FERGX vs. FPADX

Last updated Jun 20, 2026

FERGX (Fidelity SAI Emerging Markets Index Fund) and FPADX (Fidelity Emerging Markets Index Fund) are both Emerging Markets Diversified funds from Fidelity. Over the past 5 years, FERGX returned 8.19%/yr vs 8.35%/yr for FPADX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.07% expense ratio.

Performance

FERGX vs. FPADX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FERGX having a 29.40% return and FPADX slightly higher at 29.75%.

FERGX

• 1D: 3.17%
• 1M: 7.19%
• YTD: 29.40%
• 6M: 32.64%
• 1Y: 55.09%
• 3Y*: 22.94%
• 5Y*: 8.19%
• 10Y*: —

FPADX

• 1D: 3.20%
• 1M: 7.38%
• YTD: 29.75%
• 6M: 32.96%
• 1Y: 55.46%
• 3Y*: 23.15%
• 5Y*: 8.35%
• 10Y*: 10.38%

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

FERGX vs. FPADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FERGX Fidelity SAI Emerging Markets Index Fund	29.40%	33.86%	6.59%	9.41%	-20.19%	-3.05%	17.46%	18.22%	-14.52%	33.62%
FPADX Fidelity Emerging Markets Index Fund	29.75%	33.90%	6.80%	9.51%	-20.06%	-3.07%	17.84%	18.28%	-14.65%	35.16%

Correlation

The correlation between FERGX and FPADX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.99

The correlation between FERGX and FPADX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FERGX vs. FPADX — Risk / Return Rank

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

FERGX

FERGX Risk / Return Rank: 86
FERGX Sharpe Ratio Rank: 90
FERGX Sortino Ratio Rank: 79
FERGX Omega Ratio Rank: 85
FERGX Calmar Ratio Rank: 89
FERGX Martin Ratio Rank: 88

FPADX

FPADX Risk / Return Rank: 87
FPADX Sharpe Ratio Rank: 90
FPADX Sortino Ratio Rank: 80
FPADX Omega Ratio Rank: 85
FPADX Calmar Ratio Rank: 89
FPADX Martin Ratio Rank: 89

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.

FERGX vs. FPADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Index Fund (FERGX) and Fidelity Emerging Markets Index Fund (FPADX). 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	FPADX	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.72	-0.01
Sortino ratio: Return per unit of downside risk	3.38	3.40	-0.02
Omega ratio: Gain probability vs. loss probability	1.52	1.52	0.00
Calmar ratio: Return relative to maximum drawdown	4.11	4.13	-0.02
Martin ratio: Return relative to average drawdown	15.36	15.52	-0.16

FERGX vs. FPADX - Sharpe Ratio Comparison

The current FERGX Sharpe Ratio is 2.71, which is comparable to the FPADX Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of FERGX and FPADX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FERGX vs. FPADX - Drawdown Comparison

The maximum FERGX drawdown since its inception was -39.27%, roughly equal to the maximum FPADX drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for FERGX and FPADX.

Drawdown Indicators

	FERGX	FPADX	Difference
Max Drawdown Largest peak-to-trough decline	-39.27%	-39.16%	-0.11%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-13.28%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-16.20%	-16.09%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	-36.97%	-36.86%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.16%	—
Current Drawdown Current decline from peak	-0.26%	-0.22%	-0.04%
Average Drawdown Average peak-to-trough decline	-14.28%	-13.23%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.52%	+0.03%

Volatility

FERGX vs. FPADX - Volatility Comparison

Fidelity SAI Emerging Markets Index Fund (FERGX) and Fidelity Emerging Markets Index Fund (FPADX) have volatilities of 10.91% and 10.91%, 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.

Volatility by Period

	FERGX	FPADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.91%	10.91%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	18.24%	18.17%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	20.14%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.76%	17.63%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.22%	18.05%	+0.17%

FERGX vs. FPADX - Expense Ratio Comparison

Both FERGX and FPADX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FERGX vs. FPADX - Dividend Comparison

FERGX's dividend yield for the trailing twelve months is around 2.07%, more than FPADX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FERGX Fidelity SAI Emerging Markets Index Fund	2.07%	2.67%	2.40%	2.67%	2.51%	2.90%	1.49%	2.49%	2.58%	0.58%	0.00%	0.00%
FPADX Fidelity Emerging Markets Index Fund	1.81%	2.35%	2.70%	2.68%	2.47%	2.14%	1.50%	2.59%	2.20%	0.12%	1.69%	2.47%

Frequently Asked Questions

Can I hold both FERGX and FPADX in my portfolio?

With a correlation of 1.00, FERGX and FPADX 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.

Which is riskier, FERGX or FPADX?

FPADX has higher volatility (10.91%) compared to FERGX (10.91%). In terms of maximum drawdown, FERGX dropped -39.27% vs FPADX's -39.16%.

Which has better risk-adjusted returns?

FPADX currently has the higher Sharpe Ratio (2.72 vs 2.71), 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.