FICQX vs. GTMIX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity International Capital Appreciation Fund (FICQX) and GMO Tax-Managed International Equities Fund (GTMIX).

FICQX is an actively managed fund by Fidelity. It was launched on Jul 17, 2025. GTMIX is managed by GMO. It was launched on Jul 28, 1998.

Performance

FICQX vs. GTMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Capital Appreciation Fund (FICQX) and GMO Tax-Managed International Equities Fund (GTMIX). The values are adjusted to include any dividend payments, if applicable.

FICQX vs. GTMIX - Yearly Performance Comparison

	2026 (YTD)	2025
FICQX Fidelity International Capital Appreciation Fund	-4.87%	0.38%
GTMIX GMO Tax-Managed International Equities Fund	8.42%	11.58%

Returns By Period

In the year-to-date period, FICQX achieves a -4.87% return, which is significantly lower than GTMIX's 8.42% return.

FICQX

• 1D: 3.60%
• 1M: -9.02%
• YTD: -4.87%
• 6M: -5.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GTMIX

• 1D: 2.48%
• 1M: -3.58%
• YTD: 8.42%
• 6M: 17.91%
• 1Y: 41.17%
• 3Y*: 20.26%
• 5Y*: 11.29%
• 10Y*: 9.87%

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

FICQX vs. GTMIX - Expense Ratio Comparison

FICQX has a 0.81% expense ratio, which is higher than GTMIX's 0.68% expense ratio.

FICQX

Fidelity International Capital Appreciation Fund

GTMIX

GMO Tax-Managed International Equities Fund

Return for Risk

FICQX vs. GTMIX — Risk / Return Rank

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

GTMIX

GTMIX Risk / Return Rank: 96
GTMIX Sharpe Ratio Rank: 97
GTMIX Sortino Ratio Rank: 96
GTMIX Omega Ratio Rank: 95
GTMIX Calmar Ratio Rank: 95
GTMIX Martin Ratio Rank: 97

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.

FICQX vs. GTMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Capital Appreciation Fund (FICQX) and GMO Tax-Managed International Equities Fund (GTMIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FICQX	GTMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.67	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.40	-0.84

Correlation

The correlation between FICQX and GTMIX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FICQX vs. GTMIX - Dividend Comparison

FICQX's dividend yield for the trailing twelve months is around 6.28%, less than GTMIX's 20.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICQX Fidelity International Capital Appreciation Fund	6.28%	5.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GTMIX GMO Tax-Managed International Equities Fund	20.69%	22.43%	5.94%	0.36%	5.44%	16.55%	2.25%	4.13%	7.25%	2.96%	4.05%	3.26%

Drawdowns

FICQX vs. GTMIX - Drawdown Comparison

The maximum FICQX drawdown since its inception was -14.45%, smaller than the maximum GTMIX drawdown of -58.31%. Use the drawdown chart below to compare losses from any high point for FICQX and GTMIX.

Drawdown Indicators

	FICQX	GTMIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.45%	-58.31%	+43.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	-11.37%	-4.51%	-6.86%
Average Drawdown Average peak-to-trough decline	-2.79%	-12.75%	+9.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.38%	—

Volatility

Volatility by Period

	FICQX	GTMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	15.56%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.06%	14.91%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	16.06%	+1.00%