FAOAX vs. KGIIX

Last updated Jun 23, 2026

FAOAX (Fidelity Advisor Overseas Fund Class A) and KGIIX (Kopernik International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, FAOAX returned 7.35%/yr vs 9.50%/yr for KGIIX. At a 0.50 correlation, their price movements are largely independent. FAOAX charges 1.43%/yr vs 1.04%/yr for KGIIX.

Performance

FAOAX vs. KGIIX - Performance Comparison

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

Returns By Period

Over the past 10 years, FAOAX has underperformed KGIIX with an annualized return of 7.35%, while KGIIX has yielded a comparatively higher 9.50% annualized return.

FAOAX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.14%
• 3Y*: 7.64%
• 5Y*: 3.50%
• 10Y*: 7.35%

KGIIX

• 1D: -1.47%
• 1M: -3.21%
• YTD: 5.23%
• 6M: 5.37%
• 1Y: 28.39%
• 3Y*: 16.79%
• 5Y*: 8.57%
• 10Y*: 9.50%

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

FAOAX vs. KGIIX - 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%
KGIIX Kopernik International Fund	5.23%	54.97%	-7.01%	13.86%	-14.05%	16.62%	18.94%	16.37%	-6.24%	10.50%

Correlation

The correlation between FAOAX and KGIIX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.50

Over the past year, the correlation between FAOAX and KGIIX has dropped to 0.24 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

FAOAX vs. KGIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 2
FAOAX Calmar Ratio Rank: 2
FAOAX Martin Ratio Rank: 2

KGIIX

KGIIX Risk / Return Rank: 54
KGIIX Sharpe Ratio Rank: 57
KGIIX Sortino Ratio Rank: 48
KGIIX Omega Ratio Rank: 53
KGIIX Calmar Ratio Rank: 70
KGIIX Martin Ratio Rank: 43

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.

FAOAX vs. KGIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class A (FAOAX) and Kopernik International Fund (KGIIX). 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	KGIIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	2.05	-2.11
Sortino ratio: Return per unit of downside risk	-0.03	2.67	-2.70
Omega ratio: Gain probability vs. loss probability	1.00	1.37	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.08	3.08	-3.16
Martin ratio: Return relative to average drawdown	-0.13	8.60	-8.72

FAOAX vs. KGIIX - Sharpe Ratio Comparison

The current FAOAX Sharpe Ratio is -0.07, which is lower than the KGIIX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FAOAX and KGIIX, 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. KGIIX - Drawdown Comparison

The maximum FAOAX drawdown since its inception was -60.03%, which is greater than KGIIX's maximum drawdown of -27.81%. Use the drawdown chart below to compare losses from any high point for FAOAX and KGIIX.

Drawdown Indicators

	FAOAX	KGIIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.03%	-27.81%	-32.22%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-8.76%	+1.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.99%	-13.58%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-36.50%	-27.81%	-8.69%
Max Drawdown (10Y) Largest decline over 10 years	-36.50%	-27.81%	-8.69%
Current Drawdown Current decline from peak	-5.87%	-8.26%	+2.39%
Average Drawdown Average peak-to-trough decline	-14.54%	-6.11%	-8.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	3.14%	+1.01%

Volatility

FAOAX vs. KGIIX - Volatility Comparison

The current volatility for Fidelity Advisor Overseas Fund Class A (FAOAX) is 0.00%, while Kopernik International Fund (KGIIX) has a volatility of 3.68%. This indicates that FAOAX experiences smaller price fluctuations and is considered to be less risky than KGIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAOAX	KGIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	3.68%	-3.68%
Volatility (6M) Calculated over the trailing 6-month period	3.63%	10.73%	-7.10%
Volatility (1Y) Calculated over the trailing 1-year period	8.76%	13.21%	-4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.71%	13.26%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.64%	12.66%	+3.98%

FAOAX vs. KGIIX - Expense Ratio Comparison

FAOAX has a 1.43% expense ratio, which is higher than KGIIX's 1.04% expense ratio.

Dividends

FAOAX vs. KGIIX - Dividend Comparison

FAOAX's dividend yield for the trailing twelve months is around 8.54%, less than KGIIX's 13.55% 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%
KGIIX Kopernik International Fund	13.55%	14.26%	0.48%	12.56%	2.46%	5.77%	2.89%	2.50%	1.19%	1.35%	0.33%	0.00%

Frequently Asked Questions

Can I hold both FAOAX and KGIIX in my portfolio?

FAOAX and KGIIX have a correlation of 0.24, 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 KGIIX?

KGIIX has higher volatility (3.68%) compared to FAOAX (0.00%). In terms of maximum drawdown, FAOAX dropped -60.03% vs KGIIX's -27.81%.

Which has better risk-adjusted returns?

KGIIX currently has the higher Sharpe Ratio (2.05 vs -0.07), 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.