AVXC vs. FFGX

Last updated Jun 24, 2026

AVXC (Avantis Emerging Markets ex-China Equity ETF) and FFGX (Fidelity Fundamental Global ex-U.S. ETF) are both exchange-traded funds - AVXC is a Emerging Markets Diversified fund actively managed by Avantis, while FFGX is a Foreign Large Cap Equities fund actively managed by Fidelity. Both are actively managed. Over the past year, AVXC returned 56.20% vs 24.66% for FFGX. Their correlation of 0.85 suggests significant overlap in exposure. AVXC charges 0.33%/yr vs 0.55%/yr for FFGX.

Performance

AVXC vs. FFGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets ex-China Equity ETF (AVXC) and Fidelity Fundamental Global ex-U.S. ETF (FFGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVXC achieves a 31.52% return, which is significantly higher than FFGX's 13.21% return.

AVXC

• 1D: -5.67%
• 1M: 3.81%
• YTD: 31.52%
• 6M: 32.82%
• 1Y: 56.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFGX

• 1D: -3.80%
• 1M: 1.83%
• YTD: 13.21%
• 6M: 13.36%
• 1Y: 24.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVXC vs. FFGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVXC Avantis Emerging Markets ex-China Equity ETF	31.52%	31.45%	-2.38%
FFGX Fidelity Fundamental Global ex-U.S. ETF	13.21%	27.85%	-9.98%

Correlation

The correlation between AVXC and FFGX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.85

The correlation between AVXC and FFGX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

AVXC vs. FFGX — Risk / Return Rank

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

AVXC

AVXC Risk / Return Rank: 80
AVXC Sharpe Ratio Rank: 81
AVXC Sortino Ratio Rank: 73
AVXC Omega Ratio Rank: 82
AVXC Calmar Ratio Rank: 81
AVXC Martin Ratio Rank: 82

FFGX

FFGX Risk / Return Rank: 41
FFGX Sharpe Ratio Rank: 39
FFGX Sortino Ratio Rank: 38
FFGX Omega Ratio Rank: 40
FFGX Calmar Ratio Rank: 41
FFGX Martin Ratio Rank: 48

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.

AVXC vs. FFGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets ex-China Equity ETF (AVXC) and Fidelity Fundamental Global ex-U.S. ETF (FFGX). 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.

	AVXC	FFGX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.29	+1.17
Sortino ratio: Return per unit of downside risk	3.07	1.84	+1.23
Omega ratio: Gain probability vs. loss probability	1.46	1.25	+0.21
Calmar ratio: Return relative to maximum drawdown	4.02	1.93	+2.10
Martin ratio: Return relative to average drawdown	15.56	7.46	+8.10

AVXC vs. FFGX - Sharpe Ratio Comparison

The current AVXC Sharpe Ratio is 2.45, which is higher than the FFGX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of AVXC and FFGX, 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

AVXC vs. FFGX - Drawdown Comparison

The maximum AVXC drawdown since its inception was -20.44%, which is greater than FFGX's maximum drawdown of -14.95%. Use the drawdown chart below to compare losses from any high point for AVXC and FFGX.

Drawdown Indicators

	AVXC	FFGX	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-14.95%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-14.04%	-12.86%	-1.18%
Current Drawdown Current decline from peak	-5.67%	-3.80%	-1.87%
Average Drawdown Average peak-to-trough decline	-3.79%	-2.87%	-0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	3.31%	+0.31%

Volatility

AVXC vs. FFGX - Volatility Comparison

Avantis Emerging Markets ex-China Equity ETF (AVXC) has a higher volatility of 13.12% compared to Fidelity Fundamental Global ex-U.S. ETF (FFGX) at 8.62%. This indicates that AVXC's price experiences larger fluctuations and is considered to be riskier than FFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVXC	FFGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.12%	8.62%	+4.50%
Volatility (6M) Calculated over the trailing 6-month period	21.15%	17.43%	+3.72%
Volatility (1Y) Calculated over the trailing 1-year period	23.03%	19.28%	+3.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	20.64%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.83%	20.64%	-0.81%

AVXC vs. FFGX - Expense Ratio Comparison

AVXC has a 0.33% expense ratio, which is lower than FFGX's 0.55% expense ratio.

Dividends

AVXC vs. FFGX - Dividend Comparison

AVXC's dividend yield for the trailing twelve months is around 2.06%, more than FFGX's 1.53% yield.

Position	TTM	2025	2024
AVXC Avantis Emerging Markets ex-China Equity ETF	2.06%	1.97%	1.34%
FFGX Fidelity Fundamental Global ex-U.S. ETF	1.53%	1.62%	0.40%

Frequently Asked Questions

Can I hold both AVXC and FFGX in my portfolio?

AVXC and FFGX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVXC or FFGX?

AVXC has higher volatility (13.12%) compared to FFGX (8.62%). In terms of maximum drawdown, AVXC dropped -20.44% vs FFGX's -14.95%.

Which ETF is better, AVXC or FFGX?

On 1-year performance, AVXC leads with 56.20% vs 24.66% for FFGX. On fees, AVXC is cheaper at 0.33% per year. On volatility, FFGX has been the lower-risk option at 8.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVXC or FFGX?

Over the 1-year period, AVXC has performed better with a 56.20% return vs 24.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVXC or FFGX?

AVXC is cheaper with a 0.33% expense ratio, compared with 0.55% for FFGX.

Which ETF pays a higher dividend yield, AVXC or FFGX?

AVXC has the higher dividend yield at 2.06%, compared with 1.53% for FFGX.

What is the main difference between AVXC and FFGX?

AVXC is categorized as Emerging Markets Diversified, while FFGX is Foreign Large Cap Equities. They also come from different issuers: Avantis and Fidelity. Their fees differ too: 0.33% for AVXC and 0.55% for FFGX.

Which has better risk-adjusted returns?

AVXC currently has the higher Sharpe Ratio (2.45 vs 1.28), 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.