FSPSX vs. FSGGX

Last updated Aug 1, 2026

FSPSX (Fidelity International Index Fund) and FSGGX (Fidelity Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds from Fidelity - FSPSX tracks the MSCI EAFE Index while FSGGX tracks the MSCI ACWI ex USA Index. Both are passively managed. Over the past 10 years, FSPSX returned 9.69%/yr vs 9.04%/yr for FSGGX. Their 0.97 correlation means they have historically moved very closely together. FSPSX charges 0.04%/yr vs 0.06%/yr for FSGGX.

Performance

FSPSX vs. FSGGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSPSX achieves a 12.57% return, which is significantly lower than FSGGX's 13.67% return. Over the past 10 years, FSPSX has outperformed FSGGX with an annualized return of 9.69%, while FSGGX has yielded a comparatively lower 9.04% annualized return.

FSPSX

• 1D: 2.56%
• 1M: 1.98%
• 6M: 7.21%
• YTD: 12.57%
• 1Y: 26.28%
• 3Y*: 16.54%
• 5Y*: 9.66%
• 10Y*: 9.69%
• ALL TIME*: 8.28%

FSGGX

• 1D: 2.86%
• 1M: 0.33%
• 6M: 7.66%
• YTD: 13.67%
• 1Y: 29.08%
• 3Y*: 17.33%
• 5Y*: 9.20%
• 10Y*: 9.04%
• ALL TIME*: 7.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSGGX Fidelity Global ex U.S. Index Fund	$0.00	$0.00	$0.00
FSPSX Fidelity International Index Fund	$0.00	$0.00	$0.00

FSPSX vs. FSGGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSPSX Fidelity International Index Fund	12.57%	31.98%	3.70%	18.31%	-14.23%	11.45%	8.16%	22.03%	-13.55%	25.37%
FSGGX Fidelity Global ex U.S. Index Fund	13.67%	32.93%	5.30%	15.57%	-15.75%	7.74%	10.73%	21.36%	-13.93%	24.73%

Correlation

The correlation between FSPSX and FSGGX is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011	0.97

The correlation between FSPSX and FSGGX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

FSPSX vs. FSGGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSPSX

FSPSX Risk / Return Rank: 70
FSPSX Sharpe Ratio Rank: 72
FSPSX Sortino Ratio Rank: 70
FSPSX Omega Ratio Rank: 69
FSPSX Calmar Ratio Rank: 70
FSPSX Martin Ratio Rank: 70

FSGGX

FSGGX Risk / Return Rank: 75
FSGGX Sharpe Ratio Rank: 74
FSGGX Sortino Ratio Rank: 71
FSGGX Omega Ratio Rank: 74
FSGGX Calmar Ratio Rank: 77
FSGGX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSPSX vs. FSGGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Index Fund (FSPSX) and Fidelity Global ex U.S. Index Fund (FSGGX). 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.

	FSPSX	FSGGX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.68	-0.07
Sortino ratio: Return per unit of downside risk	2.29	2.32	-0.03
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	2.20	2.45	-0.26
Martin ratio: Return relative to average drawdown	8.33	9.10	-0.77

FSPSX vs. FSGGX - Sharpe Ratio Comparison

The current FSPSX Sharpe Ratio is 1.62, which is comparable to the FSGGX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of FSPSX and FSGGX, 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

FSPSX vs. FSGGX - Drawdown Comparison

The maximum FSPSX drawdown since its inception was -33.69%, roughly equal to the maximum FSGGX drawdown of -34.76%. Use the drawdown chart below to compare losses from any high point for FSPSX and FSGGX.

Drawdown Indicators

	FSPSX	FSGGX	Difference
Max Drawdown Largest peak-to-trough decline	-33.69%	-34.76%	+1.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.39%	-11.26%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-13.31%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-29.41%	-29.53%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	-33.69%	-34.76%	+1.07%
Current Drawdown Current decline from peak	0.00%	-2.35%	+2.35%
Average Drawdown Average peak-to-trough decline	-6.49%	-7.29%	+0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	3.03%	-0.03%

Volatility

FSPSX vs. FSGGX - Volatility Comparison

The current volatility for Fidelity International Index Fund (FSPSX) is 4.57%, while Fidelity Global ex U.S. Index Fund (FSGGX) has a volatility of 5.45%. This indicates that FSPSX experiences smaller price fluctuations and is considered to be less risky than FSGGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSPSX	FSGGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	5.45%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	14.57%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	16.42%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	15.71%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	16.10%	+0.19%

FSPSX vs. FSGGX - Expense Ratio Comparison

FSPSX has a 0.04% expense ratio, which is lower than FSGGX's 0.06% 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

FSPSX vs. FSGGX - Dividend Comparison

FSPSX's dividend yield for the trailing twelve months is around 2.80%, more than FSGGX's 2.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSGGX Fidelity Global ex U.S. Index Fund	2.38%	2.70%	2.91%	2.95%	2.64%	2.60%	1.71%	2.85%	2.66%	0.22%	0.05%	2.44%
FSPSX Fidelity International Index Fund	2.80%	3.15%	3.27%	2.79%	2.66%	3.07%	1.84%	3.18%	2.79%	2.50%	3.08%	2.79%

Frequently Asked Questions

Can I hold both FSPSX and FSGGX in my portfolio?

With a correlation of 0.95, FSPSX and FSGGX 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, FSPSX or FSGGX?

FSGGX has higher volatility (5.45%) compared to FSPSX (4.57%). In terms of maximum drawdown, FSPSX dropped -33.69% vs FSGGX's -34.76%.

Which has better risk-adjusted returns?

FSGGX currently has the higher Sharpe Ratio (1.68 vs 1.62), 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.