SSAIX vs. FSGEX

Last updated Jun 5, 2026

SSAIX (State Street International Stock Selection Fund) and FSGEX (Fidelity Series Global ex U.S. Index Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, SSAIX returned 8.19%/yr vs 9.86%/yr for FSGEX. Their correlation of 0.90 suggests significant overlap in exposure. SSAIX charges 1.00%/yr vs 0.01%/yr for FSGEX.

Performance

SSAIX vs. FSGEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street International Stock Selection Fund (SSAIX) 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, SSAIX achieves a 10.61% return, which is significantly lower than FSGEX's 14.81% return. Over the past 10 years, SSAIX has underperformed FSGEX with an annualized return of 8.19%, while FSGEX has yielded a comparatively higher 9.86% annualized return.

SSAIX

• 1D: 0.13%
• 1M: 3.06%
• YTD: 10.61%
• 6M: 3.53%
• 1Y: 20.46%
• 3Y*: 19.66%
• 5Y*: 9.21%
• 10Y*: 8.19%

FSGEX

• 1D: -0.90%
• 1M: 4.06%
• YTD: 14.81%
• 6M: 17.29%
• 1Y: 31.94%
• 3Y*: 19.80%
• 5Y*: 8.70%
• 10Y*: 9.86%

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

SSAIX vs. FSGEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSAIX State Street International Stock Selection Fund	10.61%	31.50%	7.90%	17.53%	-13.60%	12.77%	2.88%	16.78%	-17.69%	22.21%
FSGEX Fidelity Series Global ex U.S. Index Fund	14.81%	32.99%	5.34%	15.56%	-15.75%	7.77%	10.75%	21.41%	-13.99%	27.47%

Correlation

The correlation between SSAIX and FSGEX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009	0.90

Over the past year, the correlation between SSAIX and FSGEX has dropped to 0.65 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

SSAIX vs. FSGEX — Risk / Return Rank

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

SSAIX

SSAIX Risk / Return Rank: 30
SSAIX Sharpe Ratio Rank: 26
SSAIX Sortino Ratio Rank: 19
SSAIX Omega Ratio Rank: 34
SSAIX Calmar Ratio Rank: 41
SSAIX Martin Ratio Rank: 29

FSGEX

FSGEX Risk / Return Rank: 57
FSGEX Sharpe Ratio Rank: 58
FSGEX Sortino Ratio Rank: 53
FSGEX Omega Ratio Rank: 57
FSGEX Calmar Ratio Rank: 59
FSGEX Martin Ratio Rank: 57

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.

SSAIX vs. FSGEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street International Stock Selection Fund (SSAIX) 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.

	SSAIX	FSGEX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.26	-0.82
Sortino ratio: Return per unit of downside risk	1.82	3.07	-1.25
Omega ratio: Gain probability vs. loss probability	1.30	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.40	2.93	-0.53
Martin ratio: Return relative to average drawdown	6.72	11.47	-4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSAIX vs. FSGEX - Sharpe Ratio Comparison

The current SSAIX Sharpe Ratio is 1.44, which is lower than the FSGEX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of SSAIX 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

	SSAIX	FSGEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	2.26	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.57	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.61	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.41	-0.13

Drawdowns

SSAIX vs. FSGEX - Drawdown Comparison

The maximum SSAIX drawdown since its inception was -61.30%, which is greater than FSGEX's maximum drawdown of -34.74%. Use the drawdown chart below to compare losses from any high point for SSAIX and FSGEX.

Drawdown Indicators

	SSAIX	FSGEX	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-34.74%	-26.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.98%	-11.24%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.00%	-13.34%	+0.34%
Max Drawdown (5Y) Largest decline over 5 years	-29.25%	-29.66%	+0.41%
Max Drawdown (10Y) Largest decline over 10 years	-41.34%	-34.74%	-6.60%
Current Drawdown Current decline from peak	-1.74%	-0.90%	-0.84%
Average Drawdown Average peak-to-trough decline	-15.82%	-8.44%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	2.86%	+1.01%

Volatility

SSAIX vs. FSGEX - Volatility Comparison

State Street International Stock Selection Fund (SSAIX) and Fidelity Series Global ex U.S. Index Fund (FSGEX) have volatilities of 4.82% and 5.04%, 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

	SSAIX	FSGEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	5.04%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	15.51%	12.31%	+3.20%
Volatility (1Y) Calculated over the trailing 1-year period	18.27%	14.57%	+3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	15.40%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	16.22%	+0.83%

SSAIX vs. FSGEX - Expense Ratio Comparison

SSAIX has a 1.00% expense ratio, which is higher than FSGEX's 0.01% expense ratio.

Dividends

SSAIX vs. FSGEX - Dividend Comparison

SSAIX has not paid dividends to shareholders, while FSGEX's dividend yield for the trailing twelve months is around 2.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSGEX Fidelity Series Global ex U.S. Index Fund	2.63%	3.02%	2.98%	2.90%	2.78%	2.59%	1.68%	2.10%	2.86%	2.48%	2.56%	2.61%
SSAIX State Street International Stock Selection Fund	0.00%	0.00%	3.64%	5.68%	3.47%	4.55%	1.88%	3.34%	5.99%	3.63%	2.74%	2.55%

Frequently Asked Questions

Can I hold both SSAIX and FSGEX in my portfolio?

SSAIX and FSGEX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSAIX or FSGEX?

FSGEX has higher volatility (5.04%) compared to SSAIX (4.82%). In terms of maximum drawdown, SSAIX dropped -61.30% vs FSGEX's -34.74%.

Which has better risk-adjusted returns?

FSGEX currently has the higher Sharpe Ratio (2.26 vs 1.44), 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.