PIIFX vs. FINVX
PIIFX (Pioneer International Equity Fund) and FINVX (Fidelity Series International Value Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, PIIFX returned 10.63%/yr vs 10.61%/yr for FINVX. Their correlation of 0.94 suggests significant overlap in exposure. PIIFX charges 1.15%/yr vs 0.01%/yr for FINVX.
Performance
PIIFX vs. FINVX - Performance Comparison
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Returns By Period
In the year-to-date period, PIIFX achieves a 10.80% return, which is significantly higher than FINVX's 7.50% return. Both investments have delivered pretty close results over the past 10 years, with PIIFX having a 10.63% annualized return and FINVX not far behind at 10.61%.
PIIFX
- 1D
- 0.08%
- 1M
- 4.38%
- YTD
- 10.80%
- 6M
- 14.45%
- 1Y
- 34.38%
- 3Y*
- 20.61%
- 5Y*
- 11.35%
- 10Y*
- 10.63%
FINVX
- 1D
- 0.36%
- 1M
- 2.95%
- YTD
- 7.50%
- 6M
- 11.64%
- 1Y
- 24.85%
- 3Y*
- 22.98%
- 5Y*
- 13.45%
- 10Y*
- 10.61%
PIIFX vs. FINVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIIFX Pioneer International Equity Fund | 10.80% | 42.93% | 4.21% | 19.26% | -13.59% | 13.50% | 12.35% | 20.86% | -17.57% | 27.11% |
FINVX Fidelity Series International Value Fund | 7.50% | 45.75% | 6.20% | 20.35% | -7.21% | 16.39% | 4.87% | 19.85% | -16.40% | 20.41% |
Correlation
The correlation between PIIFX and FINVX is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2009 | 0.94 |
The correlation between PIIFX and FINVX has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.
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Return for Risk
PIIFX vs. FINVX — Risk / Return Rank
PIIFX
FINVX
PIIFX vs. FINVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer International Equity Fund (PIIFX) and Fidelity Series International Value Fund (FINVX). 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.
| PIIFX | FINVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.29 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.31 | +0.30 |
| Martin ratioReturn relative to average drawdown | 9.97 | 8.58 | +1.39 |
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
| PIIFX | FINVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.62 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.81 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.59 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.37 | -0.05 |
Drawdowns
PIIFX vs. FINVX - Drawdown Comparison
The maximum PIIFX drawdown since its inception was -62.36%, which is greater than FINVX's maximum drawdown of -42.48%. Use the drawdown chart below to compare losses from any high point for PIIFX and FINVX.
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Drawdown Indicators
| PIIFX | FINVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.36% | -42.48% | -19.88% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -10.38% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -14.98% | -14.60% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -29.27% | -27.13% | -2.14% |
Max Drawdown (10Y)Largest decline over 10 years | -37.30% | -42.48% | +5.18% |
Current DrawdownCurrent decline from peak | -0.21% | -1.12% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -19.51% | -9.04% | -10.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 2.79% | +0.61% |
Volatility
PIIFX vs. FINVX - Volatility Comparison
Pioneer International Equity Fund (PIIFX) has a higher volatility of 5.58% compared to Fidelity Series International Value Fund (FINVX) at 4.80%. This indicates that PIIFX's price experiences larger fluctuations and is considered to be riskier than FINVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIIFX | FINVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.58% | 4.80% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 11.94% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 14.84% | +1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.35% | 16.71% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 18.06% | -1.55% |
PIIFX vs. FINVX - Expense Ratio Comparison
PIIFX has a 1.15% expense ratio, which is higher than FINVX's 0.01% expense ratio.
Dividends
PIIFX vs. FINVX - Dividend Comparison
PIIFX's dividend yield for the trailing twelve months is around 3.96%, less than FINVX's 10.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FINVX Fidelity Series International Value Fund | 10.42% | 11.20% | 4.14% | 3.29% | 3.33% | 5.01% | 2.83% | 4.05% | 4.05% | 3.14% | 2.62% | 2.14% |
PIIFX Pioneer International Equity Fund | 3.96% | 4.39% | 1.85% | 1.69% | 3.85% | 13.21% | 0.18% | 2.16% | 6.64% | 1.82% | 0.89% | 1.64% |
Frequently Asked Questions
PIIFX and FINVX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIIFX has higher volatility (5.58%) compared to FINVX (4.80%). In terms of maximum drawdown, PIIFX dropped -62.36% vs FINVX's -42.48%.
PIIFX currently has the higher Sharpe Ratio (2.08 vs 1.62), 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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