FEDAX vs. FEDTX
FEDAX (Fidelity Advisor Emerging Markets Discovery Fund Class A) and FEDTX (Fidelity Advisor Emerging Markets Discovery Fund Class M) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FEDAX returned 10.66%/yr vs 10.39%/yr for FEDTX. With a 1.00 correlation, they move nearly in lockstep. FEDAX charges 1.49%/yr vs 1.76%/yr for FEDTX.
Performance
FEDAX vs. FEDTX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FEDAX having a 19.92% return and FEDTX slightly lower at 19.78%. Both investments have delivered pretty close results over the past 10 years, with FEDAX having a 10.66% annualized return and FEDTX not far behind at 10.39%.
FEDAX
- 1D
- 0.66%
- 1M
- 1.47%
- YTD
- 19.92%
- 6M
- 21.86%
- 1Y
- 40.35%
- 3Y*
- 18.66%
- 5Y*
- 8.45%
- 10Y*
- 10.66%
FEDTX
- 1D
- 0.66%
- 1M
- 1.47%
- YTD
- 19.78%
- 6M
- 21.73%
- 1Y
- 39.97%
- 3Y*
- 18.36%
- 5Y*
- 8.18%
- 10Y*
- 10.39%
FEDAX vs. FEDTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEDAX Fidelity Advisor Emerging Markets Discovery Fund Class A | 19.92% | 31.49% | -3.90% | 20.38% | -12.13% | 6.39% | 16.62% | 19.32% | -19.19% | 36.46% |
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M | 19.78% | 31.19% | -4.16% | 20.12% | -12.35% | 6.05% | 16.31% | 18.91% | -19.40% | 36.42% |
Correlation
The correlation between FEDAX and FEDTX 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 (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2011 | 1.00 |
The correlation between FEDAX and FEDTX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
FEDAX vs. FEDTX — Risk / Return Rank
FEDAX
FEDTX
FEDAX vs. FEDTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) and Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX). 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.
| FEDAX | FEDTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.56 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 4.22 | +0.06 |
| Martin ratioReturn relative to average drawdown | 16.35 | 16.15 | +0.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEDAX | FEDTX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.09 | 3.08 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.58 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.66 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.54 | +0.02 |
Drawdowns
FEDAX vs. FEDTX - Drawdown Comparison
The maximum FEDAX drawdown since its inception was -43.35%, roughly equal to the maximum FEDTX drawdown of -43.70%. Use the drawdown chart below to compare losses from any high point for FEDAX and FEDTX.
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Drawdown Indicators
| FEDAX | FEDTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.35% | -43.70% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.58% | -9.62% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -17.42% | -17.51% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -27.68% | -27.91% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -43.35% | -43.70% | +0.35% |
Current DrawdownCurrent decline from peak | -1.17% | -1.13% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -8.97% | -9.17% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.51% | -0.01% |
Volatility
FEDAX vs. FEDTX - Volatility Comparison
Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) and Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX) have volatilities of 4.42% and 4.36%, 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.
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Volatility by Period
| FEDAX | FEDTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 4.36% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 10.64% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.25% | 13.18% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.12% | 14.09% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 15.72% | +0.04% |
FEDAX vs. FEDTX - Expense Ratio Comparison
FEDAX has a 1.49% expense ratio, which is lower than FEDTX's 1.76% expense ratio.
Dividends
FEDAX vs. FEDTX - Dividend Comparison
FEDAX's dividend yield for the trailing twelve months is around 3.81%, more than FEDTX's 3.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEDAX Fidelity Advisor Emerging Markets Discovery Fund Class A | 3.81% | 4.57% | 3.79% | 1.85% | 1.41% | 11.64% | 0.31% | 0.74% | 1.54% | 1.50% | 1.13% | 0.52% |
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M | 3.60% | 4.31% | 3.30% | 1.63% | 1.10% | 11.36% | 0.05% | 0.48% | 0.87% | 1.51% | 0.95% | 0.22% |
Frequently Asked Questions
With a correlation of 1.00, FEDAX and FEDTX 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.
FEDAX has higher volatility (4.42%) compared to FEDTX (4.36%). In terms of maximum drawdown, FEDAX dropped -43.35% vs FEDTX's -43.70%.
FEDAX currently has the higher Sharpe Ratio (3.09 vs 3.08), 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.
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