FTIHX is the Fidelity Total International Index Fund, a passively managed mutual fund that tracks the MSCI ACWI ex USA Investable Market Index. It holds approximately 5,500 stocks from countries outside the United States — Europe, Japan, China, emerging markets, and more — giving you broad international diversification in a single fund at a 0.06% annual expense ratio.

What is the FTIHX expense ratio?

FTIHX has an expense ratio of 0.06% per year. On a $10,000 investment, that equals $6 per year in fees. This is among the lowest expense ratios available for a broad international fund. For comparison, actively managed international funds typically charge 0.70%–1.00% per year.

FTIHX vs FZILX — which is better?

FZILX has a 0.00% expense ratio vs FTIHX's 0.06%, but it uses a proprietary Fidelity index and cannot be transferred to another brokerage — you'd have to sell to move. FTIHX can be transferred in-kind. The cost difference is $6 per $10,000 per year. For long-term Roth IRA investors who plan to stay at Fidelity, either works. FTIHX offers more flexibility if your plans change.

FTIHX vs VXUS — which should I choose?

VXUS (Vanguard Total International Stock ETF) covers similar markets with a 0.07% expense ratio — slightly higher than FTIHX's 0.06%. VXUS is an ETF (trades throughout the day); FTIHX is a mutual fund (priced once daily). At Fidelity, FTIHX is the natural choice — same coverage, lower cost, fractional dollar investing, and no bid-ask spread.

Why hold international stocks at all if the U.S. market does well?

U.S. stocks have outperformed international stocks for most of the 2010s and early 2020s — but this isn't guaranteed to continue. There have been long periods (2002–2007, for example) when international stocks significantly outperformed U.S. stocks. Holding both reduces the risk that your entire portfolio depends on one country's economy. A 20% FTIHX allocation provides meaningful diversification without betting against U.S. growth.

What percentage of my portfolio should be FTIHX?

Common allocations range from 20% to 40%. The 80/20 split — 80% FSKAX (U.S.) and 20% FTIHX (international) — is a popular starting point for long-term investors who want meaningful international exposure without tilting heavily away from U.S. growth. Some investors prefer 70/30. There's no single right answer; what matters more is picking an allocation you'll stick with and rebalancing annually.

FTIHX Explained: Fidelity Total International Index Fund (2026)

Last updated: May 18, 2026 · By Miguel Garcia

The Short Answer

FTIHX is the Fidelity Total International Index Fund — a single fund that holds approximately 5,500 stocks from over 50 countries outside the United States, tracking the MSCI ACWI ex USA Investable Market Index at a 0.06% annual expense ratio. For ITIN holders using a Fidelity Roth IRA, FTIHX is the 20% international complement to FSKAX in the standard two-fund index fund portfolio.

0.06% Annual expense ratio
(= $6 per $10,000)

~5,500 International stocks held
(50+ countries)

$0 Minimum investment
in a Fidelity IRA

What Is FTIHX?

FTIHX — the Fidelity Total International Index Fund — is a passively managed mutual fund that tracks the MSCI ACWI ex USA Investable Market Index. "ACWI" stands for All Country World Index, and "ex USA" means it holds every country except the United States. That makes it the exact complement to FSKAX: together they cover the entire global stock market.

The fund holds stocks across the full market-cap spectrum in each country: large internationally known companies (Samsung, Nestlé, ASML, Alibaba), mid-caps, and small-cap companies in both developed markets (Europe, Japan, Australia) and emerging markets (India, Brazil, Taiwan, South Korea, Mexico).

Developed vs. Emerging Markets

FTIHX holds both. Developed market stocks (Europe, Japan, Australia, Canada — but Canada is excluded as it appears in other MSCI indexes) make up roughly 75% of the fund. Emerging market stocks (China, India, Brazil, Taiwan, South Korea, Mexico, and others) make up roughly 25%. Emerging markets carry more volatility but also higher long-term growth potential as those economies develop.

What Does FTIHX Hold?

FTIHX covers 50+ countries. Here's how the geographic exposure breaks down approximately:

Europe

~38%

Japan

~16%

Emerging Asia (China, India, Taiwan, Korea)

~22%

Pacific ex-Japan (Australia, etc.)

~8%

Latin America & Other

~8%

Middle East & Africa

~4%

Approximate allocations — weights shift as market values change.

Top holdings typically include names like Samsung Electronics (South Korea), Nestlé (Switzerland), ASML (Netherlands), LVMH (France), Novo Nordisk (Denmark), and Toyota (Japan). Each individual holding makes up less than 1–2% of the fund, so no single company or event dominates performance.

Why International Diversification Matters

U.S. stocks have been exceptional performers over the last decade. So why hold international stocks at all?

Because past performance doesn't guarantee future results — and there have been long periods when international stocks outperformed the U.S.:

2002–2007: International stocks significantly outperformed U.S. stocks for five consecutive years as the dollar weakened and emerging markets boomed
1970s and 1980s: Japan's market delivered exceptional returns while the U.S. struggled; Japanese stocks became the largest share of global market cap by 1989
1990–2000: The U.S. dominated as tech boomed; international investors missed the rally

No one can predict which decade will favor which region. Holding both FSKAX and FTIHX means you participate in growth wherever it happens globally, without having to predict geography.

The math of diversification

When the U.S. market declines, international markets don't always fall by the same amount at the same time. Holding assets with low correlation to each other reduces your portfolio's overall volatility — meaning smoother returns over time even if no individual asset outperforms. FTIHX and FSKAX are correlated (global downturns hit both) but not perfectly, which provides some cushion.

