VINEX vs. FIQIX

Last updated Jun 4, 2026

VINEX (Vanguard International Explorer Fund) and FIQIX (Fidelity Advisor International Small Cap Fund Class Z) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, VINEX returned 3.39%/yr vs 6.41%/yr for FIQIX. Their correlation of 0.93 suggests significant overlap in exposure. VINEX charges 0.40%/yr vs 0.89%/yr for FIQIX.

Performance

VINEX vs. FIQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard International Explorer Fund (VINEX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with VINEX having a 10.34% return and FIQIX slightly lower at 10.24%.

VINEX

• 1D: -0.05%
• 1M: 2.68%
• YTD: 10.34%
• 6M: 11.80%
• 1Y: 21.62%
• 3Y*: 14.17%
• 5Y*: 3.39%
• 10Y*: 6.34%

FIQIX

• 1D: -0.37%
• 1M: 3.45%
• YTD: 10.24%
• 6M: 12.19%
• 1Y: 19.04%
• 3Y*: 14.55%
• 5Y*: 6.41%
• 10Y*: —

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

VINEX vs. FIQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VINEX Vanguard International Explorer Fund	10.34%	27.98%	0.11%	15.26%	-27.56%	9.52%	15.07%	21.90%	-12.50%
FIQIX Fidelity Advisor International Small Cap Fund Class Z	10.24%	24.80%	0.14%	19.76%	-16.53%	13.56%	10.12%	21.61%	-7.47%

Correlation

The correlation between VINEX and FIQIX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.93

The correlation between VINEX and FIQIX has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

VINEX vs. FIQIX — Risk / Return Rank

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

VINEX

VINEX Risk / Return Rank: 25
VINEX Sharpe Ratio Rank: 25
VINEX Sortino Ratio Rank: 26
VINEX Omega Ratio Rank: 26
VINEX Calmar Ratio Rank: 21
VINEX Martin Ratio Rank: 27

FIQIX

FIQIX Risk / Return Rank: 27
FIQIX Sharpe Ratio Rank: 29
FIQIX Sortino Ratio Rank: 29
FIQIX Omega Ratio Rank: 31
FIQIX Calmar Ratio Rank: 22
FIQIX Martin Ratio Rank: 26

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.

VINEX vs. FIQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard International Explorer Fund (VINEX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). 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.

	VINEX	FIQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.53	-0.10
Sortino ratio: Return per unit of downside risk	2.10	2.22	-0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	1.70	1.75	-0.05
Martin ratio: Return relative to average drawdown	6.53	6.26	+0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VINEX vs. FIQIX - Sharpe Ratio Comparison

The current VINEX Sharpe Ratio is 1.44, which is comparable to the FIQIX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of VINEX and FIQIX, 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

	VINEX	FIQIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.53	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.47	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.60	-0.11

Drawdowns

VINEX vs. FIQIX - Drawdown Comparison

The maximum VINEX drawdown since its inception was -62.16%, which is greater than FIQIX's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for VINEX and FIQIX.

Drawdown Indicators

	VINEX	FIQIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.16%	-36.61%	-25.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.32%	-10.72%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-16.72%	-12.65%	-4.07%
Max Drawdown (5Y) Largest decline over 5 years	-42.24%	-30.95%	-11.29%
Max Drawdown (10Y) Largest decline over 10 years	-45.46%	—	—
Current Drawdown Current decline from peak	-1.03%	-1.07%	+0.04%
Average Drawdown Average peak-to-trough decline	-17.22%	-6.77%	-10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.98%	+0.22%

Volatility

VINEX vs. FIQIX - Volatility Comparison

Vanguard International Explorer Fund (VINEX) has a higher volatility of 4.01% compared to Fidelity Advisor International Small Cap Fund Class Z (FIQIX) at 3.81%. This indicates that VINEX's price experiences larger fluctuations and is considered to be riskier than FIQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINEX	FIQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	3.81%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	10.15%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	12.23%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	13.56%	+3.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.22%	15.15%	+2.07%

VINEX vs. FIQIX - Expense Ratio Comparison

VINEX has a 0.40% expense ratio, which is lower than FIQIX's 0.89% expense ratio.

Dividends

VINEX vs. FIQIX - Dividend Comparison

VINEX's dividend yield for the trailing twelve months is around 3.80%, more than FIQIX's 3.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQIX Fidelity Advisor International Small Cap Fund Class Z	3.34%	3.68%	2.73%	1.99%	0.83%	7.39%	0.93%	2.47%	6.33%	0.00%	0.00%	0.00%
VINEX Vanguard International Explorer Fund	3.80%	4.19%	4.17%	2.47%	1.74%	4.80%	1.06%	2.51%	8.75%	4.22%	1.95%	5.45%

Frequently Asked Questions

Can I hold both VINEX and FIQIX in my portfolio?

With a correlation of 0.92, VINEX and FIQIX 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, VINEX or FIQIX?

VINEX has higher volatility (4.01%) compared to FIQIX (3.81%). In terms of maximum drawdown, VINEX dropped -62.16% vs FIQIX's -36.61%.

Which has better risk-adjusted returns?

FIQIX currently has the higher Sharpe Ratio (1.53 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.