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FAMKX vs. VEMAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FAMKX vs. VEMAX

Last updated Jun 4, 2026

FAMKX (Fidelity Advisor Focused Emerging Markets Fund Class A) and VEMAX (Vanguard Emerging Markets Stock Index Fund Admiral Shares) are both Emerging Markets Equities funds. Over the past 10 years, FAMKX returned 12.97%/yr vs 8.90%/yr for VEMAX. Their correlation of 0.95 suggests significant overlap in exposure. FAMKX charges 1.32%/yr vs 0.14%/yr for VEMAX.

Performance

FAMKX vs. VEMAX - 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 Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FAMKX achieves a 33.58% return, which is significantly higher than VEMAX's 12.58% return. Over the past 10 years, FAMKX has outperformed VEMAX with an annualized return of 12.97%, while VEMAX has yielded a comparatively lower 8.90% annualized return.

FAMKX

1D
2.02%
1M
13.68%
YTD
33.58%
6M
37.50%
1Y
69.96%
3Y*
28.77%
5Y*
9.34%
10Y*
12.97%

VEMAX

1D
-1.22%
1M
2.24%
YTD
12.58%
6M
13.96%
1Y
29.94%
3Y*
18.14%
5Y*
5.20%
10Y*
8.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FAMKX vs. VEMAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FAMKX
Fidelity Advisor Focused Emerging Markets Fund Class A		33.58%39.76%9.01%8.12%-20.09%-2.90%30.05%29.29%-18.32%46.52%
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		12.58%24.76%11.34%8.82%-17.79%0.85%15.24%20.29%-14.59%31.37%

Correlation

The correlation between FAMKX and VEMAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (10Y)
Calculated over the trailing 10-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2006

0.95

The correlation between FAMKX and VEMAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

FAMKX vs. VEMAX - Sectors Allocation Comparison

Sectors
FAMKX
VEMAX

Technology

27.0%
29.6%

Financial Services

23.8%
19.5%

Industrials

12.3%
8.0%

Communication Services

9.2%
7.1%

Basic Materials

8.0%
8.0%

Consumer Cyclical

7.7%
10.7%

Energy

6.0%
4.6%

Healthcare

3.7%
3.9%

Consumer Defensive

2.3%
3.7%

Real Estate

-

2.2%

Utilities

-

2.9%

Technology

FAMKX
27.0%
VEMAX
29.6%

Financial Services

FAMKX
23.8%
VEMAX
19.5%

Industrials

FAMKX
12.3%
VEMAX
8.0%

Communication Services

FAMKX
9.2%
VEMAX
7.1%

Basic Materials

FAMKX
8.0%
VEMAX
8.0%

Consumer Cyclical

FAMKX
7.7%
VEMAX
10.7%

Energy

FAMKX
6.0%
VEMAX
4.6%

Healthcare

FAMKX
3.7%
VEMAX
3.9%

Consumer Defensive

FAMKX
2.3%
VEMAX
3.7%

Real Estate

FAMKX

-

VEMAX
2.2%

Utilities

FAMKX

-

VEMAX
2.9%

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Fidelity Advisor Focused Emerging Markets Fund Class A

Vanguard Emerging Markets Stock Index Fund Admiral Shares

Often compared with FAMKX:
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Often compared with VEMAX:
VEMAX vs. VWOVEMAX vs. VTMGXVEMAX vs. VFIAXVEMAX vs. FPADXVEMAX vs. FEMKXVEMAX vs. FSPSXVEMAX vs. VINEX

Return for Risk

FAMKX vs. VEMAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FAMKX
FAMKX Risk / Return Rank: 9494
Overall Rank
FAMKX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
FAMKX Sortino Ratio Rank: 9494
Sortino Ratio Rank
FAMKX Omega Ratio Rank: 9393
Omega Ratio Rank
FAMKX Calmar Ratio Rank: 9393
Calmar Ratio Rank
FAMKX Martin Ratio Rank: 9494
Martin Ratio Rank
VEMAX
VEMAX Risk / Return Rank: 5252
Overall Rank
VEMAX Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
VEMAX Sortino Ratio Rank: 5151
Sortino Ratio Rank
VEMAX Omega Ratio Rank: 5151
Omega Ratio Rank
VEMAX Calmar Ratio Rank: 5454
Calmar Ratio Rank
VEMAX Martin Ratio Rank: 5151
Martin Ratio Rank
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. VEMAX - 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 Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX). 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.

