FFGX vs. GMOI

Last updated Jun 24, 2026

FFGX (Fidelity Fundamental Global ex-U.S. ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds. FFGX is actively managed, while GMOI is passively managed. Over the past year, FFGX returned 24.66% vs 35.21% for GMOI. A 0.78 correlation means they provide meaningful diversification when combined. FFGX charges 0.55%/yr vs 0.60%/yr for GMOI.

Performance

FFGX vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Global ex-U.S. ETF (FFGX) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGX achieves a 13.21% return, which is significantly higher than GMOI's 11.52% return.

FFGX

• 1D: -3.80%
• 1M: 1.83%
• YTD: 13.21%
• 6M: 13.36%
• 1Y: 24.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMOI

• 1D: -1.03%
• 1M: -1.76%
• YTD: 11.52%
• 6M: 11.19%
• 1Y: 35.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFGX vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFGX Fidelity Fundamental Global ex-U.S. ETF	13.21%	27.85%	-9.98%
GMOI GMO International Value ETF	11.52%	45.64%	-1.57%

Correlation

The correlation between FFGX and GMOI is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.78

The correlation between FFGX and GMOI has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

FFGX vs. GMOI — Risk / Return Rank

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

FFGX

FFGX Risk / Return Rank: 41
FFGX Sharpe Ratio Rank: 39
FFGX Sortino Ratio Rank: 38
FFGX Omega Ratio Rank: 40
FFGX Calmar Ratio Rank: 41
FFGX Martin Ratio Rank: 48

GMOI

GMOI Risk / Return Rank: 85
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 87
GMOI Omega Ratio Rank: 83
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 85

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.

FFGX vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Global ex-U.S. ETF (FFGX) and GMO International Value ETF (GMOI). 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.

	FFGX	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.64	-1.36
Sortino ratio: Return per unit of downside risk	1.84	3.65	-1.81
Omega ratio: Gain probability vs. loss probability	1.25	1.47	-0.22
Calmar ratio: Return relative to maximum drawdown	1.93	4.23	-2.30
Martin ratio: Return relative to average drawdown	7.46	16.65	-9.19

FFGX vs. GMOI - Sharpe Ratio Comparison

The current FFGX Sharpe Ratio is 1.29, which is lower than the GMOI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FFGX and GMOI, 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

FFGX vs. GMOI - Drawdown Comparison

The maximum FFGX drawdown since its inception was -14.95%, roughly equal to the maximum GMOI drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for FFGX and GMOI.

Drawdown Indicators

	FFGX	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-14.67%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-8.36%	-4.50%
Current Drawdown Current decline from peak	-3.80%	-2.63%	-1.17%
Average Drawdown Average peak-to-trough decline	-2.87%	-1.69%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.12%	+1.19%

Volatility

FFGX vs. GMOI - Volatility Comparison

Fidelity Fundamental Global ex-U.S. ETF (FFGX) has a higher volatility of 8.62% compared to GMO International Value ETF (GMOI) at 3.99%. This indicates that FFGX's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGX	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.62%	3.99%	+4.63%
Volatility (6M) Calculated over the trailing 6-month period	17.43%	10.67%	+6.76%
Volatility (1Y) Calculated over the trailing 1-year period	19.28%	13.40%	+5.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.64%	15.57%	+5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	15.57%	+5.07%

FFGX vs. GMOI - Expense Ratio Comparison

FFGX has a 0.55% expense ratio, which is lower than GMOI's 0.60% expense ratio.

Dividends

FFGX vs. GMOI - Dividend Comparison

FFGX's dividend yield for the trailing twelve months is around 1.53%, less than GMOI's 2.45% yield.

Position	TTM	2025	2024
FFGX Fidelity Fundamental Global ex-U.S. ETF	1.53%	1.62%	0.40%
GMOI GMO International Value ETF	2.45%	2.74%	0.54%

Frequently Asked Questions

Can I hold both FFGX and GMOI in my portfolio?

FFGX and GMOI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFGX or GMOI?

FFGX has higher volatility (8.62%) compared to GMOI (3.99%). In terms of maximum drawdown, FFGX dropped -14.95% vs GMOI's -14.67%.

Which ETF is better, FFGX or GMOI?

On 1-year performance, GMOI leads with 35.21% vs 24.66% for FFGX. On fees, FFGX is cheaper at 0.55% per year. On volatility, GMOI has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFGX or GMOI?

Over the 1-year period, GMOI has performed better with a 35.21% return vs 24.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFGX or GMOI?

FFGX is cheaper with a 0.55% expense ratio, compared with 0.60% for GMOI.

Which ETF pays a higher dividend yield, FFGX or GMOI?

GMOI has the higher dividend yield at 2.45%, compared with 1.53% for FFGX.

What is the main difference between FFGX and GMOI?

They also come from different issuers: Fidelity and GMO. Their fees differ too: 0.55% for FFGX and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.64 vs 1.28), 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.