FEATX vs. ASIAX

Last updated Aug 2, 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 13.45%/yr vs 7.63%/yr for ASIAX. Their correlation of 0.87 means they have usually moved in the same direction. 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 23.29% return, which is significantly higher than ASIAX's 12.98% return. Over the past 10 years, FEATX has outperformed ASIAX with an annualized return of 13.45%, while ASIAX has yielded a comparatively lower 7.63% annualized return.

FEATX

• 1D: 3.44%
• 1M: -6.71%
• 6M: 13.07%
• YTD: 23.29%
• 1Y: 41.98%
• 3Y*: 26.66%
• 5Y*: 7.28%
• 10Y*: 13.45%
• ALL TIME*: 9.52%

ASIAX

• 1D: 3.01%
• 1M: 2.27%
• 6M: 6.06%
• YTD: 12.98%
• 1Y: 32.63%
• 3Y*: 13.64%
• 5Y*: 6.71%
• 10Y*: 7.63%
• ALL TIME*: 8.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASIAX Invesco EQV Asia Pacific Equity Fund	$0.00	$0.00	$0.00
FEATX Fidelity Advisor Emerging Asia Fund Class M	$0.00	$0.00	$0.00

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	23.29%	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	12.98%	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 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jun 15, 1999	0.87

The correlation between FEATX and ASIAX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

FEATX vs. ASIAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEATX

FEATX Risk / Return Rank: 64
FEATX Sharpe Ratio Rank: 63
FEATX Sortino Ratio Rank: 52
FEATX Omega Ratio Rank: 63
FEATX Calmar Ratio Rank: 76
FEATX Martin Ratio Rank: 64

ASIAX

ASIAX Risk / Return Rank: 66
ASIAX Sharpe Ratio Rank: 67
ASIAX Sortino Ratio Rank: 62
ASIAX Omega Ratio Rank: 68
ASIAX Calmar Ratio Rank: 77
ASIAX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	FEATX	ASIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.58	-0.04
Sortino ratio: Return per unit of downside risk	2.01	2.16	-0.15
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.50	2.50	0.00
Martin ratio: Return relative to average drawdown	8.12	7.48	+0.64

FEATX vs. ASIAX - Sharpe Ratio Comparison

The current FEATX Sharpe Ratio is 1.54, which is comparable to the ASIAX Sharpe Ratio of 1.58. 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.

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	-15.62%	-11.73%	-3.89%
Max Drawdown (3Y) Largest decline over 3 years	-17.43%	-20.36%	+2.93%
Max Drawdown (5Y) Largest decline over 5 years	-50.88%	-27.93%	-22.95%
Max Drawdown (10Y) Largest decline over 10 years	-58.09%	-36.32%	-21.77%
Current Drawdown Current decline from peak	-12.71%	-6.02%	-6.69%
Average Drawdown Average peak-to-trough decline	-20.60%	-15.05%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	3.91%	+0.89%

Volatility

FEATX vs. ASIAX - Volatility Comparison

Fidelity Advisor Emerging Asia Fund Class M (FEATX) has a higher volatility of 9.96% compared to Invesco EQV Asia Pacific Equity Fund (ASIAX) at 6.32%. 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	9.96%	6.32%	+3.64%
Volatility (6M) Calculated over the trailing 6-month period	23.06%	16.09%	+6.97%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	18.57%	+6.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.76%	15.60%	+8.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	15.52%	+5.99%

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 18.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASIAX Invesco EQV Asia Pacific Equity Fund	18.95%	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 0.88, 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 (9.96%) compared to ASIAX (6.32%). In terms of maximum drawdown, FEATX dropped -60.97% vs ASIAX's -63.78%.

Which has better risk-adjusted returns?

ASIAX currently has the higher Sharpe Ratio (1.58 vs 1.54), 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.