FEMKX vs. ^NDX
FEMKX (Fidelity Emerging Markets) is Emerging Markets Equities fund managed by Fidelity, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, FEMKX returned 11.98%/yr vs 20.95%/yr for ^NDX. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
FEMKX vs. ^NDX - Performance Comparison
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Returns By Period
In the year-to-date period, FEMKX achieves a 21.74% return, which is significantly higher than ^NDX's 17.37% return. Over the past 10 years, FEMKX has underperformed ^NDX with an annualized return of 11.98%, while ^NDX has yielded a comparatively higher 20.95% annualized return.
FEMKX
- 1D
- 5.11%
- 1M
- -0.90%
- YTD
- 21.74%
- 6M
- 24.81%
- 1Y
- 47.25%
- 3Y*
- 20.93%
- 5Y*
- 6.21%
- 10Y*
- 11.98%
^NDX
- 1D
- 0.64%
- 1M
- 0.19%
- YTD
- 17.37%
- 6M
- 17.62%
- 1Y
- 37.01%
- 3Y*
- 25.76%
- 5Y*
- 16.18%
- 10Y*
- 20.95%
FEMKX vs. ^NDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMKX Fidelity Emerging Markets | 21.74% | 31.02% | 7.12% | 15.16% | -27.48% | 1.25% | 32.56% | 33.67% | -18.03% | 46.92% |
^NDX NASDAQ 100 Index | 17.37% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
Correlation
The correlation between FEMKX and ^NDX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 1990 | 0.51 |
Over the past year, FEMKX and ^NDX have become more correlated (0.77) than their long-term average of 0.51, meaning their price movements have been converging.
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Return for Risk
FEMKX vs. ^NDX — Risk / Return Rank
FEMKX
^NDX
FEMKX vs. ^NDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets (FEMKX) and NASDAQ 100 Index (^NDX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FEMKX | ^NDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.36 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 2.92 | +0.54 |
| Martin ratioReturn relative to average drawdown | 12.40 | 10.85 | +1.55 |
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Drawdowns
FEMKX vs. ^NDX - Drawdown Comparison
The maximum FEMKX drawdown since its inception was -71.14%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for FEMKX and ^NDX.
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Drawdown Indicators
| FEMKX | ^NDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.14% | -82.90% | +11.76% |
Max Drawdown (1Y)Largest decline over 1 year | -13.00% | -12.12% | -0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -22.93% | +3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -40.88% | -35.56% | -5.32% |
Max Drawdown (10Y)Largest decline over 10 years | -43.24% | -35.56% | -7.68% |
Current DrawdownCurrent decline from peak | -5.05% | -3.34% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -25.93% | -24.61% | -1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 3.26% | +0.36% |
Volatility
FEMKX vs. ^NDX - Volatility Comparison
Fidelity Emerging Markets (FEMKX) has a higher volatility of 11.94% compared to NASDAQ 100 Index (^NDX) at 7.51%. This indicates that FEMKX's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMKX | ^NDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.94% | 7.51% | +4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 18.90% | 13.84% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.23% | 17.29% | +3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.38% | 22.76% | -3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 22.61% | -3.70% |
Frequently Asked Questions
FEMKX and ^NDX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMKX has higher volatility (11.94%) compared to ^NDX (7.51%). In terms of maximum drawdown, FEMKX dropped -71.14% vs ^NDX's -82.90%.
FEMKX currently has the higher Sharpe Ratio (2.12 vs 2.05), 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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