FEMSX vs. AIA
FEMSX (Fidelity Series Emerging Markets Opportunities Fund) and AIA (iShares Asia 50 ETF) are both funds - FEMSX is a Emerging Markets Equities fund managed by Fidelity, while AIA is a Asia Pacific Equities fund tracking the S&P Asia 50 Index. Over the past 10 years, FEMSX returned 13.63%/yr vs 14.96%/yr for AIA. Their correlation of 0.90 suggests significant overlap in exposure. FEMSX charges 0.01%/yr vs 0.50%/yr for AIA.
Performance
FEMSX vs. AIA - Performance Comparison
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Returns By Period
In the year-to-date period, FEMSX achieves a 33.43% return, which is significantly lower than AIA's 43.04% return. Over the past 10 years, FEMSX has underperformed AIA with an annualized return of 13.63%, while AIA has yielded a comparatively higher 14.96% annualized return.
FEMSX
- 1D
- 0.30%
- 1M
- 7.24%
- YTD
- 33.43%
- 6M
- 35.29%
- 1Y
- 62.63%
- 3Y*
- 28.29%
- 5Y*
- 8.98%
- 10Y*
- 13.63%
AIA
- 1D
- -7.46%
- 1M
- 3.93%
- YTD
- 43.04%
- 6M
- 46.22%
- 1Y
- 80.75%
- 3Y*
- 36.18%
- 5Y*
- 11.29%
- 10Y*
- 14.96%
FEMSX vs. AIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 33.43% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
AIA iShares Asia 50 ETF | 43.04% | 47.79% | 20.26% | 4.32% | -24.08% | -10.91% | 33.73% | 22.21% | -14.22% | 45.00% |
Correlation
The correlation between FEMSX and AIA is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2008 | 0.90 |
The correlation between FEMSX and AIA has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
FEMSX vs. AIA — Risk / Return Rank
FEMSX
AIA
FEMSX vs. AIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Opportunities Fund (FEMSX) and iShares Asia 50 ETF (AIA). 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.
| FEMSX | AIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.48 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 5.74 | -0.98 |
| Martin ratioReturn relative to average drawdown | 17.89 | 19.64 | -1.75 |
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Drawdowns
FEMSX vs. AIA - Drawdown Comparison
The maximum FEMSX drawdown since its inception was -44.16%, smaller than the maximum AIA drawdown of -60.89%. Use the drawdown chart below to compare losses from any high point for FEMSX and AIA.
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Drawdown Indicators
| FEMSX | AIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.16% | -60.89% | +16.73% |
Max Drawdown (1Y)Largest decline over 1 year | -13.42% | -14.15% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -17.04% | -21.64% | +4.60% |
Max Drawdown (5Y)Largest decline over 5 years | -41.64% | -50.11% | +8.47% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | -54.64% | +10.48% |
Current DrawdownCurrent decline from peak | -0.18% | -7.46% | +7.28% |
Average DrawdownAverage peak-to-trough decline | -13.38% | -16.64% | +3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 4.13% | -0.57% |
Volatility
FEMSX vs. AIA - Volatility Comparison
The current volatility for Fidelity Series Emerging Markets Opportunities Fund (FEMSX) is 11.28%, while iShares Asia 50 ETF (AIA) has a volatility of 16.92%. This indicates that FEMSX experiences smaller price fluctuations and is considered to be less risky than AIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMSX | AIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.28% | 16.92% | -5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 19.22% | 26.32% | -7.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.38% | 29.51% | -8.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.54% | 26.34% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.56% | 23.93% | -4.37% |
FEMSX vs. AIA - Expense Ratio Comparison
FEMSX has a 0.01% expense ratio, which is lower than AIA's 0.50% expense ratio.
Dividends
FEMSX vs. AIA - Dividend Comparison
FEMSX's dividend yield for the trailing twelve months is around 1.83%, more than AIA's 1.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIA iShares Asia 50 ETF | 1.54% | 2.50% | 2.78% | 2.07% | 2.59% | 1.54% | 1.11% | 2.24% | 2.49% | 1.45% | 2.29% | 2.88% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 1.83% | 2.45% | 2.08% | 2.82% | 2.39% | 12.83% | 2.99% | 2.48% | 9.42% | 8.98% | 1.46% | 1.27% |
Frequently Asked Questions
With a correlation of 0.94, FEMSX and AIA 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.
AIA has higher volatility (16.92%) compared to FEMSX (11.28%). In terms of maximum drawdown, FEMSX dropped -44.16% vs AIA's -60.89%.
FEMSX currently has the higher Sharpe Ratio (2.99 vs 2.75), 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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