FHLFX vs. FIONX
FHLFX (Fidelity Series International Index Fund) and FIONX (Fidelity SAI International Index Fund) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FHLFX returned 9.45%/yr vs 9.44%/yr for FIONX. Their 1.00 correlation means they have historically moved very closely together. FHLFX charges 0.01%/yr vs 0.04%/yr for FIONX.
Performance
FHLFX vs. FIONX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FHLFX having a 11.78% return and FIONX slightly higher at 11.80%.
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%
FIONX
- 1D
- -0.66%
- 1M
- 1.30%
- 6M
- 5.80%
- YTD
- 11.80%
- 1Y
- 25.33%
- 3Y*
- 16.53%
- 5Y*
- 9.44%
- 10Y*
- —
- ALL TIME*
- 9.63%
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. FIONX - 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% |
FIONX Fidelity SAI International Index Fund | 11.80% | 31.85% | 3.64% | 18.22% | -14.19% | 11.24% | 8.17% | 22.09% | -11.67% |
Correlation
The correlation between FHLFX and FIONX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018 | 1.00 |
The correlation between FHLFX and FIONX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
FHLFX vs. FIONX — Risk / Return Rank
FHLFX
FIONX
FHLFX vs. FIONX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Index Fund (FHLFX) and Fidelity SAI International Index Fund (FIONX). 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 | FIONX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.24 | -0.01 |
| Martin ratioReturn relative to average drawdown | 8.46 | 8.47 | -0.01 |
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Drawdowns
FHLFX vs. FIONX - Drawdown Comparison
The maximum FHLFX drawdown since its inception was -33.58%, roughly equal to the maximum FIONX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FHLFX and FIONX.
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Drawdown Indicators
| FHLFX | FIONX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.58% | -33.69% | +0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -11.37% | -11.40% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -13.62% | -13.62% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -29.36% | -29.49% | +0.13% |
Current DrawdownCurrent decline from peak | -0.71% | -0.66% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -6.29% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.01% | -0.01% |
Volatility
FHLFX vs. FIONX - Volatility Comparison
Fidelity Series International Index Fund (FHLFX) and Fidelity SAI International Index Fund (FIONX) have volatilities of 4.47% and 4.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHLFX | FIONX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.47% | 4.43% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.25% | 13.23% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 15.52% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.17% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.62% | 16.55% | +1.07% |
FHLFX vs. FIONX - Expense Ratio Comparison
FHLFX has a 0.01% expense ratio, which is lower than FIONX's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FHLFX vs. FIONX - Dividend Comparison
FHLFX's dividend yield for the trailing twelve months is around 3.10%, more than FIONX's 2.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
FIONX Fidelity SAI International Index Fund | 2.93% | 3.28% | 3.06% | 2.18% | 3.34% | 2.65% | 1.91% | 3.16% | 3.00% | 0.52% |
Frequently Asked Questions
With a correlation of 1.00, FHLFX and FIONX 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.
FHLFX has higher volatility (4.47%) compared to FIONX (4.43%). In terms of maximum drawdown, FHLFX dropped -33.58% vs FIONX's -33.69%.
FIONX currently has the higher Sharpe Ratio (1.65 vs 1.64), 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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