EADOX vs. FNARX

Last updated Aug 1, 2026

EADOX (Eaton Vance Emerging Markets Debt Opportunities Fund Class A) and FNARX (Fidelity Natural Resources Fund) are both mutual funds - EADOX is a Emerging Markets Bonds fund managed by Eaton Vance, while FNARX is a Energy Equities fund actively managed by Fidelity. Over the past 10 years, EADOX returned 7.73%/yr vs 11.17%/yr for FNARX. Their 0.31 correlation means their historical movements had little consistent relationship. EADOX charges 1.11%/yr vs 0.69%/yr for FNARX.

Performance

EADOX vs. FNARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Emerging Markets Debt Opportunities Fund Class A (EADOX) and Fidelity Natural Resources Fund (FNARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EADOX achieves a 8.35% return, which is significantly lower than FNARX's 24.42% return. Over the past 10 years, EADOX has underperformed FNARX with an annualized return of 7.73%, while FNARX has yielded a comparatively higher 11.17% annualized return.

EADOX

• 1D: 0.28%
• 1M: 0.28%
• 6M: 4.99%
• YTD: 8.35%
• 1Y: 17.16%
• 3Y*: 14.30%
• 5Y*: 8.65%
• 10Y*: 7.73%
• ALL TIME*: 8.21%

FNARX

• 1D: 1.40%
• 1M: 8.41%
• 6M: 11.26%
• YTD: 24.42%
• 1Y: 42.38%
• 3Y*: 17.31%
• 5Y*: 22.57%
• 10Y*: 11.17%
• ALL TIME*: 8.51%

*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)
EADOX Eaton Vance Emerging Markets Debt Opportunities Fund Class A	$0.00	$0.00	$0.00
FNARX Fidelity Natural Resources Fund	$0.00	$0.00	$0.00

EADOX vs. FNARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EADOX Eaton Vance Emerging Markets Debt Opportunities Fund Class A	8.35%	16.93%	14.52%	11.13%	-6.42%	1.24%	7.12%	17.85%	-4.44%	12.58%
FNARX Fidelity Natural Resources Fund	24.42%	28.67%	3.76%	6.41%	41.01%	39.34%	-20.86%	19.09%	-24.28%	-0.11%

Correlation

The correlation between EADOX and FNARX is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.04
Correlation (3Y) Balances recent behavior with more history.	0.13
Correlation (5Y) Shows whether the relationship held over a longer period.	0.21
Correlation (10Y) Provides a long-term view across more market conditions.	0.28
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.31

Over the past year, the correlation between EADOX and FNARX has dropped to 0.04 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.

Return for Risk

EADOX vs. FNARX — Risk / Return Rank

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

EADOX

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

FNARX

FNARX Risk / Return Rank: 84
FNARX Sharpe Ratio Rank: 89
FNARX Sortino Ratio Rank: 83
FNARX Omega Ratio Rank: 81
FNARX Calmar Ratio Rank: 87
FNARX Martin Ratio Rank: 81

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.

EADOX vs. FNARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Emerging Markets Debt Opportunities Fund Class A (EADOX) and Fidelity Natural Resources Fund (FNARX). 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.

	EADOX	FNARX	Difference
Sharpe ratio: Return per unit of total volatility	5.03	2.20	+2.83
Sortino ratio: Return per unit of downside risk	7.91	2.88	+5.03
Omega ratio: Gain probability vs. loss probability	2.33	1.36	+0.97
Calmar ratio: Return relative to maximum drawdown	4.77	3.02	+1.75
Martin ratio: Return relative to average drawdown	19.28	9.64	+9.64

EADOX vs. FNARX - Sharpe Ratio Comparison

The current EADOX Sharpe Ratio is 5.03, which is higher than the FNARX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of EADOX and FNARX, 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

EADOX vs. FNARX - Drawdown Comparison

The maximum EADOX drawdown since its inception was -19.15%, smaller than the maximum FNARX drawdown of -71.04%. Use the drawdown chart below to compare losses from any high point for EADOX and FNARX.

Drawdown Indicators

	EADOX	FNARX	Difference
Max Drawdown Largest peak-to-trough decline	-19.15%	-71.04%	+51.89%
Max Drawdown (1Y) Largest decline over 1 year	-3.61%	-13.19%	+9.58%
Max Drawdown (3Y) Largest decline over 3 years	-3.61%	-20.64%	+17.03%
Max Drawdown (5Y) Largest decline over 5 years	-17.56%	-29.93%	+12.37%
Max Drawdown (10Y) Largest decline over 10 years	-19.15%	-64.10%	+44.95%
Current Drawdown Current decline from peak	-0.06%	-4.57%	+4.51%
Average Drawdown Average peak-to-trough decline	-2.49%	-19.99%	+17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	4.13%	-3.24%

Volatility

EADOX vs. FNARX - Volatility Comparison

The current volatility for Eaton Vance Emerging Markets Debt Opportunities Fund Class A (EADOX) is 0.76%, while Fidelity Natural Resources Fund (FNARX) has a volatility of 4.51%. This indicates that EADOX experiences smaller price fluctuations and is considered to be less risky than FNARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EADOX	FNARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	4.51%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	14.60%	-11.62%
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	18.23%	-14.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.58%	24.80%	-20.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.68%	26.79%	-22.11%

EADOX vs. FNARX - Expense Ratio Comparison

EADOX has a 1.11% expense ratio, which is higher than FNARX's 0.69% expense ratio.

Dividends

EADOX vs. FNARX - Dividend Comparison

EADOX's dividend yield for the trailing twelve months is around 10.41%, more than FNARX's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EADOX Eaton Vance Emerging Markets Debt Opportunities Fund Class A	10.41%	10.51%	8.27%	8.73%	8.87%	7.56%	7.42%	7.57%	7.83%	7.61%	4.04%	0.00%
FNARX Fidelity Natural Resources Fund	1.76%	1.89%	1.51%	1.60%	2.42%	1.46%	1.79%	1.42%	1.17%	1.38%	0.62%	0.78%

Frequently Asked Questions

Can I hold both EADOX and FNARX in my portfolio?

EADOX and FNARX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EADOX or FNARX?

FNARX has higher volatility (4.51%) compared to EADOX (0.76%). In terms of maximum drawdown, EADOX dropped -19.15% vs FNARX's -71.04%.

Which has better risk-adjusted returns?

EADOX currently has the higher Sharpe Ratio (5.03 vs 2.20), 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.