FEDGX vs. FEDAX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX) and Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX).

FEDGX is managed by Fidelity. It was launched on Nov 1, 2011. FEDAX is managed by Fidelity. It was launched on Nov 1, 2011.

Performance

FEDGX vs. FEDAX - Performance Comparison

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

FEDGX vs. FEDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	3.88%	30.50%	-4.59%	19.45%	-12.76%	5.51%	15.73%	18.27%	-19.70%	35.93%
FEDAX Fidelity Advisor Emerging Markets Discovery Fund Class A	4.10%	31.49%	-3.90%	20.38%	-12.13%	6.39%	16.62%	19.32%	-19.19%	36.46%

Returns By Period

In the year-to-date period, FEDGX achieves a 3.88% return, which is significantly lower than FEDAX's 4.10% return. Over the past 10 years, FEDGX has underperformed FEDAX with an annualized return of 8.45%, while FEDAX has yielded a comparatively higher 9.23% annualized return.

FEDGX

• 1D: -0.77%
• 1M: -9.27%
• YTD: 3.88%
• 6M: 9.76%
• 1Y: 33.85%
• 3Y*: 13.78%
• 5Y*: 6.60%
• 10Y*: 8.45%

FEDAX

• 1D: -0.75%
• 1M: -9.21%
• YTD: 4.10%
• 6M: 10.12%
• 1Y: 34.84%
• 3Y*: 14.63%
• 5Y*: 7.41%
• 10Y*: 9.23%

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

FEDGX vs. FEDAX - Expense Ratio Comparison

FEDGX has a 2.25% expense ratio, which is higher than FEDAX's 1.49% expense ratio.

FEDGX

Fidelity Advisor Emerging Markets Discovery Fund Class C

FEDAX

Fidelity Advisor Emerging Markets Discovery Fund Class A

Return for Risk

FEDGX vs. FEDAX — Risk / Return Rank

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

FEDGX

FEDGX Risk / Return Rank: 94
FEDGX Sharpe Ratio Rank: 95
FEDGX Sortino Ratio Rank: 93
FEDGX Omega Ratio Rank: 92
FEDGX Calmar Ratio Rank: 94
FEDGX Martin Ratio Rank: 94

FEDAX

FEDAX Risk / Return Rank: 94
FEDAX Sharpe Ratio Rank: 96
FEDAX Sortino Ratio Rank: 94
FEDAX Omega Ratio Rank: 92
FEDAX Calmar Ratio Rank: 94
FEDAX Martin Ratio Rank: 94

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.

FEDGX vs. FEDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX) and Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX). 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.

	FEDGX	FEDAX	Difference
Sharpe ratio Return per unit of total volatility	2.29	2.36	-0.07
Sortino ratio Return per unit of downside risk	2.88	2.95	-0.07
Omega ratio Gain probability vs. loss probability	1.43	1.45	-0.01
Calmar ratio Return relative to maximum drawdown	3.05	3.15	-0.10
Martin ratio Return relative to average drawdown	11.96	12.43	-0.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEDGX vs. FEDAX - Sharpe Ratio Comparison

The current FEDGX Sharpe Ratio is 2.29, which is comparable to the FEDAX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FEDGX and FEDAX, 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

	FEDGX	FEDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.36	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.53	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.59	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.49	-0.05

Correlation

The correlation between FEDGX and FEDAX 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

FEDGX vs. FEDAX - Dividend Comparison

FEDGX's dividend yield for the trailing twelve months is around 3.66%, less than FEDAX's 4.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	3.66%	3.81%	3.01%	1.09%	0.57%	10.88%	0.00%	0.00%	0.49%	1.54%	0.58%	0.00%
FEDAX Fidelity Advisor Emerging Markets Discovery Fund Class A	4.39%	4.57%	3.79%	1.85%	1.41%	11.64%	0.31%	0.74%	1.54%	1.50%	1.13%	0.52%

Drawdowns

FEDGX vs. FEDAX - Drawdown Comparison

The maximum FEDGX drawdown since its inception was -44.26%, roughly equal to the maximum FEDAX drawdown of -43.35%. Use the drawdown chart below to compare losses from any high point for FEDGX and FEDAX.

Drawdown Indicators

	FEDGX	FEDAX	Difference
Max Drawdown Largest peak-to-trough decline	-44.26%	-43.35%	-0.91%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-9.95%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-28.29%	-27.68%	-0.61%
Max Drawdown (10Y) Largest decline over 10 years	-44.26%	-43.35%	-0.91%
Current Drawdown Current decline from peak	-9.66%	-9.58%	-0.08%
Average Drawdown Average peak-to-trough decline	-9.62%	-9.06%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.52%	+0.02%

Volatility

FEDGX vs. FEDAX - Volatility Comparison

Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX) and Fidelity Advisor Emerging Markets Discovery Fund Class A (FEDAX) have volatilities of 6.45% and 6.48%, 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

	FEDGX	FEDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	6.48%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	9.75%	9.76%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	14.38%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.98%	13.98%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.64%	15.67%	-0.03%