FAERX vs. KGIIX

Last updated Jun 26, 2026

FAERX (Fidelity Advisor Overseas Fund Class M) and KGIIX (Kopernik International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, FAERX returned 7.76%/yr vs 9.03%/yr for KGIIX. At a 0.50 correlation, their price movements are largely independent. FAERX charges 1.65%/yr vs 1.04%/yr for KGIIX.

Performance

FAERX vs. KGIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Overseas Fund Class M (FAERX) and Kopernik International Fund (KGIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, FAERX has underperformed KGIIX with an annualized return of 7.76%, while KGIIX has yielded a comparatively higher 9.03% annualized return.

FAERX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -1.83%
• 3Y*: 8.72%
• 5Y*: 2.85%
• 10Y*: 7.76%

KGIIX

• 1D: -1.92%
• 1M: -7.64%
• YTD: 1.10%
• 6M: 0.51%
• 1Y: 21.18%
• 3Y*: 16.28%
• 5Y*: 7.35%
• 10Y*: 9.03%

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

FAERX vs. KGIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAERX Fidelity Advisor Overseas Fund Class M	0.00%	14.70%	4.40%	19.78%	-24.77%	18.63%	14.43%	27.14%	-15.25%	29.37%
KGIIX Kopernik International Fund	1.10%	54.97%	-7.01%	13.86%	-14.05%	16.62%	18.94%	16.37%	-6.24%	10.50%

Correlation

The correlation between FAERX and KGIIX 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	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.50

Over the past year, the correlation between FAERX and KGIIX has dropped to 0.22 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

FAERX vs. KGIIX — Risk / Return Rank

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

FAERX

FAERX Risk / Return Rank: 2
FAERX Sharpe Ratio Rank: 2
FAERX Sortino Ratio Rank: 2
FAERX Omega Ratio Rank: 2
FAERX Calmar Ratio Rank: 2
FAERX Martin Ratio Rank: 2

KGIIX

KGIIX Risk / Return Rank: 37
KGIIX Sharpe Ratio Rank: 43
KGIIX Sortino Ratio Rank: 37
KGIIX Omega Ratio Rank: 41
KGIIX Calmar Ratio Rank: 31
KGIIX Martin Ratio Rank: 33

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.

FAERX vs. KGIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class M (FAERX) and Kopernik International Fund (KGIIX). 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	KGIIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.29	1.60	-1.89
Sortino ratio: Return per unit of downside risk	-0.34	2.13	-2.46
Omega ratio: Gain probability vs. loss probability	0.95	1.29	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.34	1.80	-2.14
Martin ratio: Return relative to average drawdown	-0.55	6.38	-6.93

FAERX vs. KGIIX - Sharpe Ratio Comparison

The current FAERX Sharpe Ratio is -0.29, which is lower than the KGIIX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FAERX and KGIIX, 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

FAERX vs. KGIIX - Drawdown Comparison

The maximum FAERX drawdown since its inception was -60.14%, which is greater than KGIIX's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for FAERX and KGIIX.

Drawdown Indicators

	FAERX	KGIIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.14%	-27.81%	-32.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-11.85%	+4.56%
Max Drawdown (3Y) Largest decline over 3 years	-14.00%	-13.58%	-0.42%
Max Drawdown (5Y) Largest decline over 5 years	-36.62%	-27.81%	-8.81%
Max Drawdown (10Y) Largest decline over 10 years	-36.62%	-27.81%	-8.81%
Current Drawdown Current decline from peak	-5.89%	-11.85%	+5.96%
Average Drawdown Average peak-to-trough decline	-14.36%	-6.11%	-8.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	3.34%	+0.85%

Volatility

FAERX vs. KGIIX - Volatility Comparison

The current volatility for Fidelity Advisor Overseas Fund Class M (FAERX) is 0.00%, while Kopernik International Fund (KGIIX) has a volatility of 4.14%. This indicates that FAERX experiences smaller price fluctuations and is considered to be less risky than KGIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAERX	KGIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	4.14%	-4.14%
Volatility (6M) Calculated over the trailing 6-month period	3.50%	10.99%	-7.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.72%	13.37%	-4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	13.30%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	12.67%	+3.70%

FAERX vs. KGIIX - Expense Ratio Comparison

FAERX has a 1.65% expense ratio, which is higher than KGIIX's 1.04% expense ratio.

Dividends

FAERX vs. KGIIX - Dividend Comparison

FAERX's dividend yield for the trailing twelve months is around 7.94%, less than KGIIX's 14.11% 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%
KGIIX Kopernik International Fund	14.11%	14.26%	0.48%	12.56%	2.46%	5.77%	2.89%	2.50%	1.19%	1.35%	0.33%	0.00%

Frequently Asked Questions

Can I hold both FAERX and KGIIX in my portfolio?

FAERX and KGIIX 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.

Which is riskier, FAERX or KGIIX?

KGIIX has higher volatility (4.14%) compared to FAERX (0.00%). In terms of maximum drawdown, FAERX dropped -60.14% vs KGIIX's -27.81%.

Which has better risk-adjusted returns?

KGIIX currently has the higher Sharpe Ratio (1.60 vs -0.29), 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.