FAMKXVEMAXDifference
Sharpe ratioReturn per unit of total volatility
3.91
2.17

+1.74

Sortino ratioReturn per unit of downside risk
4.84
3.00

+1.84

Omega ratioGain probability vs. loss probability

1.72

1.40

+0.32

Calmar ratioReturn relative to maximum drawdown

5.13

2.83

+2.30

Martin ratioReturn relative to average drawdown

20.90

10.53

+10.37

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. VEMAX - Sharpe Ratio Comparison

The current FAMKX Sharpe Ratio is 3.91, which is higher than the VEMAX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FAMKX and VEMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FAMKXVEMAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.91

2.17

+1.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.34

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.54

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.29

+0.15

Drawdowns

FAMKX vs. VEMAX - Drawdown Comparison

The maximum FAMKX drawdown since its inception was -70.11%, which is greater than VEMAX's maximum drawdown of -66.45%. Use the drawdown chart below to compare losses from any high point for FAMKX and VEMAX.

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Drawdown Indicators

FAMKXVEMAXDifference

Max Drawdown

Largest peak-to-trough decline

-70.11%

-66.45%

-3.66%

Max Drawdown (1Y)

Largest decline over 1 year

-13.73%

-11.05%

-2.68%

Max Drawdown (3Y)

Largest decline over 3 years

-18.84%

-15.78%

-3.06%

Max Drawdown (5Y)

Largest decline over 5 years

-40.76%

-32.55%

-8.21%

Max Drawdown (10Y)

Largest decline over 10 years

-42.16%

-36.11%

-6.05%

Current Drawdown

Current decline from peak

0.00%

-1.22%

+1.22%

Average Drawdown

Average peak-to-trough decline

-20.46%

-16.12%

-4.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

2.96%

+0.40%

Volatility

FAMKX vs. VEMAX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class A (FAMKX) has a higher volatility of 7.88% compared to Vanguard Emerging Markets Stock Index Fund Admiral Shares (VEMAX) at 5.21%. This indicates that FAMKX's price experiences larger fluctuations and is considered to be riskier than VEMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FAMKXVEMAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.88%

5.21%

+2.67%

Volatility (6M)

Calculated over the trailing 6-month period

15.44%

11.87%

+3.57%

Volatility (1Y)

Calculated over the trailing 1-year period

18.00%

14.37%

+3.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.92%

15.39%

+3.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.82%

16.46%

+2.36%

FAMKX vs. VEMAX - Expense Ratio Comparison

FAMKX has a 1.32% expense ratio, which is higher than VEMAX's 0.14% expense ratio.

Dividends

FAMKX vs. VEMAX - Dividend Comparison

FAMKX's dividend yield for the trailing twelve months is around 1.00%, less than VEMAX's 2.36% yield.

PositionTTM20252024202320222021202020192018201720162015
FAMKX
Fidelity Advisor Focused Emerging Markets Fund Class A		1.00%1.33%0.74%1.25%0.76%4.87%1.84%10.64%0.17%0.10%0.03%0.00%
VEMAX
Vanguard Emerging Markets Stock Index Fund Admiral Shares		2.36%2.74%3.13%3.47%4.05%2.57%1.87%3.20%2.85%2.31%2.51%3.25%

Frequently Asked Questions

With a correlation of 0.92, FAMKX and VEMAX 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 (7.88%) compared to VEMAX (5.21%). In terms of maximum drawdown, FAMKX dropped -70.11% vs VEMAX's -66.45%.

FAMKX currently has the higher Sharpe Ratio (3.91 vs 2.17), 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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