FIEUX vs. IQLT
FIEUX (Fidelity Europe Fund) and IQLT (iShares MSCI Intl Quality Factor ETF) are both funds - FIEUX is a Europe Equities fund managed by Fidelity, while IQLT is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net). Over the past 10 years, FIEUX returned 8.48%/yr vs 10.24%/yr for IQLT. Their correlation of 0.84 suggests significant overlap in exposure. FIEUX charges 1.06%/yr vs 0.30%/yr for IQLT.
Performance
FIEUX vs. IQLT - Performance Comparison
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Returns By Period
In the year-to-date period, FIEUX achieves a 8.51% return, which is significantly lower than IQLT's 10.21% return. Over the past 10 years, FIEUX has underperformed IQLT with an annualized return of 8.48%, while IQLT has yielded a comparatively higher 10.24% annualized return.
FIEUX
- 1D
- 0.86%
- 1M
- 1.93%
- YTD
- 8.51%
- 6M
- 9.32%
- 1Y
- 21.69%
- 3Y*
- 16.47%
- 5Y*
- 6.43%
- 10Y*
- 8.48%
IQLT
- 1D
- 0.02%
- 1M
- 1.46%
- YTD
- 10.21%
- 6M
- 10.35%
- 1Y
- 20.82%
- 3Y*
- 15.23%
- 5Y*
- 7.82%
- 10Y*
- 10.24%
FIEUX vs. IQLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIEUX Fidelity Europe Fund | 8.51% | 37.53% | 4.21% | 13.68% | -20.62% | 6.63% | 18.29% | 24.43% | -17.22% | 29.16% |
IQLT iShares MSCI Intl Quality Factor ETF | 10.21% | 25.42% | 1.54% | 18.73% | -15.22% | 12.94% | 12.48% | 28.18% | -10.76% | 24.04% |
Correlation
The correlation between FIEUX and IQLT is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2015 | 0.84 |
The correlation between FIEUX and IQLT has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.
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Return for Risk
FIEUX vs. IQLT — Risk / Return Rank
FIEUX
IQLT
FIEUX vs. IQLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Europe Fund (FIEUX) and iShares MSCI Intl Quality Factor ETF (IQLT). 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.
| FIEUX | IQLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.01 | -0.29 |
| Martin ratioReturn relative to average drawdown | 6.40 | 7.67 | -1.26 |
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Drawdowns
FIEUX vs. IQLT - Drawdown Comparison
The maximum FIEUX drawdown since its inception was -59.96%, which is greater than IQLT's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for FIEUX and IQLT.
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Drawdown Indicators
| FIEUX | IQLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -32.21% | -27.75% |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | -10.38% | -2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -13.27% | -13.18% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -38.04% | -30.24% | -7.80% |
Max Drawdown (10Y)Largest decline over 10 years | -38.04% | -32.21% | -5.83% |
Current DrawdownCurrent decline from peak | 0.00% | -0.16% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -6.20% | -7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 2.72% | +0.61% |
Volatility
FIEUX vs. IQLT - Volatility Comparison
Fidelity Europe Fund (FIEUX) has a higher volatility of 6.15% compared to iShares MSCI Intl Quality Factor ETF (IQLT) at 4.82%. This indicates that FIEUX's price experiences larger fluctuations and is considered to be riskier than IQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIEUX | IQLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 4.82% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 14.84% | 12.64% | +2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.00% | 14.90% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 16.53% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 16.94% | +1.01% |
FIEUX vs. IQLT - Expense Ratio Comparison
FIEUX has a 1.06% expense ratio, which is higher than IQLT's 0.30% expense ratio.
Dividends
FIEUX vs. IQLT - Dividend Comparison
FIEUX's dividend yield for the trailing twelve months is around 2.06%, less than IQLT's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIEUX Fidelity Europe Fund | 2.06% | 2.23% | 3.28% | 1.62% | 0.00% | 16.10% | 1.15% | 7.42% | 11.93% | 2.52% | 1.51% | 0.43% |
IQLT iShares MSCI Intl Quality Factor ETF | 2.42% | 2.33% | 2.87% | 2.27% | 3.14% | 2.24% | 1.61% | 2.28% | 2.72% | 2.36% | 2.91% | 2.78% |
Frequently Asked Questions
With a correlation of 0.92, FIEUX and IQLT 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.
FIEUX has higher volatility (6.15%) compared to IQLT (4.82%). In terms of maximum drawdown, FIEUX dropped -59.96% vs IQLT's -32.21%.
IQLT currently has the higher Sharpe Ratio (1.41 vs 1.26), 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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