EEMA vs. FSEAX
EEMA (iShares MSCI Emerging Markets Asia ETF) and FSEAX (Fidelity Emerging Asia Fund) are both Asia Pacific Equities funds. EEMA is passively managed, while FSEAX is actively managed. Over the past 10 years, EEMA returned 9.46%/yr vs 14.18%/yr for FSEAX. Their correlation of 0.86 means they have usually moved in the same direction. EEMA charges 0.50%/yr vs 1.03%/yr for FSEAX.
Performance
EEMA vs. FSEAX - Performance Comparison
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Returns By Period
In the year-to-date period, EEMA achieves a 22.06% return, which is significantly lower than FSEAX's 27.87% return. Over the past 10 years, EEMA has underperformed FSEAX with an annualized return of 9.46%, while FSEAX has yielded a comparatively higher 14.18% annualized return.
EEMA
- 1D
- 2.15%
- 1M
- 0.93%
- 6M
- 13.61%
- YTD
- 22.06%
- 1Y
- 38.70%
- 3Y*
- 21.29%
- 5Y*
- 7.47%
- 10Y*
- 9.46%
- ALL TIME*
- 7.10%
FSEAX
- 1D
- 1.36%
- 1M
- -3.32%
- 6M
- 17.57%
- YTD
- 27.87%
- 1Y
- 45.20%
- 3Y*
- 29.84%
- 5Y*
- 7.88%
- 10Y*
- 14.18%
- ALL TIME*
- 8.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.43M | $13.06M | $19.95M | |
| $0.00 | $0.00 | $0.00 |
EEMA vs. FSEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 22.06% | 33.27% | 10.23% | 6.57% | -21.49% | -4.22% | 25.17% | 18.60% | -15.76% | 43.41% |
FSEAX Fidelity Emerging Asia Fund | 27.87% | 36.43% | 21.80% | 13.58% | -31.26% | -14.91% | 73.43% | 30.97% | -15.08% | 45.13% |
Correlation
The correlation between EEMA and FSEAX 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. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.86 |
The correlation between EEMA and FSEAX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
EEMA vs. FSEAX — Risk / Return Rank
EEMA
FSEAX
EEMA vs. FSEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) and Fidelity Emerging Asia Fund (FSEAX). 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.
| EEMA | FSEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 3.09 | -0.38 |
| Martin ratioReturn relative to average drawdown | 8.33 | 9.88 | -1.55 |
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Drawdowns
EEMA vs. FSEAX - Drawdown Comparison
The maximum EEMA drawdown since its inception was -44.18%, smaller than the maximum FSEAX drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for EEMA and FSEAX.
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Drawdown Indicators
| EEMA | FSEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.18% | -65.59% | +21.41% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -15.33% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -20.23% | -17.54% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -38.31% | -50.98% | +12.67% |
Max Drawdown (10Y)Largest decline over 10 years | -44.18% | -58.07% | +13.89% |
Current DrawdownCurrent decline from peak | -5.83% | -9.48% | +3.65% |
Average DrawdownAverage peak-to-trough decline | -13.88% | -24.59% | +10.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.66% | 4.79% | -0.13% |
Volatility
EEMA vs. FSEAX - Volatility Comparison
The current volatility for iShares MSCI Emerging Markets Asia ETF (EEMA) is 7.78%, while Fidelity Emerging Asia Fund (FSEAX) has a volatility of 9.89%. This indicates that EEMA experiences smaller price fluctuations and is considered to be less risky than FSEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMA | FSEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.78% | 9.89% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.29% | 22.83% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.86% | 25.13% | -1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 23.71% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.13% | 21.55% | -0.42% |
EEMA vs. FSEAX - Expense Ratio Comparison
EEMA has a 0.50% expense ratio, which is lower than FSEAX's 1.03% expense ratio.
Dividends
EEMA vs. FSEAX - Dividend Comparison
EEMA's dividend yield for the trailing twelve months is around 1.35%, more than FSEAX's 0.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 1.35% | 1.48% | 1.74% | 2.02% | 1.78% | 2.19% | 1.15% | 1.86% | 2.17% | 1.74% | 1.74% | 2.44% |
FSEAX Fidelity Emerging Asia Fund | 0.17% | 0.22% | 0.00% | 0.08% | 0.00% | 14.14% | 14.10% | 6.15% | 3.44% | 0.05% | 1.26% | 0.44% |
Frequently Asked Questions
With a correlation of 0.91, EEMA and FSEAX 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.
FSEAX has higher volatility (9.89%) compared to EEMA (7.78%). In terms of maximum drawdown, EEMA dropped -44.18% vs FSEAX's -65.59%.
FSEAX currently has the higher Sharpe Ratio (1.89 vs 1.63), 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.
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