FQITX vs. DFAI

Last updated Jun 23, 2026

FQITX (Fidelity SAI International Quality Index Fund) and DFAI (Dimensional International Core Equity Market ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, FQITX returned 6.07%/yr vs 10.16%/yr for DFAI. Their correlation of 0.92 suggests significant overlap in exposure. FQITX charges 0.19%/yr vs 0.18%/yr for DFAI.

Performance

FQITX vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International Quality Index Fund (FQITX) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FQITX achieves a 9.46% return, which is significantly lower than DFAI's 10.63% return.

FQITX

• 1D: 1.05%
• 1M: 4.13%
• YTD: 9.46%
• 6M: 10.09%
• 1Y: 16.95%
• 3Y*: 10.19%
• 5Y*: 6.07%
• 10Y*: —

DFAI

• 1D: 0.24%
• 1M: 1.23%
• YTD: 10.63%
• 6M: 10.81%
• 1Y: 27.64%
• 3Y*: 18.90%
• 5Y*: 10.16%
• 10Y*: —

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

FQITX vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FQITX Fidelity SAI International Quality Index Fund	9.46%	17.04%	1.04%	18.44%	-17.12%	14.00%	5.80%
DFAI Dimensional International Core Equity Market ETF	10.63%	34.04%	4.68%	17.60%	-12.95%	13.86%	5.34%

Correlation

The correlation between FQITX and DFAI is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.92

The correlation between FQITX and DFAI has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

FQITX vs. DFAI — Risk / Return Rank

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

FQITX

FQITX Risk / Return Rank: 14
FQITX Sharpe Ratio Rank: 13
FQITX Sortino Ratio Rank: 13
FQITX Omega Ratio Rank: 12
FQITX Calmar Ratio Rank: 14
FQITX Martin Ratio Rank: 17

DFAI

DFAI Risk / Return Rank: 57
DFAI Sharpe Ratio Rank: 59
DFAI Sortino Ratio Rank: 58
DFAI Omega Ratio Rank: 58
DFAI Calmar Ratio Rank: 53
DFAI Martin Ratio Rank: 58

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.

FQITX vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Quality Index Fund (FQITX) and Dimensional International Core Equity Market ETF (DFAI). 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.

	FQITX	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.92	-0.99
Sortino ratio: Return per unit of downside risk	1.41	2.68	-1.27
Omega ratio: Gain probability vs. loss probability	1.17	1.35	-0.18
Calmar ratio: Return relative to maximum drawdown	1.20	2.54	-1.34
Martin ratio: Return relative to average drawdown	4.15	9.89	-5.73

FQITX vs. DFAI - Sharpe Ratio Comparison

The current FQITX Sharpe Ratio is 0.93, which is lower than the DFAI Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FQITX and DFAI, 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

FQITX vs. DFAI - Drawdown Comparison

The maximum FQITX drawdown since its inception was -31.39%, which is greater than DFAI's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for FQITX and DFAI.

Drawdown Indicators

	FQITX	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-31.39%	-27.44%	-3.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-10.95%	-1.94%
Max Drawdown (3Y) Largest decline over 3 years	-15.68%	-13.25%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-31.39%	-27.44%	-3.95%
Current Drawdown Current decline from peak	0.00%	-0.28%	+0.28%
Average Drawdown Average peak-to-trough decline	-6.80%	-5.09%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	2.80%	+0.92%

Volatility

FQITX vs. DFAI - Volatility Comparison

Fidelity SAI International Quality Index Fund (FQITX) has a higher volatility of 5.07% compared to Dimensional International Core Equity Market ETF (DFAI) at 4.53%. This indicates that FQITX's price experiences larger fluctuations and is considered to be riskier than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FQITX	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	4.53%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	12.26%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	14.51%	+2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	15.98%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	15.72%	+0.74%

FQITX vs. DFAI - Expense Ratio Comparison

FQITX has a 0.19% expense ratio, which is higher than DFAI's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FQITX vs. DFAI - Dividend Comparison

FQITX's dividend yield for the trailing twelve months is around 1.86%, less than DFAI's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.23%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
FQITX Fidelity SAI International Quality Index Fund	1.86%	2.04%	1.60%	2.54%	3.13%	11.07%	0.00%

Frequently Asked Questions

Can I hold both FQITX and DFAI in my portfolio?

With a correlation of 0.91, FQITX and DFAI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FQITX or DFAI?

FQITX has higher volatility (5.07%) compared to DFAI (4.53%). In terms of maximum drawdown, FQITX dropped -31.39% vs DFAI's -27.44%.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.92 vs 0.93), 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.