FEMVX vs. VWO
FEMVX (Fidelity SAI Emerging Markets Value Index Fund) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds. Over the past 5 years, FEMVX returned 12.63%/yr vs 6.08%/yr for VWO. Their correlation of 0.91 means they have usually moved in the same direction. FEMVX charges 0.22%/yr vs 0.08%/yr for VWO.
Performance
FEMVX vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, FEMVX achieves a 24.29% return, which is significantly higher than VWO's 9.41% return.
FEMVX
- 1D
- 3.82%
- 1M
- -2.06%
- 6M
- 13.63%
- YTD
- 24.29%
- 1Y
- 44.69%
- 3Y*
- 23.98%
- 5Y*
- 12.63%
- 10Y*
- —
- ALL TIME*
- 16.67%
VWO
- 1D
- 0.96%
- 1M
- -0.49%
- 6M
- 4.16%
- YTD
- 9.41%
- 1Y
- 21.69%
- 3Y*
- 14.84%
- 5Y*
- 6.08%
- 10Y*
- 7.86%
- ALL TIME*
- 6.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $386.61M | $469.40M | $499.89M |
FEMVX vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FEMVX Fidelity SAI Emerging Markets Value Index Fund | 24.29% | 33.95% | 11.68% | 17.43% | -16.98% | 6.02% | 35.70% |
VWO Vanguard FTSE Emerging Markets ETF | 9.41% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 40.76% |
Correlation
The correlation between FEMVX and VWO is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 12, 2020 | 0.91 |
The correlation between FEMVX and VWO has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
FEMVX vs. VWO — Risk / Return Rank
FEMVX
VWO
FEMVX vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Value Index Fund (FEMVX) and Vanguard FTSE Emerging Markets ETF (VWO). 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.
| FEMVX | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.22 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 1.89 | +1.40 |
| Martin ratioReturn relative to average drawdown | 10.28 | 6.16 | +4.12 |
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Drawdowns
FEMVX vs. VWO - Drawdown Comparison
The maximum FEMVX drawdown since its inception was -30.54%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for FEMVX and VWO.
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Drawdown Indicators
| FEMVX | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.54% | -67.68% | +37.14% |
Max Drawdown (1Y)Largest decline over 1 year | -12.84% | -11.17% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | -17.37% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -28.99% | -30.88% | +1.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -9.51% | -4.07% | -5.44% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -15.73% | +8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 3.43% | +0.68% |
Volatility
FEMVX vs. VWO - Volatility Comparison
Fidelity SAI Emerging Markets Value Index Fund (FEMVX) has a higher volatility of 8.92% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.58%. This indicates that FEMVX's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEMVX | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 5.58% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 20.00% | 15.22% | +4.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 17.58% | +4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.82% | 17.56% | -0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.78% | 19.17% | -2.39% |
FEMVX vs. VWO - Expense Ratio Comparison
FEMVX has a 0.22% expense ratio, which is higher than VWO's 0.08% 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. VWO - Dividend Comparison
FEMVX's dividend yield for the trailing twelve months is around 3.19%, more than VWO's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMVX Fidelity SAI Emerging Markets Value Index Fund | 3.19% | 3.97% | 3.65% | 4.73% | 4.87% | 5.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.35% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Frequently Asked Questions
FEMVX and VWO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FEMVX has higher volatility (8.92%) compared to VWO (5.58%). In terms of maximum drawdown, FEMVX dropped -30.54% vs VWO's -67.68%.
FEMVX currently has the higher Sharpe Ratio (1.95 vs 1.20), 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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