FFNOX vs. FTIHX

Last updated Jun 25, 2026

FFNOX (Fidelity Multi-Asset Index Fund) and FTIHX (Fidelity Total International Index Fund) are both mutual funds - FFNOX is a Diversified Portfolio fund actively managed by Fidelity, while FTIHX is a Foreign Large Cap Equities fund tracking the MSCI ACWI (All Country World Index) ex USA Investable Market Index. FFNOX is actively managed, while FTIHX is passively managed. Over the past 10 years, FFNOX returned 11.42%/yr vs 9.93%/yr for FTIHX. Their correlation of 0.89 suggests significant overlap in exposure. FFNOX charges 0.11%/yr vs 0.06%/yr for FTIHX.

Performance

FFNOX vs. FTIHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Multi-Asset Index Fund (FFNOX) and Fidelity Total International Index Fund (FTIHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFNOX achieves a 9.33% return, which is significantly lower than FTIHX's 12.47% return. Over the past 10 years, FFNOX has outperformed FTIHX with an annualized return of 11.42%, while FTIHX has yielded a comparatively lower 9.93% annualized return.

FFNOX

• 1D: -1.64%
• 1M: 0.21%
• YTD: 9.33%
• 6M: 8.52%
• 1Y: 21.47%
• 3Y*: 17.24%
• 5Y*: 8.91%
• 10Y*: 11.42%

FTIHX

• 1D: -2.79%
• 1M: 0.31%
• YTD: 12.47%
• 6M: 12.47%
• 1Y: 27.40%
• 3Y*: 18.89%
• 5Y*: 8.26%
• 10Y*: 9.93%

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

FFNOX vs. FTIHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFNOX Fidelity Multi-Asset Index Fund	9.33%	20.18%	13.05%	19.29%	-18.02%	17.05%	16.30%	25.09%	-6.58%	17.09%
FTIHX Fidelity Total International Index Fund	12.47%	32.59%	4.98%	15.49%	-16.29%	8.45%	11.09%	21.50%	-14.40%	25.88%

Correlation

The correlation between FFNOX and FTIHX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 16, 2016	0.89

The correlation between FFNOX and FTIHX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

Return for Risk

FFNOX vs. FTIHX — Risk / Return Rank

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

FFNOX

FFNOX Risk / Return Rank: 53
FFNOX Sharpe Ratio Rank: 51
FFNOX Sortino Ratio Rank: 48
FFNOX Omega Ratio Rank: 50
FFNOX Calmar Ratio Rank: 54
FFNOX Martin Ratio Rank: 62

FTIHX

FTIHX Risk / Return Rank: 49
FTIHX Sharpe Ratio Rank: 49
FTIHX Sortino Ratio Rank: 44
FTIHX Omega Ratio Rank: 50
FTIHX Calmar Ratio Rank: 51
FTIHX Martin Ratio Rank: 52

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.

FFNOX vs. FTIHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Multi-Asset Index Fund (FFNOX) and Fidelity Total International Index Fund (FTIHX). 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.

	FFNOX	FTIHX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.90	+0.03
Sortino ratio: Return per unit of downside risk	2.68	2.57	+0.11
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	2.68	2.62	+0.06
Martin ratio: Return relative to average drawdown	11.41	10.11	+1.30

FFNOX vs. FTIHX - Sharpe Ratio Comparison

The current FFNOX Sharpe Ratio is 1.93, which is comparable to the FTIHX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FFNOX and FTIHX, 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

FFNOX vs. FTIHX - Drawdown Comparison

The maximum FFNOX drawdown since its inception was -49.84%, which is greater than FTIHX's maximum drawdown of -35.75%. Use the drawdown chart below to compare losses from any high point for FFNOX and FTIHX.

Drawdown Indicators

	FFNOX	FTIHX	Difference
Max Drawdown Largest peak-to-trough decline	-49.84%	-35.75%	-14.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-11.25%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-14.10%	-13.15%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-29.99%	+3.95%
Max Drawdown (10Y) Largest decline over 10 years	-29.93%	-35.75%	+5.82%
Current Drawdown Current decline from peak	-2.01%	-2.79%	+0.78%
Average Drawdown Average peak-to-trough decline	-8.68%	-7.19%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.90%	-0.89%

Volatility

FFNOX vs. FTIHX - Volatility Comparison

The current volatility for Fidelity Multi-Asset Index Fund (FFNOX) is 5.00%, while Fidelity Total International Index Fund (FTIHX) has a volatility of 6.87%. This indicates that FFNOX experiences smaller price fluctuations and is considered to be less risky than FTIHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFNOX	FTIHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	6.87%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	13.54%	-3.55%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	15.50%	-3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	15.51%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.57%	15.96%	-1.39%

FFNOX vs. FTIHX - Expense Ratio Comparison

FFNOX has a 0.11% expense ratio, which is higher than FTIHX's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FFNOX vs. FTIHX - Dividend Comparison

FFNOX's dividend yield for the trailing twelve months is around 2.35%, less than FTIHX's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFNOX Fidelity Multi-Asset Index Fund	2.35%	3.68%	6.43%	3.18%	7.14%	5.71%	2.87%	2.96%	2.90%	0.64%	2.50%	0.70%
FTIHX Fidelity Total International Index Fund	2.47%	2.78%	2.88%	2.78%	2.51%	2.55%	1.62%	2.61%	2.21%	0.45%	0.47%	0.00%

Frequently Asked Questions

Can I hold both FFNOX and FTIHX in my portfolio?

With a correlation of 0.94, FFNOX and FTIHX 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, FFNOX or FTIHX?

FTIHX has higher volatility (6.87%) compared to FFNOX (5.00%). In terms of maximum drawdown, FFNOX dropped -49.84% vs FTIHX's -35.75%.

Which has better risk-adjusted returns?

FFNOX currently has the higher Sharpe Ratio (1.93 vs 1.90), 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.