FIVA vs. MSFT

Last updated Jun 9, 2026

FIVA (Fidelity International Value Factor ETF) is Foreign Large Cap Equities fund tracking the Fidelity® International Value Factor Index, while MSFT (Microsoft Corporation) is a stock. Over the past 5 years, FIVA returned 12.17%/yr vs 11.09%/yr for MSFT. At a 0.41 correlation, their price movements are largely independent.

Performance

FIVA vs. MSFT - Performance Comparison

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

Returns By Period

In the year-to-date period, FIVA achieves a 11.65% return, which is significantly higher than MSFT's -14.48% return.

FIVA

• 1D: 0.99%
• 1M: 0.96%
• YTD: 11.65%
• 6M: 16.62%
• 1Y: 33.66%
• 3Y*: 21.93%
• 5Y*: 12.17%
• 10Y*: —

MSFT

• 1D: -1.18%
• 1M: -0.60%
• YTD: -14.48%
• 6M: -15.77%
• 1Y: -11.77%
• 3Y*: 8.85%
• 5Y*: 11.09%
• 10Y*: 24.64%

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

FIVA vs. MSFT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIVA Fidelity International Value Factor ETF	11.65%	45.83%	2.53%	20.38%	-10.37%	15.90%	-1.78%	19.78%	-18.62%
MSFT Microsoft Corporation	-14.48%	15.58%	12.93%	58.19%	-28.02%	52.48%	42.53%	57.56%	14.63%

Correlation

The correlation between FIVA and MSFT is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018	0.41

Over the past year, the correlation between FIVA and MSFT has dropped to 0.19 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Return for Risk

FIVA vs. MSFT — Risk / Return Rank

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

FIVA

FIVA Risk / Return Rank: 71
FIVA Sharpe Ratio Rank: 75
FIVA Sortino Ratio Rank: 75
FIVA Omega Ratio Rank: 72
FIVA Calmar Ratio Rank: 64
FIVA Martin Ratio Rank: 68

MSFT

MSFT Risk / Return Rank: 24
MSFT Sharpe Ratio Rank: 21
MSFT Sortino Ratio Rank: 21
MSFT Omega Ratio Rank: 20
MSFT Calmar Ratio Rank: 31
MSFT Martin Ratio Rank: 28

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. MSFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Factor ETF (FIVA) and Microsoft Corporation (MSFT). 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	MSFT	Difference
Sharpe ratio: Return per unit of total volatility	2.18	-0.47	+2.65
Sortino ratio: Return per unit of downside risk	3.01	-0.49	+3.49
Omega ratio: Gain probability vs. loss probability	1.38	0.94	+0.45
Calmar ratio: Return relative to maximum drawdown	2.89	-0.35	+3.24
Martin ratio: Return relative to average drawdown	11.27	-0.73	+12.00
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. MSFT - Sharpe Ratio Comparison

The current FIVA Sharpe Ratio is 2.18, which is higher than the MSFT Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of FIVA and MSFT, 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	MSFT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	-0.47	+2.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.42	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.74	-0.26

Drawdowns

FIVA vs. MSFT - Drawdown Comparison

The maximum FIVA drawdown since its inception was -39.76%, smaller than the maximum MSFT drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for FIVA and MSFT.

Drawdown Indicators

	FIVA	MSFT	Difference
Max Drawdown Largest peak-to-trough decline	-39.76%	-69.38%	+29.62%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-33.91%	+22.20%
Max Drawdown (3Y) Largest decline over 3 years	-14.77%	-33.91%	+19.14%
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	-37.15%	+8.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.15%	—
Current Drawdown Current decline from peak	-1.89%	-23.56%	+21.67%
Average Drawdown Average peak-to-trough decline	-7.77%	-21.78%	+14.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	16.13%	-13.13%

Volatility

FIVA vs. MSFT - Volatility Comparison

The current volatility for Fidelity International Value Factor ETF (FIVA) is 4.87%, while Microsoft Corporation (MSFT) has a volatility of 10.25%. This indicates that FIVA experiences smaller price fluctuations and is considered to be less risky than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVA	MSFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	10.25%	-5.38%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	22.36%	-9.56%
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	25.31%	-9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.39%	26.64%	-10.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.92%	27.06%	-9.14%

Dividends

FIVA vs. MSFT - Dividend Comparison

FIVA's dividend yield for the trailing twelve months is around 2.55%, more than MSFT's 0.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIVA Fidelity International Value Factor ETF	2.55%	2.68%	3.52%	3.63%	3.62%	3.76%	2.46%	3.61%	3.28%	0.00%	0.00%	0.00%
MSFT Microsoft Corporation	0.86%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%

Frequently Asked Questions

Can I hold both FIVA and MSFT in my portfolio?

FIVA and MSFT have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVA or MSFT?

MSFT has higher volatility (10.25%) compared to FIVA (4.87%). In terms of maximum drawdown, FIVA dropped -39.76% vs MSFT's -69.38%.

Which has better risk-adjusted returns?

FIVA currently has the higher Sharpe Ratio (2.18 vs -0.47), 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.