VTIVX vs. FDIVX

Last updated Jun 9, 2026

VTIVX (Vanguard Target Retirement 2045 Fund) and FDIVX (Fidelity Diversified International Fund) are both mutual funds - VTIVX is a Target Retirement Date fund managed by Vanguard, while FDIVX is a Foreign Large Cap Equities fund managed by Fidelity. Over the past 10 years, VTIVX returned 10.91%/yr vs 8.80%/yr for FDIVX. Their correlation of 0.87 suggests significant overlap in exposure. VTIVX charges 0.08%/yr vs 1.01%/yr for FDIVX.

Performance

VTIVX vs. FDIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2045 Fund (VTIVX) and Fidelity Diversified International Fund (FDIVX). 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 VTIVX having a 7.80% return and FDIVX slightly lower at 7.71%. Over the past 10 years, VTIVX has outperformed FDIVX with an annualized return of 10.91%, while FDIVX has yielded a comparatively lower 8.80% annualized return.

VTIVX

• 1D: -2.58%
• 1M: -0.77%
• YTD: 7.80%
• 6M: 8.61%
• 1Y: 21.54%
• 3Y*: 17.21%
• 5Y*: 8.80%
• 10Y*: 10.91%

FDIVX

• 1D: -3.73%
• 1M: -1.89%
• YTD: 7.71%
• 6M: 9.86%
• 1Y: 17.46%
• 3Y*: 15.46%
• 5Y*: 6.71%
• 10Y*: 8.80%

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

VTIVX vs. FDIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTIVX Vanguard Target Retirement 2045 Fund	7.80%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%
FDIVX Fidelity Diversified International Fund	7.71%	27.75%	6.54%	17.74%	-23.86%	12.79%	18.91%	29.72%	-15.31%	25.31%

Correlation

The correlation between VTIVX and FDIVX 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	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 27, 2003	0.87

The correlation between VTIVX and FDIVX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

VTIVX vs. FDIVX — Risk / Return Rank

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

VTIVX

VTIVX Risk / Return Rank: 53
VTIVX Sharpe Ratio Rank: 52
VTIVX Sortino Ratio Rank: 48
VTIVX Omega Ratio Rank: 51
VTIVX Calmar Ratio Rank: 53
VTIVX Martin Ratio Rank: 62

FDIVX

FDIVX Risk / Return Rank: 18
FDIVX Sharpe Ratio Rank: 15
FDIVX Sortino Ratio Rank: 15
FDIVX Omega Ratio Rank: 16
FDIVX Calmar Ratio Rank: 19
FDIVX Martin Ratio Rank: 24

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.

VTIVX vs. FDIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2045 Fund (VTIVX) and Fidelity Diversified International Fund (FDIVX). 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.

	VTIVX	FDIVX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.04	+1.02
Sortino ratio: Return per unit of downside risk	2.83	1.54	+1.29
Omega ratio: Gain probability vs. loss probability	1.38	1.19	+0.18
Calmar ratio: Return relative to maximum drawdown	2.69	1.45	+1.24
Martin ratio: Return relative to average drawdown	11.85	5.65	+6.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTIVX vs. FDIVX - Sharpe Ratio Comparison

The current VTIVX Sharpe Ratio is 2.06, which is higher than the FDIVX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of VTIVX and FDIVX, 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

	VTIVX	FDIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.04	+1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.39	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.52	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.49	+0.05

Drawdowns

VTIVX vs. FDIVX - Drawdown Comparison

The maximum VTIVX drawdown since its inception was -51.69%, smaller than the maximum FDIVX drawdown of -60.61%. Use the drawdown chart below to compare losses from any high point for VTIVX and FDIVX.

Drawdown Indicators

	VTIVX	FDIVX	Difference
Max Drawdown Largest peak-to-trough decline	-51.69%	-60.61%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-12.38%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-13.40%	-14.63%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.10%	-35.60%	+10.50%
Max Drawdown (10Y) Largest decline over 10 years	-31.42%	-35.60%	+4.18%
Current Drawdown Current decline from peak	-2.95%	-3.73%	+0.78%
Average Drawdown Average peak-to-trough decline	-6.33%	-11.67%	+5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	3.17%	-1.29%

Volatility

VTIVX vs. FDIVX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2045 Fund (VTIVX) is 3.88%, while Fidelity Diversified International Fund (FDIVX) has a volatility of 6.31%. This indicates that VTIVX experiences smaller price fluctuations and is considered to be less risky than FDIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTIVX	FDIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	6.31%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	14.73%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	10.85%	17.24%	-6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.54%	17.19%	-3.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	17.02%	-2.21%

VTIVX vs. FDIVX - Expense Ratio Comparison

VTIVX has a 0.08% expense ratio, which is lower than FDIVX's 1.01% expense ratio.

Dividends

VTIVX vs. FDIVX - Dividend Comparison

VTIVX's dividend yield for the trailing twelve months is around 2.31%, less than FDIVX's 9.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDIVX Fidelity Diversified International Fund	9.92%	10.69%	3.93%	4.29%	1.34%	10.59%	0.97%	1.32%	7.32%	4.22%	1.36%	0.46%
VTIVX Vanguard Target Retirement 2045 Fund	2.31%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both VTIVX and FDIVX in my portfolio?

With a correlation of 0.92, VTIVX and FDIVX 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, VTIVX or FDIVX?

FDIVX has higher volatility (6.31%) compared to VTIVX (3.88%). In terms of maximum drawdown, VTIVX dropped -51.69% vs FDIVX's -60.61%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.06 vs 1.04), 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.