FHJMX vs. VEUPX

Last updated Jun 23, 2026

FHJMX (Fidelity Advisor Europe Fund Class I) and VEUPX (Vanguard European Stock Index Fund Institutional Plus Shares) are both Europe Equities funds. Over the past 10 years, FHJMX returned 8.49%/yr vs 9.65%/yr for VEUPX. Their correlation of 0.95 suggests significant overlap in exposure. FHJMX charges 1.06%/yr vs 0.07%/yr for VEUPX.

Performance

FHJMX vs. VEUPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Europe Fund Class I (FHJMX) and Vanguard European Stock Index Fund Institutional Plus Shares (VEUPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHJMX achieves a 8.49% return, which is significantly higher than VEUPX's 7.46% return. Over the past 10 years, FHJMX has underperformed VEUPX with an annualized return of 8.49%, while VEUPX has yielded a comparatively higher 9.65% annualized return.

FHJMX

• 1D: 0.84%
• 1M: 1.93%
• YTD: 8.49%
• 6M: 9.29%
• 1Y: 21.66%
• 3Y*: 16.45%
• 5Y*: 6.43%
• 10Y*: 8.49%

VEUPX

• 1D: 0.30%
• 1M: 0.93%
• YTD: 7.46%
• 6M: 8.00%
• 1Y: 21.45%
• 3Y*: 15.93%
• 5Y*: 9.24%
• 10Y*: 9.65%

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

FHJMX vs. VEUPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHJMX Fidelity Advisor Europe Fund Class I	8.49%	37.51%	4.20%	13.70%	-20.60%	6.63%	18.31%	24.49%	-17.19%	29.18%
VEUPX Vanguard European Stock Index Fund Institutional Plus Shares	7.46%	35.46%	2.04%	20.01%	-16.03%	16.31%	6.46%	24.25%	-14.77%	27.12%

Correlation

The correlation between FHJMX and VEUPX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 25, 2014	0.95

The correlation between FHJMX and VEUPX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

FHJMX vs. VEUPX — Risk / Return Rank

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

FHJMX

FHJMX Risk / Return Rank: 24
FHJMX Sharpe Ratio Rank: 22
FHJMX Sortino Ratio Rank: 23
FHJMX Omega Ratio Rank: 21
FHJMX Calmar Ratio Rank: 24
FHJMX Martin Ratio Rank: 30

VEUPX

VEUPX Risk / Return Rank: 26
VEUPX Sharpe Ratio Rank: 25
VEUPX Sortino Ratio Rank: 25
VEUPX Omega Ratio Rank: 25
VEUPX Calmar Ratio Rank: 26
VEUPX Martin Ratio Rank: 30

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.

FHJMX vs. VEUPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Europe Fund Class I (FHJMX) and Vanguard European Stock Index Fund Institutional Plus Shares (VEUPX). 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.

	FHJMX	VEUPX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.36	-0.10
Sortino ratio: Return per unit of downside risk	1.86	1.97	-0.11
Omega ratio: Gain probability vs. loss probability	1.23	1.24	-0.02
Calmar ratio: Return relative to maximum drawdown	1.72	1.77	-0.04
Martin ratio: Return relative to average drawdown	6.38	6.52	-0.13

FHJMX vs. VEUPX - Sharpe Ratio Comparison

The current FHJMX Sharpe Ratio is 1.25, which is comparable to the VEUPX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FHJMX and VEUPX, 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

FHJMX vs. VEUPX - Drawdown Comparison

The maximum FHJMX drawdown since its inception was -38.02%, roughly equal to the maximum VEUPX drawdown of -36.83%. Use the drawdown chart below to compare losses from any high point for FHJMX and VEUPX.

Drawdown Indicators

	FHJMX	VEUPX	Difference
Max Drawdown Largest peak-to-trough decline	-38.02%	-36.83%	-1.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.37%	-11.96%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.27%	-13.96%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-38.02%	-32.69%	-5.33%
Max Drawdown (10Y) Largest decline over 10 years	-38.02%	-36.83%	-1.19%
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-9.79%	-8.36%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	3.23%	+0.10%

Volatility

FHJMX vs. VEUPX - Volatility Comparison

Fidelity Advisor Europe Fund Class I (FHJMX) has a higher volatility of 6.14% compared to Vanguard European Stock Index Fund Institutional Plus Shares (VEUPX) at 5.02%. This indicates that FHJMX's price experiences larger fluctuations and is considered to be riskier than VEUPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHJMX	VEUPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	5.02%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	14.83%	13.08%	+1.75%
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	17.43%	17.45%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	18.22%	-0.26%

FHJMX vs. VEUPX - Expense Ratio Comparison

FHJMX has a 1.06% expense ratio, which is higher than VEUPX's 0.07% expense ratio.

Dividends

FHJMX vs. VEUPX - Dividend Comparison

FHJMX's dividend yield for the trailing twelve months is around 2.15%, less than VEUPX's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHJMX Fidelity Advisor Europe Fund Class I	2.15%	2.33%	3.09%	1.64%	0.00%	16.02%	1.20%	7.46%	11.95%	2.58%	1.59%	1.66%
VEUPX Vanguard European Stock Index Fund Institutional Plus Shares	2.92%	2.87%	3.61%	3.15%	3.26%	3.05%	2.11%	3.29%	3.96%	2.73%	3.54%	3.29%

Frequently Asked Questions

Can I hold both FHJMX and VEUPX in my portfolio?

With a correlation of 0.95, FHJMX and VEUPX 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, FHJMX or VEUPX?

FHJMX has higher volatility (6.14%) compared to VEUPX (5.02%). In terms of maximum drawdown, FHJMX dropped -38.02% vs VEUPX's -36.83%.

Which has better risk-adjusted returns?

VEUPX currently has the higher Sharpe Ratio (1.36 vs 1.25), 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.