FIVA vs. FIWCX

Last updated Jun 5, 2026

FIVA (Fidelity International Value Factor ETF) and FIWCX (Fidelity SAI International Value Index Fund) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FIVA returned 12.68%/yr vs 12.93%/yr for FIWCX. Their correlation of 0.92 suggests significant overlap in exposure. FIVA charges 0.39%/yr vs 0.17%/yr for FIWCX.

Performance

FIVA vs. FIWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Value Factor ETF (FIVA) and Fidelity SAI International Value Index Fund (FIWCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FIVA having a 13.80% return and FIWCX slightly lower at 13.74%.

FIVA

• 1D: 0.78%
• 1M: 4.83%
• YTD: 13.80%
• 6M: 18.54%
• 1Y: 36.85%
• 3Y*: 23.22%
• 5Y*: 12.68%
• 10Y*: —

FIWCX

• 1D: -0.62%
• 1M: 3.39%
• YTD: 13.74%
• 6M: 17.20%
• 1Y: 34.59%
• 3Y*: 23.57%
• 5Y*: 12.93%
• 10Y*: —

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

FIVA vs. FIWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIVA Fidelity International Value Factor ETF	13.80%	45.83%	2.53%	20.38%	-10.37%	15.90%	-1.78%	19.78%	-19.20%
FIWCX Fidelity SAI International Value Index Fund	13.74%	43.38%	4.94%	18.99%	-5.96%	13.88%	-3.94%	17.30%	-20.33%

Correlation

The correlation between FIVA and FIWCX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 19, 2018	0.92

The correlation between FIVA and FIWCX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FIVA vs. FIWCX — Risk / Return Rank

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

FIVA

FIVA Risk / Return Rank: 72
FIVA Sharpe Ratio Rank: 76
FIVA Sortino Ratio Rank: 76
FIVA Omega Ratio Rank: 73
FIVA Calmar Ratio Rank: 64
FIVA Martin Ratio Rank: 68

FIWCX

FIWCX Risk / Return Rank: 64
FIWCX Sharpe Ratio Rank: 67
FIWCX Sortino Ratio Rank: 61
FIWCX Omega Ratio Rank: 60
FIWCX Calmar Ratio Rank: 68
FIWCX Martin Ratio Rank: 62

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.

FIVA vs. FIWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Factor ETF (FIVA) and Fidelity SAI International Value Index Fund (FIWCX). 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.

	FIVA	FIWCX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	2.39	+0.05
Sortino ratio: Return per unit of downside risk	3.38	3.27	+0.10
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.16	3.14	+0.03
Martin ratio: Return relative to average drawdown	12.37	12.14	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIVA vs. FIWCX - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.44, which is comparable to the FIWCX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of FIVA and FIWCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIVA	FIWCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	2.39	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.81	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.50	-0.01

Drawdowns

FIVA vs. FIWCX - Drawdown Comparison

The maximum FIVA drawdown since its inception was -39.76%, smaller than the maximum FIWCX drawdown of -42.73%. Use the drawdown chart below to compare losses from any high point for FIVA and FIWCX.

Drawdown Indicators

	FIVA	FIWCX	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-42.73%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-11.13%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-14.77%	-14.83%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	-28.49%	-0.21%
Current Drawdown Current decline from peak	0.00%	-0.62%	+0.62%
Average Drawdown Average peak-to-trough decline	-7.77%	-9.08%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	2.86%	+0.13%

Volatility

FIVA vs. FIWCX - Volatility Comparison

Fidelity International Value Factor ETF (FIVA) has a higher volatility of 4.91% compared to Fidelity SAI International Value Index Fund (FIWCX) at 4.24%. This indicates that FIVA's price experiences larger fluctuations and is considered to be riskier than FIWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVA	FIWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	4.24%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	11.48%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	14.65%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	16.16%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	18.22%	-0.32%

FIVA vs. FIWCX - Expense Ratio Comparison

FIVA has a 0.39% expense ratio, which is higher than FIWCX's 0.17% expense ratio.

Dividends

FIVA vs. FIWCX - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.50%, less than FIWCX's 6.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIVA Fidelity International Value Factor ETF	2.50%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%	0.00%
FIWCX Fidelity SAI International Value Index Fund	6.13%	6.97%	4.26%	5.88%	4.66%	8.74%	1.58%	3.40%	2.18%	0.07%

Frequently Asked Questions

Can I hold both FIVA and FIWCX in my portfolio?

With a correlation of 0.93, FIVA and FIWCX 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, FIVA or FIWCX?

FIVA has higher volatility (4.91%) compared to FIWCX (4.24%). In terms of maximum drawdown, FIVA dropped -39.76% vs FIWCX's -42.73%.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.44 vs 2.39), 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.