VXUS vs. FZILX

Last updated Jun 5, 2026

VXUS (Vanguard Total International Stock ETF) and FZILX (Fidelity ZERO International Index Fund) are both funds - VXUS is a Global Equities fund tracking the FTSE Global All Cap ex US Index, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Both are passively managed. Over the past 5 years, VXUS returned 8.49%/yr vs 9.06%/yr for FZILX. With a 0.98 correlation, they move nearly in lockstep. VXUS charges 0.05%/yr vs 0.00%/yr for FZILX.

Performance

VXUS vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Stock ETF (VXUS) and Fidelity ZERO International Index Fund (FZILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VXUS achieves a 14.45% return, which is significantly lower than FZILX's 15.27% return.

VXUS

• 1D: 0.17%
• 1M: 3.40%
• YTD: 14.45%
• 6M: 16.87%
• 1Y: 31.38%
• 3Y*: 19.55%
• 5Y*: 8.49%
• 10Y*: 9.69%

FZILX

• 1D: -0.88%
• 1M: 4.11%
• YTD: 15.27%
• 6M: 17.75%
• 1Y: 32.61%
• 3Y*: 20.27%
• 5Y*: 9.06%
• 10Y*: —

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

VXUS vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
VXUS Vanguard Total International Stock ETF	14.45%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-9.44%
FZILX Fidelity ZERO International Index Fund	15.27%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between VXUS and FZILX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Aug 17, 2018	0.98

The correlation between VXUS and FZILX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

VXUS vs. FZILX — Risk / Return Rank

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

VXUS

VXUS Risk / Return Rank: 62
VXUS Sharpe Ratio Rank: 63
VXUS Sortino Ratio Rank: 62
VXUS Omega Ratio Rank: 64
VXUS Calmar Ratio Rank: 58
VXUS Martin Ratio Rank: 62

FZILX

FZILX Risk / Return Rank: 58
FZILX Sharpe Ratio Rank: 60
FZILX Sortino Ratio Rank: 55
FZILX Omega Ratio Rank: 58
FZILX Calmar Ratio Rank: 60
FZILX Martin Ratio Rank: 58

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.

VXUS vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) and Fidelity ZERO International Index Fund (FZILX). 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.

	VXUS	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.30	-0.22
Sortino ratio: Return per unit of downside risk	2.85	3.12	-0.27
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.80	2.99	-0.19
Martin ratio: Return relative to average drawdown	10.92	11.71	-0.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VXUS vs. FZILX - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 2.08, which is comparable to the FZILX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of VXUS and FZILX, 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

	VXUS	FZILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	2.30	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.59	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.58	-0.19

Drawdowns

VXUS vs. FZILX - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, roughly equal to the maximum FZILX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for VXUS and FZILX.

Drawdown Indicators

	VXUS	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-34.37%	-1.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-11.24%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-13.47%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-29.87%	+0.43%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	—	—
Current Drawdown Current decline from peak	-0.82%	-0.88%	+0.06%
Average Drawdown Average peak-to-trough decline	-8.22%	-6.69%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	2.86%	+0.02%

Volatility

VXUS vs. FZILX - Volatility Comparison

Vanguard Total International Stock ETF (VXUS) has a higher volatility of 5.46% compared to Fidelity ZERO International Index Fund (FZILX) at 5.04%. This indicates that VXUS's price experiences larger fluctuations and is considered to be riskier than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VXUS	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	5.04%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	12.29%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.20%	14.64%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	15.53%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	17.32%	-0.17%

VXUS vs. FZILX - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is higher than FZILX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VXUS vs. FZILX - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.65%, more than FZILX's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZILX Fidelity ZERO International Index Fund	2.32%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%	0.00%	0.00%
VXUS Vanguard Total International Stock ETF	2.65%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VXUS and FZILX in my portfolio?

With a correlation of 0.99, VXUS and FZILX 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, VXUS or FZILX?

VXUS has higher volatility (5.46%) compared to FZILX (5.04%). In terms of maximum drawdown, VXUS dropped -35.97% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (2.30 vs 2.08), 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.