EXOSX vs. FIVFX

Last updated Jun 23, 2026

EXOSX (Manning & Napier Overseas Series) and FIVFX (Fidelity International Capital Appreciation Fund) are both Foreign Large Cap Equities funds. Their correlation of 0.85 suggests significant overlap in exposure. EXOSX charges 0.75%/yr vs 1.00%/yr for FIVFX.

Performance

EXOSX vs. FIVFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manning & Napier Overseas Series (EXOSX) and Fidelity International Capital Appreciation Fund (FIVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EXOSX

• 1D: 1.01%
• 1M: 2.04%
• YTD: 3.12%
• 6M: 3.51%
• 1Y: 8.66%
• 3Y*: 8.50%
• 5Y*: 2.19%
• 10Y*: 7.66%

FIVFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EXOSX vs. FIVFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXOSX Manning & Napier Overseas Series	3.12%	16.21%	3.33%	19.89%	-24.26%	11.50%	27.07%	27.52%	-17.23%	23.92%
FIVFX Fidelity International Capital Appreciation Fund	0.00%	19.54%	8.05%	27.58%	-26.48%	12.14%	22.32%	33.05%	-12.87%	35.81%

Correlation

The correlation between EXOSX and FIVFX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 10, 2002	0.86

Over the past year, the correlation between EXOSX and FIVFX has dropped to 0.22 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

EXOSX vs. FIVFX — Risk / Return Rank

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

EXOSX

EXOSX Risk / Return Rank: 7
EXOSX Sharpe Ratio Rank: 7
EXOSX Sortino Ratio Rank: 7
EXOSX Omega Ratio Rank: 7
EXOSX Calmar Ratio Rank: 8
EXOSX Martin Ratio Rank: 9

FIVFX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EXOSX vs. FIVFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manning & Napier Overseas Series (EXOSX) and Fidelity International Capital Appreciation Fund (FIVFX). 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.

	EXOSX	FIVFX	Difference
Sharpe ratio: Return per unit of total volatility	0.56	—	—
Sortino ratio: Return per unit of downside risk	0.88	—	—
Omega ratio: Gain probability vs. loss probability	1.10	—	—
Calmar ratio: Return relative to maximum drawdown	0.68	—	—
Martin ratio: Return relative to average drawdown	2.35	—	—

Drawdowns

Drawdown Indicators

	EXOSX	FIVFX	Difference
Max Drawdown Largest peak-to-trough decline	-55.50%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.71%	—	—
Current Drawdown Current decline from peak	-1.68%	—	—
Average Drawdown Average peak-to-trough decline	-11.05%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	—	—

Volatility

Volatility by Period

	EXOSX	FIVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.46%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.70%	—	—

EXOSX vs. FIVFX - Expense Ratio Comparison

EXOSX has a 0.75% expense ratio, which is lower than FIVFX's 1.00% expense ratio.

Dividends

EXOSX vs. FIVFX - Dividend Comparison

EXOSX's dividend yield for the trailing twelve months is around 1.10%, while FIVFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXOSX Manning & Napier Overseas Series	1.10%	1.13%	1.29%	1.27%	0.82%	1.85%	0.86%	1.72%	0.91%	1.79%	1.71%	1.84%
FIVFX Fidelity International Capital Appreciation Fund	10.67%	10.67%	4.19%	0.38%	0.05%	9.08%	1.28%	3.29%	3.00%	2.99%	0.68%	1.57%

Frequently Asked Questions

Can I hold both EXOSX and FIVFX in my portfolio?

EXOSX and FIVFX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.