FFGCX vs. FSGGX

Last updated Jun 23, 2026

FFGCX (Fidelity Global Commodity Stock Fund) and FSGGX (Fidelity Global ex U.S. Index Fund) are both mutual funds - FFGCX is a Commodities fund managed by Fidelity, while FSGGX is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA Index. Over the past 10 years, FFGCX returned 12.08%/yr vs 9.61%/yr for FSGGX. A 0.75 correlation means they provide meaningful diversification when combined. FFGCX charges 0.94%/yr vs 0.06%/yr for FSGGX.

Performance

FFGCX vs. FSGGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Global Commodity Stock Fund (FFGCX) and Fidelity Global ex U.S. Index Fund (FSGGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FFGCX having a 15.59% return and FSGGX slightly higher at 16.18%. Over the past 10 years, FFGCX has outperformed FSGGX with an annualized return of 12.08%, while FSGGX has yielded a comparatively lower 9.61% annualized return.

FFGCX

• 1D: -1.85%
• 1M: -5.89%
• YTD: 15.59%
• 6M: 15.74%
• 1Y: 35.43%
• 3Y*: 16.11%
• 5Y*: 13.72%
• 10Y*: 12.08%

FSGGX

• 1D: 1.50%
• 1M: 3.53%
• YTD: 16.18%
• 6M: 17.00%
• 1Y: 34.65%
• 3Y*: 18.94%
• 5Y*: 9.50%
• 10Y*: 9.61%

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

FFGCX vs. FSGGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFGCX Fidelity Global Commodity Stock Fund	15.59%	28.66%	2.98%	-5.18%	20.69%	26.08%	6.04%	17.82%	-13.21%	17.18%
FSGGX Fidelity Global ex U.S. Index Fund	16.18%	32.93%	5.30%	15.57%	-15.75%	7.74%	10.73%	21.36%	-13.93%	24.73%

Correlation

The correlation between FFGCX and FSGGX 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	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011	0.75

Over the past year, the correlation between FFGCX and FSGGX has dropped to 0.43 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

FFGCX vs. FSGGX — Risk / Return Rank

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

FFGCX

FFGCX Risk / Return Rank: 65
FFGCX Sharpe Ratio Rank: 57
FFGCX Sortino Ratio Rank: 48
FFGCX Omega Ratio Rank: 48
FFGCX Calmar Ratio Rank: 87
FFGCX Martin Ratio Rank: 85

FSGGX

FSGGX Risk / Return Rank: 63
FSGGX Sharpe Ratio Rank: 65
FSGGX Sortino Ratio Rank: 58
FSGGX Omega Ratio Rank: 64
FSGGX Calmar Ratio Rank: 66
FSGGX Martin Ratio Rank: 62

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.

FFGCX vs. FSGGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Commodity Stock Fund (FFGCX) and Fidelity Global ex U.S. Index Fund (FSGGX). 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.

	FFGCX	FSGGX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.17	-0.13
Sortino ratio: Return per unit of downside risk	2.68	2.93	-0.25
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	3.98	3.00	+0.98
Martin ratio: Return relative to average drawdown	14.72	11.56	+3.16

FFGCX vs. FSGGX - Sharpe Ratio Comparison

The current FFGCX Sharpe Ratio is 2.04, which is comparable to the FSGGX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FFGCX and FSGGX, 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

FFGCX vs. FSGGX - Drawdown Comparison

The maximum FFGCX drawdown since its inception was -57.23%, which is greater than FSGGX's maximum drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for FFGCX and FSGGX.

Drawdown Indicators

	FFGCX	FSGGX	Difference
Max Drawdown Largest peak-to-trough decline	-57.23%	-34.76%	-22.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-11.26%	+2.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.24%	-13.31%	-5.93%
Max Drawdown (5Y) Largest decline over 5 years	-27.22%	-29.53%	+2.31%
Max Drawdown (10Y) Largest decline over 10 years	-48.43%	-34.76%	-13.67%
Current Drawdown Current decline from peak	-8.73%	0.00%	-8.73%
Average Drawdown Average peak-to-trough decline	-19.32%	-7.33%	-11.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.92%	-0.56%

Volatility

FFGCX vs. FSGGX - Volatility Comparison

The current volatility for Fidelity Global Commodity Stock Fund (FFGCX) is 5.35%, while Fidelity Global ex U.S. Index Fund (FSGGX) has a volatility of 6.57%. This indicates that FFGCX experiences smaller price fluctuations and is considered to be less risky than FSGGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGCX	FSGGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	6.57%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	13.90%	13.57%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	15.57%	+1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	15.56%	+5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.43%	16.25%	+6.18%

FFGCX vs. FSGGX - Expense Ratio Comparison

FFGCX has a 0.94% expense ratio, which is higher than FSGGX's 0.06% expense ratio.

Dividends

FFGCX vs. FSGGX - Dividend Comparison

FFGCX's dividend yield for the trailing twelve months is around 2.19%, less than FSGGX's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGCX Fidelity Global Commodity Stock Fund	2.19%	2.53%	2.62%	2.01%	1.84%	3.39%	1.61%	2.98%	2.22%	0.36%	1.53%	2.86%
FSGGX Fidelity Global ex U.S. Index Fund	2.32%	2.70%	2.91%	2.95%	2.64%	2.60%	1.71%	2.85%	2.66%	0.22%	0.05%	2.44%

Frequently Asked Questions

Can I hold both FFGCX and FSGGX in my portfolio?

FFGCX and FSGGX 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, FFGCX or FSGGX?

FSGGX has higher volatility (6.57%) compared to FFGCX (5.35%). In terms of maximum drawdown, FFGCX dropped -57.23% vs FSGGX's -34.76%.

Which has better risk-adjusted returns?

FSGGX currently has the higher Sharpe Ratio (2.17 vs 2.04), 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.