FPXS.L vs. FSMP.L

Last updated Jun 5, 2026

FPXS.L (Fidelity Sustainable Research Enhanced Pacific ex-Japan Equity UCITS ETF Acc) and FSMP.L (Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged)) are both exchange-traded funds - FPXS.L is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while FSMP.L is a Global Corporate Bonds fund tracking the Bloomberg Gbl Agg Corp TR Hdg GBP. Both are passively managed. Over the past 5 years, FPXS.L returned 5.50%/yr vs 0.41%/yr for FSMP.L. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.

Performance

FPXS.L vs. FSMP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Sustainable Research Enhanced Pacific ex-Japan Equity UCITS ETF Acc (FPXS.L) and Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPXS.L achieves a 6.75% return, which is significantly higher than FSMP.L's 0.41% return.

FPXS.L

• 1D: -0.90%
• 1M: 0.81%
• YTD: 6.75%
• 6M: 7.69%
• 1Y: 15.31%
• 3Y*: 9.24%
• 5Y*: 5.50%
• 10Y*: —

FSMP.L

• 1D: 0.17%
• 1M: 0.83%
• YTD: 0.41%
• 6M: 0.66%
• 1Y: 4.52%
• 3Y*: 5.19%
• 5Y*: 0.41%
• 10Y*: —

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

FPXS.L vs. FSMP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FPXS.L Fidelity Sustainable Research Enhanced Pacific ex-Japan Equity UCITS ETF Acc	6.75%	11.73%	5.79%	0.21%	5.01%	2.36%
FSMP.L Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged)	0.41%	6.37%	2.95%	8.01%	-15.03%	3.48%

Correlation

The correlation between FPXS.L and FSMP.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021	0.17

The correlation between FPXS.L and FSMP.L shifts across timeframes, from 0.17 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FPXS.L vs. FSMP.L — Risk / Return Rank

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

FPXS.L

FPXS.L Risk / Return Rank: 37
FPXS.L Sharpe Ratio Rank: 36
FPXS.L Sortino Ratio Rank: 37
FPXS.L Omega Ratio Rank: 35
FPXS.L Calmar Ratio Rank: 39
FPXS.L Martin Ratio Rank: 36

FSMP.L

FSMP.L Risk / Return Rank: 34
FSMP.L Sharpe Ratio Rank: 34
FSMP.L Sortino Ratio Rank: 34
FSMP.L Omega Ratio Rank: 31
FSMP.L Calmar Ratio Rank: 34
FSMP.L Martin Ratio Rank: 35

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.

FPXS.L vs. FSMP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Research Enhanced Pacific ex-Japan Equity UCITS ETF Acc (FPXS.L) and Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L). 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.

	FPXS.L	FSMP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.18	+0.10
Sortino ratio: Return per unit of downside risk	1.88	1.76	+0.12
Omega ratio: Gain probability vs. loss probability	1.23	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	1.88	1.64	+0.25
Martin ratio: Return relative to average drawdown	5.41	5.28	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPXS.L vs. FSMP.L - Sharpe Ratio Comparison

The current FPXS.L Sharpe Ratio is 1.28, which is comparable to the FSMP.L Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of FPXS.L and FSMP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FPXS.L	FSMP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.18	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.07	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.14	+0.33

Drawdowns

FPXS.L vs. FSMP.L - Drawdown Comparison

The maximum FPXS.L drawdown since its inception was -18.15%, smaller than the maximum FSMP.L drawdown of -20.12%. Use the drawdown chart below to compare losses from any high point for FPXS.L and FSMP.L.

Drawdown Indicators

	FPXS.L	FSMP.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-20.12%	+1.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-2.75%	-5.36%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-4.39%	-13.76%
Max Drawdown (5Y) Largest decline over 5 years	-18.15%	-20.12%	+1.97%
Current Drawdown Current decline from peak	-3.48%	-0.63%	-2.85%
Average Drawdown Average peak-to-trough decline	-5.10%	-7.68%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	0.85%	+1.98%

Volatility

FPXS.L vs. FSMP.L - Volatility Comparison

Fidelity Sustainable Research Enhanced Pacific ex-Japan Equity UCITS ETF Acc (FPXS.L) has a higher volatility of 3.82% compared to Fidelity Sustainable Global Corporate Bond Paris-Aligned Multifactor UCITS ETF ACC-GBP (hedged) (FSMP.L) at 1.56%. This indicates that FPXS.L's price experiences larger fluctuations and is considered to be riskier than FSMP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXS.L	FSMP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	1.56%	+2.26%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	3.03%	+6.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	3.83%	+8.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.19%	5.91%	+8.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.04%	5.91%	+8.13%

FPXS.L vs. FSMP.L - Expense Ratio Comparison

Both FPXS.L and FSMP.L have an expense ratio of 0.30%.

Dividends

FPXS.L vs. FSMP.L - Dividend Comparison

Neither FPXS.L nor FSMP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FPXS.L and FSMP.L in my portfolio?

FPXS.L and FSMP.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FPXS.L or FSMP.L?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FPXS.L or FSMP.L?

FPXS.L and FSMP.L have the same expense ratio: 0.30% per year.

What is the main difference between FPXS.L and FSMP.L?

FPXS.L is categorized as Asia Pacific Equities, while FSMP.L is Global Corporate Bonds. FPXS.L tracks MSCI Pacific Ex Japan NR USD, while FSMP.L tracks Bloomberg Gbl Agg Corp TR Hdg GBP.