FMIFX vs. STEZX
FMIFX (FMI International Fund II - Currency Unhedged Institutional Class) and STEZX (AB International Strategic Equities Portfolio) are both Foreign Large Cap Equities funds. Over the past 5 years, FMIFX returned 5.41%/yr vs 12.27%/yr for STEZX. Their correlation of 0.83 means they have usually moved in the same direction. FMIFX charges 0.90%/yr vs 0.71%/yr for STEZX.
Performance
FMIFX vs. STEZX - Performance Comparison
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Returns By Period
In the year-to-date period, FMIFX achieves a 9.79% return, which is significantly lower than STEZX's 16.79% return.
FMIFX
- 1D
- 1.60%
- 1M
- 4.78%
- 6M
- 5.45%
- YTD
- 9.79%
- 1Y
- 14.40%
- 3Y*
- 9.42%
- 5Y*
- 5.41%
- 10Y*
- —
- ALL TIME*
- 5.92%
STEZX
- 1D
- 3.57%
- 1M
- -1.41%
- 6M
- 8.02%
- YTD
- 16.79%
- 1Y
- 35.69%
- 3Y*
- 24.09%
- 5Y*
- 12.27%
- 10Y*
- 10.40%
- ALL TIME*
- 10.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMIFX vs. STEZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FMIFX FMI International Fund II - Currency Unhedged Institutional Class | 9.79% | 13.92% | 2.22% | 21.74% | -17.35% | 9.20% | 3.94% | 0.00% |
STEZX AB International Strategic Equities Portfolio | 16.79% | 43.11% | 12.75% | 13.56% | -17.62% | 10.32% | 4.38% | 0.24% |
Correlation
The correlation between FMIFX and STEZX is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.83 |
The correlation between FMIFX and STEZX shifts across timeframes, from 0.67 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FMIFX vs. STEZX — Risk / Return Rank
FMIFX
STEZX
FMIFX vs. STEZX - 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 AB International Strategic Equities Portfolio (STEZX). 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.
| FMIFX | STEZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.34 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 2.87 | -2.03 |
| Martin ratioReturn relative to average drawdown | 2.55 | 10.49 | -7.94 |
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Drawdowns
FMIFX vs. STEZX - Drawdown Comparison
The maximum FMIFX drawdown since its inception was -39.39%, which is greater than STEZX's maximum drawdown of -36.51%. Use the drawdown chart below to compare losses from any high point for FMIFX and STEZX.
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Drawdown Indicators
| FMIFX | STEZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.39% | -36.51% | -2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -15.17% | -12.02% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -17.54% | -14.01% | -3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -33.01% | -29.85% | -3.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.51% | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.32% | +5.32% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -7.26% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 3.28% | +1.71% |
Volatility
FMIFX vs. STEZX - Volatility Comparison
The current volatility for FMI International Fund II - Currency Unhedged Institutional Class (FMIFX) is 4.68%, while AB International Strategic Equities Portfolio (STEZX) has a volatility of 7.32%. This indicates that FMIFX experiences smaller price fluctuations and is considered to be less risky than STEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMIFX | STEZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 7.32% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 13.57% | 17.27% | -3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 19.28% | -2.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 16.93% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.63% | 16.33% | +2.30% |
FMIFX vs. STEZX - Expense Ratio Comparison
FMIFX has a 0.90% expense ratio, which is higher than STEZX's 0.71% expense ratio.
Dividends
FMIFX vs. STEZX - Dividend Comparison
FMIFX's dividend yield for the trailing twelve months is around 5.51%, less than STEZX's 10.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FMIFX FMI International Fund II - Currency Unhedged Institutional Class | 5.51% | 6.05% | 2.30% | 1.51% | 1.41% | 4.41% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% |
STEZX AB International Strategic Equities Portfolio | 10.75% | 12.56% | 2.45% | 3.08% | 4.12% | 5.96% | 1.29% | 2.05% | 3.23% | 2.92% | 1.72% |
Frequently Asked Questions
FMIFX and STEZX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STEZX has higher volatility (7.32%) compared to FMIFX (4.68%). In terms of maximum drawdown, FMIFX dropped -39.39% vs STEZX's -36.51%.
STEZX currently has the higher Sharpe Ratio (1.79 vs 0.78), 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.
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