FSPSX vs. VEMAX
FSPSX (Fidelity International Index Fund) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both mutual funds - FSPSX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index, while VEMAX is a Emerging Markets Equities fund managed by Vanguard. Over the past 10 years, FSPSX returned 9.45%/yr vs 9.04%/yr for VEMAX. A 0.74 correlation means they provide meaningful diversification when combined. FSPSX charges 0.04%/yr vs 0.14%/yr for VEMAX.
Performance
FSPSX vs. VEMAX - Performance Comparison
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Returns By Period
In the year-to-date period, FSPSX achieves a 9.51% return, which is significantly lower than VEMAX's 13.97% return. Both investments have delivered pretty close results over the past 10 years, with FSPSX having a 9.45% annualized return and VEMAX not far behind at 9.04%.
FSPSX
- 1D
- 0.41%
- 1M
- 4.06%
- YTD
- 9.51%
- 6M
- 12.14%
- 1Y
- 22.52%
- 3Y*
- 17.23%
- 5Y*
- 8.91%
- 10Y*
- 9.45%
VEMAX
- 1D
- 1.58%
- 1M
- 4.22%
- YTD
- 13.97%
- 6M
- 15.57%
- 1Y
- 32.68%
- 3Y*
- 18.62%
- 5Y*
- 5.62%
- 10Y*
- 9.04%
FSPSX vs. VEMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSPSX Fidelity International Index Fund | 9.51% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 22.03% | -13.55% | 25.37% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 13.97% | 24.76% | 11.34% | 8.82% | -17.79% | 0.85% | 15.24% | 20.29% | -14.59% | 31.37% |
Correlation
The correlation between FSPSX and VEMAX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.74 |
The correlation between FSPSX and VEMAX has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
FSPSX vs. VEMAX — Risk / Return Rank
FSPSX
VEMAX
FSPSX vs. VEMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity International Index Fund (FSPSX) and Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). 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.
| FSPSX | VEMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.42 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 3.00 | -1.09 |
| Martin ratioReturn relative to average drawdown | 7.16 | 11.18 | -4.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSPSX | VEMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 2.31 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.37 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.55 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.30 | +0.20 |
Drawdowns
FSPSX vs. VEMAX - Drawdown Comparison
The maximum FSPSX drawdown since its inception was -33.69%, smaller than the maximum VEMAX drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for FSPSX and VEMAX.
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Drawdown Indicators
| FSPSX | VEMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.69% | -66.45% | +32.76% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -11.05% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.58% | -15.78% | +2.20% |
Max Drawdown (5Y)Largest decline over 5 years | -29.41% | -32.55% | +3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -33.69% | -36.11% | +2.42% |
Current DrawdownCurrent decline from peak | -0.45% | 0.00% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -6.55% | -16.12% | +9.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 2.96% | +0.07% |
Volatility
FSPSX vs. VEMAX - Volatility Comparison
The current volatility for Fidelity International Index Fund (FSPSX) is 4.62%, while Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) has a volatility of 5.01%. This indicates that FSPSX experiences smaller price fluctuations and is considered to be less risky than VEMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSPSX | VEMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 5.01% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 12.04% | 11.80% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 14.31% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.98% | 15.38% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 16.46% | +0.10% |
FSPSX vs. VEMAX - Expense Ratio Comparison
FSPSX has a 0.04% expense ratio, which is lower than VEMAX's 0.14% 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. VEMAX - Dividend Comparison
FSPSX's dividend yield for the trailing twelve months is around 2.88%, more than VEMAX's 2.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPSX Fidelity International Index Fund | 2.88% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
VEMAX Vanguard Emerging Markets Stock Index Fund Admiral Shares | 2.34% | 2.74% | 3.13% | 3.47% | 4.05% | 2.57% | 1.87% | 3.20% | 2.85% | 2.31% | 2.51% | 3.25% |
Frequently Asked Questions
FSPSX and VEMAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEMAX has higher volatility (5.01%) compared to FSPSX (4.62%). In terms of maximum drawdown, FSPSX dropped -33.69% vs VEMAX's -66.45%.
VEMAX currently has the higher Sharpe Ratio (2.31 vs 1.47), 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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