FIWCX vs. DFVIX

Last updated Jun 3, 2026

FIWCX (Fidelity SAI International Value Index Fund) and DFVIX (DFA International Value III Portfolio) are both Foreign Large Cap Equities funds. Over the past 5 years, FIWCX returned 13.03%/yr vs 15.10%/yr for DFVIX. With a 0.95 correlation, they move nearly in lockstep. FIWCX charges 0.17%/yr vs 0.24%/yr for DFVIX.

Performance

FIWCX vs. DFVIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FIWCX achieves a 13.82% return, which is significantly higher than DFVIX's 12.58% return.

FIWCX

• 1D: -0.49%
• 1M: 3.32%
• YTD: 13.82%
• 6M: 18.28%
• 1Y: 33.63%
• 3Y*: 23.60%
• 5Y*: 13.03%
• 10Y*: —

DFVIX

• 1D: -0.11%
• 1M: 1.89%
• YTD: 12.58%
• 6M: 16.78%
• 1Y: 35.82%
• 3Y*: 24.22%
• 5Y*: 15.10%
• 10Y*: 12.31%

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

FIWCX vs. DFVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIWCX Fidelity SAI International Value Index Fund	13.82%	43.38%	4.94%	18.99%	-5.96%	13.88%	-3.94%	17.30%	-16.13%	0.77%
DFVIX DFA International Value III Portfolio	12.58%	44.85%	6.86%	17.89%	-3.41%	23.59%	-1.96%	15.85%	-17.29%	1.46%

Correlation

The correlation between FIWCX and DFVIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.95

The correlation between FIWCX and DFVIX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FIWCX vs. DFVIX — Risk / Return Rank

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

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: 69
FIWCX Martin Ratio Rank: 63

DFVIX

DFVIX Risk / Return Rank: 81
DFVIX Sharpe Ratio Rank: 85
DFVIX Sortino Ratio Rank: 78
DFVIX Omega Ratio Rank: 76
DFVIX Calmar Ratio Rank: 83
DFVIX Martin Ratio Rank: 81

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.

FIWCX vs. DFVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Value Index Fund (FIWCX) and DFA International Value III Portfolio (DFVIX). 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.

	FIWCX	DFVIX	Difference
Sharpe ratio Return per unit of total volatility	2.40	2.76	-0.36
Sortino ratio Return per unit of downside risk	3.28	3.74	-0.45
Omega ratio Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio Return relative to maximum drawdown	3.22	3.89	-0.66
Martin ratio Return relative to average drawdown	12.52	15.37	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIWCX vs. DFVIX - Sharpe Ratio Comparison

The current FIWCX Sharpe Ratio is 2.40, which is comparable to the DFVIX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of FIWCX and DFVIX, 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

	FIWCX	DFVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.76	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.92	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.41	+0.09

Drawdowns

FIWCX vs. DFVIX - Drawdown Comparison

The maximum FIWCX drawdown since its inception was -42.73%, smaller than the maximum DFVIX drawdown of -66.53%. Use the drawdown chart below to compare losses from any high point for FIWCX and DFVIX.

Drawdown Indicators

	FIWCX	DFVIX	Difference
Max Drawdown Largest peak-to-trough decline	-42.73%	-66.53%	+23.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-9.53%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-14.83%	-14.68%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-28.49%	-25.26%	-3.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.89%	—
Current Drawdown Current decline from peak	-0.56%	-0.69%	+0.13%
Average Drawdown Average peak-to-trough decline	-9.09%	-12.27%	+3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.41%	+0.45%

Volatility

FIWCX vs. DFVIX - Volatility Comparison

Fidelity SAI International Value Index Fund (FIWCX) has a higher volatility of 4.36% compared to DFA International Value III Portfolio (DFVIX) at 3.88%. This indicates that FIWCX's price experiences larger fluctuations and is considered to be riskier than DFVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIWCX	DFVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	3.88%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	11.49%	10.85%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	14.68%	13.74%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	16.46%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	18.10%	+0.12%

FIWCX vs. DFVIX - Expense Ratio Comparison

FIWCX has a 0.17% expense ratio, which is lower than DFVIX's 0.24% 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

FIWCX vs. DFVIX - Dividend Comparison

FIWCX's dividend yield for the trailing twelve months is around 6.13%, more than DFVIX's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFVIX DFA International Value III Portfolio	3.90%	4.09%	4.16%	4.44%	3.82%	7.97%	2.25%	3.53%	6.16%	3.02%	3.43%	5.84%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIWCX and DFVIX in my portfolio?

With a correlation of 0.94, FIWCX and DFVIX 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, FIWCX or DFVIX?

FIWCX has higher volatility (4.36%) compared to DFVIX (3.88%). In terms of maximum drawdown, FIWCX dropped -42.73% vs DFVIX's -66.53%.

Which has better risk-adjusted returns?

DFVIX currently has the higher Sharpe Ratio (2.76 vs 2.40), 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.