FFDI vs. MCSE

Last updated Aug 1, 2026

FFDI (Fidelity Fundamental Developed International ETF) and MCSE (Franklin Sustainable International Equity ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, FFDI returned 14.90% vs 4.30% for MCSE. Their 0.58 correlation means they have sometimes moved together and sometimes differently. FFDI charges 0.55%/yr vs 0.59%/yr for MCSE.

Performance

FFDI vs. MCSE - Performance Comparison

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

Returns By Period

In the year-to-date period, FFDI achieves a 8.00% return, which is significantly higher than MCSE's 1.12% return.

FFDI

• 1D: 0.15%
• 1M: -1.27%
• 6M: 3.71%
• YTD: 8.00%
• 1Y: 14.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.69%

MCSE

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 1.12%
• 1Y: 4.30%
• 3Y*: -0.12%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFDI Fidelity Fundamental Developed International ETF	$92.88K	$71.34K	$81.38K
MCSE Franklin Sustainable International Equity ETF	$0.00	$0.00	$0.00

FFDI vs. MCSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFDI Fidelity Fundamental Developed International ETF	8.00%	26.66%	-9.21%
MCSE Franklin Sustainable International Equity ETF	1.12%	7.79%	0.29%

Correlation

The correlation between FFDI and MCSE is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.58

The correlation between FFDI and MCSE shifts across timeframes, from 0.42 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FFDI vs. MCSE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFDI

FFDI Risk / Return Rank: 34
FFDI Sharpe Ratio Rank: 32
FFDI Sortino Ratio Rank: 32
FFDI Omega Ratio Rank: 31
FFDI Calmar Ratio Rank: 35
FFDI Martin Ratio Rank: 40

MCSE

MCSE Risk / Return Rank: 19
MCSE Sharpe Ratio Rank: 20
MCSE Sortino Ratio Rank: 18
MCSE Omega Ratio Rank: 22
MCSE Calmar Ratio Rank: 17
MCSE Martin Ratio Rank: 17

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFDI vs. MCSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Developed International ETF (FFDI) and Franklin Sustainable International Equity ETF (MCSE). 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	MCSE	Difference
Sharpe ratio: Return per unit of total volatility	0.77	0.37	+0.40
Sortino ratio: Return per unit of downside risk	1.22	0.58	+0.65
Omega ratio: Gain probability vs. loss probability	1.15	1.10	+0.05
Calmar ratio: Return relative to maximum drawdown	1.20	0.37	+0.83
Martin ratio: Return relative to average drawdown	4.36	0.92	+3.45

FFDI vs. MCSE - Sharpe Ratio Comparison

The current FFDI Sharpe Ratio is 0.77, which is higher than the MCSE Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of FFDI and MCSE, 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. MCSE - Drawdown Comparison

The maximum FFDI drawdown since its inception was -14.39%, smaller than the maximum MCSE drawdown of -26.36%. Use the drawdown chart below to compare losses from any high point for FFDI and MCSE.

Drawdown Indicators

	FFDI	MCSE	Difference
Max Drawdown Largest peak-to-trough decline	-14.39%	-26.36%	+11.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-10.42%	-1.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-26.36%	—
Current Drawdown Current decline from peak	-2.47%	-10.51%	+8.04%
Average Drawdown Average peak-to-trough decline	-2.61%	-8.79%	+6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	4.36%	-1.12%

Volatility

FFDI vs. MCSE - Volatility Comparison

Fidelity Fundamental Developed International ETF (FFDI) has a higher volatility of 6.35% compared to Franklin Sustainable International Equity ETF (MCSE) at 0.00%. This indicates that FFDI's price experiences larger fluctuations and is considered to be riskier than MCSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFDI	MCSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	0.00%	+6.35%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	1.91%	+14.68%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	10.71%	+7.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.85%	19.08%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	19.08%	+0.77%

FFDI vs. MCSE - Expense Ratio Comparison

FFDI has a 0.55% expense ratio, which is lower than MCSE's 0.59% expense ratio.

Dividends

FFDI vs. MCSE - Dividend Comparison

FFDI's dividend yield for the trailing twelve months is around 2.00%, less than MCSE's 3.74% yield.

Position	TTM	2025	2024	2023	2022
FFDI Fidelity Fundamental Developed International ETF	2.00%	2.16%	0.39%	0.00%	0.00%
MCSE Franklin Sustainable International Equity ETF	3.74%	3.78%	0.63%	0.57%	0.48%

Frequently Asked Questions

Can I hold both FFDI and MCSE in my portfolio?

FFDI and MCSE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFDI or MCSE?

FFDI has higher volatility (6.35%) compared to MCSE (0.00%). In terms of maximum drawdown, FFDI dropped -14.39% vs MCSE's -26.36%.

Which ETF is better, FFDI or MCSE?

On 1-year performance, FFDI leads with 14.90% vs 4.30% for MCSE. On fees, FFDI is cheaper at 0.55% per year. On volatility, MCSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFDI or MCSE?

Over the 1-year period, FFDI has performed better with a 14.90% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFDI or MCSE?

FFDI is cheaper with a 0.55% expense ratio, compared with 0.59% for MCSE.

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

MCSE has the higher dividend yield at 3.74%, compared with 2.00% for FFDI.

What is the main difference between FFDI and MCSE?

They also come from different issuers: Fidelity and Franklin. Their fees differ too: 0.55% for FFDI and 0.59% for MCSE.

Which has better risk-adjusted returns?

FFDI currently has the higher Sharpe Ratio (0.77 vs 0.37), 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.