The 0.06% Expense Ratio, In Dollars

FTIHX charges 0.06% per year — that's $0.60 per $1,000 invested. Here's what that looks like at different portfolio sizes:

Portfolio Size	Annual Fee (0.06%)	Monthly Fee
$5,000	$3.00	$0.25
$10,000	$6.00	$0.50
$50,000	$30.00	$2.50
$100,000	$60.00	$5.00

International funds generally cost slightly more than domestic U.S. funds because they must deal with foreign exchanges, currency hedging considerations, and trading in multiple time zones. FTIHX at 0.06% is among the cheapest international funds available anywhere. For comparison, actively managed international funds typically charge 0.70%–1.00%/year.

FTIHX vs Alternatives

Fund	Expense Ratio	Structure	Holdings	Transferable?
FTIHX	0.06%	Mutual fund	~5,500 (50+ countries)	Yes
FZILX	0.00%	Mutual fund	~2,400 (proprietary index)	No — Fidelity only
VXUS	0.07%	ETF	~8,600 (50+ countries)	Yes
IXUS	0.07%	ETF	~4,200 (50+ countries)	Yes

FTIHX vs FZILX: FZILX's 0.00% fee is hard to beat on paper — but it uses a proprietary index with fewer holdings and cannot be transferred to another brokerage. The $6/year difference per $10,000 is genuinely negligible. If you're committed to staying at Fidelity, FZILX is fine. If you want optionality, FTIHX transfers in-kind.

FTIHX vs VXUS: Very similar coverage (VXUS is slightly broader at ~8,600 stocks). FTIHX is slightly cheaper (0.06% vs 0.07%) and is a mutual fund with fractional dollar investing at Fidelity, vs VXUS which is an ETF. For Fidelity investors, FTIHX is the natural fit.

The 80/20 Strategy: FSKAX + FTIHX

The most common two-fund portfolio for ITIN holders at Fidelity pairs FSKAX and FTIHX at an 80/20 ratio. Here's what that actually means:

Portfolio Detail	FSKAX (80%)	FTIHX (20%)	Combined
Market coverage	U.S. total market	All countries ex-U.S.	~99% of global market cap
Number of stocks	~3,900	~5,500	~9,400 companies
Expense ratio	0.015%	0.06%	~0.024% blended
Blended fee on $7,500 (annual Roth max)	—	—	$1.80/year

At a blended expense ratio of ~0.024%, you're paying roughly $2.40/year in fees on every $10,000 invested. That's the entire cost of owning nearly 9,400 companies across the global economy inside your tax-free Roth IRA.

Rebalancing is easy inside a Roth IRA

Once a year, check if your allocation has drifted from 80/20. If FSKAX has grown to 85% and FTIHX has fallen to 15%, simply direct your next contributions to FTIHX until you're back at 20%. Inside a Roth IRA, rebalancing generates no taxable event — you can also sell and rebuy to rebalance without tax consequences.

How to Buy FTIHX in a Fidelity Roth IRA

If you already have a Fidelity Roth IRA, the process mirrors buying any other fund:

Log in to Fidelity at fidelity.com
Click on your Roth IRA account
Select Trade → Mutual Funds
In the "Symbol" field, type FTIHX and press Enter
Choose Buy, then select Dollars
Enter your dollar amount — for a $288 biweekly contribution, $57.60 would go to FTIHX (20%) and $230.40 to FSKAX (80%)
Confirm the order

You can simplify this by setting up automatic investments: schedule $230.40 biweekly into FSKAX and $57.60 into FTIHX, and Fidelity will automatically buy both on payday without you needing to log in.

Frequently Asked Questions

Does FTIHX include China?

Yes. Chinese stocks are part of the MSCI ACWI ex USA index that FTIHX tracks, typically making up 7–10% of the fund (within the emerging markets allocation). That includes companies listed on exchanges in Hong Kong and mainland China (through "Stock Connect" access). China is the second-largest country allocation in FTIHX after Japan in most recent periods, though weights change as market values shift.

Is FTIHX currency-hedged?

No — FTIHX is unhedged. It holds stocks in their local currencies (euros, yen, pounds, etc.), and the value in U.S. dollars fluctuates as exchange rates move. When the U.S. dollar weakens against foreign currencies, FTIHX's returns in dollar terms are boosted. When the dollar strengthens, returns are reduced. This currency exposure is part of what makes international diversification meaningful — your portfolio isn't entirely tied to the U.S. dollar's strength.

Does FTIHX pay dividends?

Yes. FTIHX distributes dividends quarterly. International stocks, particularly in Europe, tend to pay higher dividend yields than U.S. stocks — so FTIHX often has a higher yield than FSKAX. Inside a Roth IRA, dividends are reinvested tax-free. In a taxable account, international dividends may be subject to foreign tax withholding, but you can usually claim a foreign tax credit on your U.S. tax return to offset this.

Should I increase my FTIHX allocation if I'm from another country?

Personal circumstances matter. If you have family ties, property, or expected income streams in another country, you might want less U.S.-dollar-denominated exposure — which would argue for a higher FTIHX allocation. There's no universal right answer. Common allocations range from 20% to 40% international. What matters most is picking an allocation you're comfortable with and sticking to it through volatility.

Why is FTIHX more expensive than FSKAX?

International funds have higher operating costs: they must buy and sell on dozens of foreign exchanges, manage currency conversions, deal with different settlement systems, and handle foreign tax withholding. FSKAX only trades on U.S. exchanges, making it simpler and cheaper to run. Even so, FTIHX's 0.06% is extremely cheap for an international fund — most actively managed international funds charge 10–15x more.

FTIHX: Fidelity Total International Index Fund