FSGEX vs. AWPAX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series Global ex U.S. Index Fund (FSGEX) and AB Sustainable International Thematic Fund (AWPAX).

FSGEX is managed by Fidelity. It was launched on Sep 29, 2009. AWPAX is managed by AllianceBernstein. It was launched on Jun 1, 1994.

Performance

FSGEX vs. AWPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Global ex U.S. Index Fund (FSGEX) and AB Sustainable International Thematic Fund (AWPAX). The values are adjusted to include any dividend payments, if applicable.

FSGEX vs. AWPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSGEX Fidelity Series Global ex U.S. Index Fund	-1.20%	32.99%	5.34%	15.56%	-15.75%	7.77%	10.75%	21.41%	-13.99%	27.47%
AWPAX AB Sustainable International Thematic Fund	-8.31%	13.57%	-0.32%	13.09%	-26.80%	9.20%	29.55%	26.88%	-17.50%	34.46%

Returns By Period

In the year-to-date period, FSGEX achieves a -1.20% return, which is significantly higher than AWPAX's -8.31% return. Over the past 10 years, FSGEX has outperformed AWPAX with an annualized return of 8.55%, while AWPAX has yielded a comparatively lower 5.06% annualized return.

FSGEX

• 1D: -0.06%
• 1M: -11.07%
• YTD: -1.20%
• 6M: 3.57%
• 1Y: 23.80%
• 3Y*: 14.32%
• 5Y*: 6.98%
• 10Y*: 8.55%

AWPAX

• 1D: -0.10%
• 1M: -12.94%
• YTD: -8.31%
• 6M: -8.14%
• 1Y: 4.08%
• 3Y*: 3.06%
• 5Y*: -1.02%
• 10Y*: 5.06%

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

FSGEX vs. AWPAX - Expense Ratio Comparison

FSGEX has a 0.01% expense ratio, which is lower than AWPAX's 1.03% expense ratio.

AWPAX

AB Sustainable International Thematic Fund

FSGEX

Fidelity Series Global ex U.S. Index Fund

Return for Risk

FSGEX vs. AWPAX — Risk / Return Rank

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

FSGEX

FSGEX Risk / Return Rank: 78
FSGEX Sharpe Ratio Rank: 79
FSGEX Sortino Ratio Rank: 78
FSGEX Omega Ratio Rank: 76
FSGEX Calmar Ratio Rank: 80
FSGEX Martin Ratio Rank: 77

AWPAX

AWPAX Risk / Return Rank: 9
AWPAX Sharpe Ratio Rank: 9
AWPAX Sortino Ratio Rank: 9
AWPAX Omega Ratio Rank: 9
AWPAX Calmar Ratio Rank: 9
AWPAX Martin Ratio Rank: 10

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.

FSGEX vs. AWPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Global ex U.S. Index Fund (FSGEX) and AB Sustainable International Thematic Fund (AWPAX). 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.

	FSGEX	AWPAX	Difference
Sharpe ratio Return per unit of total volatility	1.43	0.20	+1.23
Sortino ratio Return per unit of downside risk	1.93	0.40	+1.53
Omega ratio Gain probability vs. loss probability	1.29	1.05	+0.24
Calmar ratio Return relative to maximum drawdown	1.89	0.17	+1.72
Martin ratio Return relative to average drawdown	7.46	0.69	+6.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSGEX vs. AWPAX - Sharpe Ratio Comparison

The current FSGEX Sharpe Ratio is 1.43, which is higher than the AWPAX Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of FSGEX and AWPAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSGEX	AWPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	0.20	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	-0.06	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.31	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.31	+0.05

Correlation

The correlation between FSGEX and AWPAX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSGEX vs. AWPAX - Dividend Comparison

FSGEX's dividend yield for the trailing twelve months is around 3.06%, while AWPAX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSGEX Fidelity Series Global ex U.S. Index Fund	3.06%	3.02%	2.98%	2.90%	2.78%	2.59%	1.68%	2.10%	2.86%	2.48%	2.56%	2.61%
AWPAX AB Sustainable International Thematic Fund	0.00%	0.00%	0.00%	0.00%	0.52%	7.00%	1.67%	1.11%	14.44%	0.00%	0.77%	0.00%

Drawdowns

FSGEX vs. AWPAX - Drawdown Comparison

The maximum FSGEX drawdown since its inception was -34.74%, smaller than the maximum AWPAX drawdown of -63.00%. Use the drawdown chart below to compare losses from any high point for FSGEX and AWPAX.

Drawdown Indicators

	FSGEX	AWPAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.74%	-63.00%	+28.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-13.44%	+2.20%
Max Drawdown (5Y) Largest decline over 5 years	-29.66%	-38.13%	+8.47%
Max Drawdown (10Y) Largest decline over 10 years	-34.74%	-38.13%	+3.39%
Current Drawdown Current decline from peak	-11.24%	-16.29%	+5.05%
Average Drawdown Average peak-to-trough decline	-8.51%	-18.85%	+10.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.40%	-0.54%

Volatility

FSGEX vs. AWPAX - Volatility Comparison

The current volatility for Fidelity Series Global ex U.S. Index Fund (FSGEX) is 7.21%, while AB Sustainable International Thematic Fund (AWPAX) has a volatility of 7.75%. This indicates that FSGEX experiences smaller price fluctuations and is considered to be less risky than AWPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSGEX	AWPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	7.75%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	11.71%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	16.99%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	17.04%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.12%	16.63%	-0.51%