FEATX vs. ASIAX

Last updated Jun 3, 2026

FEATX (Fidelity Advisor Emerging Asia Fund Class M) and ASIAX (Invesco EQV Asia Pacific Equity Fund) are both Asia Pacific Equities funds. Over the past 10 years, FEATX returned 15.59%/yr vs 8.79%/yr for ASIAX. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 1.45% expense ratio.

Performance

FEATX vs. ASIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Asia Fund Class M (FEATX) and Invesco EQV Asia Pacific Equity Fund (ASIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEATX achieves a 37.29% return, which is significantly higher than ASIAX's 18.54% return. Over the past 10 years, FEATX has outperformed ASIAX with an annualized return of 15.59%, while ASIAX has yielded a comparatively lower 8.79% annualized return.

FEATX

• 1D: 2.18%
• 1M: 12.41%
• YTD: 37.29%
• 6M: 41.97%
• 1Y: 72.42%
• 3Y*: 33.81%
• 5Y*: 7.69%
• 10Y*: 15.59%

ASIAX

• 1D: 3.34%
• 1M: 10.09%
• YTD: 18.54%
• 6M: 21.24%
• 1Y: 41.40%
• 3Y*: 16.72%
• 5Y*: 5.80%
• 10Y*: 8.79%

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

FEATX vs. ASIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEATX Fidelity Advisor Emerging Asia Fund Class M	37.29%	36.34%	20.32%	13.22%	-30.99%	-15.29%	72.05%	30.26%	-15.36%	45.82%
ASIAX Invesco EQV Asia Pacific Equity Fund	18.54%	24.56%	9.59%	0.87%	-10.82%	-6.10%	25.76%	17.78%	-11.50%	29.13%

Correlation

The correlation between FEATX and ASIAX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 16, 1999	0.87

The correlation between FEATX and ASIAX has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

FEATX vs. ASIAX — Risk / Return Rank

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

FEATX

FEATX Risk / Return Rank: 93
FEATX Sharpe Ratio Rank: 98
FEATX Sortino Ratio Rank: 91
FEATX Omega Ratio Rank: 91
FEATX Calmar Ratio Rank: 93
FEATX Martin Ratio Rank: 92

ASIAX

ASIAX Risk / Return Rank: 78
ASIAX Sharpe Ratio Rank: 85
ASIAX Sortino Ratio Rank: 76
ASIAX Omega Ratio Rank: 78
ASIAX Calmar Ratio Rank: 78
ASIAX Martin Ratio Rank: 73

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.

FEATX vs. ASIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Asia Fund Class M (FEATX) and Invesco EQV Asia Pacific Equity Fund (ASIAX). 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.

	FEATX	ASIAX	Difference
Sharpe ratio Return per unit of total volatility	3.76	2.75	+1.01
Sortino ratio Return per unit of downside risk	4.47	3.67	+0.80
Omega ratio Gain probability vs. loss probability	1.67	1.51	+0.15
Calmar ratio Return relative to maximum drawdown	5.34	3.56	+1.78
Martin ratio Return relative to average drawdown	19.36	13.96	+5.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEATX vs. ASIAX - Sharpe Ratio Comparison

The current FEATX Sharpe Ratio is 3.76, which is higher than the ASIAX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of FEATX and ASIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEATX	ASIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.76	2.75	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.39	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.58	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.50	-0.02

Drawdowns

FEATX vs. ASIAX - Drawdown Comparison

The maximum FEATX drawdown since its inception was -60.97%, roughly equal to the maximum ASIAX drawdown of -63.78%. Use the drawdown chart below to compare losses from any high point for FEATX and ASIAX.

Drawdown Indicators

	FEATX	ASIAX	Difference
Max Drawdown Largest peak-to-trough decline	-60.97%	-63.78%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.58%	-11.73%	-1.85%
Max Drawdown (3Y) Largest decline over 3 years	-17.43%	-20.36%	+2.93%
Max Drawdown (5Y) Largest decline over 5 years	-53.63%	-31.71%	-21.92%
Max Drawdown (10Y) Largest decline over 10 years	-58.09%	-36.32%	-21.77%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.69%	-15.10%	-5.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	2.99%	+0.75%

Volatility

FEATX vs. ASIAX - Volatility Comparison

Fidelity Advisor Emerging Asia Fund Class M (FEATX) has a higher volatility of 8.51% compared to Invesco EQV Asia Pacific Equity Fund (ASIAX) at 6.14%. This indicates that FEATX's price experiences larger fluctuations and is considered to be riskier than ASIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEATX	ASIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.51%	6.14%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	16.60%	12.63%	+3.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.80%	15.73%	+4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	15.03%	+7.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	15.23%	+5.74%

FEATX vs. ASIAX - Expense Ratio Comparison

Both FEATX and ASIAX have an expense ratio of 1.45%.

Dividends

FEATX vs. ASIAX - Dividend Comparison

FEATX has not paid dividends to shareholders, while ASIAX's dividend yield for the trailing twelve months is around 18.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASIAX Invesco EQV Asia Pacific Equity Fund	18.07%	21.41%	8.68%	2.84%	7.25%	7.71%	7.37%	5.67%	7.17%	7.91%	1.09%	3.15%
FEATX Fidelity Advisor Emerging Asia Fund Class M	0.00%	0.00%	0.00%	0.00%	0.00%	13.43%	6.70%	5.07%	6.24%	0.03%	0.89%	0.87%

Frequently Asked Questions

Can I hold both FEATX and ASIAX in my portfolio?

FEATX and ASIAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEATX or ASIAX?

FEATX has higher volatility (8.51%) compared to ASIAX (6.14%). In terms of maximum drawdown, FEATX dropped -60.97% vs ASIAX's -63.78%.

Which has better risk-adjusted returns?

FEATX currently has the higher Sharpe Ratio (3.76 vs 2.75), 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.