Fidelity Advisor Latin America Fund Class A has an annualized alpha of -12.15%, beta of 0.94, and R² of 0.41 versus S&P 500 Index. Calculated based on daily prices since September 29, 2010.

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in Latin American companies. Under normal conditions, at least four countries will be represented in the fund's portfolio. The fund may purchase the stocks of companies of any size. It is non-diversified.

Nasdaq

PRLAX

The fund normally invests at least 80% of net assets, plus the amount of any borrowings for investment purposes, in Latin American common stocks and other equities. It may invest up to 20% of net assets in the equity securities of U.S. and other non-Latin American issuers and in debt securities including junk bonds (grade BB/Ba and below). The fund may also invest as much as 10% of net assets in debt securities rated B or lower. It is non-diversified.

SLAFX

The investment aims for long-term capital growth, primarily allocating at least 80% of net assets to Latin American equities. Up to 20% may be invested in non-Latin American equities and debt securities, including junk bonds. Additionally, up to 10% may be allocated to debt securities rated B or lower.

SLANX

Under normal circumstances, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in Latin American equity securities. These equity securities include the securities of Latin American companies and investment companies that primarily invest in the securities of issuers in, or seek to track the performance of indices based on, Latin American markets. It may invest up to 20% of its assets in countries other than Latin American countries.

OTGAX

The fund normally invests at least 80% of assets in securities of Latin American issuers and other investments that are tied economically to Latin America. It normally invests primarily in common stocks and allocates investment across different Latin American countries. The fund invests up to 35% of total assets in any industry that accounts for more than 20% of the Latin American market. It 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. The fund is non-diversified.

Symbol	Name	1Y Sortino Ratio
PRLAX	T. Rowe Price Latin America Fund	2.63
SLAFX	DWS Latin America Equity Fund	2.58
SLANX	DWS Latin America Equity Fund Class A	2.57
OTGAX	OTG Latin America Fund	—
FLFAX	Fidelity Advisor Latin America Fund Class A	—

Fidelity Advisor Latin America Fund Class A (FLFAX) Sortino Ratio

How it compares to other similar mutual funds

Historical Sortino Ratio