DAADX vs. FEMSX

Last updated Aug 4, 2026

DAADX (DFA Emerging Markets ex China Core Equity Portfolio) and FEMSX (Fidelity Series Emerging Markets Opportunities Fund) are both Emerging Markets Equities funds. Over the past 3 years, DAADX returned 20.22%/yr vs 22.02%/yr for FEMSX. Their correlation of 0.85 means they have usually moved in the same direction. DAADX charges 0.43%/yr vs 0.01%/yr for FEMSX.

Performance

DAADX vs. FEMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Emerging Markets ex China Core Equity Portfolio (DAADX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAADX achieves a 23.85% return, which is significantly higher than FEMSX's 22.47% return.

DAADX

• 1D: 2.21%
• 1M: -5.11%
• 6M: 14.17%
• YTD: 23.85%
• 1Y: 41.94%
• 3Y*: 20.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.15%

FEMSX

• 1D: 1.68%
• 1M: -1.85%
• 6M: 11.77%
• YTD: 22.47%
• 1Y: 44.47%
• 3Y*: 22.02%
• 5Y*: 8.45%
• 10Y*: 11.63%
• ALL TIME*: 10.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAADX DFA Emerging Markets ex China Core Equity Portfolio	$0.00	$0.00	$0.00
FEMSX Fidelity Series Emerging Markets Opportunities Fund	$0.00	$0.00	$0.00

DAADX vs. FEMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAADX DFA Emerging Markets ex China Core Equity Portfolio	23.85%	27.59%	3.44%	24.58%	-15.81%	0.20%
FEMSX Fidelity Series Emerging Markets Opportunities Fund	22.47%	37.92%	7.84%	14.23%	-23.95%	-4.99%

Correlation

The correlation between DAADX and FEMSX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (All Time) Calculated using the full available price history since Nov 11, 2021	0.85

The correlation between DAADX and FEMSX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

DAADX vs. FEMSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DAADX

DAADX Risk / Return Rank: 69
DAADX Sharpe Ratio Rank: 74
DAADX Sortino Ratio Rank: 60
DAADX Omega Ratio Rank: 75
DAADX Calmar Ratio Rank: 70
DAADX Martin Ratio Rank: 65

FEMSX

FEMSX Risk / Return Rank: 75
FEMSX Sharpe Ratio Rank: 74
FEMSX Sortino Ratio Rank: 64
FEMSX Omega Ratio Rank: 73
FEMSX Calmar Ratio Rank: 87
FEMSX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DAADX vs. FEMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Emerging Markets ex China Core Equity Portfolio (DAADX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). 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.

	DAADX	FEMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.80	-0.02
Sortino ratio: Return per unit of downside risk	2.27	2.33	-0.06
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.01
Calmar ratio: Return relative to maximum drawdown	2.41	3.19	-0.78
Martin ratio: Return relative to average drawdown	8.82	9.98	-1.16

DAADX vs. FEMSX - Sharpe Ratio Comparison

The current DAADX Sharpe Ratio is 1.79, which is comparable to the FEMSX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of DAADX and FEMSX, 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

DAADX vs. FEMSX - Drawdown Comparison

The maximum DAADX drawdown since its inception was -24.98%, smaller than the maximum FEMSX drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for DAADX and FEMSX.

Drawdown Indicators

	DAADX	FEMSX	Difference
Max Drawdown Largest peak-to-trough decline	-24.98%	-44.16%	+19.18%
Max Drawdown (1Y) Largest decline over 1 year	-16.99%	-13.47%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-17.04%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	—	-39.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.16%	—
Current Drawdown Current decline from peak	-12.15%	-8.38%	-3.77%
Average Drawdown Average peak-to-trough decline	-6.76%	-13.34%	+6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	4.30%	+0.32%

Volatility

DAADX vs. FEMSX - Volatility Comparison

DFA Emerging Markets ex China Core Equity Portfolio (DAADX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX) have volatilities of 9.93% and 9.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAADX	FEMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	9.60%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	21.76%	21.86%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	22.96%	23.88%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	19.97%	-3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.00%	19.76%	-3.76%

DAADX vs. FEMSX - Expense Ratio Comparison

DAADX has a 0.43% expense ratio, which is higher than FEMSX's 0.01% expense ratio.

Dividends

DAADX vs. FEMSX - Dividend Comparison

DAADX's dividend yield for the trailing twelve months is around 2.03%, more than FEMSX's 2.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAADX DFA Emerging Markets ex China Core Equity Portfolio	2.03%	2.28%	2.64%	2.82%	3.02%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FEMSX Fidelity Series Emerging Markets Opportunities Fund	2.00%	2.45%	2.08%	2.82%	2.39%	12.83%	2.99%	2.48%	9.42%	8.98%	1.46%	1.27%

Frequently Asked Questions

Can I hold both DAADX and FEMSX in my portfolio?

With a correlation of 0.91, DAADX and FEMSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DAADX or FEMSX?

DAADX has higher volatility (9.93%) compared to FEMSX (9.60%). In terms of maximum drawdown, DAADX dropped -24.98% vs FEMSX's -44.16%.

Which has better risk-adjusted returns?

FEMSX currently has the higher Sharpe Ratio (1.80 vs 1.79), 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.