SAHMX vs. FSGEX

Last updated Jun 4, 2026

SAHMX (SA International Value Fund) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, SAHMX returned 10.86%/yr vs 9.96%/yr for FSGEX. Their correlation of 0.83 suggests significant overlap in exposure. SAHMX charges 1.11%/yr vs 0.01%/yr for FSGEX.

Performance

SAHMX vs. FSGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SA International Value Fund (SAHMX) 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, SAHMX achieves a 11.49% return, which is significantly lower than FSGEX's 15.85% return. Over the past 10 years, SAHMX has outperformed FSGEX with an annualized return of 10.86%, while FSGEX has yielded a comparatively lower 9.96% annualized return.

SAHMX

• 1D: 0.46%
• 1M: 2.20%
• YTD: 11.49%
• 6M: 15.65%
• 1Y: 34.83%
• 3Y*: 22.94%
• 5Y*: 13.17%
• 10Y*: 10.86%

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)

SAHMX vs. FSGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SAHMX SA International Value Fund	11.49%	44.08%	5.44%	16.49%	-3.70%	17.59%	-2.48%	14.61%	-17.95%	25.06%
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 SAHMX and FSGEX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.83

The correlation between SAHMX and FSGEX shifts across timeframes, from 0.64 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SAHMX vs. FSGEX — Risk / Return Rank

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

SAHMX

SAHMX Risk / Return Rank: 87
SAHMX Sharpe Ratio Rank: 92
SAHMX Sortino Ratio Rank: 89
SAHMX Omega Ratio Rank: 84
SAHMX Calmar Ratio Rank: 88
SAHMX Martin Ratio Rank: 79

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.

SAHMX vs. FSGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SA International Value Fund (SAHMX) 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.

	SAHMX	FSGEX	Difference
Sharpe ratio: Return per unit of total volatility	3.14	2.31	+0.83
Sortino ratio: Return per unit of downside risk	4.32	3.13	+1.19
Omega ratio: Gain probability vs. loss probability	1.57	1.43	+0.15
Calmar ratio: Return relative to maximum drawdown	4.40	2.98	+1.41
Martin ratio: Return relative to average drawdown	14.82	11.69	+3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SAHMX vs. FSGEX - Sharpe Ratio Comparison

The current SAHMX Sharpe Ratio is 3.14, which is higher than the FSGEX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of SAHMX 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

	SAHMX	FSGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	2.31	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.59	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.62	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.42	-0.08

Drawdowns

SAHMX vs. FSGEX - Drawdown Comparison

The maximum SAHMX drawdown since its inception was -66.58%, which is greater than FSGEX's maximum drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for SAHMX and FSGEX.

Drawdown Indicators

	SAHMX	FSGEX	Difference
Max Drawdown Largest peak-to-trough decline	-66.58%	-34.74%	-31.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.72%	-11.24%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-13.34%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-25.10%	-29.66%	+4.56%
Max Drawdown (10Y) Largest decline over 10 years	-48.63%	-34.74%	-13.89%
Current Drawdown Current decline from peak	-1.12%	0.00%	-1.12%
Average Drawdown Average peak-to-trough decline	-16.18%	-8.45%	-7.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.86%	-0.39%

Volatility

SAHMX vs. FSGEX - Volatility Comparison

The current volatility for SA International Value Fund (SAHMX) is 2.81%, while Fidelity Series Global ex U.S. Index Fund (FSGEX) has a volatility of 4.95%. This indicates that SAHMX 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

	SAHMX	FSGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	4.95%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	12.28%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	14.56%	-2.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.49%	15.40%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.45%	16.22%	+0.23%

SAHMX vs. FSGEX - Expense Ratio Comparison

SAHMX has a 1.11% expense ratio, which is higher than FSGEX's 0.01% expense ratio.

Dividends

SAHMX vs. FSGEX - Dividend Comparison

SAHMX's dividend yield for the trailing twelve months is around 4.80%, 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%
SAHMX SA International Value Fund	4.80%	5.35%	3.57%	3.46%	4.06%	3.05%	2.09%	3.66%	1.93%	2.46%	2.89%	1.91%

Frequently Asked Questions

Can I hold both SAHMX and FSGEX in my portfolio?

SAHMX and FSGEX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAHMX or FSGEX?

FSGEX has higher volatility (4.95%) compared to SAHMX (2.81%). In terms of maximum drawdown, SAHMX dropped -66.58% vs FSGEX's -34.74%.

Which has better risk-adjusted returns?

SAHMX currently has the higher Sharpe Ratio (3.14 vs 2.31), 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.