FQITX vs. IQLT

Last updated Jun 23, 2026

FQITX (Fidelity SAI International Quality Index Fund) and IQLT (iShares MSCI Intl Quality Factor ETF) are both Foreign Large Cap Equities funds. Over the past 5 years, FQITX returned 6.07%/yr vs 7.82%/yr for IQLT. With a 0.95 correlation, they move nearly in lockstep. FQITX charges 0.19%/yr vs 0.30%/yr for IQLT.

Performance

FQITX vs. IQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI International Quality Index Fund (FQITX) and iShares MSCI Intl Quality Factor ETF (IQLT). 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 IQLT's 10.21% return.

FQITX

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

IQLT

• 1D: 0.02%
• 1M: 1.46%
• YTD: 10.21%
• 6M: 10.35%
• 1Y: 20.82%
• 3Y*: 15.23%
• 5Y*: 7.82%
• 10Y*: 10.24%

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

FQITX vs. IQLT - 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%	29.60%
IQLT iShares MSCI Intl Quality Factor ETF	10.21%	25.42%	1.54%	18.73%	-15.22%	12.94%	31.64%

Correlation

The correlation between FQITX and IQLT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 12, 2020	0.95

The correlation between FQITX and IQLT has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

FQITX vs. IQLT — 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

IQLT

IQLT Risk / Return Rank: 42
IQLT Sharpe Ratio Rank: 41
IQLT Sortino Ratio Rank: 41
IQLT Omega Ratio Rank: 39
IQLT Calmar Ratio Rank: 42
IQLT Martin Ratio Rank: 47

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. IQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI International Quality Index Fund (FQITX) and iShares MSCI Intl Quality Factor ETF (IQLT). 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	IQLT	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.41	-0.48
Sortino ratio: Return per unit of downside risk	1.41	2.04	-0.63
Omega ratio: Gain probability vs. loss probability	1.17	1.25	-0.08
Calmar ratio: Return relative to maximum drawdown	1.20	2.01	-0.82
Martin ratio: Return relative to average drawdown	4.15	7.67	-3.51

FQITX vs. IQLT - Sharpe Ratio Comparison

The current FQITX Sharpe Ratio is 0.93, which is lower than the IQLT Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FQITX and IQLT, 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. IQLT - Drawdown Comparison

The maximum FQITX drawdown since its inception was -31.39%, roughly equal to the maximum IQLT drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for FQITX and IQLT.

Drawdown Indicators

	FQITX	IQLT	Difference
Max Drawdown Largest peak-to-trough decline	-31.39%	-32.21%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-10.38%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-15.68%	-13.18%	-2.50%
Max Drawdown (5Y) Largest decline over 5 years	-31.39%	-30.24%	-1.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.21%	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-6.80%	-6.20%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	2.72%	+1.00%

Volatility

FQITX vs. IQLT - Volatility Comparison

Fidelity SAI International Quality Index Fund (FQITX) has a higher volatility of 5.07% compared to iShares MSCI Intl Quality Factor ETF (IQLT) at 4.82%. This indicates that FQITX's price experiences larger fluctuations and is considered to be riskier than IQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FQITX	IQLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	4.82%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	12.64%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	14.90%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	16.53%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	16.94%	-0.48%

FQITX vs. IQLT - Expense Ratio Comparison

FQITX has a 0.19% expense ratio, which is lower than IQLT's 0.30% expense ratio.

Dividends

FQITX vs. IQLT - Dividend Comparison

FQITX's dividend yield for the trailing twelve months is around 1.86%, less than IQLT's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FQITX Fidelity SAI International Quality Index Fund	1.86%	2.04%	1.60%	2.54%	3.13%	11.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IQLT iShares MSCI Intl Quality Factor ETF	2.42%	2.33%	2.87%	2.27%	3.14%	2.24%	1.61%	2.28%	2.72%	2.36%	2.91%	2.78%

Frequently Asked Questions

Can I hold both FQITX and IQLT in my portfolio?

With a correlation of 0.96, FQITX and IQLT 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 IQLT?

FQITX has higher volatility (5.07%) compared to IQLT (4.82%). In terms of maximum drawdown, FQITX dropped -31.39% vs IQLT's -32.21%.

Which has better risk-adjusted returns?

IQLT currently has the higher Sharpe Ratio (1.41 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.