FZAIX vs. VFIFX

Last updated Jun 24, 2026

FZAIX (Fidelity Advisor International Discovery Fund Class Z) and VFIFX (Vanguard Target Retirement 2050 Fund) are both mutual funds - FZAIX is a Foreign Large Cap Equities fund managed by Fidelity, while VFIFX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, FZAIX returned 10.45%/yr vs 12.05%/yr for VFIFX. Their correlation of 0.87 suggests significant overlap in exposure. FZAIX charges 0.90%/yr vs 0.08%/yr for VFIFX.

Performance

FZAIX vs. VFIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Discovery Fund Class Z (FZAIX) and Vanguard Target Retirement 2050 Fund (VFIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAIX achieves a 14.87% return, which is significantly higher than VFIFX's 11.34% return. Over the past 10 years, FZAIX has underperformed VFIFX with an annualized return of 10.45%, while VFIFX has yielded a comparatively higher 12.05% annualized return.

FZAIX

• 1D: 0.42%
• 1M: 4.35%
• YTD: 14.87%
• 6M: 15.03%
• 1Y: 27.09%
• 3Y*: 19.56%
• 5Y*: 7.52%
• 10Y*: 10.45%

VFIFX

• 1D: -0.14%
• 1M: 1.55%
• YTD: 11.34%
• 6M: 10.70%
• 1Y: 26.39%
• 3Y*: 19.14%
• 5Y*: 10.10%
• 10Y*: 12.05%

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

FZAIX vs. VFIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAIX Fidelity Advisor International Discovery Fund Class Z	14.87%	27.69%	11.05%	14.28%	-24.72%	11.18%	21.54%	27.68%	-17.07%	30.29%
VFIFX Vanguard Target Retirement 2050 Fund	11.34%	21.42%	14.45%	20.39%	-17.48%	16.42%	16.40%	24.99%	-7.89%	19.15%

Correlation

The correlation between FZAIX and VFIFX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.87

The correlation between FZAIX and VFIFX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

FZAIX vs. VFIFX — Risk / Return Rank

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

FZAIX

FZAIX Risk / Return Rank: 35
FZAIX Sharpe Ratio Rank: 34
FZAIX Sortino Ratio Rank: 33
FZAIX Omega Ratio Rank: 32
FZAIX Calmar Ratio Rank: 36
FZAIX Martin Ratio Rank: 40

VFIFX

VFIFX Risk / Return Rank: 71
VFIFX Sharpe Ratio Rank: 73
VFIFX Sortino Ratio Rank: 68
VFIFX Omega Ratio Rank: 68
VFIFX Calmar Ratio Rank: 71
VFIFX Martin Ratio Rank: 77

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.

FZAIX vs. VFIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Discovery Fund Class Z (FZAIX) and Vanguard Target Retirement 2050 Fund (VFIFX). 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.

	FZAIX	VFIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.28	-0.73
Sortino ratio: Return per unit of downside risk	2.19	3.12	-0.93
Omega ratio: Gain probability vs. loss probability	1.28	1.42	-0.14
Calmar ratio: Return relative to maximum drawdown	2.14	3.10	-0.96
Martin ratio: Return relative to average drawdown	8.14	13.41	-5.27

FZAIX vs. VFIFX - Sharpe Ratio Comparison

The current FZAIX Sharpe Ratio is 1.55, which is lower than the VFIFX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FZAIX and VFIFX, 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

FZAIX vs. VFIFX - Drawdown Comparison

The maximum FZAIX drawdown since its inception was -36.47%, smaller than the maximum VFIFX drawdown of -51.68%. Use the drawdown chart below to compare losses from any high point for FZAIX and VFIFX.

Drawdown Indicators

	FZAIX	VFIFX	Difference
Max Drawdown Largest peak-to-trough decline	-36.47%	-51.68%	+15.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.10%	-8.87%	-4.23%
Max Drawdown (3Y) Largest decline over 3 years	-14.66%	-14.54%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-36.47%	-25.40%	-11.07%
Max Drawdown (10Y) Largest decline over 10 years	-36.47%	-31.36%	-5.11%
Current Drawdown Current decline from peak	0.00%	-0.65%	+0.65%
Average Drawdown Average peak-to-trough decline	-8.55%	-6.87%	-1.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	2.04%	+1.39%

Volatility

FZAIX vs. VFIFX - Volatility Comparison

Fidelity Advisor International Discovery Fund Class Z (FZAIX) has a higher volatility of 6.46% compared to Vanguard Target Retirement 2050 Fund (VFIFX) at 4.75%. This indicates that FZAIX's price experiences larger fluctuations and is considered to be riskier than VFIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAIX	VFIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	4.75%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	15.43%	9.93%	+5.50%
Volatility (1Y) Calculated over the trailing 1-year period	18.12%	12.07%	+6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	14.29%	+2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	15.15%	+1.90%

FZAIX vs. VFIFX - Expense Ratio Comparison

FZAIX has a 0.90% expense ratio, which is higher than VFIFX's 0.08% expense ratio.

Dividends

FZAIX vs. VFIFX - Dividend Comparison

FZAIX's dividend yield for the trailing twelve months is around 6.16%, more than VFIFX's 1.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZAIX Fidelity Advisor International Discovery Fund Class Z	6.16%	7.08%	3.06%	2.03%	0.47%	11.45%	3.78%	2.43%	4.00%	4.03%	1.97%	1.19%
VFIFX Vanguard Target Retirement 2050 Fund	1.88%	2.09%	2.26%	2.21%	2.38%	12.83%	1.84%	2.20%	2.51%	0.03%	2.04%	2.36%

Frequently Asked Questions

Can I hold both FZAIX and VFIFX in my portfolio?

With a correlation of 0.92, FZAIX and VFIFX 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, FZAIX or VFIFX?

FZAIX has higher volatility (6.46%) compared to VFIFX (4.75%). In terms of maximum drawdown, FZAIX dropped -36.47% vs VFIFX's -51.68%.

Which has better risk-adjusted returns?

VFIFX currently has the higher Sharpe Ratio (2.28 vs 1.55), 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.