FEDCX vs. IXUS

Last updated Jun 4, 2026

FEDCX (Fidelity Series Emerging Markets Debt Fund) and IXUS (iShares Core MSCI Total International Stock ETF) are both funds - FEDCX is a Emerging Markets Bonds fund managed by Fidelity, while IXUS is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA Investable Market Index. Over the past 10 years, FEDCX returned 4.40%/yr vs 9.78%/yr for IXUS. At a 0.37 correlation, their price movements are largely independent. FEDCX charges 0.00%/yr vs 0.09%/yr for IXUS.

Performance

FEDCX vs. IXUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Emerging Markets Debt Fund (FEDCX) and iShares Core MSCI Total International Stock ETF (IXUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEDCX achieves a 4.03% return, which is significantly lower than IXUS's 14.51% return. Over the past 10 years, FEDCX has underperformed IXUS with an annualized return of 4.40%, while IXUS has yielded a comparatively higher 9.78% annualized return.

FEDCX

• 1D: 0.35%
• 1M: 1.18%
• YTD: 4.03%
• 6M: 4.70%
• 1Y: 15.94%
• 3Y*: 12.26%
• 5Y*: 3.84%
• 10Y*: 4.40%

IXUS

• 1D: -1.01%
• 1M: 4.91%
• YTD: 14.51%
• 6M: 17.16%
• 1Y: 32.15%
• 3Y*: 19.44%
• 5Y*: 8.38%
• 10Y*: 9.78%

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

FEDCX vs. IXUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEDCX Fidelity Series Emerging Markets Debt Fund	4.03%	14.91%	7.39%	11.92%	-16.08%	-1.28%	4.78%	10.50%	-4.55%	10.59%
IXUS iShares Core MSCI Total International Stock ETF	14.51%	32.40%	5.19%	15.83%	-16.47%	8.86%	10.80%	21.71%	-14.41%	28.12%

Correlation

The correlation between FEDCX and IXUS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012	0.37

Return for Risk

FEDCX vs. IXUS — Risk / Return Rank

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

FEDCX

FEDCX Risk / Return Rank: 93
FEDCX Sharpe Ratio Rank: 96
FEDCX Sortino Ratio Rank: 97
FEDCX Omega Ratio Rank: 95
FEDCX Calmar Ratio Rank: 85
FEDCX Martin Ratio Rank: 90

IXUS

IXUS Risk / Return Rank: 60
IXUS Sharpe Ratio Rank: 61
IXUS Sortino Ratio Rank: 60
IXUS Omega Ratio Rank: 62
IXUS Calmar Ratio Rank: 56
IXUS Martin Ratio Rank: 61

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.

FEDCX vs. IXUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Debt Fund (FEDCX) and iShares Core MSCI Total International Stock ETF (IXUS). 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.

	FEDCX	IXUS	Difference
Sharpe ratio Return per unit of total volatility	3.55	2.10	+1.45
Sortino ratio Return per unit of downside risk	5.94	2.89	+3.04
Omega ratio Gain probability vs. loss probability	1.77	1.39	+0.38
Calmar ratio Return relative to maximum drawdown	4.04	2.84	+1.19
Martin ratio Return relative to average drawdown	18.17	11.13	+7.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEDCX vs. IXUS - Sharpe Ratio Comparison

The current FEDCX Sharpe Ratio is 3.55, which is higher than the IXUS Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FEDCX and IXUS, 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

	FEDCX	IXUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.55	2.10	+1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.52	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.57	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.49	+0.27

Drawdowns

FEDCX vs. IXUS - Drawdown Comparison

The maximum FEDCX drawdown since its inception was -26.00%, smaller than the maximum IXUS drawdown of -36.22%. Use the drawdown chart below to compare losses from any high point for FEDCX and IXUS.

Drawdown Indicators

	FEDCX	IXUS	Difference
Max Drawdown Largest peak-to-trough decline	-26.00%	-36.22%	+10.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	-11.36%	+7.29%
Max Drawdown (3Y) Largest decline over 3 years	-6.42%	-13.75%	+7.33%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-30.04%	+4.04%
Max Drawdown (10Y) Largest decline over 10 years	-26.00%	-36.22%	+10.22%
Current Drawdown Current decline from peak	0.00%	-1.01%	+1.01%
Average Drawdown Average peak-to-trough decline	-4.36%	-7.50%	+3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	2.90%	-2.00%

Volatility

FEDCX vs. IXUS - Volatility Comparison

The current volatility for Fidelity Series Emerging Markets Debt Fund (FEDCX) is 1.64%, while iShares Core MSCI Total International Stock ETF (IXUS) has a volatility of 5.64%. This indicates that FEDCX experiences smaller price fluctuations and is considered to be less risky than IXUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEDCX	IXUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	5.64%	-4.00%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	13.16%	-9.41%
Volatility (1Y) Calculated over the trailing 1-year period	4.64%	15.37%	-10.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	16.21%	-9.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.62%	17.07%	-10.45%

FEDCX vs. IXUS - Expense Ratio Comparison

FEDCX has a 0.00% expense ratio, which is lower than IXUS's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FEDCX vs. IXUS - Dividend Comparison

FEDCX's dividend yield for the trailing twelve months is around 5.82%, more than IXUS's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDCX Fidelity Series Emerging Markets Debt Fund	5.82%	5.97%	5.18%	5.55%	3.84%	3.81%	4.99%	5.89%	6.08%	7.33%	7.03%	5.61%
IXUS iShares Core MSCI Total International Stock ETF	2.83%	3.24%	3.33%	3.13%	2.48%	3.12%	1.85%	3.09%	3.00%	2.41%	2.58%	2.81%

Frequently Asked Questions

Can I hold both FEDCX and IXUS in my portfolio?

FEDCX and IXUS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEDCX or IXUS?

IXUS has higher volatility (5.64%) compared to FEDCX (1.64%). In terms of maximum drawdown, FEDCX dropped -26.00% vs IXUS's -36.22%.

Which has better risk-adjusted returns?

FEDCX currently has the higher Sharpe Ratio (3.55 vs 2.10), 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.