MDIZX vs. FSPSX

Last updated Jun 24, 2026

MDIZX (MFS International Diversification Fund R6) and FSPSX (Fidelity International Index Fund) are both Foreign Large Cap Equities funds - MDIZX tracks the MSCI All Country World (ex-US) Index (net div) while FSPSX tracks the MSCI EAFE Index. Both are passively managed. Over the past 5 years, MDIZX returned 7.48%/yr vs 9.39%/yr for FSPSX. Their correlation of 0.95 suggests significant overlap in exposure. MDIZX charges 0.73%/yr vs 0.04%/yr for FSPSX.

Performance

MDIZX vs. FSPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Diversification Fund R6 (MDIZX) and Fidelity International Index Fund (FSPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDIZX achieves a 10.08% return, which is significantly lower than FSPSX's 10.74% return.

MDIZX

• 1D: -0.13%
• 1M: 1.87%
• YTD: 10.08%
• 6M: 9.84%
• 1Y: 23.16%
• 3Y*: 16.40%
• 5Y*: 7.48%
• 10Y*: —

FSPSX

• 1D: 0.18%
• 1M: 2.11%
• YTD: 10.74%
• 6M: 10.40%
• 1Y: 24.77%
• 3Y*: 17.73%
• 5Y*: 9.39%
• 10Y*: 10.29%

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

MDIZX vs. FSPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDIZX MFS International Diversification Fund R6	10.08%	27.99%	6.52%	14.48%	-17.04%	7.79%	15.45%	26.09%	-10.93%	3.71%
FSPSX Fidelity International Index Fund	10.74%	31.98%	3.70%	18.31%	-14.23%	11.45%	8.16%	22.03%	-13.55%	2.35%

Correlation

The correlation between MDIZX and FSPSX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017	0.95

The correlation between MDIZX and FSPSX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

MDIZX vs. FSPSX — Risk / Return Rank

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

MDIZX

MDIZX Risk / Return Rank: 40
MDIZX Sharpe Ratio Rank: 44
MDIZX Sortino Ratio Rank: 41
MDIZX Omega Ratio Rank: 45
MDIZX Calmar Ratio Rank: 33
MDIZX Martin Ratio Rank: 37

FSPSX

FSPSX Risk / Return Rank: 39
FSPSX Sharpe Ratio Rank: 40
FSPSX Sortino Ratio Rank: 38
FSPSX Omega Ratio Rank: 38
FSPSX Calmar Ratio Rank: 39
FSPSX Martin Ratio Rank: 42

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.

MDIZX vs. FSPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Diversification Fund R6 (MDIZX) and Fidelity International Index Fund (FSPSX). 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.

	MDIZX	FSPSX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.69	+0.10
Sortino ratio: Return per unit of downside risk	2.49	2.39	+0.10
Omega ratio: Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio: Return relative to maximum drawdown	2.06	2.26	-0.20
Martin ratio: Return relative to average drawdown	7.75	8.48	-0.73

MDIZX vs. FSPSX - Sharpe Ratio Comparison

The current MDIZX Sharpe Ratio is 1.79, which is comparable to the FSPSX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MDIZX and FSPSX, 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

MDIZX vs. FSPSX - Drawdown Comparison

The maximum MDIZX drawdown since its inception was -30.09%, smaller than the maximum FSPSX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for MDIZX and FSPSX.

Drawdown Indicators

	MDIZX	FSPSX	Difference
Max Drawdown Largest peak-to-trough decline	-30.09%	-33.69%	+3.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-11.39%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.59%	-13.58%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-30.09%	-29.41%	-0.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.69%	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-6.66%	-6.53%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.04%	-0.03%

Volatility

MDIZX vs. FSPSX - Volatility Comparison

MFS International Diversification Fund R6 (MDIZX) and Fidelity International Index Fund (FSPSX) have volatilities of 4.89% and 4.77%, 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.

Volatility by Period

	MDIZX	FSPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	4.77%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	12.68%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	15.26%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	16.07%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.23%	16.53%	-1.30%

MDIZX vs. FSPSX - Expense Ratio Comparison

MDIZX has a 0.73% expense ratio, which is higher than FSPSX's 0.04% expense ratio.

Dividends

MDIZX vs. FSPSX - Dividend Comparison

MDIZX's dividend yield for the trailing twelve months is around 4.78%, more than FSPSX's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPSX Fidelity International Index Fund	2.85%	3.15%	3.27%	2.79%	2.66%	3.07%	1.84%	3.18%	2.79%	2.50%	3.08%	2.79%
MDIZX MFS International Diversification Fund R6	4.78%	5.26%	3.61%	4.24%	2.76%	2.79%	1.72%	2.57%	3.23%	1.66%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDIZX and FSPSX in my portfolio?

With a correlation of 0.91, MDIZX and FSPSX 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, MDIZX or FSPSX?

MDIZX has higher volatility (4.89%) compared to FSPSX (4.77%). In terms of maximum drawdown, MDIZX dropped -30.09% vs FSPSX's -33.69%.

Which has better risk-adjusted returns?

MDIZX currently has the higher Sharpe Ratio (1.79 vs 1.69), 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.