FEAAX vs. FIQPX

Last updated Jun 24, 2026

FEAAX (Fidelity Advisor Emerging Asia Fund Class A) and FIQPX (Fidelity Advisor Emerging Asia Fund Class Z) are both Asia Pacific Equities funds from Fidelity. Over the past 5 years, FEAAX returned 8.47%/yr vs 8.92%/yr for FIQPX. With a 1.00 correlation, they move nearly in lockstep. FEAAX charges 1.20%/yr vs 0.81%/yr for FIQPX.

Performance

FEAAX vs. FIQPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Asia Fund Class A (FEAAX) and Fidelity Advisor Emerging Asia Fund Class Z (FIQPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FEAAX having a 41.43% return and FIQPX slightly higher at 41.69%.

FEAAX

• 1D: 0.81%
• 1M: 9.39%
• YTD: 41.43%
• 6M: 43.26%
• 1Y: 71.41%
• 3Y*: 35.51%
• 5Y*: 8.47%
• 10Y*: 16.45%

FIQPX

• 1D: 0.81%
• 1M: 9.42%
• YTD: 41.69%
• 6M: 43.56%
• 1Y: 72.11%
• 3Y*: 36.06%
• 5Y*: 8.92%
• 10Y*: —

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

FEAAX vs. FIQPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FEAAX Fidelity Advisor Emerging Asia Fund Class A	41.43%	36.67%	20.63%	13.50%	-30.79%	-15.06%	72.51%	30.64%	-0.22%
FIQPX Fidelity Advisor Emerging Asia Fund Class Z	41.69%	37.22%	21.13%	13.98%	-30.50%	-14.73%	73.23%	31.17%	0.71%

Correlation

The correlation between FEAAX and FIQPX 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 (All Time) Calculated using the full available price history since Oct 17, 2018	1.00

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

Return for Risk

FEAAX vs. FIQPX — Risk / Return Rank

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

FEAAX

FEAAX Risk / Return Rank: 92
FEAAX Sharpe Ratio Rank: 96
FEAAX Sortino Ratio Rank: 85
FEAAX Omega Ratio Rank: 89
FEAAX Calmar Ratio Rank: 95
FEAAX Martin Ratio Rank: 93

FIQPX

FIQPX Risk / Return Rank: 92
FIQPX Sharpe Ratio Rank: 96
FIQPX Sortino Ratio Rank: 86
FIQPX Omega Ratio Rank: 89
FIQPX Calmar Ratio Rank: 95
FIQPX 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.

FEAAX vs. FIQPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Asia Fund Class A (FEAAX) and Fidelity Advisor Emerging Asia Fund Class Z (FIQPX). 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.

	FEAAX	FIQPX	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.26	-0.03
Sortino ratio: Return per unit of downside risk	3.74	3.77	-0.03
Omega ratio: Gain probability vs. loss probability	1.59	1.60	0.00
Calmar ratio: Return relative to maximum drawdown	5.41	5.48	-0.07
Martin ratio: Return relative to average drawdown	18.51	18.76	-0.25

FEAAX vs. FIQPX - Sharpe Ratio Comparison

The current FEAAX Sharpe Ratio is 3.23, which is comparable to the FIQPX Sharpe Ratio of 3.26. The chart below compares the historical Sharpe Ratios of FEAAX and FIQPX, 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

FEAAX vs. FIQPX - Drawdown Comparison

The maximum FEAAX drawdown since its inception was -60.87%, which is greater than FIQPX's maximum drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for FEAAX and FIQPX.

Drawdown Indicators

	FEAAX	FIQPX	Difference
Max Drawdown Largest peak-to-trough decline	-60.87%	-57.62%	-3.25%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-13.52%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.33%	-17.18%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-53.46%	-53.21%	-0.25%
Max Drawdown (10Y) Largest decline over 10 years	-57.90%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.17%	-21.96%	+1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.96%	3.94%	+0.02%

Volatility

FEAAX vs. FIQPX - Volatility Comparison

Fidelity Advisor Emerging Asia Fund Class A (FEAAX) and Fidelity Advisor Emerging Asia Fund Class Z (FIQPX) have volatilities of 12.84% and 12.84%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEAAX	FIQPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.84%	12.84%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	20.17%	20.17%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	22.75%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.45%	23.46%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.26%	23.26%	-2.00%

FEAAX vs. FIQPX - Expense Ratio Comparison

FEAAX has a 1.20% expense ratio, which is higher than FIQPX's 0.81% expense ratio.

Dividends

FEAAX vs. FIQPX - Dividend Comparison

Neither FEAAX nor FIQPX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEAAX Fidelity Advisor Emerging Asia Fund Class A	0.00%	0.00%	0.00%	0.00%	0.00%	12.88%	6.62%	5.21%	6.49%	0.03%	1.10%	0.84%
FIQPX Fidelity Advisor Emerging Asia Fund Class Z	0.00%	0.00%	0.00%	0.00%	0.01%	12.82%	6.63%	5.47%	6.97%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEAAX and FIQPX in my portfolio?

With a correlation of 1.00, FEAAX and FIQPX 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, FEAAX or FIQPX?

FIQPX has higher volatility (12.84%) compared to FEAAX (12.84%). In terms of maximum drawdown, FEAAX dropped -60.87% vs FIQPX's -57.62%.

Which has better risk-adjusted returns?

FIQPX currently has the higher Sharpe Ratio (3.26 vs 3.23), 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.