%	0.46%	0.00%	3.90%	0.19%	0.63%	0.67%	0.28%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDT and FIDZX in my portfolio?

FDT and FIDZX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDT or FIDZX?

FDT has higher volatility (8.64%) compared to FIDZX (8.63%). In terms of maximum drawdown, FDT dropped -46.10% vs FIDZX's -37.17%.

Which has better risk-adjusted returns?

FDT currently has the higher Sharpe Ratio (2.77 vs 1.01), 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.