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FEMKX vs. ISX5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEMKX vs. ISX5.L

Last updated Jun 13, 2026

FEMKX (Fidelity Emerging Markets) and ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) are both funds - FEMKX is a Emerging Markets Equities fund managed by Fidelity, while ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Over the past 10 years, FEMKX returned 11.98%/yr vs 13.05%/yr for ISX5.L. A 0.54 correlation means they provide meaningful diversification when combined. FEMKX charges 0.88%/yr vs 0.00%/yr for ISX5.L.

Performance

FEMKX vs. ISX5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets (FEMKX) and iShares Core EURO STOXX 50 UCITS ETF (ISX5.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FEMKX achieves a 21.74% return, which is significantly higher than ISX5.L's 7.24% return. Over the past 10 years, FEMKX has underperformed ISX5.L with an annualized return of 11.98%, while ISX5.L has yielded a comparatively higher 13.05% 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%

ISX5.L

1D
2.46%
1M
3.59%
YTD
7.24%
6M
8.56%
1Y
19.84%
3Y*
18.31%
5Y*
10.63%
10Y*
13.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEMKX vs. ISX5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEMKX
Fidelity Emerging Markets		21.74%31.02%7.12%15.16%-27.48%1.25%32.56%33.67%-18.03%46.92%
ISX5.L
iShares Core EURO STOXX 50 UCITS ETF		7.24%37.35%4.59%26.91%-13.63%13.94%6.81%25.61%1.58%9.70%

Correlation

The correlation between FEMKX and ISX5.L is 0.52, 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

0.52

Correlation (3Y)
Calculated over the trailing 3-year period

0.49

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2010

0.54

The correlation between FEMKX and ISX5.L has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

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Fidelity Emerging Markets

iShares Core EURO STOXX 50 UCITS ETF

Often compared with FEMKX:
FEMKX vs. VWOFEMKX vs. VEMAXFEMKX vs. FEDDXFEMKX vs. FSPSXFEMKX vs. FKEMXFEMKX vs. FIMKXFEMKX vs. DEM
Often compared with ISX5.L:
ISX5.L vs. CSX5.LISX5.L vs. ^IBEXISX5.L vs. VGKISX5.L vs. VERX.ASISX5.L vs. ISEU.LISX5.L vs. AME6.DEISX5.L vs. RQFI.DE

Return for Risk

FEMKX vs. ISX5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEMKX
FEMKX Risk / Return Rank: 7979
Overall Rank
FEMKX Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
FEMKX Sortino Ratio Rank: 6868
Sortino Ratio Rank
FEMKX Omega Ratio Rank: 7777
Omega Ratio Rank
FEMKX Calmar Ratio Rank: 8686
Calmar Ratio Rank
FEMKX Martin Ratio Rank: 8383
Martin Ratio Rank
ISX5.L
ISX5.L Risk / Return Rank: 3232
Overall Rank
ISX5.L Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
ISX5.L Sortino Ratio Rank: 3232
Sortino Ratio Rank
ISX5.L Omega Ratio Rank: 3131
Omega Ratio Rank
ISX5.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
ISX5.L Martin Ratio Rank: 3535
Martin Ratio Rank
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.

FEMKX vs. ISX5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets (FEMKX) and iShares Core EURO STOXX 50 UCITS ETF (ISX5.L). 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.

FEMKXISX5.LDifference
Sharpe ratioReturn per unit of total volatility
2.12
0.98

+1.13

Sortino ratioReturn per unit of downside risk
2.70
1.55

+1.14

Omega ratioGain probability vs. loss probability

1.40

1.19

+0.21

Calmar ratioReturn relative to maximum drawdown

3.46

1.39

+2.06

Martin ratioReturn relative to average drawdown

12.40

4.69

+7.72

FEMKX vs. ISX5.L - Sharpe Ratio Comparison

The current FEMKX Sharpe Ratio is 2.12, which is higher than the ISX5.L Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of FEMKX and ISX5.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FEMKX vs. ISX5.L - Drawdown Comparison

The maximum FEMKX drawdown since its inception was -71.14%, which is greater than ISX5.L's maximum drawdown of -38.62%. Use the drawdown chart below to compare losses from any high point for FEMKX and ISX5.L.

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Drawdown Indicators

FEMKXISX5.LDifference

Max Drawdown

Largest peak-to-trough decline

-71.14%

-38.62%

-32.52%

Max Drawdown (1Y)

Largest decline over 1 year

-13.00%

-12.92%

-0.08%

Max Drawdown (3Y)

Largest decline over 3 years

-19.13%

-15.36%

-3.77%

Max Drawdown (5Y)

Largest decline over 5 years

-40.88%

-34.86%

-6.02%

Max Drawdown (10Y)

Largest decline over 10 years

-43.24%

-38.62%

-4.62%

Current Drawdown

Current decline from peak

-5.05%

-0.19%

-4.86%

Average Drawdown

Average peak-to-trough decline

-25.93%

-8.34%

-17.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.62%

3.85%

-0.23%

Volatility

FEMKX vs. ISX5.L - Volatility Comparison

Fidelity Emerging Markets (FEMKX) has a higher volatility of 11.94% compared to iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) at 5.29%. This indicates that FEMKX's price experiences larger fluctuations and is considered to be riskier than ISX5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEMKXISX5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.94%

5.29%

+6.65%

Volatility (6M)

Calculated over the trailing 6-month period

18.90%

15.25%

+3.65%

Volatility (1Y)

Calculated over the trailing 1-year period

21.23%

18.30%

+2.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.38%

21.91%

-2.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.91%

21.97%

-3.06%

FEMKX vs. ISX5.L - Expense Ratio Comparison

FEMKX has a 0.88% expense ratio, which is higher than ISX5.L's 0.00% expense ratio.

Dividends

FEMKX vs. ISX5.L - Dividend Comparison

FEMKX's dividend yield for the trailing twelve months is around 0.04%, while ISX5.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
ISX5.L
iShares Core EURO STOXX 50 UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FEMKX and ISX5.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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