AMDWX vs. FIEUX

Last updated Jun 4, 2026

AMDWX (Amana Mutual Funds Trust Developing World Fund) and FIEUX (Fidelity Europe Fund) are both mutual funds - AMDWX is a Emerging Markets Diversified fund managed by Amana, while FIEUX is a Europe Equities fund managed by Fidelity. Over the past 10 years, AMDWX returned 8.56%/yr vs 8.18%/yr for FIEUX. A 0.70 correlation means they provide meaningful diversification when combined. AMDWX charges 1.14%/yr vs 1.06%/yr for FIEUX.

Performance

AMDWX vs. FIEUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amana Mutual Funds Trust Developing World Fund (AMDWX) and Fidelity Europe Fund (FIEUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDWX achieves a 28.05% return, which is significantly higher than FIEUX's 7.29% return. Both investments have delivered pretty close results over the past 10 years, with AMDWX having a 8.56% annualized return and FIEUX not far behind at 8.18%.

AMDWX

• 1D: 1.38%
• 1M: 8.82%
• YTD: 28.05%
• 6M: 31.13%
• 1Y: 55.13%
• 3Y*: 20.38%
• 5Y*: 9.14%
• 10Y*: 8.56%

FIEUX

• 1D: 0.54%
• 1M: 4.69%
• YTD: 7.29%
• 6M: 10.52%
• 1Y: 18.87%
• 3Y*: 17.12%
• 5Y*: 5.87%
• 10Y*: 8.18%

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

AMDWX vs. FIEUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMDWX Amana Mutual Funds Trust Developing World Fund	28.05%	19.97%	6.93%	13.25%	-17.60%	7.31%	21.26%	18.68%	-15.56%	21.39%
FIEUX Fidelity Europe Fund	7.29%	37.53%	4.21%	13.68%	-20.62%	6.63%	18.29%	24.43%	-17.22%	29.16%

Correlation

The correlation between AMDWX and FIEUX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 30, 2009	0.70

The correlation between AMDWX and FIEUX has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

Return for Risk

AMDWX vs. FIEUX — Risk / Return Rank

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

AMDWX

AMDWX Risk / Return Rank: 91
AMDWX Sharpe Ratio Rank: 94
AMDWX Sortino Ratio Rank: 88
AMDWX Omega Ratio Rank: 88
AMDWX Calmar Ratio Rank: 92
AMDWX Martin Ratio Rank: 90

FIEUX

FIEUX Risk / Return Rank: 17
FIEUX Sharpe Ratio Rank: 16
FIEUX Sortino Ratio Rank: 16
FIEUX Omega Ratio Rank: 16
FIEUX Calmar Ratio Rank: 17
FIEUX Martin Ratio Rank: 21

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.

AMDWX vs. FIEUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amana Mutual Funds Trust Developing World Fund (AMDWX) and Fidelity Europe Fund (FIEUX). 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.

	AMDWX	FIEUX	Difference
Sharpe ratio: Return per unit of total volatility	3.31	1.14	+2.17
Sortino ratio: Return per unit of downside risk	4.24	1.70	+2.55
Omega ratio: Gain probability vs. loss probability	1.61	1.21	+0.41
Calmar ratio: Return relative to maximum drawdown	4.93	1.50	+3.43
Martin ratio: Return relative to average drawdown	18.41	5.59	+12.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDWX vs. FIEUX - Sharpe Ratio Comparison

The current AMDWX Sharpe Ratio is 3.31, which is higher than the FIEUX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of AMDWX and FIEUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMDWX	FIEUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	1.14	+2.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.34	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.46	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.44	-0.07

Drawdowns

AMDWX vs. FIEUX - Drawdown Comparison

The maximum AMDWX drawdown since its inception was -28.88%, smaller than the maximum FIEUX drawdown of -59.96%. Use the drawdown chart below to compare losses from any high point for AMDWX and FIEUX.

Drawdown Indicators

	AMDWX	FIEUX	Difference
Max Drawdown Largest peak-to-trough decline	-28.88%	-59.96%	+31.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-12.38%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.18%	-13.27%	-5.91%
Max Drawdown (5Y) Largest decline over 5 years	-27.01%	-38.04%	+11.03%
Max Drawdown (10Y) Largest decline over 10 years	-27.42%	-38.04%	+10.62%
Current Drawdown Current decline from peak	0.00%	-0.48%	+0.48%
Average Drawdown Average peak-to-trough decline	-9.00%	-14.04%	+5.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.32%	-0.28%

Volatility

AMDWX vs. FIEUX - Volatility Comparison

Amana Mutual Funds Trust Developing World Fund (AMDWX) has a higher volatility of 7.56% compared to Fidelity Europe Fund (FIEUX) at 6.31%. This indicates that AMDWX's price experiences larger fluctuations and is considered to be riskier than FIEUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDWX	FIEUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	6.31%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	14.69%	14.02%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	16.32%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	17.29%	-3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.09%	17.94%	-3.85%

AMDWX vs. FIEUX - Expense Ratio Comparison

AMDWX has a 1.14% expense ratio, which is higher than FIEUX's 1.06% expense ratio.

Dividends

AMDWX vs. FIEUX - Dividend Comparison

AMDWX's dividend yield for the trailing twelve months is around 2.19%, more than FIEUX's 2.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMDWX Amana Mutual Funds Trust Developing World Fund	2.19%	2.80%	0.58%	0.91%	1.03%	1.16%	0.00%	0.37%	0.50%	0.18%	0.28%	0.58%
FIEUX Fidelity Europe Fund	2.08%	2.23%	3.28%	1.62%	0.00%	16.10%	1.15%	7.42%	11.93%	2.52%	1.51%	0.43%

Frequently Asked Questions

Can I hold both AMDWX and FIEUX in my portfolio?

AMDWX and FIEUX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDWX or FIEUX?

AMDWX has higher volatility (7.56%) compared to FIEUX (6.31%). In terms of maximum drawdown, AMDWX dropped -28.88% vs FIEUX's -59.96%.

Which has better risk-adjusted returns?

AMDWX currently has the higher Sharpe Ratio (3.31 vs 1.14), 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.