PPYPX vs. FISZX

Last updated Aug 1, 2026

PPYPX (PIMCO RAE International Fund) and FISZX (Fidelity SAI International SMA Completion Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, PPYPX returned 10.37%/yr vs 7.02%/yr for FISZX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PPYPX charges 0.60%/yr vs 0.00%/yr for FISZX.

Performance

PPYPX vs. FISZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE International Fund (PPYPX) and Fidelity SAI International SMA Completion Fund (FISZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPYPX achieves a 18.86% return, which is significantly lower than FISZX's 20.57% return.

PPYPX

• 1D: 1.05%
• 1M: 6.65%
• 6M: 10.66%
• YTD: 18.86%
• 1Y: 31.14%
• 3Y*: 16.73%
• 5Y*: 10.37%
• 10Y*: 9.42%
• ALL TIME*: 9.22%

FISZX

• 1D: 3.18%
• 1M: -4.52%
• 6M: 12.37%
• YTD: 20.57%
• 1Y: 36.21%
• 3Y*: 19.22%
• 5Y*: 7.02%
• 10Y*: —
• ALL TIME*: 10.72%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FISZX Fidelity SAI International SMA Completion Fund	$0.00	$0.00	$0.00
PPYPX PIMCO RAE International Fund	$0.00	$0.00	$0.00

PPYPX vs. FISZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PPYPX PIMCO RAE International Fund	18.86%	31.34%	-1.15%	18.13%	-8.73%	10.68%	2.05%	5.81%
FISZX Fidelity SAI International SMA Completion Fund	20.57%	31.77%	3.61%	15.83%	-28.32%	9.91%	23.49%	13.42%

Correlation

The correlation between PPYPX and FISZX is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Apr 11, 2019	0.76

The correlation between PPYPX and FISZX shifts across timeframes, from 0.60 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PPYPX vs. FISZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PPYPX

PPYPX Risk / Return Rank: 90
PPYPX Sharpe Ratio Rank: 93
PPYPX Sortino Ratio Rank: 88
PPYPX Omega Ratio Rank: 86
PPYPX Calmar Ratio Rank: 95
PPYPX Martin Ratio Rank: 90

FISZX

FISZX Risk / Return Rank: 66
FISZX Sharpe Ratio Rank: 66
FISZX Sortino Ratio Rank: 60
FISZX Omega Ratio Rank: 66
FISZX Calmar Ratio Rank: 74
FISZX Martin Ratio Rank: 65

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PPYPX vs. FISZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE International Fund (PPYPX) and Fidelity SAI International SMA Completion Fund (FISZX). 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.

	PPYPX	FISZX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	1.53	+0.88
Sortino ratio: Return per unit of downside risk	3.24	2.09	+1.15
Omega ratio: Gain probability vs. loss probability	1.44	1.28	+0.15
Calmar ratio: Return relative to maximum drawdown	4.18	2.39	+1.79
Martin ratio: Return relative to average drawdown	12.52	8.11	+4.41

PPYPX vs. FISZX - Sharpe Ratio Comparison

The current PPYPX Sharpe Ratio is 2.42, which is higher than the FISZX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of PPYPX and FISZX, 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

PPYPX vs. FISZX - Drawdown Comparison

The maximum PPYPX drawdown since its inception was -42.48%, which is greater than FISZX's maximum drawdown of -39.92%. Use the drawdown chart below to compare losses from any high point for PPYPX and FISZX.

Drawdown Indicators

	PPYPX	FISZX	Difference
Max Drawdown Largest peak-to-trough decline	-42.48%	-39.92%	-2.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-14.48%	+7.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.00%	-14.63%	+0.63%
Max Drawdown (5Y) Largest decline over 5 years	-35.65%	-39.92%	+4.27%
Max Drawdown (10Y) Largest decline over 10 years	-42.48%	—	—
Current Drawdown Current decline from peak	0.00%	-9.06%	+9.06%
Average Drawdown Average peak-to-trough decline	-10.03%	-12.20%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	4.26%	-1.77%

Volatility

PPYPX vs. FISZX - Volatility Comparison

The current volatility for PIMCO RAE International Fund (PPYPX) is 3.54%, while Fidelity SAI International SMA Completion Fund (FISZX) has a volatility of 7.93%. This indicates that PPYPX experiences smaller price fluctuations and is considered to be less risky than FISZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPYPX	FISZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	7.93%	-4.39%
Volatility (6M) Calculated over the trailing 6-month period	9.60%	20.56%	-10.96%
Volatility (1Y) Calculated over the trailing 1-year period	13.01%	22.62%	-9.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	18.72%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	18.73%	-0.04%

PPYPX vs. FISZX - Expense Ratio Comparison

PPYPX has a 0.60% expense ratio, which is higher than FISZX's 0.00% expense ratio.

Dividends

PPYPX vs. FISZX - Dividend Comparison

PPYPX's dividend yield for the trailing twelve months is around 6.54%, more than FISZX's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FISZX Fidelity SAI International SMA Completion Fund	1.60%	1.92%	2.55%	1.89%	1.37%	6.08%	0.90%	0.27%	0.00%	0.00%	0.00%
PPYPX PIMCO RAE International Fund	6.54%	7.78%	6.57%	10.09%	7.20%	27.06%	2.23%	4.20%	5.96%	2.53%	2.41%

Frequently Asked Questions

Can I hold both PPYPX and FISZX in my portfolio?

PPYPX and FISZX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPYPX or FISZX?

FISZX has higher volatility (7.93%) compared to PPYPX (3.54%). In terms of maximum drawdown, PPYPX dropped -42.48% vs FISZX's -39.92%.

Which has better risk-adjusted returns?

PPYPX currently has the higher Sharpe Ratio (2.42 vs 1.53), 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.