ERBIX vs. FIQOX

Last updated Jun 23, 2026

ERBIX (Eaton Vance Richard Bernstein Equity Strategy Fund) and FIQOX (Fidelity Advisor Worldwide Fund Class Z) are both Global Equities funds. Over the past 5 years, ERBIX returned 9.50%/yr vs 16.42%/yr for FIQOX. Their correlation of 0.92 suggests significant overlap in exposure. ERBIX charges 0.93%/yr vs 0.90%/yr for FIQOX.

Performance

ERBIX vs. FIQOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) and Fidelity Advisor Worldwide Fund Class Z (FIQOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERBIX achieves a 11.62% return, which is significantly lower than FIQOX's 23.79% return.

ERBIX

• 1D: 1.30%
• 1M: 2.12%
• YTD: 11.62%
• 6M: 11.33%
• 1Y: 27.87%
• 3Y*: 16.20%
• 5Y*: 9.50%
• 10Y*: 12.47%

FIQOX

• 1D: 1.96%
• 1M: 5.74%
• YTD: 23.79%
• 6M: 24.13%
• 1Y: 43.32%
• 3Y*: 31.01%
• 5Y*: 16.42%
• 10Y*: —

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

ERBIX vs. FIQOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund	11.62%	18.35%	15.00%	14.63%	-14.75%	17.75%	16.49%	36.69%	-10.50%
FIQOX Fidelity Advisor Worldwide Fund Class Z	23.79%	16.27%	46.05%	25.10%	-25.64%	18.58%	31.08%	29.13%	-10.40%

Correlation

The correlation between ERBIX and FIQOX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.92

The correlation between ERBIX and FIQOX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

ERBIX vs. FIQOX — Risk / Return Rank

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

ERBIX

ERBIX Risk / Return Rank: 56
ERBIX Sharpe Ratio Rank: 57
ERBIX Sortino Ratio Rank: 53
ERBIX Omega Ratio Rank: 55
ERBIX Calmar Ratio Rank: 53
ERBIX Martin Ratio Rank: 64

FIQOX

FIQOX Risk / Return Rank: 75
FIQOX Sharpe Ratio Rank: 75
FIQOX Sortino Ratio Rank: 64
FIQOX Omega Ratio Rank: 67
FIQOX Calmar Ratio Rank: 83
FIQOX Martin Ratio Rank: 88

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.

ERBIX vs. FIQOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) and Fidelity Advisor Worldwide Fund Class Z (FIQOX). 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.

	ERBIX	FIQOX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.28	-0.23
Sortino ratio: Return per unit of downside risk	2.81	3.00	-0.19
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	2.65	3.63	-0.97
Martin ratio: Return relative to average drawdown	11.83	15.38	-3.55

ERBIX vs. FIQOX - Sharpe Ratio Comparison

The current ERBIX Sharpe Ratio is 2.05, which is comparable to the FIQOX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of ERBIX and FIQOX, 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

ERBIX vs. FIQOX - Drawdown Comparison

The maximum ERBIX drawdown since its inception was -29.18%, smaller than the maximum FIQOX drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for ERBIX and FIQOX.

Drawdown Indicators

	ERBIX	FIQOX	Difference
Max Drawdown Largest peak-to-trough decline	-29.18%	-33.64%	+4.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-11.74%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-22.59%	+6.10%
Max Drawdown (5Y) Largest decline over 5 years	-24.32%	-33.64%	+9.32%
Max Drawdown (10Y) Largest decline over 10 years	-29.18%	—	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.48%	-7.82%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	2.76%	-0.43%

Volatility

ERBIX vs. FIQOX - Volatility Comparison

The current volatility for Eaton Vance Richard Bernstein Equity Strategy Fund (ERBIX) is 5.25%, while Fidelity Advisor Worldwide Fund Class Z (FIQOX) has a volatility of 7.84%. This indicates that ERBIX experiences smaller price fluctuations and is considered to be less risky than FIQOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ERBIX	FIQOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	7.84%	-2.59%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	15.25%	-3.97%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	18.66%	-5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	20.26%	-5.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.45%	21.27%	-4.82%

ERBIX vs. FIQOX - Expense Ratio Comparison

ERBIX has a 0.93% expense ratio, which is higher than FIQOX's 0.90% expense ratio.

Dividends

ERBIX vs. FIQOX - Dividend Comparison

ERBIX's dividend yield for the trailing twelve months is around 16.25%, more than FIQOX's 9.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERBIX Eaton Vance Richard Bernstein Equity Strategy Fund	16.25%	18.14%	4.12%	8.82%	5.97%	13.08%	2.63%	16.82%	5.93%	5.78%	3.59%	2.32%
FIQOX Fidelity Advisor Worldwide Fund Class Z	9.37%	11.60%	26.02%	1.10%	6.51%	12.99%	8.23%	5.09%	9.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERBIX and FIQOX in my portfolio?

With a correlation of 0.92, ERBIX and FIQOX 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, ERBIX or FIQOX?

FIQOX has higher volatility (7.84%) compared to ERBIX (5.25%). In terms of maximum drawdown, ERBIX dropped -29.18% vs FIQOX's -33.64%.

Which has better risk-adjusted returns?

FIQOX currently has the higher Sharpe Ratio (2.28 vs 2.05), 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.