VDIPX vs. FAERX

Last updated Jun 23, 2026

VDIPX (Vanguard Developed Markets Index Fund Institutional Plus Shares) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds. Over the past 10 years, VDIPX returned 10.47%/yr vs 7.06%/yr for FAERX. Their correlation of 0.91 suggests significant overlap in exposure. VDIPX charges 0.04%/yr vs 1.65%/yr for FAERX.

Performance

VDIPX vs. FAERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Developed Markets Index Fund Institutional Plus Shares (VDIPX) and Fidelity Advisor Overseas Fund Class M (FAERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, VDIPX has outperformed FAERX with an annualized return of 10.47%, while FAERX has yielded a comparatively lower 7.06% annualized return.

VDIPX

• 1D: 1.28%
• 1M: 3.03%
• YTD: 16.51%
• 6M: 17.26%
• 1Y: 35.20%
• 3Y*: 19.28%
• 5Y*: 10.54%
• 10Y*: 10.47%

FAERX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.04%
• 3Y*: 7.45%
• 5Y*: 3.31%
• 10Y*: 7.06%

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

VDIPX vs. FAERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VDIPX Vanguard Developed Markets Index Fund Institutional Plus Shares	16.51%	35.15%	3.08%	17.78%	-15.35%	11.45%	10.26%	22.06%	-14.48%	26.48%
FAERX Fidelity Advisor Overseas Fund Class M	0.00%	14.70%	4.40%	19.78%	-24.77%	18.63%	14.43%	27.14%	-15.25%	29.37%

Correlation

The correlation between VDIPX and FAERX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.91

Over the past year, the correlation between VDIPX and FAERX has dropped to 0.54 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

VDIPX vs. FAERX — Risk / Return Rank

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

VDIPX

VDIPX Risk / Return Rank: 61
VDIPX Sharpe Ratio Rank: 64
VDIPX Sortino Ratio Rank: 57
VDIPX Omega Ratio Rank: 60
VDIPX Calmar Ratio Rank: 65
VDIPX Martin Ratio Rank: 60

FAERX

FAERX Risk / Return Rank: 2
FAERX Sharpe Ratio Rank: 2
FAERX Sortino Ratio Rank: 2
FAERX Omega Ratio Rank: 2
FAERX Calmar Ratio Rank: 2
FAERX Martin Ratio Rank: 2

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.

VDIPX vs. FAERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Institutional Plus Shares (VDIPX) and Fidelity Advisor Overseas Fund Class M (FAERX). 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.

	VDIPX	FAERX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	-0.08	+2.24
Sortino ratio: Return per unit of downside risk	2.91	-0.05	+2.96
Omega ratio: Gain probability vs. loss probability	1.39	0.99	+0.40
Calmar ratio: Return relative to maximum drawdown	2.95	-0.10	+3.05
Martin ratio: Return relative to average drawdown	11.32	-0.16	+11.48

VDIPX vs. FAERX - Sharpe Ratio Comparison

The current VDIPX Sharpe Ratio is 2.16, which is higher than the FAERX Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of VDIPX and FAERX, 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

VDIPX vs. FAERX - Drawdown Comparison

The maximum VDIPX drawdown since its inception was -35.61%, smaller than the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for VDIPX and FAERX.

Drawdown Indicators

	VDIPX	FAERX	Difference
Max Drawdown Largest peak-to-trough decline	-35.61%	-60.14%	+24.53%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-7.29%	-4.38%
Max Drawdown (3Y) Largest decline over 3 years	-13.15%	-14.00%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-29.69%	-36.62%	+6.93%
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	-36.62%	+1.01%
Current Drawdown Current decline from peak	0.00%	-5.89%	+5.89%
Average Drawdown Average peak-to-trough decline	-7.18%	-14.36%	+7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	4.16%	-1.12%

Volatility

VDIPX vs. FAERX - Volatility Comparison

Vanguard Developed Markets Index Fund Institutional Plus Shares (VDIPX) has a higher volatility of 6.33% compared to Fidelity Advisor Overseas Fund Class M (FAERX) at 0.00%. This indicates that VDIPX's price experiences larger fluctuations and is considered to be riskier than FAERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDIPX	FAERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	0.00%	+6.33%
Volatility (6M) Calculated over the trailing 6-month period	13.67%	3.62%	+10.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.96%	8.78%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	16.72%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	16.64%	-0.06%

VDIPX vs. FAERX - Expense Ratio Comparison

VDIPX has a 0.04% expense ratio, which is lower than FAERX's 1.65% expense ratio.

Dividends

VDIPX vs. FAERX - Dividend Comparison

VDIPX's dividend yield for the trailing twelve months is around 2.52%, less than FAERX's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAERX Fidelity Advisor Overseas Fund Class M	7.94%	7.94%	0.96%	0.51%	0.12%	2.07%	0.00%	1.15%	4.25%	3.35%	0.80%	0.09%
VDIPX Vanguard Developed Markets Index Fund Institutional Plus Shares	2.52%	3.23%	3.37%	3.16%	2.92%	3.17%	2.05%	3.05%	3.36%	2.79%	3.08%	2.95%

Frequently Asked Questions

Can I hold both VDIPX and FAERX in my portfolio?

VDIPX and FAERX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VDIPX or FAERX?

VDIPX has higher volatility (6.33%) compared to FAERX (0.00%). In terms of maximum drawdown, VDIPX dropped -35.61% vs FAERX's -60.14%.

Which has better risk-adjusted returns?

VDIPX currently has the higher Sharpe Ratio (2.16 vs -0.08), 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.