FEDIX vs. FEDTX

Last updated Jun 3, 2026

FEDIX (Fidelity Advisor Emerging Markets Discovery Fund Class I) and FEDTX (Fidelity Advisor Emerging Markets Discovery Fund Class M) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FEDIX returned 10.88%/yr vs 10.32%/yr for FEDTX. With a 1.00 correlation, they move nearly in lockstep. FEDIX charges 1.19%/yr vs 1.76%/yr for FEDTX.

Performance

FEDIX vs. FEDTX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FEDIX having a 19.24% return and FEDTX slightly lower at 18.99%. Over the past 10 years, FEDIX has outperformed FEDTX with an annualized return of 10.88%, while FEDTX has yielded a comparatively lower 10.32% annualized return.

FEDIX

• 1D: 0.39%
• 1M: 1.42%
• YTD: 19.24%
• 6M: 21.30%
• 1Y: 40.20%
• 3Y*: 18.72%
• 5Y*: 8.49%
• 10Y*: 10.88%

FEDTX

• 1D: 0.40%
• 1M: 1.39%
• YTD: 18.99%
• 6M: 20.99%
• 1Y: 39.46%
• 3Y*: 18.10%
• 5Y*: 7.91%
• 10Y*: 10.32%

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

FEDIX vs. FEDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEDIX Fidelity Advisor Emerging Markets Discovery Fund Class I	19.24%	31.82%	-3.64%	20.77%	-11.82%	6.67%	16.93%	19.64%	-18.89%	36.50%
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M	18.99%	31.19%	-4.16%	20.12%	-12.35%	6.05%	16.31%	18.91%	-19.40%	36.42%

Correlation

The correlation between FEDIX 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 FEDIX and FEDTX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FEDIX vs. FEDTX — Risk / Return Rank

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

FEDIX

FEDIX Risk / Return Rank: 87
FEDIX Sharpe Ratio Rank: 93
FEDIX Sortino Ratio Rank: 85
FEDIX Omega Ratio Rank: 85
FEDIX Calmar Ratio Rank: 86
FEDIX Martin Ratio Rank: 84

FEDTX

FEDTX Risk / Return Rank: 85
FEDTX Sharpe Ratio Rank: 92
FEDTX Sortino Ratio Rank: 84
FEDTX Omega Ratio Rank: 84
FEDTX Calmar Ratio Rank: 85
FEDTX Martin Ratio Rank: 82

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.

FEDIX vs. FEDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Emerging Markets Discovery Fund Class I (FEDIX) 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.

	FEDIX	FEDTX	Difference
Sharpe ratio Return per unit of total volatility	3.14	3.09	+0.05
Sortino ratio Return per unit of downside risk	4.02	3.97	+0.06
Omega ratio Gain probability vs. loss probability	1.58	1.57	+0.01
Calmar ratio Return relative to maximum drawdown	4.14	4.05	+0.09
Martin ratio Return relative to average drawdown	15.93	15.55	+0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEDIX vs. FEDTX - Sharpe Ratio Comparison

The current FEDIX Sharpe Ratio is 3.14, which is comparable to the FEDTX Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of FEDIX and FEDTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEDIX	FEDTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	3.09	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.56	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.66	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.54	+0.04

Drawdowns

FEDIX vs. FEDTX - Drawdown Comparison

The maximum FEDIX drawdown since its inception was -42.98%, roughly equal to the maximum FEDTX drawdown of -43.70%. Use the drawdown chart below to compare losses from any high point for FEDIX and FEDTX.

Drawdown Indicators

	FEDIX	FEDTX	Difference
Max Drawdown Largest peak-to-trough decline	-42.98%	-43.70%	+0.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-9.62%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.33%	-17.51%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.42%	-27.91%	+0.49%
Max Drawdown (10Y) Largest decline over 10 years	-42.98%	-43.70%	+0.72%
Current Drawdown Current decline from peak	-1.76%	-1.78%	+0.02%
Average Drawdown Average peak-to-trough decline	-8.77%	-9.17%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.51%	-0.02%

Volatility

FEDIX vs. FEDTX - Volatility Comparison

Fidelity Advisor Emerging Markets Discovery Fund Class I (FEDIX) and Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX) have volatilities of 4.33% and 4.32%, 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

	FEDIX	FEDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.32%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	10.64%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	13.19%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.11%	14.09%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.75%	15.73%	+0.02%

FEDIX vs. FEDTX - Expense Ratio Comparison

FEDIX has a 1.19% expense ratio, which is lower than FEDTX's 1.76% expense ratio.

Dividends

FEDIX vs. FEDTX - Dividend Comparison

FEDIX's dividend yield for the trailing twelve months is around 3.94%, more than FEDTX's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDIX Fidelity Advisor Emerging Markets Discovery Fund Class I	3.94%	4.70%	4.01%	2.11%	1.79%	11.83%	0.55%	1.05%	1.84%	1.49%	1.44%	0.83%
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M	3.62%	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

Can I hold both FEDIX and FEDTX in my portfolio?

With a correlation of 1.00, FEDIX 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.

Which is riskier, FEDIX or FEDTX?

FEDIX has higher volatility (4.33%) compared to FEDTX (4.32%). In terms of maximum drawdown, FEDIX dropped -42.98% vs FEDTX's -43.70%.

Which has better risk-adjusted returns?

FEDIX currently has the higher Sharpe Ratio (3.14 vs 3.09), 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.