Fidelity International High Dividend ETF’s 29% annual return driven by euro appreciation, but risks rise if currency falls below $1.13.
The Fidelity International High Dividend ETF (FIDI) has surged 29% over the past year, fueled by a 6% rise in the euro from $1.1106 in May 2025 to $1.1755 on May 1, 2026. The fund’s performance, trading near $28 a share, relies heavily on currency tailwinds converting overseas dividends into higher USD returns.
FIDI’s portfolio, concentrated in rate-regulated utilities like ENEL and National Grid, faces risks if the euro drops below $1.13 or dividends from top holdings are cut. The fund’s 0.19% expense ratio remains one of the lowest for developed-market high-dividend exposure, but its near-term outlook depends on sustained EUR strength.
The euro’s 79th-percentile position in its 12-month range underscores its critical role in FIDI’s returns, with further upside tied to USD/EUR trends over the next year.