FERGX vs. EEM
FERGX (Fidelity SAI Emerging Markets Index Fund) and EEM (iShares MSCI Emerging Markets ETF) are both Emerging Markets Equities funds. Over the past 5 years, FERGX returned 7.32%/yr vs 6.64%/yr for EEM. Their 0.95 correlation means they have historically moved very closely together. FERGX charges 0.07%/yr vs 0.72%/yr for EEM.
Performance
FERGX vs. EEM - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FERGX having a 17.99% return and EEM slightly higher at 18.18%.
FERGX
- 1D
- 1.66%
- 1M
- -1.93%
- 6M
- 9.08%
- YTD
- 17.99%
- 1Y
- 35.92%
- 3Y*
- 18.51%
- 5Y*
- 7.32%
- 10Y*
- —
- ALL TIME*
- 8.89%
EEM
- 1D
- 0.36%
- 1M
- -2.10%
- 6M
- 9.07%
- YTD
- 18.18%
- 1Y
- 36.06%
- 3Y*
- 19.44%
- 5Y*
- 6.64%
- 10Y*
- 8.14%
- ALL TIME*
- 9.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.57B | $1.56B | $1.92B | |
| $0.00 | $0.00 | $0.00 |
FERGX vs. EEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FERGX Fidelity SAI Emerging Markets Index Fund | 17.99% | 33.86% | 6.59% | 9.41% | -20.19% | -3.05% | 17.46% | 18.22% | -14.52% | 33.62% |
EEM iShares MSCI Emerging Markets ETF | 18.18% | 33.98% | 6.49% | 8.95% | -20.56% | -3.63% | 17.02% | 18.22% | -15.31% | 37.26% |
Correlation
The correlation between FERGX and EEM is 0.95, 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.95 |
The correlation between FERGX and EEM has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
FERGX vs. EEM — Risk / Return Rank
FERGX
EEM
FERGX vs. EEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Index Fund (FERGX) and iShares MSCI Emerging Markets ETF (EEM). 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.
| FERGX | EEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.54 | -0.05 |
| Martin ratioReturn relative to average drawdown | 7.90 | 7.75 | +0.15 |
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Drawdowns
FERGX vs. EEM - Drawdown Comparison
The maximum FERGX drawdown since its inception was -39.27%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for FERGX and EEM.
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Drawdown Indicators
| FERGX | EEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.27% | -66.43% | +27.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -14.24% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -16.20% | -17.29% | +1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -34.56% | -35.01% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.82% | — |
Current DrawdownCurrent decline from peak | -9.06% | -9.68% | +0.62% |
Average DrawdownAverage peak-to-trough decline | -14.19% | -15.95% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 4.67% | -0.26% |
Volatility
FERGX vs. EEM - Volatility Comparison
Fidelity SAI Emerging Markets Index Fund (FERGX) and iShares MSCI Emerging Markets ETF (EEM) have volatilities of 9.45% and 9.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FERGX | EEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.45% | 9.04% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 21.01% | 22.28% | -1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.84% | 24.49% | -1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.26% | 19.84% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.46% | 20.81% | -2.35% |
FERGX vs. EEM - Expense Ratio Comparison
FERGX has a 0.08% expense ratio, which is lower than EEM's 0.72% expense ratio.
Dividends
FERGX vs. EEM - Dividend Comparison
FERGX's dividend yield for the trailing twelve months is around 2.27%, more than EEM's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEM iShares MSCI Emerging Markets ETF | 1.73% | 2.22% | 2.43% | 2.63% | 2.50% | 1.99% | 1.45% | 2.76% | 2.24% | 1.89% | 1.89% | 2.49% |
FERGX Fidelity SAI Emerging Markets Index Fund | 2.27% | 2.67% | 2.40% | 2.67% | 2.51% | 2.90% | 1.49% | 2.49% | 2.58% | 0.58% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, FERGX and EEM 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.
FERGX has higher volatility (9.45%) compared to EEM (9.04%). In terms of maximum drawdown, FERGX dropped -39.27% vs EEM's -66.43%.
FERGX currently has the higher Sharpe Ratio (1.53 vs 1.48), 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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