FMIFX vs. FSPSX
Compare and contrast key facts about FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) and Fidelity International Index Fund (FSPSX).
FMIFX is managed by Fidelity. It was launched on Dec 31, 2019. FSPSX is a passively managed fund by Fidelity that tracks the performance of the MSCI ACWI ex USA IMI Index. It was launched on Nov 5, 1997.
Performance
FMIFX vs. FSPSX - Performance Comparison
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FMIFX vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FMIFX FMI International Fund II - Currency Unhedged Institutional Class | -7.75% | 13.92% | 2.22% | 21.74% | -17.35% | 9.20% | 3.94% |
FSPSX Fidelity International Index Fund | -1.94% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% |
Returns By Period
In the year-to-date period, FMIFX achieves a -7.75% return, which is significantly lower than FSPSX's -1.94% return.
FMIFX
- 1D
- 0.10%
- 1M
- -13.11%
- YTD
- -7.75%
- 6M
- -6.84%
- 1Y
- 4.00%
- 3Y*
- 5.78%
- 5Y*
- 2.38%
- 10Y*
- —
FSPSX
- 1D
- 0.42%
- 1M
- -10.86%
- YTD
- -1.94%
- 6M
- 2.58%
- 1Y
- 19.89%
- 3Y*
- 13.50%
- 5Y*
- 7.96%
- 10Y*
- 8.65%
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FMIFX vs. FSPSX - Expense Ratio Comparison
FMIFX has a 0.90% expense ratio, which is higher than FSPSX's 0.04% expense ratio.
Return for Risk
FMIFX vs. FSPSX — Risk / Return Rank
FMIFX
FSPSX
FMIFX vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) and Fidelity International Index Fund (FSPSX). 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.
| FMIFX | FSPSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.17 | 1.11 | -0.95 |
Sortino ratioReturn per unit of downside risk | 0.37 | 1.56 | -1.19 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.23 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 0.14 | 1.54 | -1.40 |
Martin ratioReturn relative to average drawdown | 0.56 | 5.93 | -5.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMIFX | FSPSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 1.11 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.51 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.46 | -0.28 |
Correlation
The correlation between FMIFX and FSPSX is 0.90, 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
FMIFX vs. FSPSX - Dividend Comparison
FMIFX's dividend yield for the trailing twelve months is around 6.56%, more than FSPSX's 3.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMIFX FMI International Fund II - Currency Unhedged Institutional Class | 6.56% | 6.05% | 2.30% | 1.51% | 1.41% | 4.41% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FSPSX Fidelity International Index Fund | 3.22% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Drawdowns
FMIFX vs. FSPSX - Drawdown Comparison
The maximum FMIFX drawdown since its inception was -39.39%, which is greater than FSPSX's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FMIFX and FSPSX.
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Drawdown Indicators
| FMIFX | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.39% | -33.69% | -5.70% |
Max Drawdown (1Y)Largest decline over 1 year | -15.17% | -11.39% | -3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -33.90% | -29.41% | -4.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.69% | — |
Current DrawdownCurrent decline from peak | -13.97% | -10.86% | -3.11% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -6.59% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 2.96% | +0.90% |
Volatility
FMIFX vs. FSPSX - Volatility Comparison
The current volatility for FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) is 6.64%, while Fidelity International Index Fund (FSPSX) has a volatility of 7.04%. This indicates that FMIFX experiences smaller price fluctuations and is considered to be less risky than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMIFX | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 7.04% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 10.97% | 10.63% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.65% | 16.79% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 15.77% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.63% | 16.47% | +2.16% |