FIVA vs. FIWCX

Last updated Aug 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 14.16%/yr vs 14.73%/yr for FIWCX. Their correlation of 0.92 means they have usually moved in the same direction. FIVA charges 0.18%/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 investments are quite close, with FIVA having a 18.57% return and FIWCX slightly higher at 19.38%.

FIVA

• 1D: 0.87%
• 1M: 3.50%
• 6M: 9.84%
• YTD: 18.57%
• 1Y: 39.55%
• 3Y*: 23.13%
• 5Y*: 14.16%
• 10Y*: —
• ALL TIME*: 9.21%

FIWCX

• 1D: 0.54%
• 1M: 4.37%
• 6M: 10.76%
• YTD: 19.38%
• 1Y: 37.28%
• 3Y*: 23.46%
• 5Y*: 14.73%
• 10Y*: —
• ALL TIME*: 9.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIVA Fidelity International Value Factor ETF	$3.16M	$3.09M	$3.15M
FIWCX Fidelity SAI International Value Index Fund	$0.00	$0.00	$0.00

FIVA vs. FIWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIVA Fidelity International Value Factor ETF	18.57%	45.83%	2.53%	20.38%	-10.37%	15.90%	-1.78%	19.78%	-18.62%
FIWCX Fidelity SAI International Value Index Fund	19.38%	43.38%	4.94%	18.99%	-5.96%	13.88%	-3.94%	17.30%	-20.55%

Correlation

The correlation between FIVA and FIWCX is 0.92, 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.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Jan 18, 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 historical risk-adjusted metric ranks over the past 12 months.

FIVA

FIVA Risk / Return Rank: 88
FIVA Sharpe Ratio Rank: 91
FIVA Sortino Ratio Rank: 90
FIVA Omega Ratio Rank: 88
FIVA Calmar Ratio Rank: 83
FIVA Martin Ratio Rank: 86

FIWCX

FIWCX Risk / Return Rank: 92
FIWCX Sharpe Ratio Rank: 95
FIWCX Sortino Ratio Rank: 92
FIWCX Omega Ratio Rank: 90
FIWCX Calmar Ratio Rank: 89
FIWCX Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	FIVA	FIWCX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.62	-0.14
Sortino ratio: Return per unit of downside risk	3.41	3.54	-0.13
Omega ratio: Gain probability vs. loss probability	1.43	1.46	-0.03
Calmar ratio: Return relative to maximum drawdown	3.39	3.53	-0.14
Martin ratio: Return relative to average drawdown	13.44	13.84	-0.39

FIVA vs. FIWCX - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.49, which is comparable to the FIWCX Sharpe Ratio of 2.62. 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.

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%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	-7.64%	-8.92%	+1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.83%	+0.12%

Volatility

FIVA vs. FIWCX - Volatility Comparison

Fidelity International Value Factor ETF (FIVA) has a higher volatility of 4.36% compared to Fidelity SAI International Value Index Fund (FIWCX) at 4.14%. 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	4.36%	4.14%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	13.77%	12.59%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.00%	15.01%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.46%	16.21%	+0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	18.18%	-0.27%

FIVA vs. FIWCX - Expense Ratio Comparison

FIVA has a 0.18% expense ratio, which is higher than FIWCX's 0.17% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FIVA vs. FIWCX - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.54%, less than FIWCX's 5.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIVA Fidelity International Value Factor ETF	2.54%	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	5.84%	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 0.92, 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 (4.36%) compared to FIWCX (4.14%). In terms of maximum drawdown, FIVA dropped -39.76% vs FIWCX's -42.73%.

Which has better risk-adjusted returns?

FIWCX currently has the higher Sharpe Ratio (2.62 vs 2.49), 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.