PQDMX vs. FSGEX

Last updated Jun 4, 2026

PQDMX (PGIM Quant Solutions International Developed Markets Index Fund) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, PQDMX returned 7.89%/yr vs 9.06%/yr for FSGEX. With a 0.96 correlation, they move nearly in lockstep. PQDMX charges 0.31%/yr vs 0.01%/yr for FSGEX.

Performance

PQDMX vs. FSGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Quant Solutions International Developed Markets Index Fund (PQDMX) 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, PQDMX achieves a 9.29% return, which is significantly lower than FSGEX's 15.85% return.

PQDMX

• 1D: 0.33%
• 1M: 4.14%
• YTD: 9.29%
• 6M: 11.75%
• 1Y: 21.94%
• 3Y*: 16.47%
• 5Y*: 7.89%
• 10Y*: —

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)

PQDMX vs. FSGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQDMX PGIM Quant Solutions International Developed Markets Index Fund	9.29%	31.21%	2.93%	17.76%	-15.26%	9.28%	10.24%	21.11%	-13.70%	24.61%
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%	26.75%

Correlation

The correlation between PQDMX and FSGEX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.96

The correlation between PQDMX and FSGEX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

PQDMX vs. FSGEX — Risk / Return Rank

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

PQDMX

PQDMX Risk / Return Rank: 25
PQDMX Sharpe Ratio Rank: 23
PQDMX Sortino Ratio Rank: 23
PQDMX Omega Ratio Rank: 23
PQDMX Calmar Ratio Rank: 25
PQDMX Martin Ratio Rank: 30

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.

PQDMX vs. FSGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Quant Solutions International Developed Markets Index Fund (PQDMX) 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.

	PQDMX	FSGEX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.31	-0.91
Sortino ratio: Return per unit of downside risk	2.01	3.13	-1.12
Omega ratio: Gain probability vs. loss probability	1.25	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	1.85	2.98	-1.13
Martin ratio: Return relative to average drawdown	6.92	11.69	-4.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQDMX vs. FSGEX - Sharpe Ratio Comparison

The current PQDMX Sharpe Ratio is 1.40, which is lower than the FSGEX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of PQDMX 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

	PQDMX	FSGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	2.31	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.59	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.42	+0.16

Drawdowns

PQDMX vs. FSGEX - Drawdown Comparison

The maximum PQDMX drawdown since its inception was -34.63%, roughly equal to the maximum FSGEX drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for PQDMX and FSGEX.

Drawdown Indicators

	PQDMX	FSGEX	Difference
Max Drawdown Largest peak-to-trough decline	-34.63%	-34.74%	+0.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-11.24%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-13.34%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-30.45%	-29.66%	-0.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.74%	—
Current Drawdown Current decline from peak	-0.60%	0.00%	-0.60%
Average Drawdown Average peak-to-trough decline	-6.94%	-8.45%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.86%	+0.18%

Volatility

PQDMX vs. FSGEX - Volatility Comparison

The current volatility for PGIM Quant Solutions International Developed Markets Index Fund (PQDMX) is 4.70%, while Fidelity Series Global ex U.S. Index Fund (FSGEX) has a volatility of 4.95%. This indicates that PQDMX experiences smaller price fluctuations and is considered to be less risky than FSGEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQDMX	FSGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	4.95%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	12.28%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	14.56%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	15.40%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.15%	16.22%	-0.07%

PQDMX vs. FSGEX - Expense Ratio Comparison

PQDMX has a 0.31% expense ratio, which is higher than FSGEX's 0.01% expense ratio.

Dividends

PQDMX vs. FSGEX - Dividend Comparison

PQDMX's dividend yield for the trailing twelve months is around 3.13%, more 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%
PQDMX PGIM Quant Solutions International Developed Markets Index Fund	3.13%	3.42%	4.76%	3.00%	2.45%	3.31%	1.54%	2.63%	2.66%	2.46%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQDMX and FSGEX in my portfolio?

With a correlation of 0.95, PQDMX 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, PQDMX or FSGEX?

FSGEX has higher volatility (4.95%) compared to PQDMX (4.70%). In terms of maximum drawdown, PQDMX dropped -34.63% vs FSGEX's -34.74%.

Which has better risk-adjusted returns?

FSGEX currently has the higher Sharpe Ratio (2.31 vs 1.40), 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.