FSGEX vs. VEU
FSGEX (Fidelity Series Global ex U.S. Index Fund) and VEU (Vanguard FTSE All-World ex-US ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, FSGEX returned 9.52%/yr vs 9.66%/yr for VEU. Their 0.97 correlation means they have historically moved very closely together. FSGEX charges 0.01%/yr vs 0.04%/yr for VEU.
Performance
FSGEX vs. VEU - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FSGEX having a 13.66% return and VEU slightly lower at 13.33%. Both investments have delivered pretty close results over the past 10 years, with FSGEX having a 9.52% annualized return and VEU not far ahead at 9.66%.
FSGEX
- 1D
- 2.87%
- 1M
- 0.34%
- 6M
- 7.66%
- YTD
- 13.66%
- 1Y
- 29.13%
- 3Y*
- 17.36%
- 5Y*
- 9.21%
- 10Y*
- 9.52%
- ALL TIME*
- 6.76%
VEU
- 1D
- -0.22%
- 1M
- -0.16%
- 6M
- 7.25%
- YTD
- 13.33%
- 1Y
- 28.40%
- 3Y*
- 17.58%
- 5Y*
- 9.15%
- 10Y*
- 9.66%
- ALL TIME*
- 5.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $230.24M | $229.52M | $221.55M |
FSGEX vs. VEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSGEX Fidelity Series Global ex U.S. Index Fund | 13.66% | 32.99% | 5.34% | 15.56% | -15.75% | 7.77% | 10.75% | 21.41% | -13.99% | 27.47% |
VEU Vanguard FTSE All-World ex-US ETF | 13.33% | 32.35% | 5.56% | 15.84% | -15.58% | 8.27% | 11.10% | 21.83% | -14.18% | 27.40% |
Correlation
The correlation between FSGEX and VEU is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009 | 0.97 |
The correlation between FSGEX and VEU has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
FSGEX vs. VEU — Risk / Return Rank
FSGEX
VEU
FSGEX vs. VEU - 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 Vanguard FTSE All-World ex-US ETF (VEU). 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.
| FSGEX | VEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.46 | +0.01 |
| Martin ratioReturn relative to average drawdown | 9.15 | 9.00 | +0.15 |
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Drawdowns
FSGEX vs. VEU - Drawdown Comparison
The maximum FSGEX drawdown since its inception was -34.74%, smaller than the maximum VEU drawdown of -61.52%. Use the drawdown chart below to compare losses from any high point for FSGEX and VEU.
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Drawdown Indicators
| FSGEX | VEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.74% | -61.52% | +26.78% |
Max Drawdown (1Y)Largest decline over 1 year | -11.24% | -11.43% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -13.34% | -13.69% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | -29.14% | -0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -34.74% | -34.98% | +0.24% |
Current DrawdownCurrent decline from peak | -2.30% | -2.79% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -13.05% | +4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 3.12% | -0.09% |
Volatility
FSGEX vs. VEU - Volatility Comparison
Fidelity Series Global ex U.S. Index Fund (FSGEX) and Vanguard FTSE All-World ex-US ETF (VEU) have volatilities of 5.45% and 5.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSGEX | VEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 5.31% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 14.55% | 15.10% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 16.96% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.74% | 16.37% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 17.08% | -0.96% |
FSGEX vs. VEU - Expense Ratio Comparison
FSGEX has a 0.01% expense ratio, which is lower than VEU's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FSGEX vs. VEU - Dividend Comparison
FSGEX's dividend yield for the trailing twelve months is around 2.66%, more than VEU's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSGEX Fidelity Series Global ex U.S. Index Fund | 2.66% | 3.02% | 2.98% | 2.90% | 2.78% | 2.59% | 1.68% | 2.10% | 2.86% | 2.48% | 2.56% | 2.61% |
VEU Vanguard FTSE All-World ex-US ETF | 2.56% | 3.09% | 3.24% | 3.32% | 3.12% | 3.08% | 2.00% | 3.10% | 3.27% | 2.66% | 2.96% | 2.95% |
Frequently Asked Questions
With a correlation of 0.99, FSGEX and VEU 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.
FSGEX has higher volatility (5.45%) compared to VEU (5.31%). In terms of maximum drawdown, FSGEX dropped -34.74% vs VEU's -61.52%.
FSGEX currently has the higher Sharpe Ratio (1.69 vs 1.66), 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.
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