FAMKX vs. FIQGX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX).

FAMKX is managed by Fidelity. It was launched on Mar 29, 2004. FIQGX is managed by Fidelity. It was launched on Oct 2, 2018.

Performance

FAMKX vs. FIQGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX). The values are adjusted to include any dividend payments, if applicable.

FAMKX vs. FIQGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A	0.85%	39.76%	9.01%	8.12%	-20.09%	-2.90%	30.05%	29.29%	-2.72%
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z	4.17%	31.96%	-3.54%	20.94%	-11.74%	6.86%	17.11%	19.81%	-1.18%

Returns By Period

In the year-to-date period, FAMKX achieves a 0.85% return, which is significantly lower than FIQGX's 4.17% return.

FAMKX

• 1D: -0.97%
• 1M: -13.15%
• YTD: 0.85%
• 6M: 6.45%
• 1Y: 32.95%
• 3Y*: 17.10%
• 5Y*: 4.48%
• 10Y*: 10.07%

FIQGX

• 1D: -0.79%
• 1M: -9.22%
• YTD: 4.17%
• 6M: 10.33%
• 1Y: 35.33%
• 3Y*: 15.07%
• 5Y*: 7.84%
• 10Y*: —

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

FAMKX vs. FIQGX - Expense Ratio Comparison

FAMKX has a 1.32% expense ratio, which is higher than FIQGX's 1.05% expense ratio.

FAMKX

Fidelity Advisor Focused Emerging Markets Fund Class A

FIQGX

Fidelity Advisor Emerging Markets Discovery Fund Class Z

Return for Risk

FAMKX vs. FIQGX — Risk / Return Rank

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

FAMKX

FAMKX Risk / Return Rank: 85
FAMKX Sharpe Ratio Rank: 87
FAMKX Sortino Ratio Rank: 85
FAMKX Omega Ratio Rank: 83
FAMKX Calmar Ratio Rank: 85
FAMKX Martin Ratio Rank: 82

FIQGX

FIQGX Risk / Return Rank: 94
FIQGX Sharpe Ratio Rank: 96
FIQGX Sortino Ratio Rank: 94
FIQGX Omega Ratio Rank: 93
FIQGX Calmar Ratio Rank: 95
FIQGX Martin Ratio Rank: 94

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.

FAMKX vs. FIQGX - 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 Advisor Emerging Markets Discovery Fund Class Z (FIQGX). 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	FIQGX	Difference
Sharpe ratio Return per unit of total volatility	1.74	2.40	-0.66
Sortino ratio Return per unit of downside risk	2.22	3.00	-0.78
Omega ratio Gain probability vs. loss probability	1.34	1.46	-0.12
Calmar ratio Return relative to maximum drawdown	2.13	3.20	-1.07
Martin ratio Return relative to average drawdown	8.25	12.72	-4.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAMKX vs. FIQGX - Sharpe Ratio Comparison

The current FAMKX Sharpe Ratio is 1.74, which is comparable to the FIQGX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of FAMKX and FIQGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FAMKX	FIQGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.40	-0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.56	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.63	-0.24

Correlation

The correlation between FAMKX and FIQGX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FAMKX vs. FIQGX - Dividend Comparison

FAMKX's dividend yield for the trailing twelve months is around 1.32%, less than FIQGX's 4.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A	1.32%	1.33%	0.74%	1.25%	0.76%	4.87%	1.84%	10.64%	0.17%	0.10%	0.03%
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z	4.68%	4.87%	4.07%	2.20%	1.86%	12.04%	0.71%	1.22%	2.16%	0.00%	0.00%

Drawdowns

FAMKX vs. FIQGX - Drawdown Comparison

The maximum FAMKX drawdown since its inception was -70.11%, which is greater than FIQGX's maximum drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for FAMKX and FIQGX.

Drawdown Indicators

	FAMKX	FIQGX	Difference
Max Drawdown Largest peak-to-trough decline	-70.11%	-38.41%	-31.70%
Max Drawdown (1Y) Largest decline over 1 year	-13.73%	-9.94%	-3.79%
Max Drawdown (5Y) Largest decline over 5 years	-40.76%	-27.36%	-13.40%
Max Drawdown (10Y) Largest decline over 10 years	-42.16%	—	—
Current Drawdown Current decline from peak	-13.73%	-9.55%	-4.18%
Average Drawdown Average peak-to-trough decline	-20.60%	-7.02%	-13.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.50%	+1.05%

Volatility

FAMKX vs. FIQGX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) has a higher volatility of 8.51% compared to Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX) at 6.47%. This indicates that FAMKX's price experiences larger fluctuations and is considered to be riskier than FIQGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAMKX	FIQGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.51%	6.47%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	9.76%	+3.33%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	14.37%	+4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.46%	13.98%	+4.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	16.76%	+1.80%