FEMVX vs. EMPTX

Last updated Jun 4, 2026

FEMVX (Fidelity SAI Emerging Markets Value Index Fund) and EMPTX (UBS Emerging Markets Equity Opportunity Fund) are both Emerging Markets Diversified funds. Over the past 5 years, FEMVX returned 13.63%/yr vs 6.59%/yr for EMPTX. A 0.79 correlation means they provide meaningful diversification when combined. FEMVX charges 0.22%/yr vs 0.19%/yr for EMPTX.

Performance

FEMVX vs. EMPTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Emerging Markets Value Index Fund (FEMVX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEMVX achieves a 37.35% return, which is significantly higher than EMPTX's 30.51% return.

FEMVX

• 1D: 1.76%
• 1M: 14.17%
• YTD: 37.35%
• 6M: 41.22%
• 1Y: 70.43%
• 3Y*: 31.02%
• 5Y*: 13.63%
• 10Y*: —

EMPTX

• 1D: 1.55%
• 1M: 10.37%
• YTD: 30.51%
• 6M: 34.39%
• 1Y: 68.31%
• 3Y*: 26.97%
• 5Y*: 6.59%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FEMVX vs. EMPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FEMVX Fidelity SAI Emerging Markets Value Index Fund	37.35%	33.95%	11.68%	17.43%	-16.98%	6.02%	35.70%
EMPTX UBS Emerging Markets Equity Opportunity Fund	30.51%	43.82%	2.51%	8.92%	-25.38%	-9.36%	50.24%

Correlation

The correlation between FEMVX and EMPTX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 13, 2020	0.79

The correlation between FEMVX and EMPTX shifts across timeframes, from 0.62 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEMVX vs. EMPTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FEMVX

FEMVX Risk / Return Rank: 96
FEMVX Sharpe Ratio Rank: 99
FEMVX Sortino Ratio Rank: 96
FEMVX Omega Ratio Rank: 95
FEMVX Calmar Ratio Rank: 95
FEMVX Martin Ratio Rank: 95

EMPTX

EMPTX Risk / Return Rank: 94
EMPTX Sharpe Ratio Rank: 98
EMPTX Sortino Ratio Rank: 94
EMPTX Omega Ratio Rank: 93
EMPTX Calmar Ratio Rank: 93
EMPTX Martin Ratio Rank: 93

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.

FEMVX vs. EMPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Value Index Fund (FEMVX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). 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.

	FEMVX	EMPTX	Difference
Sharpe ratio Return per unit of total volatility	4.20	4.00	+0.19
Sortino ratio Return per unit of downside risk	5.20	4.80	+0.40
Omega ratio Gain probability vs. loss probability	1.78	1.71	+0.07
Calmar ratio Return relative to maximum drawdown	5.85	5.17	+0.68
Martin ratio Return relative to average drawdown	23.12	20.43	+2.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMVX vs. EMPTX - Sharpe Ratio Comparison

The current FEMVX Sharpe Ratio is 4.20, which is comparable to the EMPTX Sharpe Ratio of 4.00. The chart below compares the historical Sharpe Ratios of FEMVX and EMPTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEMVX	EMPTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.20	4.00	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.35	+0.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.49	+0.71

Drawdowns

FEMVX vs. EMPTX - Drawdown Comparison

The maximum FEMVX drawdown since its inception was -30.54%, smaller than the maximum EMPTX drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for FEMVX and EMPTX.

Drawdown Indicators

	FEMVX	EMPTX	Difference
Max Drawdown Largest peak-to-trough decline	-30.54%	-46.03%	+15.49%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-14.50%	+2.30%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-15.50%	-0.14%
Max Drawdown (5Y) Largest decline over 5 years	-30.54%	-41.46%	+10.92%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.68%	-18.37%	+10.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.54%	-0.46%

Volatility

FEMVX vs. EMPTX - Volatility Comparison

The current volatility for Fidelity SAI Emerging Markets Value Index Fund (FEMVX) is 7.21%, while UBS Emerging Markets Equity Opportunity Fund (EMPTX) has a volatility of 7.75%. This indicates that FEMVX experiences smaller price fluctuations and is considered to be less risky than EMPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEMVX	EMPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	7.75%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	14.62%	16.12%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	17.02%	18.72%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	19.28%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	19.37%	-3.36%

FEMVX vs. EMPTX - Expense Ratio Comparison

FEMVX has a 0.22% expense ratio, which is higher than EMPTX's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FEMVX vs. EMPTX - Dividend Comparison

FEMVX's dividend yield for the trailing twelve months is around 2.89%, more than EMPTX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMPTX UBS Emerging Markets Equity Opportunity Fund	1.47%	1.91%	3.40%	3.20%	3.84%	11.93%	1.50%	2.75%	0.54%
FEMVX Fidelity SAI Emerging Markets Value Index Fund	2.89%	3.97%	3.65%	4.73%	4.87%	5.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEMVX and EMPTX in my portfolio?

FEMVX and EMPTX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEMVX or EMPTX?

EMPTX has higher volatility (7.75%) compared to FEMVX (7.21%). In terms of maximum drawdown, FEMVX dropped -30.54% vs EMPTX's -46.03%.

Which has better risk-adjusted returns?

FEMVX currently has the higher Sharpe Ratio (4.20 vs 4.00), 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.