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Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) Diversifiers

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

The investment seeks capital appreciation. The fund normally invests at least 80% of assets in securities of issuers in emerging markets (countries that have an emerging stock market as defined by MSCI, countries or markets with low- to middle-income economies as classified by the World Bank, and other countries or markets with similar emerging characteristics) and other investments that are tied economically to emerging markets. It normally invests primarily in common stocks. The fund allocates investments across different emerging market countries.

Looking to diversify beyond FZAEX? The mutual funds below have the lowest correlation with FZAEX — 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 FZAEX.

Best Diversifiers for FZAEX

0 mutual funds have low correlation with FZAEX (below 0.3), 0 of which are negatively correlated. The least correlated is Pzena Emerging Markets Value Fund Institutional Class (PZIEX) (Emerging Markets Equities) with a 1Y correlation of 0.54, down from 0.67 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PZIEX
Pzena Emerging Markets Value Fund Institutional Cl...0.540.660.67
55
Emerging Markets EquitiesFZAEX vs PZIEX
WXCIX
William Blair Emerging Markets ex China Growth Fun...0.630.59—
95
Emerging Markets EquitiesFZAEX vs WXCIX
DEMAX
Nomura Emerging Markets Fund Class A0.680.740.81
98
Emerging Markets EquitiesFZAEX vs DEMAX
DEMCX
Nomura Emerging Markets Fund Class C0.680.740.81
98
Emerging Markets EquitiesFZAEX vs DEMCX
FZROX
Fidelity ZERO Total Market Index Fund0.680.620.60
66
Large Cap Blend EquitiesFZAEX vs FZROX
See all 48 diversifiers for FZAEX

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