FIONX vs. FTCNX

Last updated Aug 1, 2026

FIONX (Fidelity SAI International Index Fund) and FTCNX (Fidelity Advisor Canada Fund Class M) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FIONX returned 9.59%/yr vs 10.70%/yr for FTCNX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FIONX charges 0.04%/yr vs 1.40%/yr for FTCNX.

Performance

FIONX vs. FTCNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International Index Fund (FIONX) and Fidelity Advisor Canada Fund Class M (FTCNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIONX achieves a 12.54% return, which is significantly higher than FTCNX's 9.66% return.

FIONX

• 1D: 2.56%
• 1M: 1.97%
• 6M: 7.14%
• YTD: 12.54%
• 1Y: 26.16%
• 3Y*: 16.44%
• 5Y*: 9.59%
• 10Y*: —
• ALL TIME*: 9.71%

FTCNX

• 1D: 0.37%
• 1M: 4.14%
• 6M: 9.73%
• YTD: 9.66%
• 1Y: 20.30%
• 3Y*: 15.36%
• 5Y*: 10.70%
• 10Y*: 9.90%
• ALL TIME*: 5.77%

*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)
FIONX Fidelity SAI International Index Fund	$0.00	$0.00	$0.00
FTCNX Fidelity Advisor Canada Fund Class M	$0.00	$0.00	$0.00

FIONX vs. FTCNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIONX Fidelity SAI International Index Fund	12.54%	31.85%	3.64%	18.22%	-14.19%	11.24%	8.17%	22.09%	-13.59%	22.53%
FTCNX Fidelity Advisor Canada Fund Class M	9.66%	25.18%	8.57%	14.02%	-6.70%	26.10%	3.82%	25.08%	-14.85%	12.87%

Correlation

The correlation between FIONX and FTCNX is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.75

The correlation between FIONX and FTCNX shifts across timeframes, from 0.58 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIONX vs. FTCNX — Risk / Return Rank

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

FIONX

FIONX Risk / Return Rank: 67
FIONX Sharpe Ratio Rank: 69
FIONX Sortino Ratio Rank: 67
FIONX Omega Ratio Rank: 66
FIONX Calmar Ratio Rank: 66
FIONX Martin Ratio Rank: 66

FTCNX

FTCNX Risk / Return Rank: 56
FTCNX Sharpe Ratio Rank: 55
FTCNX Sortino Ratio Rank: 48
FTCNX Omega Ratio Rank: 50
FTCNX Calmar Ratio Rank: 73
FTCNX Martin Ratio Rank: 56

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.

FIONX vs. FTCNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Index Fund (FIONX) and Fidelity Advisor Canada Fund Class M (FTCNX). 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.

	FIONX	FTCNX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.46	+0.15
Sortino ratio: Return per unit of downside risk	2.28	1.98	+0.30
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	2.19	2.45	-0.26
Martin ratio: Return relative to average drawdown	8.28	7.67	+0.61

FIONX vs. FTCNX - Sharpe Ratio Comparison

The current FIONX Sharpe Ratio is 1.61, which is comparable to the FTCNX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FIONX and FTCNX, 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

FIONX vs. FTCNX - Drawdown Comparison

The maximum FIONX drawdown since its inception was -33.69%, smaller than the maximum FTCNX drawdown of -58.27%. Use the drawdown chart below to compare losses from any high point for FIONX and FTCNX.

Drawdown Indicators

	FIONX	FTCNX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-58.27%	+24.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-7.65%	-3.75%
Max Drawdown (3Y) Largest decline over 3 years	-13.62%	-12.23%	-1.39%
Max Drawdown (5Y) Largest decline over 5 years	-29.49%	-21.21%	-8.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.92%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.29%	-12.30%	+6.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.44%	+0.57%

Volatility

FIONX vs. FTCNX - Volatility Comparison

Fidelity SAI International Index Fund (FIONX) has a higher volatility of 4.55% compared to Fidelity Advisor Canada Fund Class M (FTCNX) at 2.33%. This indicates that FIONX's price experiences larger fluctuations and is considered to be riskier than FTCNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIONX	FTCNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	2.33%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	13.21%	10.21%	+3.00%
Volatility (1Y) Calculated over the trailing 1-year period	15.54%	12.88%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.17%	15.90%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	17.35%	-0.80%

FIONX vs. FTCNX - Expense Ratio Comparison

FIONX has a 0.04% expense ratio, which is lower than FTCNX's 1.40% expense ratio.

Dividends

FIONX vs. FTCNX - Dividend Comparison

FIONX's dividend yield for the trailing twelve months is around 2.91%, less than FTCNX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIONX Fidelity SAI International Index Fund	2.91%	3.28%	3.06%	2.18%	3.34%	2.65%	1.91%	3.16%	3.00%	0.52%	0.00%	0.00%
FTCNX Fidelity Advisor Canada Fund Class M	4.68%	5.13%	6.90%	2.83%	3.47%	4.58%	1.99%	3.89%	6.55%	0.90%	1.08%	0.15%

Frequently Asked Questions

Can I hold both FIONX and FTCNX in my portfolio?

FIONX and FTCNX have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIONX or FTCNX?

FIONX has higher volatility (4.55%) compared to FTCNX (2.33%). In terms of maximum drawdown, FIONX dropped -33.69% vs FTCNX's -58.27%.

Which has better risk-adjusted returns?

FIONX currently has the higher Sharpe Ratio (1.61 vs 1.46), 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.