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FEDAX vs. FGKPX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FEDAX vs. FGKPX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) and Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX).

FEDAX is managed by Fidelity. It was launched on Nov 1, 2011. FGKPX is managed by Fidelity. It was launched on Jan 30, 2019.

Performance

FEDAX vs. FGKPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) and Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX). The values are adjusted to include any dividend payments, if applicable.

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FEDAX vs. FGKPX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FEDAX
Fidelity Advisor Emerging Markets Discovery Fund Class A		6.04%31.49%-3.90%20.38%-12.13%6.39%16.62%11.78%
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund		0.61%12.56%5.96%15.28%-12.98%10.75%5.22%3.48%

Returns By Period

In the year-to-date period, FEDAX achieves a 6.04% return, which is significantly higher than FGKPX's 0.61% return.

FEDAX

1D
1.87%
1M
-6.14%
YTD
6.04%
6M
11.58%
1Y
36.29%
3Y*
15.34%
5Y*
7.53%
10Y*
9.43%

FGKPX

1D
1.67%
1M
-2.77%
YTD
0.61%
6M
2.22%
1Y
13.45%
3Y*
10.23%
5Y*
5.04%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Fidelity Advisor Emerging Markets Discovery Fund Class A

Fidelity SAI Emerging Markets Low Volatility Index Fund

Often compared with FEDAX:
FEDAX vs. DEMAXFEDAX vs. PZIEXFEDAX vs. FEDGXFEDAX vs. FEDDXFEDAX vs. FIQGXFEDAX vs. NOIEXFEDAX vs. CNWIX
Often compared with FGKPX:
FGKPX vs. FHKFXFGKPX vs. VOOFGKPX vs. FPADXFGKPX vs. VMMSXFGKPX vs. EDIVFGKPX vs. DEMFGKPX vs. DFCEX

FEDAX vs. FGKPX - Expense Ratio Comparison

FEDAX has a 1.49% expense ratio, which is higher than FGKPX's 0.23% expense ratio.

FEDAX
Fidelity Advisor Emerging Markets Discovery Fund Class A
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund

Return for Risk

FEDAX vs. FGKPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEDAX
FEDAX Risk / Return Rank: 9595
Overall Rank
FEDAX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
FEDAX Sortino Ratio Rank: 9595
Sortino Ratio Rank
FEDAX Omega Ratio Rank: 9494
Omega Ratio Rank
FEDAX Calmar Ratio Rank: 9696
Calmar Ratio Rank
FEDAX Martin Ratio Rank: 9595
Martin Ratio Rank
FGKPX
FGKPX Risk / Return Rank: 6868
Overall Rank
FGKPX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FGKPX Sortino Ratio Rank: 7474
Sortino Ratio Rank
FGKPX Omega Ratio Rank: 6969
Omega Ratio Rank
FGKPX Calmar Ratio Rank: 6868
Calmar Ratio Rank
FGKPX Martin Ratio Rank: 5454
Martin Ratio Rank
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.

FEDAX vs. FGKPX - 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 SAI Emerging Markets Low Volatility Index Fund (FGKPX). 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.

FEDAXFGKPXDifference

Sharpe ratio

Return per unit of total volatility

2.60

1.40

+1.20

Sortino ratio

Return per unit of downside risk

3.23

1.93

+1.30

Omega ratio

Gain probability vs. loss probability

1.49

1.27

+0.22

Calmar ratio

Return relative to maximum drawdown

3.64

1.68

+1.95

Martin ratio

Return relative to average drawdown

14.09

5.61

+8.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEDAX vs. FGKPX - Sharpe Ratio Comparison

The current FEDAX Sharpe Ratio is 2.60, which is higher than the FGKPX Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FEDAX and FGKPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FEDAXFGKPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.60

1.40

+1.20

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.50

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.43

+0.07

Correlation

The correlation between FEDAX and FGKPX is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FEDAX vs. FGKPX - Dividend Comparison

FEDAX's dividend yield for the trailing twelve months is around 4.31%, less than FGKPX's 7.70% yield.

TTM20252024202320222021202020192018201720162015
FEDAX
Fidelity Advisor Emerging Markets Discovery Fund Class A		4.31%4.57%3.79%1.85%1.41%11.64%0.31%0.74%1.54%1.50%1.13%0.52%
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund		7.70%7.75%5.07%2.91%1.88%2.30%1.77%1.88%0.00%0.00%0.00%0.00%

Drawdowns

FEDAX vs. FGKPX - Drawdown Comparison

The maximum FEDAX drawdown since its inception was -43.35%, which is greater than FGKPX's maximum drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for FEDAX and FGKPX.

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Drawdown Indicators

FEDAXFGKPXDifference

Max Drawdown

Largest peak-to-trough decline

-43.35%

-32.05%

-11.30%

Max Drawdown (1Y)

Largest decline over 1 year

-9.95%

-7.14%

-2.81%

Max Drawdown (5Y)

Largest decline over 5 years

-27.68%

-20.69%

-6.99%

Max Drawdown (10Y)

Largest decline over 10 years

-43.35%

—

—

Current Drawdown

Current decline from peak

-7.90%

-5.38%

-2.52%

Average Drawdown

Average peak-to-trough decline

-9.06%

-5.41%

-3.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.57%

2.14%

+0.43%

Volatility

FEDAX vs. FGKPX - Volatility Comparison

Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) has a higher volatility of 6.78% compared to Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) at 4.76%. This indicates that FEDAX's price experiences larger fluctuations and is considered to be riskier than FGKPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEDAXFGKPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.78%

4.76%

+2.02%

Volatility (6M)

Calculated over the trailing 6-month period

9.91%

6.59%

+3.32%

Volatility (1Y)

Calculated over the trailing 1-year period

14.46%

9.98%

+4.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.01%

10.08%

+3.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.68%

12.47%

+3.21%