IPOS vs. FIDI
IPOS (Renaissance International IPO ETF) and FIDI (Fidelity International High Dividend ETF) are both Foreign Large Cap Equities funds - IPOS tracks the Renaissance International IPO Index while FIDI tracks the Fidelity® International High Dividend Index. Both are passively managed. Over the past 5 years, IPOS returned -7.18%/yr vs 12.70%/yr for FIDI. Their 0.51 correlation means they have sometimes moved together and sometimes differently. IPOS charges 0.80%/yr vs 0.39%/yr for FIDI.
Performance
IPOS vs. FIDI - Performance Comparison
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Returns By Period
In the year-to-date period, IPOS achieves a 32.73% return, which is significantly higher than FIDI's 15.58% return.
IPOS
- 1D
- 0.99%
- 1M
- -8.90%
- 6M
- 16.48%
- YTD
- 32.73%
- 1Y
- 48.11%
- 3Y*
- 12.33%
- 5Y*
- -7.18%
- 10Y*
- 2.37%
- ALL TIME*
- 1.63%
FIDI
- 1D
- -0.92%
- 1M
- 5.97%
- 6M
- 10.31%
- YTD
- 15.58%
- 1Y
- 31.31%
- 3Y*
- 19.48%
- 5Y*
- 12.70%
- 10Y*
- —
- ALL TIME*
- 6.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.62M | $1.95M | $1.81M | |
| $55.92K | $63.26K | $109.96K |
IPOS vs. FIDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IPOS Renaissance International IPO ETF | 32.73% | 39.93% | -12.34% | -16.49% | -33.46% | -30.62% | 50.71% | 30.93% | -25.79% |
FIDI Fidelity International High Dividend ETF | 15.58% | 39.34% | -0.06% | 16.28% | -4.73% | 16.87% | -11.68% | 15.47% | -19.49% |
Correlation
The correlation between IPOS and FIDI is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018 | 0.51 |
The correlation between IPOS and FIDI shifts across timeframes, from 0.34 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IPOS vs. FIDI — Risk / Return Rank
IPOS
FIDI
IPOS vs. FIDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Renaissance International IPO ETF (IPOS) and Fidelity International High Dividend ETF (FIDI). 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.
| IPOS | FIDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.48 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 4.51 | -1.92 |
| Martin ratioReturn relative to average drawdown | 7.14 | 15.65 | -8.52 |
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Drawdowns
IPOS vs. FIDI - Drawdown Comparison
The maximum IPOS drawdown since its inception was -73.09%, which is greater than FIDI's maximum drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for IPOS and FIDI.
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Drawdown Indicators
| IPOS | FIDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.09% | -46.34% | -26.75% |
Max Drawdown (1Y)Largest decline over 1 year | -18.27% | -6.96% | -11.31% |
Max Drawdown (3Y)Largest decline over 3 years | -31.44% | -12.09% | -19.35% |
Max Drawdown (5Y)Largest decline over 5 years | -67.41% | -26.05% | -41.36% |
Max Drawdown (10Y)Largest decline over 10 years | -73.09% | — | — |
Current DrawdownCurrent decline from peak | -43.60% | -0.92% | -42.68% |
Average DrawdownAverage peak-to-trough decline | -32.09% | -9.63% | -22.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.63% | 2.00% | +4.63% |
Volatility
IPOS vs. FIDI - Volatility Comparison
Renaissance International IPO ETF (IPOS) has a higher volatility of 10.88% compared to Fidelity International High Dividend ETF (FIDI) at 2.97%. This indicates that IPOS's price experiences larger fluctuations and is considered to be riskier than FIDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPOS | FIDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.88% | 2.97% | +7.91% |
Volatility (6M)Calculated over the trailing 6-month period | 31.55% | 9.31% | +22.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.20% | 11.62% | +22.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.15% | 14.81% | +13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.60% | 18.62% | +5.98% |
IPOS vs. FIDI - Expense Ratio Comparison
IPOS has a 0.80% expense ratio, which is higher than FIDI's 0.39% expense ratio.
Dividends
IPOS vs. FIDI - Dividend Comparison
IPOS's dividend yield for the trailing twelve months is around 0.35%, less than FIDI's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDI Fidelity International High Dividend ETF | 3.90% | 4.33% | 5.72% | 4.80% | 5.09% | 4.00% | 3.36% | 4.26% | 4.37% | 0.00% | 0.00% | 0.00% |
IPOS Renaissance International IPO ETF | 0.35% | 1.04% | 0.93% | 0.33% | 0.00% | 0.00% | 0.25% | 0.89% | 1.12% | 0.87% | 1.73% | 1.08% |
Frequently Asked Questions
IPOS and FIDI have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPOS has higher volatility (10.88%) compared to FIDI (2.97%). In terms of maximum drawdown, IPOS dropped -73.09% vs FIDI's -46.34%.
On 5-year performance, FIDI leads with 12.70% vs -7.18% for IPOS. On fees, FIDI is cheaper at 0.39% per year. On volatility, FIDI has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FIDI has performed better with a 12.70% return vs -7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIDI is cheaper with a 0.39% expense ratio, compared with 0.80% for IPOS.
FIDI has the higher dividend yield at 3.90%, compared with 0.35% for IPOS.
IPOS tracks Renaissance International IPO Index, while FIDI tracks Fidelity® International High Dividend Index. They also come from different issuers: Renaissance Capital and Fidelity. Their fees differ too: 0.80% for IPOS and 0.39% for FIDI.
FIDI currently has the higher Sharpe Ratio (2.71 vs 1.39), 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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