FAOCX vs. CIOVX
FAOCX (Fidelity Advisor Overseas Fund Class C) and CIOVX (Causeway International Opps Fd) are both Foreign Large Cap Equities funds. Over the past 10 years, FAOCX returned 6.48%/yr vs 11.44%/yr for CIOVX. Their correlation of 0.87 suggests significant overlap in exposure. FAOCX charges 2.25%/yr vs 1.20%/yr for CIOVX.
Performance
FAOCX vs. CIOVX - Performance Comparison
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Returns By Period
Over the past 10 years, FAOCX has underperformed CIOVX with an annualized return of 6.48%, while CIOVX has yielded a comparatively higher 11.44% annualized return.
FAOCX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -1.01%
- 3Y*
- 6.99%
- 5Y*
- 2.79%
- 10Y*
- 6.48%
CIOVX
- 1D
- 0.41%
- 1M
- 4.28%
- YTD
- 14.75%
- 6M
- 15.53%
- 1Y
- 34.85%
- 3Y*
- 22.44%
- 5Y*
- 12.67%
- 10Y*
- 11.44%
FAOCX vs. CIOVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAOCX Fidelity Advisor Overseas Fund Class C | 0.00% | 14.19% | 3.86% | 19.03% | -25.22% | 17.97% | 13.77% | 26.37% | -15.77% | 28.58% |
CIOVX Causeway International Opps Fd | 14.75% | 36.68% | 8.35% | 24.39% | -11.28% | 6.38% | 5.21% | 21.40% | -18.62% | 29.39% |
Correlation
The correlation between FAOCX and CIOVX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.87 |
Over the past year, the correlation between FAOCX and CIOVX has dropped to 0.43 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.
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Return for Risk
FAOCX vs. CIOVX — Risk / Return Rank
FAOCX
CIOVX
FAOCX vs. CIOVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class C (FAOCX) and Causeway International Opps Fd (CIOVX). 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.
| FAOCX | CIOVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.40 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 2.41 | -2.54 |
| Martin ratioReturn relative to average drawdown | -0.21 | 8.66 | -8.88 |
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Drawdowns
FAOCX vs. CIOVX - Drawdown Comparison
The maximum FAOCX drawdown since its inception was -60.45%, which is greater than CIOVX's maximum drawdown of -43.70%. Use the drawdown chart below to compare losses from any high point for FAOCX and CIOVX.
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Drawdown Indicators
| FAOCX | CIOVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -43.70% | -16.75% |
Max Drawdown (1Y)Largest decline over 1 year | -7.33% | -14.92% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -14.05% | -16.43% | +2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -36.96% | -29.10% | -7.86% |
Max Drawdown (10Y)Largest decline over 10 years | -36.96% | -43.70% | +6.74% |
Current DrawdownCurrent decline from peak | -5.90% | 0.00% | -5.90% |
Average DrawdownAverage peak-to-trough decline | -15.61% | -8.58% | -7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 4.12% | +0.05% |
Volatility
FAOCX vs. CIOVX - Volatility Comparison
The current volatility for Fidelity Advisor Overseas Fund Class C (FAOCX) is 0.00%, while Causeway International Opps Fd (CIOVX) has a volatility of 6.96%. This indicates that FAOCX experiences smaller price fluctuations and is considered to be less risky than CIOVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAOCX | CIOVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 6.96% | -6.96% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 14.72% | -11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 16.99% | -8.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 17.40% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.64% | 18.48% | -1.84% |
FAOCX vs. CIOVX - Expense Ratio Comparison
FAOCX has a 2.25% expense ratio, which is higher than CIOVX's 1.20% expense ratio.
Dividends
FAOCX vs. CIOVX - Dividend Comparison
FAOCX's dividend yield for the trailing twelve months is around 8.26%, more than CIOVX's 7.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIOVX Causeway International Opps Fd | 7.60% | 8.72% | 9.86% | 2.51% | 2.52% | 1.38% | 1.20% | 2.34% | 2.53% | 1.33% | 3.74% | 1.44% |
FAOCX Fidelity Advisor Overseas Fund Class C | 8.26% | 8.26% | 0.40% | 0.00% | 0.00% | 2.22% | 0.00% | 0.51% | 3.72% | 3.07% | 0.12% | 0.00% |
Frequently Asked Questions
FAOCX and CIOVX 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.
CIOVX has higher volatility (6.96%) compared to FAOCX (0.00%). In terms of maximum drawdown, FAOCX dropped -60.45% vs CIOVX's -43.70%.
CIOVX currently has the higher Sharpe Ratio (2.12 vs -0.11), 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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