FEDDX vs. FIQGX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Emerging Markets Discovery Fund (FEDDX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX).

FEDDX is managed by Fidelity. It was launched on Nov 1, 2011. FIQGX is managed by Fidelity. It was launched on Oct 2, 2018.

Performance

FEDDX vs. FIQGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets Discovery Fund (FEDDX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX). The values are adjusted to include any dividend payments, if applicable.

FEDDX vs. FIQGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FEDDX Fidelity Emerging Markets Discovery Fund	6.15%	31.90%	-3.68%	20.76%	-11.83%	6.65%	16.96%	19.60%	-1.21%
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z	6.15%	31.96%	-3.54%	20.94%	-11.74%	6.86%	17.11%	19.81%	-1.18%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with FEDDX at 6.15% and FIQGX at 6.15%.

FEDDX

• 1D: 1.90%
• 1M: -6.08%
• YTD: 6.15%
• 6M: 11.77%
• 1Y: 36.78%
• 3Y*: 15.69%
• 5Y*: 7.84%
• 10Y*: 9.73%

FIQGX

• 1D: 1.90%
• 1M: -6.09%
• YTD: 6.15%
• 6M: 11.78%
• 1Y: 36.85%
• 3Y*: 15.79%
• 5Y*: 7.98%
• 10Y*: —

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

FEDDX vs. FIQGX - Expense Ratio Comparison

FEDDX has a 1.19% expense ratio, which is higher than FIQGX's 1.05% expense ratio.

FEDDX

Fidelity Emerging Markets Discovery Fund

FIQGX

Fidelity Advisor Emerging Markets Discovery Fund Class Z

Return for Risk

FEDDX vs. FIQGX — Risk / Return Rank

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

FEDDX

FEDDX Risk / Return Rank: 96
FEDDX Sharpe Ratio Rank: 97
FEDDX Sortino Ratio Rank: 95
FEDDX Omega Ratio Rank: 94
FEDDX Calmar Ratio Rank: 96
FEDDX Martin Ratio Rank: 96

FIQGX

FIQGX Risk / Return Rank: 96
FIQGX Sharpe Ratio Rank: 97
FIQGX Sortino Ratio Rank: 95
FIQGX Omega Ratio Rank: 94
FIQGX Calmar Ratio Rank: 96
FIQGX Martin Ratio Rank: 95

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.

FEDDX vs. FIQGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Discovery Fund (FEDDX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX). 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.

	FEDDX	FIQGX	Difference
Sharpe ratio Return per unit of total volatility	2.64	2.64	0.00
Sortino ratio Return per unit of downside risk	3.27	3.28	-0.01
Omega ratio Gain probability vs. loss probability	1.50	1.50	0.00
Calmar ratio Return relative to maximum drawdown	3.69	3.70	-0.01
Martin ratio Return relative to average drawdown	14.37	14.41	-0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEDDX vs. FIQGX - Sharpe Ratio Comparison

The current FEDDX Sharpe Ratio is 2.64, which is comparable to the FIQGX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FEDDX and FIQGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEDDX	FIQGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.64	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.57	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.64	-0.12

Correlation

The correlation between FEDDX and FIQGX is 1.00, 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

FEDDX vs. FIQGX - Dividend Comparison

FEDDX's dividend yield for the trailing twelve months is around 4.38%, less than FIQGX's 4.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDDX Fidelity Emerging Markets Discovery Fund	4.38%	4.65%	3.99%	2.05%	1.69%	11.90%	0.59%	1.05%	1.88%	1.50%	1.36%	0.81%
FIQGX Fidelity Advisor Emerging Markets Discovery Fund Class Z	4.59%	4.87%	4.07%	2.20%	1.86%	12.04%	0.71%	1.22%	2.16%	0.00%	0.00%	0.00%

Drawdowns

FEDDX vs. FIQGX - Drawdown Comparison

The maximum FEDDX drawdown since its inception was -42.95%, which is greater than FIQGX's maximum drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for FEDDX and FIQGX.

Drawdown Indicators

	FEDDX	FIQGX	Difference
Max Drawdown Largest peak-to-trough decline	-42.95%	-38.41%	-4.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.94%	-9.94%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-27.45%	-27.36%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-42.95%	—	—
Current Drawdown Current decline from peak	-7.82%	-7.83%	+0.01%
Average Drawdown Average peak-to-trough decline	-8.86%	-7.02%	-1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.55%	0.00%

Volatility

FEDDX vs. FIQGX - Volatility Comparison

Fidelity Emerging Markets Discovery Fund (FEDDX) and Fidelity Advisor Emerging Markets Discovery Fund Class Z (FIQGX) have volatilities of 6.76% and 6.78%, 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

	FEDDX	FIQGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	6.78%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	9.92%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	14.45%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.00%	14.01%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	16.77%	-1.11%