FECMX vs. JEMSX

Last updated Jun 24, 2026

FECMX (Fidelity Advisor Emerging Markets Fund Class I) and JEMSX (JPMorgan Emerging Markets Equity Fund Class I) are both Emerging Markets Equities funds. Over the past 5 years, FECMX returned 7.56%/yr vs 6.78%/yr for JEMSX. With a 0.95 correlation, they move nearly in lockstep. FECMX charges 0.87%/yr vs 0.99%/yr for JEMSX.

Performance

FECMX vs. JEMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Markets Fund Class I (FECMX) and JPMorgan Emerging Markets Equity Fund Class I (JEMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FECMX achieves a 28.94% return, which is significantly lower than JEMSX's 36.32% return.

FECMX

• 1D: 0.82%
• 1M: 8.02%
• YTD: 28.94%
• 6M: 30.19%
• 1Y: 55.89%
• 3Y*: 23.77%
• 5Y*: 7.56%
• 10Y*: —

JEMSX

• 1D: 1.01%
• 1M: 8.93%
• YTD: 36.32%
• 6M: 38.31%
• 1Y: 68.62%
• 3Y*: 26.19%
• 5Y*: 6.78%
• 10Y*: 12.37%

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

FECMX vs. JEMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FECMX Fidelity Advisor Emerging Markets Fund Class I	28.94%	31.00%	7.13%	15.15%	-27.49%	-0.57%
JEMSX JPMorgan Emerging Markets Equity Fund Class I	36.32%	40.13%	3.39%	7.21%	-25.77%	-8.07%

Correlation

The correlation between FECMX and JEMSX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 19, 2021	0.95

The correlation between FECMX and JEMSX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

FECMX vs. JEMSX — Risk / Return Rank

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

FECMX

FECMX Risk / Return Rank: 83
FECMX Sharpe Ratio Rank: 87
FECMX Sortino Ratio Rank: 72
FECMX Omega Ratio Rank: 81
FECMX Calmar Ratio Rank: 90
FECMX Martin Ratio Rank: 88

JEMSX

JEMSX Risk / Return Rank: 92
JEMSX Sharpe Ratio Rank: 96
JEMSX Sortino Ratio Rank: 86
JEMSX Omega Ratio Rank: 88
JEMSX Calmar Ratio Rank: 95
JEMSX Martin Ratio Rank: 96

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.

FECMX vs. JEMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Markets Fund Class I (FECMX) and JPMorgan Emerging Markets Equity Fund Class I (JEMSX). 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.

	FECMX	JEMSX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	3.19	-0.57
Sortino ratio: Return per unit of downside risk	3.24	3.78	-0.54
Omega ratio: Gain probability vs. loss probability	1.49	1.58	-0.09
Calmar ratio: Return relative to maximum drawdown	4.35	5.53	-1.18
Martin ratio: Return relative to average drawdown	15.53	21.73	-6.20

FECMX vs. JEMSX - Sharpe Ratio Comparison

The current FECMX Sharpe Ratio is 2.62, which is comparable to the JEMSX Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of FECMX and JEMSX, 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

FECMX vs. JEMSX - Drawdown Comparison

The maximum FECMX drawdown since its inception was -40.89%, smaller than the maximum JEMSX drawdown of -62.07%. Use the drawdown chart below to compare losses from any high point for FECMX and JEMSX.

Drawdown Indicators

	FECMX	JEMSX	Difference
Max Drawdown Largest peak-to-trough decline	-40.89%	-62.07%	+21.18%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-12.57%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.14%	-15.10%	-4.04%
Max Drawdown (5Y) Largest decline over 5 years	-40.89%	-44.92%	+4.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.59%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-15.77%	-21.65%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	3.19%	+0.45%

Volatility

FECMX vs. JEMSX - Volatility Comparison

Fidelity Advisor Emerging Markets Fund Class I (FECMX) and JPMorgan Emerging Markets Equity Fund Class I (JEMSX) have volatilities of 11.80% and 11.24%, 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

	FECMX	JEMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.80%	11.24%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	19.28%	19.12%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	21.65%	21.82%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.51%	19.75%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.39%	19.68%	-0.29%

FECMX vs. JEMSX - Expense Ratio Comparison

FECMX has a 0.87% expense ratio, which is lower than JEMSX's 0.99% expense ratio.

Dividends

FECMX vs. JEMSX - Dividend Comparison

FECMX's dividend yield for the trailing twelve months is around 0.03%, less than JEMSX's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FECMX Fidelity Advisor Emerging Markets Fund Class I	0.03%	0.04%	0.64%	1.13%	0.86%	6.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JEMSX JPMorgan Emerging Markets Equity Fund Class I	0.92%	1.26%	1.41%	1.45%	0.37%	3.80%	0.09%	0.76%	0.87%	0.39%	0.66%	0.67%

Frequently Asked Questions

Can I hold both FECMX and JEMSX in my portfolio?

With a correlation of 0.95, FECMX and JEMSX 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, FECMX or JEMSX?

FECMX has higher volatility (11.80%) compared to JEMSX (11.24%). In terms of maximum drawdown, FECMX dropped -40.89% vs JEMSX's -62.07%.

Which has better risk-adjusted returns?

JEMSX currently has the higher Sharpe Ratio (3.19 vs 2.62), 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.