FEMKX vs. ACWI
FEMKX (Fidelity Emerging Markets) and ACWI (iShares MSCI ACWI ETF) are both funds - FEMKX is a Emerging Markets Equities fund managed by Fidelity, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Over the past 10 years, FEMKX returned 11.98%/yr vs 13.02%/yr for ACWI. Their correlation of 0.81 suggests significant overlap in exposure. FEMKX charges 0.88%/yr vs 0.32%/yr for ACWI.
Performance
FEMKX vs. ACWI - 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 ACWI's 10.59% return. Over the past 10 years, FEMKX has underperformed ACWI with an annualized return of 11.98%, while ACWI has yielded a comparatively higher 13.02% 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%
ACWI
- 1D
- 0.41%
- 1M
- -0.11%
- YTD
- 10.59%
- 6M
- 11.34%
- 1Y
- 26.86%
- 3Y*
- 19.78%
- 5Y*
- 10.88%
- 10Y*
- 13.02%
FEMKX vs. ACWI - 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% |
ACWI iShares MSCI ACWI ETF | 10.59% | 22.41% | 17.45% | 22.27% | -18.39% | 18.66% | 16.34% | 26.59% | -9.19% | 24.33% |
Correlation
The correlation between FEMKX and ACWI is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2008 | 0.81 |
The correlation between FEMKX and ACWI has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.
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Return for Risk
FEMKX vs. ACWI — Risk / Return Rank
FEMKX
ACWI
FEMKX vs. ACWI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets (FEMKX) and iShares MSCI ACWI ETF (ACWI). 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 | ACWI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.35 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 2.62 | +0.83 |
| Martin ratioReturn relative to average drawdown | 12.40 | 11.46 | +0.94 |
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Drawdowns
FEMKX vs. ACWI - Drawdown Comparison
The maximum FEMKX drawdown since its inception was -71.14%, which is greater than ACWI's maximum drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for FEMKX and ACWI.
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Drawdown Indicators
| FEMKX | ACWI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.14% | -56.00% | -15.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.00% | -9.73% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -16.55% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -40.88% | -26.42% | -14.46% |
Max Drawdown (10Y)Largest decline over 10 years | -43.24% | -33.53% | -9.71% |
Current DrawdownCurrent decline from peak | -5.05% | -2.19% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -25.93% | -8.60% | -17.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 2.22% | +1.40% |
Volatility
FEMKX vs. ACWI - Volatility Comparison
Fidelity Emerging Markets (FEMKX) has a higher volatility of 11.94% compared to iShares MSCI ACWI ETF (ACWI) at 5.17%. This indicates that FEMKX's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMKX | ACWI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.94% | 5.17% | +6.77% |
Volatility (6M)Calculated over the trailing 6-month period | 18.90% | 11.09% | +7.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.23% | 13.42% | +7.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.38% | 16.15% | +3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 17.14% | +1.77% |
FEMKX vs. ACWI - Expense Ratio Comparison
FEMKX has a 0.88% expense ratio, which is higher than ACWI's 0.32% expense ratio.
Dividends
FEMKX vs. ACWI - Dividend Comparison
FEMKX's dividend yield for the trailing twelve months is around 0.04%, less than ACWI's 1.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACWI iShares MSCI ACWI ETF | 1.40% | 1.55% | 1.70% | 1.88% | 1.79% | 1.71% | 1.43% | 2.33% | 2.18% | 1.94% | 2.19% | 2.56% |
FEMKX Fidelity Emerging Markets | 0.04% | 0.05% | 0.65% | 1.11% | 0.77% | 6.00% | 1.39% | 1.71% | 0.83% | 0.08% | 0.67% | 0.51% |
Frequently Asked Questions
FEMKX and ACWI have a correlation of 0.80, 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 ACWI (5.17%). In terms of maximum drawdown, FEMKX dropped -71.14% vs ACWI's -56.00%.
FEMKX currently has the higher Sharpe Ratio (2.12 vs 1.90), 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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