FISMX vs. FSPSX
FISMX (Fidelity International Small Cap Fund) and FSPSX (Fidelity International Index Fund) are both mutual funds - FISMX is a Foreign Small & Mid Cap Equities fund managed by Fidelity, while FSPSX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index. Over the past 10 years, FISMX returned 8.14%/yr vs 9.35%/yr for FSPSX. Their correlation of 0.89 means they have usually moved in the same direction. FISMX charges 1.01%/yr vs 0.04%/yr for FSPSX.
Performance
FISMX vs. FSPSX - Performance Comparison
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Returns By Period
In the year-to-date period, FISMX achieves a 4.51% return, which is significantly lower than FSPSX's 9.82% return. Over the past 10 years, FISMX has underperformed FSPSX with an annualized return of 8.14%, while FSPSX has yielded a comparatively higher 9.35% annualized return.
FISMX
- 1D
- -1.11%
- 1M
- -4.04%
- 6M
- -1.21%
- YTD
- 4.51%
- 1Y
- 9.72%
- 3Y*
- 10.86%
- 5Y*
- 5.35%
- 10Y*
- 8.14%
- ALL TIME*
- 11.14%
FSPSX
- 1D
- -0.04%
- 1M
- 0.10%
- 6M
- 4.15%
- YTD
- 9.82%
- 1Y
- 20.61%
- 3Y*
- 15.55%
- 5Y*
- 8.94%
- 10Y*
- 9.35%
- ALL TIME*
- 8.10%
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 |
FISMX vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FISMX Fidelity International Small Cap Fund | 4.51% | 24.73% | 0.05% | 19.62% | -16.66% | 13.44% | 9.98% | 21.45% | -16.08% | 31.58% |
FSPSX Fidelity International Index Fund | 9.82% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 22.03% | -13.55% | 25.37% |
Correlation
The correlation between FISMX and FSPSX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2011 | 0.89 |
The correlation between FISMX and FSPSX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
FISMX vs. FSPSX — Risk / Return Rank
FISMX
FSPSX
FISMX vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International Small Cap Fund (FISMX) and Fidelity International Index Fund (FSPSX). 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.
| FISMX | FSPSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.24 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 1.81 | -0.90 |
| Martin ratioReturn relative to average drawdown | 2.98 | 6.85 | -3.87 |
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Drawdowns
FISMX vs. FSPSX - Drawdown Comparison
The maximum FISMX drawdown since its inception was -60.94%, which is greater than FSPSX's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FISMX and FSPSX.
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Drawdown Indicators
| FISMX | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.94% | -33.69% | -27.25% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -11.39% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -12.70% | -13.58% | +0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -31.07% | -29.41% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -38.80% | -33.69% | -5.11% |
Current DrawdownCurrent decline from peak | -6.21% | -1.65% | -4.56% |
Average DrawdownAverage peak-to-trough decline | -10.60% | -6.50% | -4.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.01% | +0.24% |
Volatility
FISMX vs. FSPSX - Volatility Comparison
Fidelity International Small Cap Fund (FISMX) has a higher volatility of 4.26% compared to Fidelity International Index Fund (FSPSX) at 3.93%. This indicates that FISMX's price experiences larger fluctuations and is considered to be riskier than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FISMX | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 3.93% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.84% | 13.12% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.57% | 15.41% | -1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.77% | 16.09% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.93% | 16.28% | -2.35% |
FISMX vs. FSPSX - Expense Ratio Comparison
FISMX has a 1.01% expense ratio, which is higher than FSPSX's 0.04% expense ratio.
Dividends
FISMX vs. FSPSX - Dividend Comparison
FISMX's dividend yield for the trailing twelve months is around 3.43%, more than FSPSX's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FISMX Fidelity International Small Cap Fund | 3.43% | 3.58% | 2.64% | 1.87% | 0.70% | 7.28% | 0.83% | 2.32% | 6.14% | 2.46% | 2.70% | 2.80% |
FSPSX Fidelity International Index Fund | 2.87% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Frequently Asked Questions
FISMX and FSPSX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FISMX has higher volatility (4.26%) compared to FSPSX (3.93%). In terms of maximum drawdown, FISMX dropped -60.94% vs FSPSX's -33.69%.
FSPSX currently has the higher Sharpe Ratio (1.35 vs 0.72), 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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