FAERX vs. FZROX
FAERX (Fidelity Advisor Overseas Fund Class M) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FAERX is a Foreign Large Cap Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FAERX returned 2.30%/yr vs 11.97%/yr for FZROX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FAERX charges 1.65%/yr vs 0.00%/yr for FZROX.
Performance
FAERX vs. FZROX - Performance Comparison
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Returns By Period
FAERX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.42%
- 3Y*
- 7.43%
- 5Y*
- 2.30%
- 10Y*
- 7.12%
- ALL TIME*
- 5.57%
FZROX
- 1D
- 0.58%
- 1M
- -0.15%
- 6M
- 8.29%
- YTD
- 10.58%
- 1Y
- 21.91%
- 3Y*
- 19.06%
- 5Y*
- 11.97%
- 10Y*
- —
- ALL TIME*
- 14.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FAERX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FAERX Fidelity Advisor Overseas Fund Class M | 0.00% | 14.70% | 4.40% | 19.78% | -24.77% | 18.63% | 14.43% | 27.14% | -11.43% |
FZROX Fidelity ZERO Total Market Index Fund | 10.58% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FAERX and FZROX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.75 |
Over the past year, the correlation between FAERX and FZROX has dropped to 0.39 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
FAERX vs. FZROX — Risk / Return Rank
FAERX
FZROX
FAERX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class M (FAERX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| FAERX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.27 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 2.24 | -2.59 |
| Martin ratioReturn relative to average drawdown | -0.53 | 9.70 | -10.23 |
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Drawdowns
FAERX vs. FZROX - Drawdown Comparison
The maximum FAERX drawdown since its inception was -60.14%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FAERX and FZROX.
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Drawdown Indicators
| FAERX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.14% | -34.96% | -25.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -8.89% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -19.38% | +5.38% |
Max Drawdown (5Y)Largest decline over 5 years | -36.62% | -25.12% | -11.50% |
Max Drawdown (10Y)Largest decline over 10 years | -36.62% | — | — |
Current DrawdownCurrent decline from peak | -5.89% | -1.28% | -4.61% |
Average DrawdownAverage peak-to-trough decline | -14.34% | -5.43% | -8.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.51% | 2.06% | +2.45% |
Volatility
FAERX vs. FZROX - Volatility Comparison
The current volatility for Fidelity Advisor Overseas Fund Class M (FAERX) is 0.00%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 3.48%. This indicates that FAERX experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAERX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.48% | -3.48% |
Volatility (6M)Calculated over the trailing 6-month period | 0.00% | 10.35% | -10.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.69% | 13.20% | -5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.66% | 17.54% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 20.03% | -3.75% |
FAERX vs. FZROX - Expense Ratio Comparison
FAERX has a 1.65% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
FAERX vs. FZROX - Dividend Comparison
FAERX's dividend yield for the trailing twelve months is around 7.94%, more than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAERX Fidelity Advisor Overseas Fund Class M | 7.94% | 7.94% | 0.96% | 0.51% | 0.12% | 2.07% | 0.00% | 1.15% | 4.25% | 3.35% | 0.80% | 0.09% |
FZROX Fidelity ZERO Total Market Index Fund | 0.93% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAERX and FZROX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FZROX has higher volatility (3.48%) compared to FAERX (0.00%). In terms of maximum drawdown, FAERX dropped -60.14% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.51 vs -0.33), 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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