FSTSX vs. VEA

Last updated Jun 4, 2026

FSTSX (Fidelity Series International Small Cap Fund) and VEA (Vanguard FTSE Developed Markets ETF) are both funds - FSTSX is a Foreign Small & Mid Cap Equities fund managed by Fidelity, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, FSTSX returned 9.90%/yr vs 10.17%/yr for VEA. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.

Performance

FSTSX vs. VEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series International Small Cap Fund (FSTSX) and Vanguard FTSE Developed Markets ETF (VEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSTSX achieves a 7.71% return, which is significantly lower than VEA's 14.92% return. Both investments have delivered pretty close results over the past 10 years, with FSTSX having a 9.90% annualized return and VEA not far ahead at 10.17%.

FSTSX

• 1D: 0.47%
• 1M: 2.77%
• YTD: 7.71%
• 6M: 10.35%
• 1Y: 18.27%
• 3Y*: 15.84%
• 5Y*: 6.40%
• 10Y*: 9.90%

VEA

• 1D: -0.90%
• 1M: 5.54%
• YTD: 14.92%
• 6M: 18.15%
• 1Y: 32.48%
• 3Y*: 19.77%
• 5Y*: 9.60%
• 10Y*: 10.17%

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

FSTSX vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSTSX Fidelity Series International Small Cap Fund	7.71%	27.49%	4.97%	18.36%	-26.25%	18.29%	19.61%	28.24%	-13.19%	34.44%
VEA Vanguard FTSE Developed Markets ETF	14.92%	35.16%	3.15%	17.93%	-15.34%	11.66%	9.71%	22.62%	-14.75%	26.42%

Correlation

The correlation between FSTSX and VEA is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 7, 2009	0.87

The correlation between FSTSX and VEA has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

Return for Risk

FSTSX vs. VEA — Risk / Return Rank

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

FSTSX

FSTSX Risk / Return Rank: 20
FSTSX Sharpe Ratio Rank: 20
FSTSX Sortino Ratio Rank: 20
FSTSX Omega Ratio Rank: 20
FSTSX Calmar Ratio Rank: 19
FSTSX Martin Ratio Rank: 20

VEA

VEA Risk / Return Rank: 59
VEA Sharpe Ratio Rank: 60
VEA Sortino Ratio Rank: 60
VEA Omega Ratio Rank: 60
VEA Calmar Ratio Rank: 55
VEA Martin Ratio Rank: 60

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.

FSTSX vs. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series International Small Cap Fund (FSTSX) and Vanguard FTSE Developed Markets ETF (VEA). 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.

	FSTSX	VEA	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.09	-0.81
Sortino ratio: Return per unit of downside risk	1.88	2.87	-0.99
Omega ratio: Gain probability vs. loss probability	1.23	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	1.59	2.81	-1.22
Martin ratio: Return relative to average drawdown	5.37	10.94	-5.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSTSX vs. VEA - Sharpe Ratio Comparison

The current FSTSX Sharpe Ratio is 1.28, which is lower than the VEA Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FSTSX and VEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSTSX	VEA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	2.09	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.58	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.59	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.25	+0.38

Drawdowns

FSTSX vs. VEA - Drawdown Comparison

The maximum FSTSX drawdown since its inception was -38.91%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for FSTSX and VEA.

Drawdown Indicators

	FSTSX	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-38.91%	-60.68%	+21.77%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-11.63%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-14.47%	-13.45%	-1.02%
Max Drawdown (5Y) Largest decline over 5 years	-38.91%	-29.71%	-9.20%
Max Drawdown (10Y) Largest decline over 10 years	-38.91%	-35.73%	-3.18%
Current Drawdown Current decline from peak	-1.08%	-0.90%	-0.18%
Average Drawdown Average peak-to-trough decline	-7.89%	-13.29%	+5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.98%	+0.32%

Volatility

FSTSX vs. VEA - Volatility Comparison

The current volatility for Fidelity Series International Small Cap Fund (FSTSX) is 4.43%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 5.66%. This indicates that FSTSX experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTSX	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	5.66%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	13.32%	-2.26%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	15.66%	-1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	16.55%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.94%	17.36%	-1.42%

FSTSX vs. VEA - Expense Ratio Comparison

Both FSTSX and VEA have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FSTSX vs. VEA - Dividend Comparison

FSTSX's dividend yield for the trailing twelve months is around 14.15%, more than VEA's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSTSX Fidelity Series International Small Cap Fund	14.15%	15.24%	10.22%	3.34%	6.38%	13.22%	0.81%	4.27%	10.99%	6.30%	4.01%	7.32%
VEA Vanguard FTSE Developed Markets ETF	2.62%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both FSTSX and VEA in my portfolio?

FSTSX and VEA have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSTSX or VEA?

VEA has higher volatility (5.66%) compared to FSTSX (4.43%). In terms of maximum drawdown, FSTSX dropped -38.91% vs VEA's -60.68%.

Which has better risk-adjusted returns?

VEA currently has the higher Sharpe Ratio (2.09 vs 1.28), 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.