FIQIX vs. FSISX
FIQIX (Fidelity Advisor International Small Cap Fund Class Z) and FSISX (Fidelity SAI International Small Cap Index Fund) are both Foreign Small & Mid Cap Equities funds from Fidelity. Over the past 5 years, FIQIX returned 5.94%/yr vs 5.71%/yr for FSISX. Their 0.95 correlation means they have historically moved very closely together. FIQIX charges 0.89%/yr vs 0.10%/yr for FSISX.
Performance
FIQIX vs. FSISX - Performance Comparison
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Returns By Period
In the year-to-date period, FIQIX achieves a 6.19% return, which is significantly lower than FSISX's 10.59% return.
FIQIX
- 1D
- 2.21%
- 1M
- -2.29%
- 6M
- 1.63%
- YTD
- 6.19%
- 1Y
- 12.51%
- 3Y*
- 11.53%
- 5Y*
- 5.94%
- 10Y*
- —
- ALL TIME*
- 8.35%
FSISX
- 1D
- 2.13%
- 1M
- 1.59%
- 6M
- 5.03%
- YTD
- 10.59%
- 1Y
- 20.79%
- 3Y*
- 15.34%
- 5Y*
- 5.71%
- 10Y*
- —
- ALL TIME*
- 5.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FIQIX vs. FSISX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FIQIX Fidelity Advisor International Small Cap Fund Class Z | 6.19% | 24.80% | 0.14% | 19.76% | -16.53% | 0.45% |
FSISX Fidelity SAI International Small Cap Index Fund | 10.59% | 32.61% | 1.74% | 13.23% | -21.18% | -0.40% |
Correlation
The correlation between FIQIX and FSISX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 27, 2021 | 0.95 |
The correlation between FIQIX and FSISX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
FIQIX vs. FSISX — Risk / Return Rank
FIQIX
FSISX
FIQIX vs. FSISX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class Z (FIQIX) and Fidelity SAI International Small Cap Index Fund (FSISX). 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.
| FIQIX | FSISX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.80 | -0.63 |
| Martin ratioReturn relative to average drawdown | 3.80 | 6.31 | -2.51 |
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Drawdowns
FIQIX vs. FSISX - Drawdown Comparison
The maximum FIQIX drawdown since its inception was -36.61%, roughly equal to the maximum FSISX drawdown of -36.84%. Use the drawdown chart below to compare losses from any high point for FIQIX and FSISX.
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Drawdown Indicators
| FIQIX | FSISX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.61% | -36.84% | +0.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.72% | -11.73% | +1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.65% | -14.32% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -30.95% | -36.84% | +5.89% |
Current DrawdownCurrent decline from peak | -4.75% | -1.03% | -3.72% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -12.80% | +6.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.29% | 3.33% | -0.04% |
Volatility
FIQIX vs. FSISX - Volatility Comparison
Fidelity Advisor International Small Cap Fund Class Z (FIQIX) has a higher volatility of 4.76% compared to Fidelity SAI International Small Cap Index Fund (FSISX) at 4.39%. This indicates that FIQIX's price experiences larger fluctuations and is considered to be riskier than FSISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIQIX | FSISX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 4.39% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 11.98% | 11.84% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 14.24% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.80% | 15.98% | -2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.20% | 15.86% | -0.66% |
FIQIX vs. FSISX - Expense Ratio Comparison
FIQIX has a 0.89% expense ratio, which is higher than FSISX's 0.10% expense ratio.
Dividends
FIQIX vs. FSISX - Dividend Comparison
FIQIX's dividend yield for the trailing twelve months is around 3.47%, more than FSISX's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FIQIX Fidelity Advisor International Small Cap Fund Class Z | 3.47% | 3.68% | 2.73% | 1.99% | 0.83% | 7.39% | 0.93% | 2.47% | 6.33% |
FSISX Fidelity SAI International Small Cap Index Fund | 3.34% | 3.70% | 3.33% | 3.13% | 3.02% | 1.30% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, FIQIX and FSISX 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.
FIQIX has higher volatility (4.76%) compared to FSISX (4.39%). In terms of maximum drawdown, FIQIX dropped -36.61% vs FSISX's -36.84%.
FSISX currently has the higher Sharpe Ratio (1.49 vs 0.92), 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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