FPBFX vs. SWPPX

Last updated Jun 24, 2026

FPBFX (Fidelity Pacific Basin Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - FPBFX is a Asia Pacific Equities fund managed by Fidelity, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, FPBFX returned 13.80%/yr vs 15.77%/yr for SWPPX. A 0.53 correlation means they provide meaningful diversification when combined. FPBFX charges 1.04%/yr vs 0.02%/yr for SWPPX.

Performance

FPBFX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Pacific Basin Fund (FPBFX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPBFX achieves a 33.61% return, which is significantly higher than SWPPX's 9.75% return. Over the past 10 years, FPBFX has underperformed SWPPX with an annualized return of 13.80%, while SWPPX has yielded a comparatively higher 15.77% annualized return.

FPBFX

• 1D: 0.14%
• 1M: 7.90%
• YTD: 33.61%
• 6M: 33.57%
• 1Y: 60.74%
• 3Y*: 28.06%
• 5Y*: 11.36%
• 10Y*: 13.80%

SWPPX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.75%
• 6M: 8.76%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

FPBFX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPBFX Fidelity Pacific Basin Fund	33.61%	37.15%	9.26%	14.07%	-23.71%	2.28%	32.92%	32.21%	-18.08%	40.06%
SWPPX Schwab S&P 500 Index Fund	9.75%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between FPBFX and SWPPX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 20, 1997	0.53

Over the past year, FPBFX and SWPPX have become more correlated (0.78) than their long-term average of 0.53, meaning their price movements have been converging.

Return for Risk

FPBFX vs. SWPPX — Risk / Return Rank

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

FPBFX

FPBFX Risk / Return Rank: 89
FPBFX Sharpe Ratio Rank: 92
FPBFX Sortino Ratio Rank: 82
FPBFX Omega Ratio Rank: 83
FPBFX Calmar Ratio Rank: 94
FPBFX Martin Ratio Rank: 93

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 56
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 68
SWPPX 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.

FPBFX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Pacific Basin Fund (FPBFX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	FPBFX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.14	+0.74
Sortino ratio: Return per unit of downside risk	3.58	2.89	+0.69
Omega ratio: Gain probability vs. loss probability	1.51	1.39	+0.12
Calmar ratio: Return relative to maximum drawdown	5.05	3.02	+2.04
Martin ratio: Return relative to average drawdown	18.65	13.59	+5.06

FPBFX vs. SWPPX - Sharpe Ratio Comparison

The current FPBFX Sharpe Ratio is 2.88, which is higher than the SWPPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of FPBFX and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FPBFX vs. SWPPX - Drawdown Comparison

The maximum FPBFX drawdown since its inception was -69.06%, which is greater than SWPPX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for FPBFX and SWPPX.

Drawdown Indicators

	FPBFX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-69.06%	-55.06%	-14.00%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-8.89%	-3.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.48%	-18.74%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-37.97%	-24.51%	-13.46%
Max Drawdown (10Y) Largest decline over 10 years	-39.85%	-33.80%	-6.05%
Current Drawdown Current decline from peak	0.00%	-1.74%	+1.74%
Average Drawdown Average peak-to-trough decline	-17.56%	-9.93%	-7.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	1.97%	+1.34%

Volatility

FPBFX vs. SWPPX - Volatility Comparison

Fidelity Pacific Basin Fund (FPBFX) has a higher volatility of 9.69% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.73%. This indicates that FPBFX's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPBFX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	4.73%	+4.96%
Volatility (6M) Calculated over the trailing 6-month period	18.00%	9.87%	+8.13%
Volatility (1Y) Calculated over the trailing 1-year period	21.55%	12.53%	+9.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	17.02%	+2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	18.27%	-0.39%

FPBFX vs. SWPPX - Expense Ratio Comparison

FPBFX has a 1.04% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

FPBFX vs. SWPPX - Dividend Comparison

FPBFX's dividend yield for the trailing twelve months is around 6.13%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPBFX Fidelity Pacific Basin Fund	6.13%	8.19%	5.99%	5.36%	8.76%	14.97%	4.45%	0.75%	10.88%	4.36%	2.38%	3.61%
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both FPBFX and SWPPX in my portfolio?

FPBFX and SWPPX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPBFX or SWPPX?

FPBFX has higher volatility (9.69%) compared to SWPPX (4.73%). In terms of maximum drawdown, FPBFX dropped -69.06% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

FPBFX currently has the higher Sharpe Ratio (2.88 vs 2.14), 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.