FIVLX vs. FXAIX

Last updated Aug 4, 2026

FIVLX (Fidelity International Value Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FIVLX is a Foreign Large Cap Equities fund actively managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. FIVLX is actively managed, while FXAIX is passively managed. Over the past 10 years, FIVLX returned 10.00%/yr vs 15.16%/yr for FXAIX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FIVLX charges 0.80%/yr vs 0.02%/yr for FXAIX.

Performance

FIVLX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Value Fund (FIVLX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIVLX achieves a 10.76% return, which is significantly higher than FXAIX's 10.13% return. Over the past 10 years, FIVLX has underperformed FXAIX with an annualized return of 10.00%, while FXAIX has yielded a comparatively higher 15.16% annualized return.

FIVLX

• 1D: -0.51%
• 1M: 1.96%
• 6M: 4.69%
• YTD: 10.76%
• 1Y: 26.85%
• 3Y*: 21.13%
• 5Y*: 13.82%
• 10Y*: 10.00%
• ALL TIME*: 4.95%

FXAIX

• 1D: 0.71%
• 1M: 0.15%
• 6M: 7.97%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.42%
• 5Y*: 12.84%
• 10Y*: 15.16%
• ALL TIME*: 13.94%

*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)
FIVLX Fidelity International Value Fund	$0.00	$0.00	$0.00
FXAIX Fidelity 500 Index Fund	$0.00	$0.00	$0.00

FIVLX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIVLX Fidelity International Value Fund	10.76%	43.67%	5.33%	19.27%	-7.99%	14.89%	3.36%	18.92%	-17.17%	17.85%
FXAIX Fidelity 500 Index Fund	10.13%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FIVLX and FXAIX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.75

The correlation between FIVLX and FXAIX has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

FIVLX vs. FXAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIVLX

FIVLX Risk / Return Rank: 72
FIVLX Sharpe Ratio Rank: 73
FIVLX Sortino Ratio Rank: 72
FIVLX Omega Ratio Rank: 69
FIVLX Calmar Ratio Rank: 75
FIVLX Martin Ratio Rank: 72

FXAIX

FXAIX Risk / Return Rank: 59
FXAIX Sharpe Ratio Rank: 56
FXAIX Sortino Ratio Rank: 52
FXAIX Omega Ratio Rank: 53
FXAIX Calmar Ratio Rank: 61
FXAIX Martin Ratio Rank: 74

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.

FIVLX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Value Fund (FIVLX) and Fidelity 500 Index Fund (FXAIX). 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.

	FIVLX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.53	+0.24
Sortino ratio: Return per unit of downside risk	2.51	2.12	+0.39
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.54	2.21	+0.33
Martin ratio: Return relative to average drawdown	9.31	9.48	-0.17

FIVLX vs. FXAIX - Sharpe Ratio Comparison

The current FIVLX Sharpe Ratio is 1.77, which is comparable to the FXAIX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FIVLX and FXAIX, 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

FIVLX vs. FXAIX - Drawdown Comparison

The maximum FIVLX drawdown since its inception was -65.21%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FIVLX and FXAIX.

Drawdown Indicators

	FIVLX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.21%	-33.79%	-31.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.44%	-8.89%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-14.48%	-18.76%	+4.28%
Max Drawdown (5Y) Largest decline over 5 years	-27.49%	-24.50%	-2.99%
Max Drawdown (10Y) Largest decline over 10 years	-43.43%	-33.79%	-9.64%
Current Drawdown Current decline from peak	-0.51%	-1.41%	+0.90%
Average Drawdown Average peak-to-trough decline	-16.94%	-3.77%	-13.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.07%	+0.77%

Volatility

FIVLX vs. FXAIX - Volatility Comparison

Fidelity International Value Fund (FIVLX) has a higher volatility of 4.39% compared to Fidelity 500 Index Fund (FXAIX) at 3.52%. This indicates that FIVLX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVLX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	3.52%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	10.11%	+2.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.99%	12.87%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	17.02%	-0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	18.07%	-0.46%

FIVLX vs. FXAIX - Expense Ratio Comparison

FIVLX has a 0.80% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FIVLX vs. FXAIX - Dividend Comparison

FIVLX's dividend yield for the trailing twelve months is around 2.10%, more than FXAIX's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIVLX Fidelity International Value Fund	2.10%	2.32%	2.90%	2.06%	1.85%	4.35%	1.74%	3.54%	3.33%	0.15%	2.71%	1.44%
FXAIX Fidelity 500 Index Fund	1.06%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FIVLX and FXAIX in my portfolio?

FIVLX and FXAIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVLX or FXAIX?

FIVLX has higher volatility (4.39%) compared to FXAIX (3.52%). In terms of maximum drawdown, FIVLX dropped -65.21% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FIVLX currently has the higher Sharpe Ratio (1.77 vs 1.53), 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.