FEOE vs. FDEV

Last updated Apr 1, 2026

Compare and contrast key facts about First Eagle Overseas Equity ETF (FEOE) and Fidelity International Multifactor ETF (FDEV).

FEOE and FDEV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEOE is an actively managed fund by First Eagle. It was launched on Dec 19, 2024. FDEV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Targeted International Factor Index. It was launched on Feb 26, 2019.

Performance

FEOE vs. FDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Overseas Equity ETF (FEOE) and Fidelity International Multifactor ETF (FDEV). The values are adjusted to include any dividend payments, if applicable.

FEOE vs. FDEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEOE First Eagle Overseas Equity ETF	4.34%	41.33%	-0.42%
FDEV Fidelity International Multifactor ETF	3.83%	30.36%	0.73%

Returns By Period

In the year-to-date period, FEOE achieves a 4.34% return, which is significantly higher than FDEV's 3.83% return.

FEOE

• 1D: 2.52%
• 1M: -9.33%
• YTD: 4.34%
• 6M: 11.07%
• 1Y: 31.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDEV

• 1D: 2.35%
• 1M: -4.83%
• YTD: 3.83%
• 6M: 9.22%
• 1Y: 25.14%
• 3Y*: 14.97%
• 5Y*: 7.95%
• 10Y*: —

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

FEOE vs. FDEV - Expense Ratio Comparison

FEOE has a 0.50% expense ratio, which is higher than FDEV's 0.39% expense ratio.

FEOE

First Eagle Overseas Equity ETF

FDEV

Fidelity International Multifactor ETF

Return for Risk

FEOE vs. FDEV — Risk / Return Rank

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

FEOE

FEOE Risk / Return Rank: 88
FEOE Sharpe Ratio Rank: 89
FEOE Sortino Ratio Rank: 89
FEOE Omega Ratio Rank: 90
FEOE Calmar Ratio Rank: 84
FEOE Martin Ratio Rank: 86

FDEV

FDEV Risk / Return Rank: 89
FDEV Sharpe Ratio Rank: 86
FDEV Sortino Ratio Rank: 89
FDEV Omega Ratio Rank: 88
FDEV Calmar Ratio Rank: 89
FDEV Martin Ratio Rank: 91

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.

FEOE vs. FDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Overseas Equity ETF (FEOE) and Fidelity International Multifactor ETF (FDEV). 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.

	FEOE	FDEV	Difference
Sharpe ratio Return per unit of total volatility	1.95	1.73	+0.23
Sortino ratio Return per unit of downside risk	2.56	2.41	+0.15
Omega ratio Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio Return relative to maximum drawdown	2.51	2.85	-0.34
Martin ratio Return relative to average drawdown	10.44	11.64	-1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEOE vs. FDEV - Sharpe Ratio Comparison

The current FEOE Sharpe Ratio is 1.95, which is comparable to the FDEV Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FEOE and FDEV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEOE	FDEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.73	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.31	0.53	+1.78

Correlation

The correlation between FEOE and FDEV is 0.85, 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

FEOE vs. FDEV - Dividend Comparison

FEOE's dividend yield for the trailing twelve months is around 1.46%, less than FDEV's 2.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
FEOE First Eagle Overseas Equity ETF	1.46%	1.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDEV Fidelity International Multifactor ETF	2.83%	2.86%	2.99%	2.80%	2.65%	2.81%	1.88%	2.73%

Drawdowns

FEOE vs. FDEV - Drawdown Comparison

The maximum FEOE drawdown since its inception was -12.27%, smaller than the maximum FDEV drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for FEOE and FDEV.

Drawdown Indicators

	FEOE	FDEV	Difference
Max Drawdown Largest peak-to-trough decline	-12.27%	-30.11%	+17.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.27%	-8.67%	-3.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.02%	—
Current Drawdown Current decline from peak	-9.33%	-4.83%	-4.50%
Average Drawdown Average peak-to-trough decline	-1.40%	-6.38%	+4.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.13%	+0.83%

Volatility

FEOE vs. FDEV - Volatility Comparison

First Eagle Overseas Equity ETF (FEOE) has a higher volatility of 7.94% compared to Fidelity International Multifactor ETF (FDEV) at 6.22%. This indicates that FEOE's price experiences larger fluctuations and is considered to be riskier than FDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEOE	FDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.94%	6.22%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	9.15%	+2.17%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	14.62%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.46%	13.85%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	15.38%	+0.08%