FGKPX vs. CNWIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) and Calamos Evolving World Growth Fund Class I (CNWIX).

FGKPX is managed by Fidelity. It was launched on Jan 30, 2019. CNWIX is managed by Calamos.

Performance

FGKPX vs. CNWIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) and Calamos Evolving World Growth Fund Class I (CNWIX). The values are adjusted to include any dividend payments, if applicable.

FGKPX vs. CNWIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund	-1.04%	12.56%	5.96%	15.28%	-12.98%	10.75%	5.22%	3.48%
CNWIX Calamos Evolving World Growth Fund Class I	4.79%	19.29%	14.99%	6.60%	-24.35%	-4.70%	54.23%	13.22%

Returns By Period

In the year-to-date period, FGKPX achieves a -1.04% return, which is significantly lower than CNWIX's 4.79% return.

FGKPX

• 1D: -0.52%
• 1M: -5.86%
• YTD: -1.04%
• 6M: 0.80%
• 1Y: 11.99%
• 3Y*: 9.63%
• 5Y*: 4.79%
• 10Y*: —

CNWIX

• 1D: -2.00%
• 1M: -16.05%
• YTD: 4.79%
• 6M: 3.82%
• 1Y: 27.65%
• 3Y*: 13.45%
• 5Y*: 2.05%
• 10Y*: 8.36%

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

FGKPX vs. CNWIX - Expense Ratio Comparison

FGKPX has a 0.23% expense ratio, which is lower than CNWIX's 1.05% expense ratio.

CNWIX

Calamos Evolving World Growth Fund Class I

FGKPX

Fidelity SAI Emerging Markets Low Volatility Index Fund

Return for Risk

FGKPX vs. CNWIX — Risk / Return Rank

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

FGKPX

FGKPX Risk / Return Rank: 61
FGKPX Sharpe Ratio Rank: 69
FGKPX Sortino Ratio Rank: 67
FGKPX Omega Ratio Rank: 62
FGKPX Calmar Ratio Rank: 58
FGKPX Martin Ratio Rank: 50

CNWIX

CNWIX Risk / Return Rank: 70
CNWIX Sharpe Ratio Rank: 76
CNWIX Sortino Ratio Rank: 72
CNWIX Omega Ratio Rank: 70
CNWIX Calmar Ratio Rank: 68
CNWIX Martin Ratio Rank: 64

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.

FGKPX vs. CNWIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) and Calamos Evolving World Growth Fund Class I (CNWIX). 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.

	FGKPX	CNWIX	Difference
Sharpe ratio Return per unit of total volatility	1.21	1.36	-0.16
Sortino ratio Return per unit of downside risk	1.67	1.78	-0.11
Omega ratio Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio Return relative to maximum drawdown	1.36	1.55	-0.19
Martin ratio Return relative to average drawdown	4.89	6.05	-1.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGKPX vs. CNWIX - Sharpe Ratio Comparison

The current FGKPX Sharpe Ratio is 1.21, which is comparable to the CNWIX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FGKPX and CNWIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FGKPX	CNWIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.36	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.12	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.27	+0.15

Correlation

The correlation between FGKPX and CNWIX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FGKPX vs. CNWIX - Dividend Comparison

FGKPX's dividend yield for the trailing twelve months is around 7.83%, more than CNWIX's 0.06% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund	7.83%	7.75%	5.07%	2.91%	1.88%	2.30%	1.77%	1.88%	0.00%	0.00%	0.00%	0.00%
CNWIX Calamos Evolving World Growth Fund Class I	0.06%	0.06%	0.00%	0.54%	0.97%	2.79%	2.01%	1.04%	0.00%	0.42%	0.00%	0.38%

Drawdowns

FGKPX vs. CNWIX - Drawdown Comparison

The maximum FGKPX drawdown since its inception was -32.05%, smaller than the maximum CNWIX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FGKPX and CNWIX.

Drawdown Indicators

	FGKPX	CNWIX	Difference
Max Drawdown Largest peak-to-trough decline	-32.05%	-43.57%	+11.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-16.28%	+9.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.69%	-37.47%	+16.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.57%	—
Current Drawdown Current decline from peak	-6.93%	-16.28%	+9.35%
Average Drawdown Average peak-to-trough decline	-5.41%	-16.56%	+11.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	4.17%	-1.98%

Volatility

FGKPX vs. CNWIX - Volatility Comparison

The current volatility for Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) is 4.58%, while Calamos Evolving World Growth Fund Class I (CNWIX) has a volatility of 10.65%. This indicates that FGKPX experiences smaller price fluctuations and is considered to be less risky than CNWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGKPX	CNWIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	10.65%	-6.07%
Volatility (6M) Calculated over the trailing 6-month period	6.38%	16.88%	-10.50%
Volatility (1Y) Calculated over the trailing 1-year period	9.86%	20.17%	-10.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.05%	17.53%	-7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.46%	24.07%	-11.61%