FIDI vs. IQDY
FIDI (Fidelity International High Dividend ETF) and IQDY (FlexShares International Quality Dividend Dynamic Index Fund) are both Foreign Large Cap Equities funds - FIDI tracks the Fidelity® International High Dividend Index while IQDY tracks the Northern Trust International Quality Dividend Dynamic Index. Both are passively managed. Over the past 5 years, FIDI returned 10.43%/yr vs 11.45%/yr for IQDY. Their correlation of 0.84 suggests significant overlap in exposure. FIDI charges 0.39%/yr vs 0.47%/yr for IQDY.
Performance
FIDI vs. IQDY - Performance Comparison
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Returns By Period
In the year-to-date period, FIDI achieves a 8.93% return, which is significantly lower than IQDY's 17.95% return.
FIDI
- 1D
- -0.57%
- 1M
- 0.38%
- YTD
- 8.93%
- 6M
- 12.21%
- 1Y
- 25.24%
- 3Y*
- 19.10%
- 5Y*
- 10.43%
- 10Y*
- —
IQDY
- 1D
- -0.89%
- 1M
- 6.55%
- YTD
- 17.95%
- 6M
- 20.74%
- 1Y
- 41.61%
- 3Y*
- 24.42%
- 5Y*
- 11.45%
- 10Y*
- 11.61%
FIDI vs. IQDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FIDI Fidelity International High Dividend ETF | 8.93% | 39.34% | -0.06% | 16.28% | -4.73% | 16.87% | -11.68% | 15.47% | -20.16% |
IQDY FlexShares International Quality Dividend Dynamic Index Fund | 17.95% | 37.44% | 5.97% | 23.45% | -15.78% | 12.00% | 9.54% | 27.27% | -23.80% |
Correlation
The correlation between FIDI and IQDY is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2018 | 0.84 |
The correlation between FIDI and IQDY has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
FIDI vs. IQDY — Risk / Return Rank
FIDI
IQDY
FIDI vs. IQDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International High Dividend ETF (FIDI) and FlexShares International Quality Dividend Dynamic Index Fund (IQDY). 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.
| FIDI | IQDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.47 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 4.01 | -0.37 |
| Martin ratioReturn relative to average drawdown | 13.04 | 15.76 | -2.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIDI | IQDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.63 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.65 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.50 | -0.19 |
Drawdowns
FIDI vs. IQDY - Drawdown Comparison
The maximum FIDI drawdown since its inception was -46.34%, which is greater than IQDY's maximum drawdown of -39.60%. Use the drawdown chart below to compare losses from any high point for FIDI and IQDY.
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Drawdown Indicators
| FIDI | IQDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.34% | -39.60% | -6.74% |
Max Drawdown (1Y)Largest decline over 1 year | -6.96% | -10.42% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -14.76% | +2.67% |
Max Drawdown (5Y)Largest decline over 5 years | -26.05% | -33.03% | +6.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.60% | — |
Current DrawdownCurrent decline from peak | -2.24% | -0.89% | -1.35% |
Average DrawdownAverage peak-to-trough decline | -9.79% | -9.10% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 2.65% | -0.71% |
Volatility
FIDI vs. IQDY - Volatility Comparison
The current volatility for Fidelity International High Dividend ETF (FIDI) is 3.09%, while FlexShares International Quality Dividend Dynamic Index Fund (IQDY) has a volatility of 5.84%. This indicates that FIDI experiences smaller price fluctuations and is considered to be less risky than IQDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIDI | IQDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 5.84% | -2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 9.00% | 13.40% | -4.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 15.93% | -4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.84% | 17.81% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.73% | 18.43% | +0.30% |
FIDI vs. IQDY - Expense Ratio Comparison
FIDI has a 0.39% expense ratio, which is lower than IQDY's 0.47% expense ratio.
Dividends
FIDI vs. IQDY - Dividend Comparison
FIDI's dividend yield for the trailing twelve months is around 4.13%, more than IQDY's 2.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDI Fidelity International High Dividend ETF | 4.13% | 4.33% | 5.72% | 4.80% | 5.09% | 4.00% | 3.36% | 4.26% | 4.37% | 0.00% | 0.00% | 0.00% |
IQDY FlexShares International Quality Dividend Dynamic Index Fund | 2.76% | 3.26% | 6.95% | 6.45% | 5.52% | 3.89% | 2.62% | 3.85% | 5.97% | 3.57% | 3.77% | 4.08% |
Frequently Asked Questions
FIDI and IQDY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IQDY has higher volatility (5.84%) compared to FIDI (3.09%). In terms of maximum drawdown, FIDI dropped -46.34% vs IQDY's -39.60%.
On 5-year performance, IQDY leads with 11.45% vs 10.43% for FIDI. On fees, FIDI is cheaper at 0.39% per year. On volatility, FIDI has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IQDY has performed better with a 11.45% return vs 10.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIDI is cheaper with a 0.39% expense ratio, compared with 0.47% for IQDY.
FIDI has the higher dividend yield at 4.13%, compared with 2.76% for IQDY.
FIDI tracks Fidelity® International High Dividend Index, while IQDY tracks Northern Trust International Quality Dividend Dynamic Index. They also come from different issuers: Fidelity and Northern Trust. Their fees differ too: 0.39% for FIDI and 0.47% for IQDY.
IQDY currently has the higher Sharpe Ratio (2.63 vs 2.19), 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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