FEMSX vs. EMF
FEMSX (Fidelity Series Emerging Markets Opportunities Fund) and EMF (Templeton Emerging Markets Fund) are both Emerging Markets Equities funds. Over the past 10 years, FEMSX returned 13.07%/yr vs 15.50%/yr for EMF. Their correlation of 0.83 suggests significant overlap in exposure. FEMSX charges 0.01%/yr vs 1.43%/yr for EMF.
Performance
FEMSX vs. EMF - Performance Comparison
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Returns By Period
In the year-to-date period, FEMSX achieves a 26.98% return, which is significantly lower than EMF's 37.12% return. Over the past 10 years, FEMSX has underperformed EMF with an annualized return of 13.07%, while EMF has yielded a comparatively higher 15.50% annualized return.
FEMSX
- 1D
- -4.83%
- 1M
- 2.05%
- YTD
- 26.98%
- 6M
- 28.38%
- 1Y
- 50.91%
- 3Y*
- 26.19%
- 5Y*
- 7.69%
- 10Y*
- 13.07%
EMF
- 1D
- -1.00%
- 1M
- 5.32%
- YTD
- 37.12%
- 6M
- 41.69%
- 1Y
- 75.18%
- 3Y*
- 34.87%
- 5Y*
- 11.38%
- 10Y*
- 15.50%
FEMSX vs. EMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 26.98% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
EMF Templeton Emerging Markets Fund | 37.12% | 58.20% | 6.56% | 8.84% | -21.53% | -8.23% | 24.48% | 27.20% | -14.78% | 53.55% |
Correlation
The correlation between FEMSX and EMF is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2008 | 0.83 |
The correlation between FEMSX and EMF has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.
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Return for Risk
FEMSX vs. EMF — Risk / Return Rank
FEMSX
EMF
FEMSX vs. EMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Opportunities Fund (FEMSX) and Templeton Emerging Markets Fund (EMF). 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 | EMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.56 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 3.88 | +0.22 |
| Martin ratioReturn relative to average drawdown | 15.37 | 15.07 | +0.30 |
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Drawdowns
FEMSX vs. EMF - Drawdown Comparison
The maximum FEMSX drawdown since its inception was -44.16%, smaller than the maximum EMF drawdown of -76.97%. Use the drawdown chart below to compare losses from any high point for FEMSX and EMF.
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Drawdown Indicators
| FEMSX | EMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.16% | -76.97% | +32.81% |
Max Drawdown (1Y)Largest decline over 1 year | -13.42% | -19.48% | +6.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.04% | -19.48% | +2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -41.64% | -45.08% | +3.44% |
Max Drawdown (10Y)Largest decline over 10 years | -44.16% | -47.65% | +3.49% |
Current DrawdownCurrent decline from peak | -5.01% | -6.55% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -28.96% | +15.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 5.00% | -1.43% |
Volatility
FEMSX vs. EMF - Volatility Comparison
Fidelity Series Emerging Markets Opportunities Fund (FEMSX) has a higher volatility of 12.42% compared to Templeton Emerging Markets Fund (EMF) at 11.30%. This indicates that FEMSX's price experiences larger fluctuations and is considered to be riskier than EMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMSX | EMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.42% | 11.30% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 19.89% | 22.08% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.92% | 24.42% | -2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.66% | 20.89% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.57% | 20.68% | -1.11% |
FEMSX vs. EMF - Expense Ratio Comparison
FEMSX has a 0.01% expense ratio, which is lower than EMF's 1.43% expense ratio.
Dividends
FEMSX vs. EMF - Dividend Comparison
FEMSX's dividend yield for the trailing twelve months is around 1.93%, less than EMF's 7.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMF Templeton Emerging Markets Fund | 7.34% | 9.73% | 4.28% | 6.22% | 9.89% | 6.92% | 3.51% | 7.36% | 5.92% | 12.11% | 1.62% | 12.81% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 1.93% | 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
FEMSX and EMF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMSX has higher volatility (12.42%) compared to EMF (11.30%). In terms of maximum drawdown, FEMSX dropped -44.16% vs EMF's -76.97%.
EMF currently has the higher Sharpe Ratio (3.11 vs 2.51), 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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