FAOIX vs. FAOAX

Last updated Jun 24, 2026

FAOIX (Fidelity Advisor Overseas Fund Class I) and FAOAX (Fidelity Advisor Overseas Fund Class A) are both Foreign Large Cap Equities funds from Fidelity. Over the past 10 years, FAOIX returned 7.58%/yr vs 7.35%/yr for FAOAX. With a 0.99 correlation, they move nearly in lockstep. FAOIX charges 1.12%/yr vs 1.43%/yr for FAOAX.

Performance

FAOIX vs. FAOAX - Performance Comparison

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

Returns By Period

Both investments have delivered pretty close results over the past 10 years, with FAOIX having a 7.58% annualized return and FAOAX not far behind at 7.35%.

FAOIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -0.58%
• 3Y*: 7.90%
• 5Y*: 3.78%
• 10Y*: 7.58%

FAOAX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -0.69%
• 3Y*: 7.64%
• 5Y*: 3.50%
• 10Y*: 7.35%

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

FAOIX vs. FAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAOIX Fidelity Advisor Overseas Fund Class I	0.00%	15.25%	4.92%	20.35%	-24.38%	19.23%	15.08%	27.82%	-14.85%	30.05%
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%

Correlation

The correlation between FAOIX and FAOAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Dec 31, 1993	0.99

The correlation between FAOIX and FAOAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FAOIX vs. FAOAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FAOIX

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

FAOAX

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

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.

FAOIX vs. FAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class I (FAOIX) and Fidelity Advisor Overseas Fund Class A (FAOAX). 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.

	FAOIX	FAOAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.05	-0.07	+0.01
Sortino ratio: Return per unit of downside risk	-0.01	-0.03	+0.02
Omega ratio: Gain probability vs. loss probability	1.00	1.00	0.00
Calmar ratio: Return relative to maximum drawdown	-0.06	-0.08	+0.02
Martin ratio: Return relative to average drawdown	-0.10	-0.13	+0.03

FAOIX vs. FAOAX - Sharpe Ratio Comparison

The current FAOIX Sharpe Ratio is -0.05, which is comparable to the FAOAX Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of FAOIX and FAOAX, 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

FAOIX vs. FAOAX - Drawdown Comparison

The maximum FAOIX drawdown since its inception was -59.86%, roughly equal to the maximum FAOAX drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for FAOIX and FAOAX.

Drawdown Indicators

	FAOIX	FAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-59.86%	-60.03%	+0.17%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-7.29%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.98%	-13.99%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-36.33%	-36.50%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-36.33%	-36.50%	+0.17%
Current Drawdown Current decline from peak	-5.85%	-5.87%	+0.02%
Average Drawdown Average peak-to-trough decline	-14.19%	-14.54%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	4.15%	-0.02%

Volatility

FAOIX vs. FAOAX - Volatility Comparison

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

Volatility by Period

	FAOIX	FAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.00%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.63%	3.63%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.78%	8.76%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	16.71%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	16.64%	+0.01%

FAOIX vs. FAOAX - Expense Ratio Comparison

FAOIX has a 1.12% expense ratio, which is lower than FAOAX's 1.43% expense ratio.

Dividends

FAOIX vs. FAOAX - Dividend Comparison

FAOIX's dividend yield for the trailing twelve months is around 8.49%, which matches FAOAX's 8.54% 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%
FAOIX Fidelity Advisor Overseas Fund Class I	8.49%	8.49%	1.66%	0.96%	0.63%	2.06%	0.00%	1.35%	5.09%	3.79%	1.49%	0.63%

Frequently Asked Questions

Can I hold both FAOIX and FAOAX in my portfolio?

With a correlation of 1.00, FAOIX and FAOAX 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.

Which is riskier, FAOIX or FAOAX?

FAOAX has higher volatility (0.00%) compared to FAOIX (0.00%). In terms of maximum drawdown, FAOIX dropped -59.86% vs FAOAX's -60.03%.

Which has better risk-adjusted returns?

FAOIX currently has the higher Sharpe Ratio (-0.05 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.