FISZX vs. ANDIX

Last updated Jun 4, 2026

FISZX (Fidelity SAI International SMA Completion Fund) and ANDIX (AQR International Defensive Style Fund) are both Foreign Large Cap Equities funds. Their correlation of 0.85 suggests significant overlap in exposure. FISZX charges 0.00%/yr vs 0.55%/yr for ANDIX.

Performance

FISZX vs. ANDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International SMA Completion Fund (FISZX) and AQR International Defensive Style Fund (ANDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FISZX

• 1D: 0.37%
• 1M: 11.60%
• YTD: 27.01%
• 6M: 32.57%
• 1Y: 42.44%
• 3Y*: 22.28%
• 5Y*: 8.95%
• 10Y*: —

ANDIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FISZX vs. ANDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FISZX Fidelity SAI International SMA Completion Fund	27.01%	31.77%	3.61%	15.83%	-28.32%	9.91%	23.49%	13.42%
ANDIX AQR International Defensive Style Fund	5.63%	21.41%	2.83%	12.06%	-14.26%	7.59%	8.43%	8.26%

Correlation

The correlation between FISZX and ANDIX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019	0.85

The correlation between FISZX and ANDIX shifts across timeframes, from 0.73 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FISZX vs. ANDIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FISZX

FISZX Risk / Return Rank: 55
FISZX Sharpe Ratio Rank: 56
FISZX Sortino Ratio Rank: 51
FISZX Omega Ratio Rank: 52
FISZX Calmar Ratio Rank: 57
FISZX Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FISZX vs. ANDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International SMA Completion Fund (FISZX) and AQR International Defensive Style Fund (ANDIX). 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.

	FISZX	ANDIX	Difference
Sharpe ratio Return per unit of total volatility	2.21	—	—
Sortino ratio Return per unit of downside risk	3.01	—	—
Omega ratio Gain probability vs. loss probability	1.40	—	—
Calmar ratio Return relative to maximum drawdown	2.89	—	—
Martin ratio Return relative to average drawdown	11.38	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FISZX	ANDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	—	—

Drawdowns

Drawdown Indicators

	FISZX	ANDIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.92%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.63%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.92%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-12.37%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	—	—

Volatility

Volatility by Period

	FISZX	ANDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.93%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.84%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	—	—

FISZX vs. ANDIX - Expense Ratio Comparison

FISZX has a 0.00% expense ratio, which is lower than ANDIX's 0.55% expense ratio.

Dividends

FISZX vs. ANDIX - Dividend Comparison

FISZX's dividend yield for the trailing twelve months is around 1.52%, less than ANDIX's 70.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANDIX AQR International Defensive Style Fund	70.16%	4.74%	2.29%	3.02%	2.00%	2.53%	1.73%	2.51%	2.40%	3.30%	1.47%	2.09%
FISZX Fidelity SAI International SMA Completion Fund	1.52%	1.92%	2.55%	1.89%	1.37%	6.08%	0.90%	0.27%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FISZX and ANDIX in my portfolio?

FISZX and ANDIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.