FITFX vs. VEA

Last updated Jun 23, 2026

FITFX (Fidelity Flex International Index Fund) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, FITFX returned 9.60%/yr vs 10.37%/yr for VEA. With a 0.96 correlation, they move nearly in lockstep. FITFX charges 0.00%/yr vs 0.03%/yr for VEA.

Performance

FITFX vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex International Index Fund (FITFX) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FITFX having a 16.42% return and VEA slightly higher at 16.69%.

FITFX

• 1D: 1.46%
• 1M: 3.34%
• YTD: 16.42%
• 6M: 17.33%
• 1Y: 35.23%
• 3Y*: 19.10%
• 5Y*: 9.60%
• 10Y*: —

VEA

• 1D: 0.11%
• 1M: 3.28%
• YTD: 16.69%
• 6M: 17.33%
• 1Y: 35.42%
• 3Y*: 20.72%
• 5Y*: 10.37%
• 10Y*: 11.06%

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

FITFX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FITFX Fidelity Flex International Index Fund	16.42%	33.21%	5.37%	15.45%	-15.72%	7.76%	10.77%	21.44%	-13.97%	21.09%
VEA Vanguard FTSE Developed Markets ETF	16.69%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	21.02%

Correlation

The correlation between FITFX and VEA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.96

The correlation between FITFX and VEA has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FITFX vs. VEA — Risk / Return Rank

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

FITFX

FITFX Risk / Return Rank: 65
FITFX Sharpe Ratio Rank: 67
FITFX Sortino Ratio Rank: 60
FITFX Omega Ratio Rank: 67
FITFX Calmar Ratio Rank: 69
FITFX Martin Ratio Rank: 64

VEA

VEA Risk / Return Rank: 67
VEA Sharpe Ratio Rank: 69
VEA Sortino Ratio Rank: 67
VEA Omega Ratio Rank: 69
VEA Calmar Ratio Rank: 64
VEA Martin Ratio Rank: 66

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.

FITFX vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex International Index Fund (FITFX) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	FITFX	VEA	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.16	+0.05
Sortino ratio: Return per unit of downside risk	2.96	2.93	+0.03
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	3.07	3.06	+0.01
Martin ratio: Return relative to average drawdown	11.79	11.80	-0.01

FITFX vs. VEA - Sharpe Ratio Comparison

The current FITFX Sharpe Ratio is 2.21, which is comparable to the VEA Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FITFX and VEA, 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

FITFX vs. VEA - Drawdown Comparison

The maximum FITFX drawdown since its inception was -34.84%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for FITFX and VEA.

Drawdown Indicators

	FITFX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-34.84%	-60.68%	+25.84%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-11.63%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.35%	-13.45%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-29.54%	-29.71%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.73%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.41%	-13.26%	+5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.01%	-0.10%

Volatility

FITFX vs. VEA - Volatility Comparison

Fidelity Flex International Index Fund (FITFX) and Vanguard FTSE Developed Markets ETF (VEA) have volatilities of 6.43% and 6.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FITFX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	6.32%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	13.52%	14.39%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	16.52%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	16.71%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	17.38%	-0.98%

FITFX vs. VEA - Expense Ratio Comparison

FITFX has a 0.00% expense ratio, which is lower than VEA's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FITFX vs. VEA - Dividend Comparison

FITFX's dividend yield for the trailing twelve months is around 2.48%, which matches VEA's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FITFX Fidelity Flex International Index Fund	2.48%	2.88%	2.77%	2.67%	2.60%	2.25%	1.50%	2.54%	1.92%	1.70%	0.00%	0.00%
VEA Vanguard FTSE Developed Markets ETF	2.50%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both FITFX and VEA in my portfolio?

With a correlation of 0.97, FITFX and VEA 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.

Which is riskier, FITFX or VEA?

FITFX has higher volatility (6.43%) compared to VEA (6.32%). In terms of maximum drawdown, FITFX dropped -34.84% vs VEA's -60.68%.

Which has better risk-adjusted returns?

FITFX currently has the higher Sharpe Ratio (2.21 vs 2.16), 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.