FAOSX vs. GIOTX

Last updated Jul 17, 2026

FAOSX (Fidelity Advisor Overseas Fund Class Z) and GIOTX (GMO International Developed Equity Allocation Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, FAOSX returned 3.25%/yr vs 15.03%/yr for GIOTX. Their correlation of 0.85 suggests significant overlap in exposure. FAOSX charges 1.02%/yr vs 0.00%/yr for GIOTX.

Performance

FAOSX vs. GIOTX - Performance Comparison

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

Returns By Period

FAOSX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: -2.41%
• 3Y*: 7.78%
• 5Y*: 3.25%
• 10Y*: —

GIOTX

• 1D: 0.64%
• 1M: 0.17%
• 6M: 14.56%
• YTD: 19.22%
• 1Y: 40.94%
• 3Y*: 26.10%
• 5Y*: 15.03%
• 10Y*: 12.10%

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

FAOSX vs. GIOTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAOSX Fidelity Advisor Overseas Fund Class Z	0.00%	15.36%	5.06%	20.52%	-24.31%	19.42%	15.17%	27.96%	-14.73%	26.25%
GIOTX GMO International Developed Equity Allocation Fund	19.22%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	22.81%

Correlation

The correlation between FAOSX and GIOTX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.85

Over the past year, the correlation between FAOSX and GIOTX has dropped to 0.47 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

FAOSX vs. GIOTX — Risk / Return Rank

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

FAOSX

FAOSX Risk / Return Rank: 1
FAOSX Sharpe Ratio Rank: 1
FAOSX Sortino Ratio Rank: 1
FAOSX Omega Ratio Rank: 1
FAOSX Calmar Ratio Rank: 1
FAOSX Martin Ratio Rank: 1

GIOTX

GIOTX Risk / Return Rank: 90
GIOTX Sharpe Ratio Rank: 93
GIOTX Sortino Ratio Rank: 87
GIOTX Omega Ratio Rank: 86
GIOTX Calmar Ratio Rank: 92
GIOTX Martin Ratio Rank: 93

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.

FAOSX vs. GIOTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class Z (FAOSX) 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.

	FAOSX	GIOTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	2.61	-3.03
Sortino ratio: Return per unit of downside risk	-0.51	3.55	-4.06
Omega ratio: Gain probability vs. loss probability	0.91	1.47	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.47	3.93	-4.40
Martin ratio: Return relative to average drawdown	-0.73	15.19	-15.93

FAOSX vs. GIOTX - Sharpe Ratio Comparison

The current FAOSX Sharpe Ratio is -0.41, which is lower than the GIOTX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FAOSX 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

FAOSX vs. GIOTX - Drawdown Comparison

The maximum FAOSX drawdown since its inception was -36.24%, smaller than the maximum GIOTX drawdown of -56.51%. Use the drawdown chart below to compare losses from any high point for FAOSX and GIOTX.

Drawdown Indicators

	FAOSX	GIOTX	Difference
Max Drawdown Largest peak-to-trough decline	-36.24%	-56.51%	+20.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.26%	-10.66%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.96%	-13.40%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-36.24%	-28.34%	-7.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.29%	—
Current Drawdown Current decline from peak	-5.86%	-0.31%	-5.55%
Average Drawdown Average peak-to-trough decline	-7.91%	-14.16%	+6.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	2.75%	+1.56%

Volatility

FAOSX vs. GIOTX - Volatility Comparison

The current volatility for Fidelity Advisor Overseas Fund Class Z (FAOSX) is 0.00%, while GMO International Developed Equity Allocation Fund (GIOTX) has a volatility of 4.59%. This indicates that FAOSX 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

	FAOSX	GIOTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	4.59%	-4.59%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	13.25%	-10.66%
Volatility (1Y) Calculated over the trailing 1-year period	8.27%	16.08%	-7.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.69%	15.52%	+1.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	16.14%	+0.46%

FAOSX vs. GIOTX - Expense Ratio Comparison

FAOSX has a 1.02% expense ratio, which is higher than GIOTX's 0.00% expense ratio.

Dividends

FAOSX vs. GIOTX - Dividend Comparison

FAOSX's dividend yield for the trailing twelve months is around 8.67%, more than GIOTX's 8.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAOSX Fidelity Advisor Overseas Fund Class Z	8.67%	8.67%	1.80%	1.12%	0.85%	2.07%	0.00%	1.70%	5.30%	3.93%	0.00%	0.00%
GIOTX GMO International Developed Equity Allocation Fund	8.54%	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 FAOSX and GIOTX in my portfolio?

FAOSX and GIOTX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAOSX or GIOTX?

GIOTX has higher volatility (4.59%) compared to FAOSX (0.00%). In terms of maximum drawdown, FAOSX dropped -36.24% vs GIOTX's -56.51%.

Which has better risk-adjusted returns?

GIOTX currently has the higher Sharpe Ratio (2.61 vs -0.41), 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.