FIXIX vs. IEFA

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor International Small Cap Fund Class I (FIXIX) and iShares Core MSCI EAFE ETF (IEFA).

FIXIX is managed by Fidelity. It was launched on May 27, 2003. IEFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE Investable Market Index. It was launched on Oct 18, 2012.

Performance

FIXIX vs. IEFA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class I (FIXIX) and iShares Core MSCI EAFE ETF (IEFA). The values are adjusted to include any dividend payments, if applicable.

FIXIX vs. IEFA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIXIX Fidelity Advisor International Small Cap Fund Class I	-2.51%	24.65%	0.02%	19.63%	-16.66%	13.44%	9.97%	21.45%	-16.09%	31.49%
IEFA iShares Core MSCI EAFE ETF	1.20%	32.08%	3.26%	17.95%	-15.24%	11.63%	8.18%	22.64%	-14.14%	26.57%

Returns By Period

In the year-to-date period, FIXIX achieves a -2.51% return, which is significantly lower than IEFA's 1.20% return. Over the past 10 years, FIXIX has underperformed IEFA with an annualized return of 8.01%, while IEFA has yielded a comparatively higher 8.86% annualized return.

FIXIX

• 1D: -0.30%
• 1M: -10.41%
• YTD: -2.51%
• 6M: -0.82%
• 1Y: 15.85%
• 3Y*: 10.25%
• 5Y*: 5.07%
• 10Y*: 8.01%

IEFA

• 1D: 3.24%
• 1M: -7.92%
• YTD: 1.20%
• 6M: 5.69%
• 1Y: 24.17%
• 3Y*: 14.50%
• 5Y*: 7.80%
• 10Y*: 8.86%

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

FIXIX vs. IEFA - Expense Ratio Comparison

FIXIX has a 1.02% expense ratio, which is higher than IEFA's 0.07% expense ratio.

FIXIX

Fidelity Advisor International Small Cap Fund Class I

IEFA

iShares Core MSCI EAFE ETF

Return for Risk

FIXIX vs. IEFA — Risk / Return Rank

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

FIXIX

FIXIX Risk / Return Rank: 55
FIXIX Sharpe Ratio Rank: 62
FIXIX Sortino Ratio Rank: 55
FIXIX Omega Ratio Rank: 58
FIXIX Calmar Ratio Rank: 53
FIXIX Martin Ratio Rank: 46

IEFA

IEFA Risk / Return Rank: 79
IEFA Sharpe Ratio Rank: 78
IEFA Sortino Ratio Rank: 80
IEFA Omega Ratio Rank: 79
IEFA Calmar Ratio Rank: 79
IEFA Martin Ratio Rank: 78

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.

FIXIX vs. IEFA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class I (FIXIX) and iShares Core MSCI EAFE ETF (IEFA). 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.

	FIXIX	IEFA	Difference
Sharpe ratio Return per unit of total volatility	1.10	1.38	-0.28
Sortino ratio Return per unit of downside risk	1.46	1.97	-0.50
Omega ratio Gain probability vs. loss probability	1.22	1.29	-0.06
Calmar ratio Return relative to maximum drawdown	1.26	2.00	-0.73
Martin ratio Return relative to average drawdown	4.62	7.79	-3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIXIX vs. IEFA - Sharpe Ratio Comparison

The current FIXIX Sharpe Ratio is 1.10, which is comparable to the IEFA Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of FIXIX and IEFA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FIXIX	IEFA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	1.38	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.48	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.52	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.48	+0.23

Correlation

The correlation between FIXIX and IEFA is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FIXIX vs. IEFA - Dividend Comparison

FIXIX's dividend yield for the trailing twelve months is around 3.63%, more than IEFA's 3.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXIX Fidelity Advisor International Small Cap Fund Class I	3.63%	3.54%	2.59%	1.88%	0.68%	7.25%	0.81%	2.32%	6.13%	2.45%	2.81%	2.78%
IEFA iShares Core MSCI EAFE ETF	3.51%	3.55%	3.47%	3.20%	2.70%	3.32%	1.90%	3.18%	3.46%	2.57%	2.96%	2.63%

Drawdowns

FIXIX vs. IEFA - Drawdown Comparison

The maximum FIXIX drawdown since its inception was -60.85%, which is greater than IEFA's maximum drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for FIXIX and IEFA.

Drawdown Indicators

	FIXIX	IEFA	Difference
Max Drawdown Largest peak-to-trough decline	-60.85%	-34.78%	-26.07%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-11.50%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-31.05%	-30.41%	-0.64%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	-34.78%	-4.04%
Current Drawdown Current decline from peak	-10.41%	-8.15%	-2.26%
Average Drawdown Average peak-to-trough decline	-10.63%	-6.74%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	2.95%	-0.01%

Volatility

FIXIX vs. IEFA - Volatility Comparison

The current volatility for Fidelity Advisor International Small Cap Fund Class I (FIXIX) is 5.71%, while iShares Core MSCI EAFE ETF (IEFA) has a volatility of 7.89%. This indicates that FIXIX experiences smaller price fluctuations and is considered to be less risky than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXIX	IEFA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	7.89%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	8.69%	11.05%	-2.36%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	17.64%	-4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	16.35%	-3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.93%	17.24%	-3.31%