OIIEX vs. FSGEX

Last updated Jun 4, 2026

OIIEX (Optimum International Fund) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, OIIEX returned 9.34%/yr vs 9.96%/yr for FSGEX. Their correlation of 0.94 suggests significant overlap in exposure. OIIEX charges 1.04%/yr vs 0.01%/yr for FSGEX.

Performance

OIIEX vs. FSGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Optimum International Fund (OIIEX) and Fidelity Series Global ex U.S. Index Fund (FSGEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OIIEX achieves a 17.33% return, which is significantly higher than FSGEX's 15.85% return. Over the past 10 years, OIIEX has underperformed FSGEX with an annualized return of 9.34%, while FSGEX has yielded a comparatively higher 9.96% annualized return.

OIIEX

• 1D: 0.65%
• 1M: 8.39%
• YTD: 17.33%
• 6M: 20.70%
• 1Y: 28.83%
• 3Y*: 19.82%
• 5Y*: 7.00%
• 10Y*: 9.34%

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%

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

OIIEX vs. FSGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OIIEX Optimum International Fund	17.33%	25.99%	8.41%	17.37%	-23.04%	8.52%	12.57%	19.60%	-13.98%	30.46%
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 OIIEX and FSGEX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.94

The correlation between OIIEX and FSGEX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

OIIEX vs. FSGEX — Risk / Return Rank

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

OIIEX

OIIEX Risk / Return Rank: 42
OIIEX Sharpe Ratio Rank: 42
OIIEX Sortino Ratio Rank: 40
OIIEX Omega Ratio Rank: 44
OIIEX Calmar Ratio Rank: 41
OIIEX Martin Ratio Rank: 44

FSGEX

FSGEX Risk / Return Rank: 59
FSGEX Sharpe Ratio Rank: 62
FSGEX Sortino Ratio Rank: 55
FSGEX Omega Ratio Rank: 59
FSGEX Calmar Ratio Rank: 60
FSGEX Martin Ratio Rank: 58

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.

OIIEX vs. FSGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optimum International Fund (OIIEX) 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.

	OIIEX	FSGEX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	2.31	-0.39
Sortino ratio: Return per unit of downside risk	2.64	3.13	-0.49
Omega ratio: Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	2.41	2.98	-0.58
Martin ratio: Return relative to average drawdown	9.26	11.69	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OIIEX vs. FSGEX - Sharpe Ratio Comparison

The current OIIEX Sharpe Ratio is 1.92, which is comparable to the FSGEX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of OIIEX and FSGEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OIIEX	FSGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.92	2.31	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.59	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.62	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.42	-0.03

Drawdowns

OIIEX vs. FSGEX - Drawdown Comparison

The maximum OIIEX drawdown since its inception was -58.10%, which is greater than FSGEX's maximum drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for OIIEX and FSGEX.

Drawdown Indicators

	OIIEX	FSGEX	Difference
Max Drawdown Largest peak-to-trough decline	-58.10%	-34.74%	-23.36%
Max Drawdown (1Y) Largest decline over 1 year	-11.93%	-11.24%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.64%	-13.34%	-1.30%
Max Drawdown (5Y) Largest decline over 5 years	-37.09%	-29.66%	-7.43%
Max Drawdown (10Y) Largest decline over 10 years	-37.43%	-34.74%	-2.69%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.44%	-8.45%	-3.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.86%	+0.23%

Volatility

OIIEX vs. FSGEX - Volatility Comparison

Optimum International Fund (OIIEX) 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.

Volatility by Period

	OIIEX	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	12.50%	12.28%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	14.99%	14.56%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	15.40%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	16.22%	+0.92%

OIIEX vs. FSGEX - Expense Ratio Comparison

OIIEX has a 1.04% expense ratio, which is higher than FSGEX's 0.01% expense ratio.

Dividends

OIIEX vs. FSGEX - Dividend Comparison

OIIEX's dividend yield for the trailing twelve months is around 1.19%, less 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%
OIIEX Optimum International Fund	1.19%	1.40%	1.62%	1.37%	3.08%	15.53%	3.16%	2.10%	8.98%	2.06%	1.16%	0.80%

Frequently Asked Questions

Can I hold both OIIEX and FSGEX in my portfolio?

With a correlation of 0.91, OIIEX 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.

Which is riskier, OIIEX or FSGEX?

FSGEX has higher volatility (4.95%) compared to OIIEX (4.72%). In terms of maximum drawdown, OIIEX dropped -58.10% vs FSGEX's -34.74%.

Which has better risk-adjusted returns?

FSGEX currently has the higher Sharpe Ratio (2.31 vs 1.92), 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.