FSGEX vs. RPICX

Last updated Jun 4, 2026

FSGEX (Fidelity Series Global ex U.S. Index Fund) and RPICX (T. Rowe Price Institutional International Disciplined Equity Fund) are both Foreign Large Cap Equities funds. Their correlation of 0.88 suggests significant overlap in exposure. FSGEX charges 0.01%/yr vs 0.75%/yr for RPICX.

Performance

FSGEX vs. RPICX - 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 T. Rowe Price Institutional International Disciplined Equity Fund (RPICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSGEX

• 1D: 0.76%
• 1M: 6.16%
• YTD: 15.85%
• 6M: 18.73%
• 1Y: 33.95%
• 3Y*: 20.16%
• 5Y*: 9.06%
• 10Y*: 9.96%

RPICX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSGEX vs. RPICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSGEX Fidelity Series Global ex U.S. Index Fund	15.85%	32.99%	5.34%	15.56%	-15.75%	7.77%	10.75%	21.41%	-13.99%	27.47%
RPICX T. Rowe Price Institutional International Disciplined Equity Fund	0.00%	0.00%	8.78%	17.23%	-10.26%	5.14%	4.57%	23.46%	-10.41%	21.67%

Correlation

The correlation between FSGEX and RPICX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011	0.88

The correlation between FSGEX and RPICX shifts across timeframes, from 0.53 (3 years) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSGEX vs. RPICX — Risk / Return Rank

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

FSGEX

FSGEX Risk / Return Rank: 59
FSGEX Sharpe Ratio Rank: 62
FSGEX Sortino Ratio Rank: 55
FSGEX Omega Ratio Rank: 59
FSGEX Calmar Ratio Rank: 60
FSGEX 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.

FSGEX vs. RPICX - 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 T. Rowe Price Institutional International Disciplined Equity Fund (RPICX). 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	RPICX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	—	—
Sortino ratio: Return per unit of downside risk	3.13	—	—
Omega ratio: Gain probability vs. loss probability	1.43	—	—
Calmar ratio: Return relative to maximum drawdown	2.98	—	—
Martin ratio: Return relative to average drawdown	11.69	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FSGEX	RPICX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	—	—

Drawdowns

Drawdown Indicators

	FSGEX	RPICX	Difference
Max Drawdown Largest peak-to-trough decline	-34.74%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.74%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-8.45%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	—	—

Volatility

Volatility by Period

	FSGEX	RPICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.56%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.22%	—	—

FSGEX vs. RPICX - Expense Ratio Comparison

FSGEX has a 0.01% expense ratio, which is lower than RPICX's 0.75% expense ratio.

Dividends

FSGEX vs. RPICX - Dividend Comparison

FSGEX's dividend yield for the trailing twelve months is around 2.61%, while RPICX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSGEX Fidelity Series Global ex U.S. Index Fund	2.61%	3.02%	2.98%	2.90%	2.78%	2.59%	1.68%	2.10%	2.86%	2.48%	2.56%	2.61%
RPICX T. Rowe Price Institutional International Disciplined Equity Fund	0.00%	0.00%	3.48%	2.79%	0.84%	3.15%	2.70%	3.61%	19.04%	6.08%	1.68%	2.37%

Frequently Asked Questions

Can I hold both FSGEX and RPICX in my portfolio?

FSGEX and RPICX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.