FSPSX vs. VTMGX: Fidelity International Index Fund or Vanguard Developed Markets I?
Figures last verified October 31, 2026
Developed-international index funds, Fidelity versus Vanguard. Both skip emerging markets; the wrinkle is small-cap coverage and a one-basis-point fee gap.
| FSPSX | VTMGX | |
|---|---|---|
| Fund | Fidelity International Index Fund | Vanguard Developed Markets Index Fund Admiral Shares |
| Family | Fidelity | Vanguard |
| Category | International | International |
| Type | Index | Index |
| Expense ratio | 0.035% | 0.08% |
| Cost per $10k/yr | $3.50 | $8 |
| Minimum | $0 | $3,000 |
| Strategy | Tracks the MSCI EAFE Index — large and mid-cap stocks in developed markets (Europe, Australasia, Far East). | Tracks the FTSE Developed All Cap ex US Index — Europe, Japan, and other developed markets, excluding emerging markets. |
FSPSX (0.035%, MSCI EAFE, large/mid only) is cheaper; VTMGX (0.08%) adds developed small caps for slightly more. The coverage difference is minor and the cost difference is trivial. As ever, hold the one your brokerage offers without friction.
About FSPSX
FSPSX tracks MSCI EAFE — the oldest, most-quoted international benchmark — which means developed markets only: no China, no India, no emerging markets, and no Canada either, a quirk of the index's 1969 design. Around 700 large and mid caps from Japan, the UK, and continental Europe at 0.035%.
About VTMGX
VTMGX is total-international minus the emerging markets: Japan, the UK, Europe, Canada, Australia, and the rest of the developed world, about 4,000 stocks at 0.08%. Investors choose it over VTIAX either because they're skeptical of emerging markets' governance and volatility, or because they want to size the EM allocation separately with a dedicated fund.
Whichever you pick, the principle is the same one that runs through this whole site: minimize cost, hold for decades, ignore the noise. See how both stack up against the field in our best index funds by category, or run the numbers yourself with the expense ratio calculator.
Expense ratios and minimums drawn from fund provider documentation; last verified October 31, 2026. Editorial opinion, not investment advice. Confirm figures against the official prospectus before investing.