FAMKX vs. FEMSX
FAMKX (Fidelity Advisor Focused Emerging Markets Fund Class A) and FEMSX (Fidelity Series Emerging Markets Opportunities Fund) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FAMKX returned 12.80%/yr vs 13.30%/yr for FEMSX. With a 0.97 correlation, they move nearly in lockstep. FAMKX charges 1.32%/yr vs 0.01%/yr for FEMSX.
Performance
FAMKX vs. FEMSX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FAMKX having a 31.56% return and FEMSX slightly higher at 32.13%. Both investments have delivered pretty close results over the past 10 years, with FAMKX having a 12.80% annualized return and FEMSX not far ahead at 13.30%.
FAMKX
- 1D
- -1.52%
- 1M
- 10.10%
- YTD
- 31.56%
- 6M
- 35.06%
- 1Y
- 65.76%
- 3Y*
- 28.12%
- 5Y*
- 8.76%
- 10Y*
- 12.80%
FEMSX
- 1D
- -1.15%
- 1M
- 7.85%
- YTD
- 32.13%
- 6M
- 36.21%
- 1Y
- 63.17%
- 3Y*
- 28.15%
- 5Y*
- 8.38%
- 10Y*
- 13.30%
FAMKX vs. FEMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A | 31.56% | 39.76% | 9.01% | 8.12% | -20.09% | -2.90% | 30.05% | 29.29% | -18.32% | 46.52% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 32.13% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
Correlation
The correlation between FAMKX and FEMSX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2008 | 0.97 |
The correlation between FAMKX and FEMSX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
FAMKX vs. FEMSX — Risk / Return Rank
FAMKX
FEMSX
FAMKX vs. FEMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). 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.
| FAMKX | FEMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.63 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 4.88 | +0.06 |
| Martin ratioReturn relative to average drawdown | 20.11 | 19.45 | +0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FAMKX | FEMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.75 | 3.45 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.44 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.69 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.57 | -0.12 |
Drawdowns
FAMKX vs. FEMSX - Drawdown Comparison
The maximum FAMKX drawdown since its inception was -70.11%, which is greater than FEMSX's maximum drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for FAMKX and FEMSX.
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Drawdown Indicators
| FAMKX | FEMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.11% | -44.16% | -25.95% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -13.42% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -18.84% | -17.04% | -1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -40.76% | -41.64% | +0.88% |
Max Drawdown (10Y)Largest decline over 10 years | -42.16% | -44.16% | +2.00% |
Current DrawdownCurrent decline from peak | -1.52% | -1.15% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -20.45% | -13.40% | -7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.36% | 0.00% |
Volatility
FAMKX vs. FEMSX - Volatility Comparison
Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX) have volatilities of 8.18% and 8.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAMKX | FEMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.18% | 8.12% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 16.46% | -0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 18.99% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 19.04% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.82% | 19.34% | -0.52% |
FAMKX vs. FEMSX - Expense Ratio Comparison
FAMKX has a 1.32% expense ratio, which is higher than FEMSX's 0.01% expense ratio.
Dividends
FAMKX vs. FEMSX - Dividend Comparison
FAMKX's dividend yield for the trailing twelve months is around 1.01%, less than FEMSX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A | 1.01% | 1.33% | 0.74% | 1.25% | 0.76% | 4.87% | 1.84% | 10.64% | 0.17% | 0.10% | 0.03% | 0.00% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 1.85% | 2.45% | 2.08% | 2.82% | 2.39% | 12.83% | 2.99% | 2.48% | 9.42% | 8.98% | 1.46% | 1.27% |
Frequently Asked Questions
With a correlation of 0.95, FAMKX and FEMSX 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.
FAMKX has higher volatility (8.18%) compared to FEMSX (8.12%). In terms of maximum drawdown, FAMKX dropped -70.11% vs FEMSX's -44.16%.
FAMKX currently has the higher Sharpe Ratio (3.75 vs 3.44), 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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