AGEYX vs. FSEDX

Last updated Jun 25, 2026

AGEYX (American Beacon Developing World Income Fund Class Y) and FSEDX (Fidelity Series Emerging Markets Debt Local Currency Fund) are both Emerging Markets Bonds funds. Over the past 5 years, AGEYX returned 8.25%/yr vs 2.99%/yr for FSEDX. At a 0.41 correlation, their price movements are largely independent. AGEYX charges 1.14%/yr vs 0.00%/yr for FSEDX.

Performance

AGEYX vs. FSEDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Developing World Income Fund Class Y (AGEYX) and Fidelity Series Emerging Markets Debt Local Currency Fund (FSEDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGEYX achieves a 7.40% return, which is significantly higher than FSEDX's 0.85% return.

AGEYX

• 1D: -0.13%
• 1M: 1.66%
• YTD: 7.40%
• 6M: 7.86%
• 1Y: 19.65%
• 3Y*: 16.59%
• 5Y*: 8.25%
• 10Y*: 7.99%

FSEDX

• 1D: -0.52%
• 1M: 0.53%
• YTD: 0.85%
• 6M: 0.95%
• 1Y: 8.33%
• 3Y*: 7.31%
• 5Y*: 2.99%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AGEYX vs. FSEDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AGEYX American Beacon Developing World Income Fund Class Y	7.40%	19.15%	15.85%	13.10%	-12.62%	6.91%	3.08%
FSEDX Fidelity Series Emerging Markets Debt Local Currency Fund	0.85%	19.49%	-2.54%	13.58%	-7.94%	-9.28%	3.54%

Correlation

The correlation between AGEYX and FSEDX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Nov 23, 2020	0.41

The correlation between AGEYX and FSEDX has been stable across timeframes, ranging from 0.41 to 0.50 - a consistent structural relationship.

Return for Risk

AGEYX vs. FSEDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AGEYX

AGEYX Risk / Return Rank: 98
AGEYX Sharpe Ratio Rank: 100
AGEYX Sortino Ratio Rank: 99
AGEYX Omega Ratio Rank: 99
AGEYX Calmar Ratio Rank: 97
AGEYX Martin Ratio Rank: 98

FSEDX

FSEDX Risk / Return Rank: 31
FSEDX Sharpe Ratio Rank: 34
FSEDX Sortino Ratio Rank: 34
FSEDX Omega Ratio Rank: 37
FSEDX Calmar Ratio Rank: 23
FSEDX Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AGEYX vs. FSEDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Developing World Income Fund Class Y (AGEYX) and Fidelity Series Emerging Markets Debt Local Currency Fund (FSEDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGEYX	FSEDX	Difference
Sharpe ratio: Return per unit of total volatility	5.36	1.45	+3.91
Sortino ratio: Return per unit of downside risk	8.94	2.11	+6.83
Omega ratio: Gain probability vs. loss probability	2.47	1.28	+1.19
Calmar ratio: Return relative to maximum drawdown	6.38	1.52	+4.86
Martin ratio: Return relative to average drawdown	28.55	4.91	+23.64

AGEYX vs. FSEDX - Sharpe Ratio Comparison

The current AGEYX Sharpe Ratio is 5.36, which is higher than the FSEDX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of AGEYX and FSEDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGEYX vs. FSEDX - Drawdown Comparison

The maximum AGEYX drawdown since its inception was -22.24%, smaller than the maximum FSEDX drawdown of -24.77%. Use the drawdown chart below to compare losses from any high point for AGEYX and FSEDX.

Drawdown Indicators

	AGEYX	FSEDX	Difference
Max Drawdown Largest peak-to-trough decline	-22.24%	-24.77%	+2.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-6.10%	+2.95%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-8.27%	+3.50%
Max Drawdown (5Y) Largest decline over 5 years	-22.24%	-21.74%	-0.50%
Max Drawdown (10Y) Largest decline over 10 years	-22.24%	—	—
Current Drawdown Current decline from peak	-0.26%	-2.74%	+2.48%
Average Drawdown Average peak-to-trough decline	-3.53%	-7.95%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	1.89%	-1.19%

Volatility

AGEYX vs. FSEDX - Volatility Comparison

The current volatility for American Beacon Developing World Income Fund Class Y (AGEYX) is 0.92%, while Fidelity Series Emerging Markets Debt Local Currency Fund (FSEDX) has a volatility of 2.03%. This indicates that AGEYX experiences smaller price fluctuations and is considered to be less risky than FSEDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGEYX	FSEDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	2.03%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	5.63%	-2.53%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	6.42%	-2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.17%	7.62%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	7.68%	-2.69%

AGEYX vs. FSEDX - Expense Ratio Comparison

AGEYX has a 1.14% expense ratio, which is higher than FSEDX's 0.00% expense ratio.

Dividends

AGEYX vs. FSEDX - Dividend Comparison

AGEYX's dividend yield for the trailing twelve months is around 9.73%, more than FSEDX's 7.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGEYX American Beacon Developing World Income Fund Class Y	9.73%	9.99%	12.16%	9.64%	7.50%	7.90%	7.34%	8.61%	9.88%	7.30%	8.43%	7.03%
FSEDX Fidelity Series Emerging Markets Debt Local Currency Fund	7.49%	6.97%	6.92%	5.14%	0.00%	3.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGEYX and FSEDX in my portfolio?

AGEYX and FSEDX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGEYX or FSEDX?

FSEDX has higher volatility (2.03%) compared to AGEYX (0.92%). In terms of maximum drawdown, AGEYX dropped -22.24% vs FSEDX's -24.77%.

Which has better risk-adjusted returns?

AGEYX currently has the higher Sharpe Ratio (5.36 vs 1.45), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.