VFWSX vs. FAOIX
VFWSX (Vanguard FTSE All-World ex-US Index Fund Institutional Shares) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 10 years, VFWSX returned 9.66%/yr vs 7.63%/yr for FAOIX. Their correlation of 0.92 means they have usually moved in the same direction. VFWSX charges 0.08%/yr vs 1.12%/yr for FAOIX.
Performance
VFWSX vs. FAOIX - Performance Comparison
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Returns By Period
Over the past 10 years, VFWSX has outperformed FAOIX with an annualized return of 9.66%, while FAOIX has yielded a comparatively lower 7.63% annualized return.
VFWSX
- 1D
- 0.09%
- 1M
- 0.42%
- 6M
- 7.12%
- YTD
- 13.59%
- 1Y
- 28.96%
- 3Y*
- 17.63%
- 5Y*
- 9.22%
- 10Y*
- 9.66%
- ALL TIME*
- 5.43%
FAOIX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.26%
- 3Y*
- 7.86%
- 5Y*
- 2.74%
- 10Y*
- 7.63%
- ALL TIME*
- 5.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VFWSX vs. FAOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares | 13.59% | 32.38% | 5.45% | 15.59% | -15.48% | 8.11% | 11.37% | 21.58% | -13.97% | 27.24% |
FAOIX Fidelity Advisor Overseas Fund Class I | 0.00% | 15.25% | 4.92% | 20.35% | -24.38% | 19.23% | 15.08% | 27.82% | -14.85% | 30.05% |
Correlation
The correlation between VFWSX and FAOIX is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2007 | 0.92 |
Over the past year, the correlation between VFWSX and FAOIX has dropped to 0.42 - well below their long-term average of 0.92, suggesting their price drivers have been diverging.
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Return for Risk
VFWSX vs. FAOIX — Risk / Return Rank
VFWSX
FAOIX
VFWSX vs. FAOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) and Fidelity Advisor Overseas Fund Class I (FAOIX). 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.
| VFWSX | FAOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 0.93 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | -0.32 | +2.85 |
| Martin ratioReturn relative to average drawdown | 9.35 | -0.49 | +9.84 |
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Drawdowns
VFWSX vs. FAOIX - Drawdown Comparison
The maximum VFWSX drawdown since its inception was -61.60%, roughly equal to the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for VFWSX and FAOIX.
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Drawdown Indicators
| VFWSX | FAOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.60% | -59.86% | -1.74% |
Max Drawdown (1Y)Largest decline over 1 year | -11.34% | -7.28% | -4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -13.26% | -13.98% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -29.17% | -36.33% | +7.16% |
Max Drawdown (10Y)Largest decline over 10 years | -34.87% | -36.33% | +1.46% |
Current DrawdownCurrent decline from peak | -2.38% | -5.85% | +3.47% |
Average DrawdownAverage peak-to-trough decline | -13.15% | -14.17% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 4.48% | -1.43% |
Volatility
VFWSX vs. FAOIX - Volatility Comparison
Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) has a higher volatility of 5.28% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that VFWSX's price experiences larger fluctuations and is considered to be riskier than FAOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFWSX | FAOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 0.00% | +5.28% |
Volatility (6M)Calculated over the trailing 6-month period | 14.32% | 0.00% | +14.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 7.69% | +8.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 16.67% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.98% | 16.29% | -0.31% |
VFWSX vs. FAOIX - Expense Ratio Comparison
VFWSX has a 0.08% expense ratio, which is lower than FAOIX's 1.12% expense ratio.
Dividends
VFWSX vs. FAOIX - Dividend Comparison
VFWSX's dividend yield for the trailing twelve months is around 2.54%, less than FAOIX's 8.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAOIX Fidelity Advisor Overseas Fund Class I | 8.49% | 8.49% | 1.66% | 0.96% | 0.63% | 2.06% | 0.00% | 1.35% | 5.09% | 3.79% | 1.49% | 0.63% |
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares | 2.54% | 3.08% | 3.23% | 3.31% | 3.10% | 3.06% | 1.99% | 3.10% | 3.28% | 2.67% | 2.97% | 2.97% |
Frequently Asked Questions
VFWSX and FAOIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFWSX has higher volatility (5.28%) compared to FAOIX (0.00%). In terms of maximum drawdown, VFWSX dropped -61.60% vs FAOIX's -59.86%.
VFWSX currently has the higher Sharpe Ratio (1.77 vs -0.31), 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.
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