FAOAX vs. GIOTX

Last updated Aug 1, 2026

FAOAX (Fidelity Advisor Overseas Fund Class A) and GIOTX (GMO International Developed Equity Allocation Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, FAOAX returned 7.41%/yr vs 12.16%/yr for GIOTX. Their correlation of 0.91 means they have usually moved in the same direction. FAOAX charges 1.43%/yr vs 0.00%/yr for GIOTX.

Performance

FAOAX vs. GIOTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Overseas Fund Class A (FAOAX) and GMO International Developed Equity Allocation Fund (GIOTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, FAOAX has underperformed GIOTX with an annualized return of 7.41%, while GIOTX has yielded a comparatively higher 12.16% annualized return.

FAOAX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: -0.36%
• 3Y*: 7.62%
• 5Y*: 2.49%
• 10Y*: 7.41%
• ALL TIME*: 5.44%

GIOTX

• 1D: 3.10%
• 1M: 3.56%
• 6M: 14.12%
• YTD: 21.36%
• 1Y: 41.77%
• 3Y*: 26.17%
• 5Y*: 15.33%
• 10Y*: 12.16%
• ALL TIME*: 6.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAOAX Fidelity Advisor Overseas Fund Class A	$0.00	$0.00	$0.00
GIOTX GMO International Developed Equity Allocation Fund	$0.00	$0.00	$0.00

FAOAX vs. GIOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAOAX Fidelity Advisor Overseas Fund Class A	0.00%	14.93%	4.63%	20.01%	-24.61%	18.90%	14.71%	27.39%	-15.10%	29.66%
GIOTX GMO International Developed Equity Allocation Fund	21.36%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	26.38%

Correlation

The correlation between FAOAX and GIOTX is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.43
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.91

Over the past year, the correlation between FAOAX and GIOTX has dropped to 0.43 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

FAOAX vs. GIOTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAOAX

FAOAX Risk / Return Rank: 2
FAOAX Sharpe Ratio Rank: 2
FAOAX Sortino Ratio Rank: 2
FAOAX Omega Ratio Rank: 1
FAOAX Calmar Ratio Rank: 2
FAOAX Martin Ratio Rank: 3

GIOTX

GIOTX Risk / Return Rank: 92
GIOTX Sharpe Ratio Rank: 95
GIOTX Sortino Ratio Rank: 91
GIOTX Omega Ratio Rank: 88
GIOTX Calmar Ratio Rank: 93
GIOTX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAOAX vs. GIOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class A (FAOAX) and GMO International Developed Equity Allocation Fund (GIOTX). 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.

	FAOAX	GIOTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.32	2.54	-2.86
Sortino ratio: Return per unit of downside risk	-0.39	3.49	-3.88
Omega ratio: Gain probability vs. loss probability	0.93	1.46	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.34	3.85	-4.19
Martin ratio: Return relative to average drawdown	-0.52	14.97	-15.49

FAOAX vs. GIOTX - Sharpe Ratio Comparison

The current FAOAX Sharpe Ratio is -0.32, which is lower than the GIOTX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of FAOAX and GIOTX, 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

FAOAX vs. GIOTX - Drawdown Comparison

The maximum FAOAX drawdown since its inception was -60.03%, which is greater than GIOTX's maximum drawdown of -56.51%. Use the drawdown chart below to compare losses from any high point for FAOAX and GIOTX.

Drawdown Indicators

	FAOAX	GIOTX	Difference
Max Drawdown Largest peak-to-trough decline	-60.03%	-56.51%	-3.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-10.66%	+3.37%
Max Drawdown (3Y) Largest decline over 3 years	-13.99%	-13.40%	-0.59%
Max Drawdown (5Y) Largest decline over 5 years	-36.50%	-28.34%	-8.16%
Max Drawdown (10Y) Largest decline over 10 years	-36.50%	-39.29%	+2.79%
Current Drawdown Current decline from peak	-5.87%	0.00%	-5.87%
Average Drawdown Average peak-to-trough decline	-14.52%	-14.13%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	2.74%	+1.75%

Volatility

FAOAX vs. GIOTX - Volatility Comparison

The current volatility for Fidelity Advisor Overseas Fund Class A (FAOAX) is 0.00%, while GMO International Developed Equity Allocation Fund (GIOTX) has a volatility of 5.21%. This indicates that FAOAX experiences smaller price fluctuations and is considered to be less risky than GIOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAOAX	GIOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	5.21%	-5.21%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	13.48%	-13.48%
Volatility (1Y) Calculated over the trailing 1-year period	7.67%	16.22%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.65%	15.55%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.28%	16.17%	+0.11%

FAOAX vs. GIOTX - Expense Ratio Comparison

FAOAX has a 1.43% expense ratio, which is higher than GIOTX's 0.00% expense ratio.

Dividends

FAOAX vs. GIOTX - Dividend Comparison

FAOAX's dividend yield for the trailing twelve months is around 8.54%, more than GIOTX's 8.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAOAX Fidelity Advisor Overseas Fund Class A	8.54%	8.54%	1.33%	0.74%	0.38%	2.12%	0.00%	1.37%	4.64%	3.64%	1.75%	0.38%
GIOTX GMO International Developed Equity Allocation Fund	8.39%	8.04%	5.07%	6.54%	4.45%	6.67%	4.48%	3.74%	3.90%	3.15%	4.04%	3.39%

Frequently Asked Questions

Can I hold both FAOAX and GIOTX in my portfolio?

FAOAX and GIOTX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAOAX or GIOTX?

GIOTX has higher volatility (5.21%) compared to FAOAX (0.00%). In terms of maximum drawdown, FAOAX dropped -60.03% vs GIOTX's -56.51%.

Which has better risk-adjusted returns?

GIOTX currently has the higher Sharpe Ratio (2.54 vs -0.32), 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.