FAMKX vs. GMAQX
FAMKX (Fidelity Advisor Focused Emerging Markets Fund Class A) and GMAQX (GMO Emerging Markets ex-China Fund) are both Emerging Markets Equities funds. Over the past 3 years, FAMKX returned 21.40%/yr vs 25.92%/yr for GMAQX. Their correlation of 0.81 means they have usually moved in the same direction. FAMKX charges 1.32%/yr vs 0.67%/yr for GMAQX.
Performance
FAMKX vs. GMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, FAMKX achieves a 20.34% return, which is significantly lower than GMAQX's 37.39% return.
FAMKX
- 1D
- 4.16%
- 1M
- -2.85%
- 6M
- 8.85%
- YTD
- 20.34%
- 1Y
- 41.86%
- 3Y*
- 21.40%
- 5Y*
- 8.98%
- 10Y*
- 11.17%
- ALL TIME*
- 9.02%
GMAQX
- 1D
- 3.87%
- 1M
- -3.47%
- 6M
- 24.02%
- YTD
- 37.39%
- 1Y
- 60.19%
- 3Y*
- 25.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.05%
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 |
FAMKX vs. GMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A | 20.34% | 39.76% | 9.01% | 8.12% | -20.09% | -4.09% |
GMAQX GMO Emerging Markets ex-China Fund | 37.39% | 32.09% | 0.62% | 27.41% | -32.38% | 0.47% |
Correlation
The correlation between FAMKX and GMAQX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2021 | 0.81 |
The correlation between FAMKX and GMAQX has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
FAMKX vs. GMAQX — Risk / Return Rank
FAMKX
GMAQX
FAMKX vs. GMAQX - 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 GMO Emerging Markets ex-China Fund (GMAQX). 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.
| FAMKX | GMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.45 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 3.49 | -0.62 |
| Martin ratioReturn relative to average drawdown | 8.76 | 11.14 | -2.38 |
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Drawdowns
FAMKX vs. GMAQX - Drawdown Comparison
The maximum FAMKX drawdown since its inception was -70.11%, which is greater than GMAQX's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for FAMKX and GMAQX.
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Drawdown Indicators
| FAMKX | GMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.11% | -41.97% | -28.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -16.27% | +2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -18.84% | -19.64% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -36.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.16% | — | — |
Current DrawdownCurrent decline from peak | -9.92% | -13.02% | +3.10% |
Average DrawdownAverage peak-to-trough decline | -20.36% | -16.45% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 5.09% | -0.60% |
Volatility
FAMKX vs. GMAQX - Volatility Comparison
The current volatility for Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) is 9.09%, while GMO Emerging Markets ex-China Fund (GMAQX) has a volatility of 9.63%. This indicates that FAMKX experiences smaller price fluctuations and is considered to be less risky than GMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAMKX | GMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 9.63% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 20.31% | 23.87% | -3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.33% | 25.42% | -3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.71% | 18.28% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 18.28% | +0.90% |
FAMKX vs. GMAQX - Expense Ratio Comparison
FAMKX has a 1.32% expense ratio, which is higher than GMAQX's 0.67% expense ratio.
Dividends
FAMKX vs. GMAQX - Dividend Comparison
FAMKX's dividend yield for the trailing twelve months is around 1.10%, less than GMAQX's 12.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAMKX Fidelity Advisor Focused Emerging Markets Fund Class A | 1.10% | 1.33% | 0.74% | 1.25% | 0.76% | 4.87% | 1.84% | 10.64% | 0.17% | 0.10% | 0.03% |
GMAQX GMO Emerging Markets ex-China Fund | 12.03% | 9.43% | 32.28% | 6.76% | 4.94% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAMKX and GMAQX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMAQX has higher volatility (9.63%) compared to FAMKX (9.09%). In terms of maximum drawdown, FAMKX dropped -70.11% vs GMAQX's -41.97%.
GMAQX currently has the higher Sharpe Ratio (2.23 vs 1.77), 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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