FHLFX vs. FAERX
FHLFX (Fidelity Series International Index Fund) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FHLFX returned 9.45%/yr vs 2.30%/yr for FAERX. Their correlation of 0.90 means they have usually moved in the same direction. FHLFX charges 0.01%/yr vs 1.65%/yr for FAERX.
Performance
FHLFX vs. FAERX - Performance Comparison
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Returns By Period
FHLFX
- 1D
- -0.71%
- 1M
- 1.26%
- 6M
- 5.76%
- YTD
- 11.78%
- 1Y
- 25.30%
- 3Y*
- 16.61%
- 5Y*
- 9.45%
- 10Y*
- —
- ALL TIME*
- 9.34%
FAERX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.42%
- 3Y*
- 7.43%
- 5Y*
- 2.30%
- 10Y*
- 7.12%
- ALL TIME*
- 5.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHLFX vs. FAERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHLFX Fidelity Series International Index Fund | 11.78% | 31.96% | 3.67% | 18.16% | -14.17% | 11.23% | 8.09% | 21.66% | -10.70% |
FAERX Fidelity Advisor Overseas Fund Class M | 0.00% | 14.70% | 4.40% | 19.78% | -24.77% | 18.63% | 14.43% | 27.14% | -14.34% |
Correlation
The correlation between FHLFX and FAERX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018 | 0.90 |
Over the past year, the correlation between FHLFX and FAERX has dropped to 0.46 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
FHLFX vs. FAERX — Risk / Return Rank
FHLFX
FAERX
FHLFX vs. FAERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Index Fund (FHLFX) and Fidelity Advisor Overseas Fund Class M (FAERX). 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.
| FHLFX | FAERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.74 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.93 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | -0.35 | +2.58 |
| Martin ratioReturn relative to average drawdown | 8.46 | -0.53 | +8.99 |
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Drawdowns
FHLFX vs. FAERX - Drawdown Comparison
The maximum FHLFX drawdown since its inception was -33.58%, smaller than the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for FHLFX and FAERX.
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Drawdown Indicators
| FHLFX | FAERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.58% | -60.14% | +26.56% |
Max Drawdown (1Y)Largest decline over 1 year | -11.37% | -7.29% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.62% | -14.00% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -29.36% | -36.62% | +7.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.62% | — |
Current DrawdownCurrent decline from peak | -0.71% | -5.89% | +5.18% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -14.34% | +8.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 4.51% | -1.51% |
Volatility
FHLFX vs. FAERX - Volatility Comparison
Fidelity Series International Index Fund (FHLFX) has a higher volatility of 4.47% compared to Fidelity Advisor Overseas Fund Class M (FAERX) at 0.00%. This indicates that FHLFX's price experiences larger fluctuations and is considered to be riskier than FAERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHLFX | FAERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 0.00% | +4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 13.25% | 0.00% | +13.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 7.69% | +7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.66% | -0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.62% | 16.28% | +1.34% |
FHLFX vs. FAERX - Expense Ratio Comparison
FHLFX has a 0.01% expense ratio, which is lower than FAERX's 1.65% expense ratio.
Dividends
FHLFX vs. FAERX - Dividend Comparison
FHLFX's dividend yield for the trailing twelve months is around 3.10%, less than FAERX's 7.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAERX Fidelity Advisor Overseas Fund Class M | 7.94% | 7.94% | 0.96% | 0.51% | 0.12% | 2.07% | 0.00% | 1.15% | 4.25% | 3.35% | 0.80% | 0.09% |
FHLFX Fidelity Series International Index Fund | 3.10% | 3.46% | 2.98% | 2.86% | 2.60% | 2.47% | 1.92% | 1.95% | 0.62% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHLFX and FAERX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHLFX has higher volatility (4.47%) compared to FAERX (0.00%). In terms of maximum drawdown, FHLFX dropped -33.58% vs FAERX's -60.14%.
FHLFX currently has the higher Sharpe Ratio (1.64 vs -0.33), 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.
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