FFDI vs. EFA

Last updated Jun 23, 2026

FFDI (Fidelity Fundamental Developed International ETF) and EFA (iShares MSCI EAFE ETF) are both Foreign Large Cap Equities funds. Over the past year, FFDI returned 18.58% vs 25.29% for EFA. Their correlation of 0.95 suggests significant overlap in exposure. FFDI charges 0.55%/yr vs 0.32%/yr for EFA.

Performance

FFDI vs. EFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Developed International ETF (FFDI) and iShares MSCI EAFE ETF (EFA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FFDI having a 10.72% return and EFA slightly lower at 10.63%.

FFDI

• 1D: 0.55%
• 1M: 4.77%
• YTD: 10.72%
• 6M: 10.81%
• 1Y: 18.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFA

• 1D: 0.16%
• 1M: 2.17%
• YTD: 10.63%
• 6M: 11.01%
• 1Y: 25.29%
• 3Y*: 17.43%
• 5Y*: 9.14%
• 10Y*: 10.10%

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

FFDI vs. EFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFDI Fidelity Fundamental Developed International ETF	10.72%	26.66%	-9.21%
EFA iShares MSCI EAFE ETF	10.63%	31.55%	-0.78%

Correlation

The correlation between FFDI and EFA is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.95

The correlation between FFDI and EFA has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

FFDI vs. EFA — Risk / Return Rank

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

FFDI

FFDI Risk / Return Rank: 32
FFDI Sharpe Ratio Rank: 30
FFDI Sortino Ratio Rank: 31
FFDI Omega Ratio Rank: 30
FFDI Calmar Ratio Rank: 33
FFDI Martin Ratio Rank: 39

EFA

EFA Risk / Return Rank: 48
EFA Sharpe Ratio Rank: 49
EFA Sortino Ratio Rank: 49
EFA Omega Ratio Rank: 48
EFA Calmar Ratio Rank: 46
EFA Martin Ratio Rank: 50

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.

FFDI vs. EFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Developed International ETF (FFDI) and iShares MSCI EAFE ETF (EFA). 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.

	FFDI	EFA	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.64	-0.57
Sortino ratio: Return per unit of downside risk	1.61	2.34	-0.73
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	1.57	2.22	-0.65
Martin ratio: Return relative to average drawdown	5.91	8.31	-2.40

FFDI vs. EFA - Sharpe Ratio Comparison

The current FFDI Sharpe Ratio is 1.06, which is lower than the EFA Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of FFDI and EFA, 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

FFDI vs. EFA - Drawdown Comparison

The maximum FFDI drawdown since its inception was -14.39%, smaller than the maximum EFA drawdown of -61.04%. Use the drawdown chart below to compare losses from any high point for FFDI and EFA.

Drawdown Indicators

	FFDI	EFA	Difference
Max Drawdown Largest peak-to-trough decline	-14.39%	-61.04%	+46.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-11.42%	-0.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.19%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.59%	-11.91%	+9.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.05%	+0.10%

Volatility

FFDI vs. EFA - Volatility Comparison

Fidelity Fundamental Developed International ETF (FFDI) has a higher volatility of 5.76% compared to iShares MSCI EAFE ETF (EFA) at 4.87%. This indicates that FFDI's price experiences larger fluctuations and is considered to be riskier than EFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFDI	EFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	4.87%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	15.39%	13.15%	+2.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	15.54%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	16.56%	+3.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	17.23%	+2.50%

FFDI vs. EFA - Expense Ratio Comparison

FFDI has a 0.55% expense ratio, which is higher than EFA's 0.32% expense ratio.

Dividends

FFDI vs. EFA - Dividend Comparison

FFDI's dividend yield for the trailing twelve months is around 1.95%, less than EFA's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFA iShares MSCI EAFE ETF	3.22%	3.38%	3.24%	2.98%	2.69%	3.33%	2.13%	3.10%	3.39%	2.57%	3.07%	2.76%
FFDI Fidelity Fundamental Developed International ETF	1.95%	2.16%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFDI and EFA in my portfolio?

With a correlation of 0.95, FFDI and EFA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FFDI or EFA?

FFDI has higher volatility (5.76%) compared to EFA (4.87%). In terms of maximum drawdown, FFDI dropped -14.39% vs EFA's -61.04%.

Which ETF is better, FFDI or EFA?

On 1-year performance, EFA leads with 25.29% vs 18.58% for FFDI. On fees, EFA is cheaper at 0.32% per year. On volatility, EFA has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFDI or EFA?

Over the 1-year period, EFA has performed better with a 25.29% return vs 18.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFDI or EFA?

EFA is cheaper with a 0.32% expense ratio, compared with 0.55% for FFDI.

Which ETF pays a higher dividend yield, FFDI or EFA?

EFA has the higher dividend yield at 3.22%, compared with 1.95% for FFDI.

What is the main difference between FFDI and EFA?

They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.55% for FFDI and 0.32% for EFA.

Which has better risk-adjusted returns?

EFA currently has the higher Sharpe Ratio (1.64 vs 1.06), 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.