MAIIX vs. FSGEX
MAIIX (iShares MSCI EAFE International Index Fund) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, MAIIX returned 9.36%/yr vs 9.96%/yr for FSGEX. With a 0.96 correlation, they move nearly in lockstep. MAIIX charges 0.09%/yr vs 0.01%/yr for FSGEX.
Performance
MAIIX vs. FSGEX - Performance Comparison
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Returns By Period
In the year-to-date period, MAIIX achieves a 9.66% return, which is significantly lower than FSGEX's 15.85% return. Over the past 10 years, MAIIX has underperformed FSGEX with an annualized return of 9.36%, while FSGEX has yielded a comparatively higher 9.96% annualized return.
MAIIX
- 1D
- 0.38%
- 1M
- 4.17%
- YTD
- 9.66%
- 6M
- 12.02%
- 1Y
- 22.42%
- 3Y*
- 17.16%
- 5Y*
- 8.87%
- 10Y*
- 9.36%
FSGEX
- 1D
- 0.76%
- 1M
- 6.16%
- YTD
- 15.85%
- 6M
- 18.73%
- 1Y
- 33.95%
- 3Y*
- 20.16%
- 5Y*
- 9.06%
- 10Y*
- 9.96%
MAIIX vs. FSGEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MAIIX iShares MSCI EAFE International Index Fund | 9.66% | 31.62% | 3.65% | 18.35% | -14.15% | 11.25% | 8.03% | 21.82% | -13.43% | 25.24% |
FSGEX Fidelity Series Global ex U.S. Index Fund | 15.85% | 32.99% | 5.34% | 15.56% | -15.75% | 7.77% | 10.75% | 21.41% | -13.99% | 27.47% |
Correlation
The correlation between MAIIX and FSGEX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009 | 0.96 |
The correlation between MAIIX and FSGEX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
MAIIX vs. FSGEX — Risk / Return Rank
MAIIX
FSGEX
MAIIX vs. FSGEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EAFE International Index Fund (MAIIX) and Fidelity Series Global ex U.S. Index Fund (FSGEX). 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.
| MAIIX | FSGEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.43 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.98 | -1.08 |
| Martin ratioReturn relative to average drawdown | 7.14 | 11.69 | -4.55 |
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
| MAIIX | FSGEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 2.31 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.59 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.62 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.42 | -0.10 |
Drawdowns
MAIIX vs. FSGEX - Drawdown Comparison
The maximum MAIIX drawdown since its inception was -61.05%, which is greater than FSGEX's maximum drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for MAIIX and FSGEX.
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Drawdown Indicators
| MAIIX | FSGEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.05% | -34.74% | -26.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.31% | -11.24% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -13.68% | -13.34% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -29.66% | +0.35% |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | -34.74% | +0.73% |
Current DrawdownCurrent decline from peak | -0.38% | 0.00% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -8.45% | -6.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.86% | +0.16% |
Volatility
MAIIX vs. FSGEX - Volatility Comparison
iShares MSCI EAFE International Index Fund (MAIIX) and Fidelity Series Global ex U.S. Index Fund (FSGEX) have volatilities of 4.72% and 4.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAIIX | FSGEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 4.95% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 12.28% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 14.56% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.14% | 15.40% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 16.22% | +0.43% |
MAIIX vs. FSGEX - Expense Ratio Comparison
MAIIX has a 0.09% expense ratio, which is higher than FSGEX's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MAIIX vs. FSGEX - Dividend Comparison
MAIIX's dividend yield for the trailing twelve months is around 3.38%, more than FSGEX's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSGEX Fidelity Series Global ex U.S. Index Fund | 2.61% | 3.02% | 2.98% | 2.90% | 2.78% | 2.59% | 1.68% | 2.10% | 2.86% | 2.48% | 2.56% | 2.61% |
MAIIX iShares MSCI EAFE International Index Fund | 3.38% | 3.71% | 3.38% | 3.16% | 2.76% | 3.00% | 1.94% | 3.29% | 4.53% | 2.42% | 2.81% | 2.40% |
Frequently Asked Questions
With a correlation of 0.95, MAIIX and FSGEX 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.
FSGEX has higher volatility (4.95%) compared to MAIIX (4.72%). In terms of maximum drawdown, MAIIX dropped -61.05% vs FSGEX's -34.74%.
FSGEX currently has the higher Sharpe Ratio (2.31 vs 1.43), 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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