FIDI vs. MCSE
FIDI (Fidelity International High Dividend ETF) and MCSE (Franklin Sustainable International Equity ETF) are both Foreign Large Cap Equities funds. FIDI is passively managed, while MCSE is actively managed. Over the past 3 years, FIDI returned 20.22%/yr vs 0.74%/yr for MCSE. Their 0.64 correlation means they have sometimes moved together and sometimes differently. FIDI charges 0.39%/yr vs 0.59%/yr for MCSE.
Performance
FIDI vs. MCSE - Performance Comparison
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Returns By Period
In the year-to-date period, FIDI achieves a 15.39% return, which is significantly higher than MCSE's 1.12% return.
FIDI
- 1D
- -0.17%
- 1M
- 5.79%
- 6M
- 9.31%
- YTD
- 15.39%
- 1Y
- 31.09%
- 3Y*
- 20.22%
- 5Y*
- 12.48%
- 10Y*
- —
- ALL TIME*
- 6.47%
MCSE
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 1.12%
- 1Y
- 4.30%
- 3Y*
- 0.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.67M | $1.97M | $1.82M | |
| $0.00 | $0.00 | $0.00 |
FIDI vs. MCSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FIDI Fidelity International High Dividend ETF | 15.39% | 39.34% | -0.06% | 16.28% | 10.87% |
MCSE Franklin Sustainable International Equity ETF | 1.12% | 7.79% | -9.46% | 14.86% | 10.04% |
Correlation
The correlation between FIDI and MCSE is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022 | 0.64 |
Over the past year, the correlation between FIDI and MCSE has dropped to 0.40 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
FIDI vs. MCSE — Risk / Return Rank
FIDI
MCSE
FIDI vs. MCSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International High Dividend ETF (FIDI) and Franklin Sustainable International Equity ETF (MCSE). 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.
| FIDI | MCSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.23 | ||
| Sortino ratioReturn per unit of downside risk | +2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.12 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 0.45 | +4.04 |
| Martin ratioReturn relative to average drawdown | 15.56 | 1.13 | +14.43 |
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Drawdowns
FIDI vs. MCSE - Drawdown Comparison
The maximum FIDI drawdown since its inception was -46.34%, which is greater than MCSE's maximum drawdown of -26.36%. Use the drawdown chart below to compare losses from any high point for FIDI and MCSE.
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Drawdown Indicators
| FIDI | MCSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.34% | -26.36% | -19.98% |
Max Drawdown (1Y)Largest decline over 1 year | -6.96% | -10.42% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -26.36% | +14.27% |
Max Drawdown (5Y)Largest decline over 5 years | -26.05% | — | — |
Current DrawdownCurrent decline from peak | -1.09% | -10.51% | +9.42% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -8.80% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 4.37% | -2.37% |
Volatility
FIDI vs. MCSE - Volatility Comparison
Fidelity International High Dividend ETF (FIDI) has a higher volatility of 2.78% compared to Franklin Sustainable International Equity ETF (MCSE) at 0.00%. This indicates that FIDI's price experiences larger fluctuations and is considered to be riskier than MCSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIDI | MCSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.78% | 0.00% | +2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.27% | 1.87% | +7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.62% | 10.29% | +1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 19.07% | -4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 19.07% | -0.46% |
FIDI vs. MCSE - Expense Ratio Comparison
FIDI has a 0.39% expense ratio, which is lower than MCSE's 0.59% expense ratio.
Dividends
FIDI vs. MCSE - Dividend Comparison
FIDI's dividend yield for the trailing twelve months is around 3.90%, more than MCSE's 3.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FIDI Fidelity International High Dividend ETF | 3.90% | 4.33% | 5.72% | 4.80% | 5.09% | 4.00% | 3.36% | 4.26% | 4.37% |
MCSE Franklin Sustainable International Equity ETF | 3.74% | 3.78% | 0.63% | 0.57% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FIDI and MCSE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIDI has higher volatility (2.78%) compared to MCSE (0.00%). In terms of maximum drawdown, FIDI dropped -46.34% vs MCSE's -26.36%.
On 3-year performance, FIDI leads with 20.22% vs 0.74% for MCSE. On fees, FIDI is cheaper at 0.39% per year. On volatility, MCSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FIDI has performed better with a 20.22% return vs 0.74%. 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 0.59% for MCSE.
FIDI has the higher dividend yield at 3.90%, compared with 3.74% for MCSE.
They also come from different issuers: Fidelity and Franklin. Their fees differ too: 0.39% for FIDI and 0.59% for MCSE.
FIDI currently has the higher Sharpe Ratio (2.69 vs 0.46), 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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