FPBFX vs. VPL

Last updated Jun 23, 2026

FPBFX (Fidelity Pacific Basin Fund) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds. Over the past 10 years, FPBFX returned 13.58%/yr vs 11.43%/yr for VPL. Their correlation of 0.84 suggests significant overlap in exposure. FPBFX charges 1.04%/yr vs 0.08%/yr for VPL.

Performance

FPBFX vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Pacific Basin Fund (FPBFX) and Vanguard FTSE Pacific ETF (VPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FPBFX having a 33.43% return and VPL slightly higher at 33.55%. Over the past 10 years, FPBFX has outperformed VPL with an annualized return of 13.58%, while VPL has yielded a comparatively lower 11.43% annualized return.

FPBFX

• 1D: 2.19%
• 1M: 7.75%
• YTD: 33.43%
• 6M: 34.61%
• 1Y: 61.36%
• 3Y*: 25.97%
• 5Y*: 11.45%
• 10Y*: 13.58%

VPL

• 1D: 0.32%
• 1M: 7.88%
• YTD: 33.55%
• 6M: 35.00%
• 1Y: 58.07%
• 3Y*: 24.51%
• 5Y*: 11.40%
• 10Y*: 11.43%

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

FPBFX vs. VPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPBFX Fidelity Pacific Basin Fund	33.43%	37.15%	9.26%	14.07%	-23.71%	2.28%	32.92%	32.21%	-18.08%	40.06%
VPL Vanguard FTSE Pacific ETF	33.55%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%

Correlation

The correlation between FPBFX and VPL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 10, 2005	0.84

The correlation between FPBFX and VPL has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

Return for Risk

FPBFX vs. VPL — Risk / Return Rank

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

FPBFX

FPBFX Risk / Return Rank: 87
FPBFX Sharpe Ratio Rank: 90
FPBFX Sortino Ratio Rank: 80
FPBFX Omega Ratio Rank: 81
FPBFX Calmar Ratio Rank: 93
FPBFX Martin Ratio Rank: 93

VPL

VPL Risk / Return Rank: 84
VPL Sharpe Ratio Rank: 87
VPL Sortino Ratio Rank: 81
VPL Omega Ratio Rank: 85
VPL Calmar Ratio Rank: 84
VPL Martin Ratio Rank: 84

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. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Pacific Basin Fund (FPBFX) and Vanguard FTSE Pacific ETF (VPL). 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	VPL	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.73	+0.04
Sortino ratio: Return per unit of downside risk	3.47	3.46	+0.01
Omega ratio: Gain probability vs. loss probability	1.49	1.50	-0.01
Calmar ratio: Return relative to maximum drawdown	4.87	4.38	+0.49
Martin ratio: Return relative to average drawdown	17.98	16.73	+1.25

FPBFX vs. VPL - Sharpe Ratio Comparison

The current FPBFX Sharpe Ratio is 2.77, which is comparable to the VPL Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of FPBFX and VPL, 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. VPL - Drawdown Comparison

The maximum FPBFX drawdown since its inception was -69.06%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for FPBFX and VPL.

Drawdown Indicators

	FPBFX	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-69.06%	-55.49%	-13.57%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-13.33%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.48%	-16.35%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-37.97%	-31.09%	-6.88%
Max Drawdown (10Y) Largest decline over 10 years	-39.85%	-33.90%	-5.95%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-17.56%	-11.61%	-5.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.48%	-0.17%

Volatility

FPBFX vs. VPL - Volatility Comparison

Fidelity Pacific Basin Fund (FPBFX) and Vanguard FTSE Pacific ETF (VPL) have volatilities of 9.74% and 10.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPBFX	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.74%	10.07%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	18.08%	18.94%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	21.45%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	17.74%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	17.49%	+0.39%

FPBFX vs. VPL - Expense Ratio Comparison

FPBFX has a 1.04% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

FPBFX vs. VPL - Dividend Comparison

FPBFX's dividend yield for the trailing twelve months is around 6.14%, more than VPL's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPBFX Fidelity Pacific Basin Fund	6.14%	8.19%	5.99%	5.36%	8.76%	14.97%	4.45%	0.75%	10.88%	4.36%	2.38%	3.61%
VPL Vanguard FTSE Pacific ETF	2.51%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both FPBFX and VPL in my portfolio?

FPBFX and VPL have a correlation of 0.86, 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 VPL?

VPL has higher volatility (10.07%) compared to FPBFX (9.74%). In terms of maximum drawdown, FPBFX dropped -69.06% vs VPL's -55.49%.

Which has better risk-adjusted returns?

FPBFX currently has the higher Sharpe Ratio (2.77 vs 2.73), 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.