MFDX vs. FIDI
MFDX (PIMCO RAFI Dynamic Multi-Factor International Equity ETF) and FIDI (Fidelity International High Dividend ETF) are both Foreign Large Cap Equities funds - MFDX tracks the RAFI Dynamic Multi-Factor Developed Ex-U.S. Index while FIDI tracks the Fidelity® International High Dividend Index. Both are passively managed. Over the past 5 years, MFDX returned 10.45%/yr vs 12.70%/yr for FIDI. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.39% expense ratio.
Performance
MFDX vs. FIDI - Performance Comparison
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Returns By Period
In the year-to-date period, MFDX achieves a 10.18% return, which is significantly lower than FIDI's 15.58% return.
MFDX
- 1D
- -0.43%
- 1M
- 0.37%
- 6M
- 4.44%
- YTD
- 10.18%
- 1Y
- 22.36%
- 3Y*
- 17.13%
- 5Y*
- 10.45%
- 10Y*
- —
- ALL TIME*
- 8.77%
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 | |
| $1.14M | $830.75K | $740.34K |
MFDX vs. FIDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 10.18% | 34.27% | 4.40% | 17.54% | -10.27% | 11.07% | 6.90% | 19.88% | -18.34% |
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 MFDX and FIDI is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 18, 2018 | 0.88 |
The correlation between MFDX and FIDI has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.
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Return for Risk
MFDX vs. FIDI — Risk / Return Rank
MFDX
FIDI
MFDX vs. FIDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) 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.
| MFDX | FIDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 4.51 | -2.37 |
| Martin ratioReturn relative to average drawdown | 8.19 | 15.65 | -7.46 |
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Drawdowns
MFDX vs. FIDI - Drawdown Comparison
The maximum MFDX drawdown since its inception was -36.05%, smaller than the maximum FIDI drawdown of -46.34%. Use the drawdown chart below to compare losses from any high point for MFDX and FIDI.
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Drawdown Indicators
| MFDX | FIDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.05% | -46.34% | +10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.66% | -6.96% | -3.70% |
Max Drawdown (3Y)Largest decline over 3 years | -11.62% | -12.09% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -25.58% | -26.05% | +0.47% |
Current DrawdownCurrent decline from peak | -1.44% | -0.92% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -9.63% | +3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.00% | +0.79% |
Volatility
MFDX vs. FIDI - Volatility Comparison
PIMCO RAFI Dynamic Multi-Factor International Equity ETF (MFDX) has a higher volatility of 4.45% compared to Fidelity International High Dividend ETF (FIDI) at 2.97%. This indicates that MFDX'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
| MFDX | FIDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 2.97% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.48% | 9.31% | +3.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.44% | 11.62% | +2.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.10% | 14.81% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 18.62% | -2.22% |
MFDX vs. FIDI - Expense Ratio Comparison
Both MFDX and FIDI have an expense ratio of 0.39%.
Dividends
MFDX vs. FIDI - Dividend Comparison
MFDX's dividend yield for the trailing twelve months is around 2.91%, less than FIDI's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF | 2.91% | 2.97% | 3.16% | 3.12% | 2.85% | 2.99% | 1.58% | 2.88% | 2.13% | 0.71% |
Frequently Asked Questions
MFDX and FIDI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFDX has higher volatility (4.45%) compared to FIDI (2.97%). In terms of maximum drawdown, MFDX dropped -36.05% vs FIDI's -46.34%.
On 5-year performance, FIDI leads with 12.70% vs 10.45% for MFDX. Both ETFs have the same 0.39% expense ratio. 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 10.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MFDX and FIDI have the same expense ratio: 0.39% per year.
FIDI has the higher dividend yield at 3.90%, compared with 2.91% for MFDX.
MFDX tracks RAFI Dynamic Multi-Factor Developed Ex-U.S. Index, while FIDI tracks Fidelity® International High Dividend Index. They also come from different issuers: PIMCO and Fidelity.
FIDI currently has the higher Sharpe Ratio (2.71 vs 1.59), 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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