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Fidelity Emerging Markets (FEMKX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 23, 2026

The fund invests normally at least 80% of assets in securities of issuers in emerging markets and other investments that are tied economically to emerging markets. It invests normally in common stocks and allocates investments across different emerging market countries. The advisor uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

Looking to diversify beyond FEMKX? The mutual funds below have the lowest correlation with FEMKX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from FEMKX.

Best Diversifiers for FEMKX

0 mutual funds have low correlation with FEMKX (below 0.3), 0 of which are negatively correlated. The least correlated is Fidelity New Markets Income Fund (FNMIX) (Emerging Markets Bonds) with a 1Y correlation of 0.39, roughly unchanged from 0.35 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
FNMIX
Fidelity New Markets Income Fund0.390.310.35
94
Emerging Markets BondsFEMKX vs FNMIX
VEMBX
Vanguard Emerging Markets Bond Fund Investor Share...0.440.340.38
90
Emerging Markets BondsFEMKX vs VEMBX
PZIEX
Pzena Emerging Markets Value Fund Institutional Cl...0.450.560.59
55
Emerging Markets EquitiesFEMKX vs PZIEX
FCPVX
Fidelity Small Cap Value Fund0.530.540.59
74
Small Cap Value EquitiesFEMKX vs FCPVX
FSCRX
Fidelity Small Cap Discovery Fund0.540.550.60
51
Small Cap Blend EquitiesFEMKX vs FSCRX
See all 60 diversifiers for FEMKX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FEMKX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FEMKX and solid risk/return profiles. The least correlated is Exxon Mobil Corporation (XOM) (Energy) with a 1Y correlation of -0.13, down from 0.14 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
XOM
Exxon Mobil Corporation-0.130.030.14
68
Energy
ETR
Entergy Corporation0.130.120.11
89
Utilities
CSCO
Cisco Systems, Inc.0.280.340.40
94
Technology

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Diversification Analysis

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