FNGZX vs. FHLFX
FNGZX (Franklin International Growth Fund) and FHLFX (Fidelity Series International Index Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, FNGZX returned -4.10%/yr vs 9.45%/yr for FHLFX. Their correlation of 0.84 means they have usually moved in the same direction. FNGZX charges 0.86%/yr vs 0.01%/yr for FHLFX.
Performance
FNGZX vs. FHLFX - Performance Comparison
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Returns By Period
In the year-to-date period, FNGZX achieves a -2.00% return, which is significantly lower than FHLFX's 11.78% return.
FNGZX
- 1D
- -1.04%
- 1M
- -2.62%
- 6M
- -3.93%
- YTD
- -2.00%
- 1Y
- -2.49%
- 3Y*
- 3.32%
- 5Y*
- -4.10%
- 10Y*
- 6.09%
- ALL TIME*
- 4.16%
FHLFX
- 1D
- -0.71%
- 1M
- 1.26%
- 6M
- 5.76%
- YTD
- 11.78%
- 1Y
- 25.30%
- 3Y*
- 16.61%
- 5Y*
- 9.45%
- 10Y*
- —
- ALL TIME*
- 9.34%
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 |
FNGZX vs. FHLFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGZX Franklin International Growth Fund | -2.00% | 10.54% | 0.66% | 15.24% | -31.87% | 0.45% | 32.90% | 37.18% | -19.79% |
FHLFX Fidelity Series International Index Fund | 11.78% | 31.96% | 3.67% | 18.16% | -14.17% | 11.23% | 8.09% | 21.66% | -10.70% |
Correlation
The correlation between FNGZX and FHLFX is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018 | 0.84 |
The correlation between FNGZX and FHLFX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.
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Return for Risk
FNGZX vs. FHLFX — Risk / Return Rank
FNGZX
FHLFX
FNGZX vs. FHLFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin International Growth Fund (FNGZX) and Fidelity Series International Index Fund (FHLFX). 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.
| FNGZX | FHLFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.46 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.30 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.23 | -2.42 |
| Martin ratioReturn relative to average drawdown | -0.49 | 8.46 | -8.96 |
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Drawdowns
FNGZX vs. FHLFX - Drawdown Comparison
The maximum FNGZX drawdown since its inception was -53.35%, which is greater than FHLFX's maximum drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for FNGZX and FHLFX.
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Drawdown Indicators
| FNGZX | FHLFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.35% | -33.58% | -19.77% |
Max Drawdown (1Y)Largest decline over 1 year | -17.29% | -11.37% | -5.92% |
Max Drawdown (3Y)Largest decline over 3 years | -20.18% | -13.62% | -6.56% |
Max Drawdown (5Y)Largest decline over 5 years | -47.63% | -29.36% | -18.27% |
Max Drawdown (10Y)Largest decline over 10 years | -47.63% | — | — |
Current DrawdownCurrent decline from peak | -22.67% | -0.71% | -21.96% |
Average DrawdownAverage peak-to-trough decline | -14.23% | -6.01% | -8.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.46% | 3.00% | +3.46% |
Volatility
FNGZX vs. FHLFX - Volatility Comparison
Franklin International Growth Fund (FNGZX) has a higher volatility of 4.89% compared to Fidelity Series International Index Fund (FHLFX) at 4.47%. This indicates that FNGZX's price experiences larger fluctuations and is considered to be riskier than FHLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGZX | FHLFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 4.47% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 14.80% | 13.25% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.19% | 15.52% | +2.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.49% | 16.11% | +5.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.10% | 17.62% | +2.48% |
FNGZX vs. FHLFX - Expense Ratio Comparison
FNGZX has a 0.86% expense ratio, which is higher than FHLFX's 0.01% expense ratio.
Dividends
FNGZX vs. FHLFX - Dividend Comparison
FNGZX's dividend yield for the trailing twelve months is around 3.44%, more than FHLFX's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHLFX Fidelity Series International Index Fund | 3.10% | 3.46% | 2.98% | 2.86% | 2.60% | 2.47% | 1.92% | 1.95% | 0.62% | 0.00% | 0.00% | 0.00% |
FNGZX Franklin International Growth Fund | 3.44% | 3.37% | 2.07% | 0.00% | 1.74% | 1.11% | 2.23% | 0.30% | 2.04% | 1.31% | 0.90% | 0.36% |
Frequently Asked Questions
FNGZX and FHLFX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGZX has higher volatility (4.89%) compared to FHLFX (4.47%). In terms of maximum drawdown, FNGZX dropped -53.35% vs FHLFX's -33.58%.
FHLFX currently has the higher Sharpe Ratio (1.64 vs -0.18), 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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