FSQIX vs. STEZX

Last updated Jun 25, 2026

FSQIX (Fidelity Sustainable International Equity Fund) and STEZX (AB International Strategic Equities Portfolio) are both Foreign Large Cap Equities funds. Over the past 3 years, FSQIX returned 16.58%/yr vs 26.60%/yr for STEZX. Their correlation of 0.93 suggests significant overlap in exposure. FSQIX charges 1.05%/yr vs 0.71%/yr for STEZX.

Performance

FSQIX vs. STEZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainable International Equity Fund (FSQIX) and AB International Strategic Equities Portfolio (STEZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSQIX achieves a 10.79% return, which is significantly lower than STEZX's 18.53% return.

FSQIX

• 1D: -2.80%
• 1M: 1.42%
• YTD: 10.79%
• 6M: 10.70%
• 1Y: 22.96%
• 3Y*: 16.58%
• 5Y*: —
• 10Y*: —

STEZX

• 1D: -3.92%
• 1M: -0.10%
• YTD: 18.53%
• 6M: 18.75%
• 1Y: 39.30%
• 3Y*: 26.60%
• 5Y*: 12.52%
• 10Y*: 11.38%

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

FSQIX vs. STEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSQIX Fidelity Sustainable International Equity Fund	10.79%	26.26%	7.85%	13.35%	-16.42%
STEZX AB International Strategic Equities Portfolio	18.53%	43.11%	12.75%	13.56%	-15.65%

Correlation

The correlation between FSQIX and STEZX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.93

The correlation between FSQIX and STEZX has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

FSQIX vs. STEZX — Risk / Return Rank

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

FSQIX

FSQIX Risk / Return Rank: 32
FSQIX Sharpe Ratio Rank: 32
FSQIX Sortino Ratio Rank: 30
FSQIX Omega Ratio Rank: 31
FSQIX Calmar Ratio Rank: 32
FSQIX Martin Ratio Rank: 36

STEZX

STEZX Risk / Return Rank: 77
STEZX Sharpe Ratio Rank: 77
STEZX Sortino Ratio Rank: 67
STEZX Omega Ratio Rank: 76
STEZX Calmar Ratio Rank: 82
STEZX Martin Ratio Rank: 85

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.

FSQIX vs. STEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable International Equity Fund (FSQIX) and AB International Strategic Equities Portfolio (STEZX). 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.

	FSQIX	STEZX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.30	-0.93
Sortino ratio: Return per unit of downside risk	1.94	2.99	-1.05
Omega ratio: Gain probability vs. loss probability	1.25	1.44	-0.19
Calmar ratio: Return relative to maximum drawdown	1.85	3.47	-1.61
Martin ratio: Return relative to average drawdown	6.94	14.38	-7.44

FSQIX vs. STEZX - Sharpe Ratio Comparison

The current FSQIX Sharpe Ratio is 1.37, which is lower than the STEZX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FSQIX and STEZX, 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

FSQIX vs. STEZX - Drawdown Comparison

The maximum FSQIX drawdown since its inception was -27.85%, smaller than the maximum STEZX drawdown of -36.51%. Use the drawdown chart below to compare losses from any high point for FSQIX and STEZX.

Drawdown Indicators

	FSQIX	STEZX	Difference
Max Drawdown Largest peak-to-trough decline	-27.85%	-36.51%	+8.66%
Max Drawdown (1Y) Largest decline over 1 year	-13.26%	-12.02%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-17.02%	-14.01%	-3.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.51%	—
Current Drawdown Current decline from peak	-2.80%	-3.92%	+1.12%
Average Drawdown Average peak-to-trough decline	-7.41%	-7.28%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.89%	+0.65%

Volatility

FSQIX vs. STEZX - Volatility Comparison

The current volatility for Fidelity Sustainable International Equity Fund (FSQIX) is 6.62%, while AB International Strategic Equities Portfolio (STEZX) has a volatility of 8.44%. This indicates that FSQIX experiences smaller price fluctuations and is considered to be less risky than STEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSQIX	STEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.62%	8.44%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	15.17%	16.04%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	18.13%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	16.69%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	16.25%	+1.41%

FSQIX vs. STEZX - Expense Ratio Comparison

FSQIX has a 1.05% expense ratio, which is higher than STEZX's 0.71% expense ratio.

Dividends

FSQIX vs. STEZX - Dividend Comparison

FSQIX's dividend yield for the trailing twelve months is around 1.94%, less than STEZX's 10.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FSQIX Fidelity Sustainable International Equity Fund	1.94%	2.15%	1.93%	1.62%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STEZX AB International Strategic Equities Portfolio	10.59%	12.56%	2.45%	3.08%	4.12%	5.96%	1.29%	2.05%	3.23%	2.92%	1.72%

Frequently Asked Questions

Can I hold both FSQIX and STEZX in my portfolio?

With a correlation of 0.92, FSQIX and STEZX 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, FSQIX or STEZX?

STEZX has higher volatility (8.44%) compared to FSQIX (6.62%). In terms of maximum drawdown, FSQIX dropped -27.85% vs STEZX's -36.51%.

Which has better risk-adjusted returns?

STEZX currently has the higher Sharpe Ratio (2.30 vs 1.37), 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.