FICDX vs. FIQEX

Last updated Aug 1, 2026

FICDX (Fidelity Canada Fund) and FIQEX (Fidelity Advisor Canada Fund Class Z) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FICDX returned 11.32%/yr vs 11.44%/yr for FIQEX. Their 1.00 correlation means they have historically moved very closely together. FICDX charges 0.80%/yr vs 0.66%/yr for FIQEX.

Performance

FICDX vs. FIQEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Canada Fund (FICDX) and Fidelity Advisor Canada Fund Class Z (FIQEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FICDX having a 10.03% return and FIQEX slightly higher at 10.06%.

FICDX

• 1D: 0.36%
• 1M: 4.18%
• 6M: 10.04%
• YTD: 10.03%
• 1Y: 20.97%
• 3Y*: 16.00%
• 5Y*: 11.32%
• 10Y*: 10.47%
• ALL TIME*: 8.76%

FIQEX

• 1D: 0.36%
• 1M: 4.18%
• 6M: 10.08%
• YTD: 10.06%
• 1Y: 21.06%
• 3Y*: 16.10%
• 5Y*: 11.44%
• 10Y*: —
• ALL TIME*: 12.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FICDX Fidelity Canada Fund	$0.00	$0.00	$0.00
FIQEX Fidelity Advisor Canada Fund Class Z	$0.00	$0.00	$0.00

FICDX vs. FIQEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FICDX Fidelity Canada Fund	10.03%	25.86%	9.15%	14.66%	-6.14%	26.86%	4.43%	25.82%	-10.00%
FIQEX Fidelity Advisor Canada Fund Class Z	10.06%	25.98%	9.25%	14.83%	-6.02%	27.01%	4.61%	26.04%	-9.33%

Correlation

The correlation between FICDX and FIQEX 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.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	1.00

The correlation between FICDX and FIQEX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FICDX vs. FIQEX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FICDX

FICDX Risk / Return Rank: 66
FICDX Sharpe Ratio Rank: 65
FICDX Sortino Ratio Rank: 58
FICDX Omega Ratio Rank: 61
FICDX Calmar Ratio Rank: 79
FICDX Martin Ratio Rank: 66

FIQEX

FIQEX Risk / Return Rank: 61
FIQEX Sharpe Ratio Rank: 60
FIQEX Sortino Ratio Rank: 53
FIQEX Omega Ratio Rank: 55
FIQEX Calmar Ratio Rank: 77
FIQEX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FICDX vs. FIQEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canada Fund (FICDX) and Fidelity Advisor Canada Fund Class Z (FIQEX). 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.

	FICDX	FIQEX	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.52	-0.01
Sortino ratio: Return per unit of downside risk	2.05	2.06	-0.01
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	2.55	2.56	-0.01
Martin ratio: Return relative to average drawdown	8.10	8.16	-0.06

FICDX vs. FIQEX - Sharpe Ratio Comparison

The current FICDX Sharpe Ratio is 1.51, which is comparable to the FIQEX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of FICDX and FIQEX, 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

FICDX vs. FIQEX - Drawdown Comparison

The maximum FICDX drawdown since its inception was -58.09%, which is greater than FIQEX's maximum drawdown of -39.84%. Use the drawdown chart below to compare losses from any high point for FICDX and FIQEX.

Drawdown Indicators

	FICDX	FIQEX	Difference
Max Drawdown Largest peak-to-trough decline	-58.09%	-39.84%	-18.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.60%	-7.61%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-12.06%	-12.05%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-21.01%	-20.97%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-39.85%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.48%	-4.74%	-5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.39%	0.00%

Volatility

FICDX vs. FIQEX - Volatility Comparison

Fidelity Canada Fund (FICDX) and Fidelity Advisor Canada Fund Class Z (FIQEX) have volatilities of 2.33% and 2.32%, 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.

Volatility by Period

	FICDX	FIQEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	2.32%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	10.22%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	12.88%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	15.90%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	18.70%	-1.35%

FICDX vs. FIQEX - Expense Ratio Comparison

FICDX has a 0.80% expense ratio, which is higher than FIQEX's 0.66% expense ratio.

Dividends

FICDX vs. FIQEX - Dividend Comparison

FICDX's dividend yield for the trailing twelve months is around 5.18%, less than FIQEX's 5.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICDX Fidelity Canada Fund	5.18%	5.70%	7.44%	3.36%	4.11%	5.16%	2.56%	4.41%	7.33%	0.89%	1.63%	0.15%
FIQEX Fidelity Advisor Canada Fund Class Z	5.27%	5.80%	7.84%	3.50%	4.07%	5.32%	2.74%	4.64%	7.61%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FICDX and FIQEX in my portfolio?

With a correlation of 1.00, FICDX and FIQEX 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, FICDX or FIQEX?

FICDX has higher volatility (2.33%) compared to FIQEX (2.32%). In terms of maximum drawdown, FICDX dropped -58.09% vs FIQEX's -39.84%.

Which has better risk-adjusted returns?

FIQEX currently has the higher Sharpe Ratio (1.52 vs 1.51), 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.