FNSTX vs. ACWI
FNSTX (Fidelity Infrastructure Fund) and ACWI (iShares MSCI ACWI ETF) are both funds - FNSTX is a Large Cap Blend Equities fund managed by Fidelity, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Over the past 5 years, FNSTX returned 10.72%/yr vs 11.28%/yr for ACWI. A 0.74 correlation means they provide meaningful diversification when combined. FNSTX charges 1.00%/yr vs 0.32%/yr for ACWI.
Performance
FNSTX vs. ACWI - Performance Comparison
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Returns By Period
In the year-to-date period, FNSTX achieves a 10.08% return, which is significantly lower than ACWI's 12.13% return.
FNSTX
- 1D
- 1.93%
- 1M
- -2.07%
- YTD
- 10.08%
- 6M
- 9.33%
- 1Y
- 26.54%
- 3Y*
- 18.80%
- 5Y*
- 10.72%
- 10Y*
- —
ACWI
- 1D
- -0.83%
- 1M
- 5.28%
- YTD
- 12.13%
- 6M
- 12.96%
- 1Y
- 29.18%
- 3Y*
- 21.15%
- 5Y*
- 11.28%
- 10Y*
- 12.85%
FNSTX vs. ACWI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FNSTX Fidelity Infrastructure Fund | 10.08% | 27.42% | 14.43% | 8.44% | -7.59% | 7.58% | 12.80% | 5.49% |
ACWI iShares MSCI ACWI ETF | 12.13% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 4.32% |
Correlation
The correlation between FNSTX and ACWI is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2019 | 0.74 |
The correlation between FNSTX and ACWI has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.
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Return for Risk
FNSTX vs. ACWI — Risk / Return Rank
FNSTX
ACWI
FNSTX vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Infrastructure Fund (FNSTX) and iShares MSCI ACWI ETF (ACWI). 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.
| FNSTX | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.41 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 3.01 | +0.24 |
| Martin ratioReturn relative to average drawdown | 11.01 | 13.53 | -2.52 |
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
| FNSTX | ACWI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.29 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.71 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.43 | +0.20 |
Drawdowns
FNSTX vs. ACWI - Drawdown Comparison
The maximum FNSTX drawdown since its inception was -35.82%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for FNSTX and ACWI.
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Drawdown Indicators
| FNSTX | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.82% | -56.00% | +20.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -9.73% | +1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -13.63% | -16.55% | +2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | -26.42% | +4.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -2.84% | -0.83% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -5.17% | -8.61% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 2.16% | +0.33% |
Volatility
FNSTX vs. ACWI - Volatility Comparison
Fidelity Infrastructure Fund (FNSTX) has a higher volatility of 5.45% compared to iShares MSCI ACWI ETF (ACWI) at 3.93%. This indicates that FNSTX's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNSTX | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 3.93% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 10.29% | +2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.51% | 12.78% | +2.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.15% | 16.05% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.77% | 17.11% | +1.66% |
FNSTX vs. ACWI - Expense Ratio Comparison
FNSTX has a 1.00% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
FNSTX vs. ACWI - Dividend Comparison
FNSTX's dividend yield for the trailing twelve months is around 3.80%, more than ACWI's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.38% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
FNSTX Fidelity Infrastructure Fund | 3.80% | 4.16% | 1.59% | 1.85% | 1.35% | 0.63% | 0.80% | 0.36% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNSTX and ACWI 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.
FNSTX has higher volatility (5.45%) compared to ACWI (3.93%). In terms of maximum drawdown, FNSTX dropped -35.82% vs ACWI's -56.00%.
ACWI currently has the higher Sharpe Ratio (2.29 vs 1.77), 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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