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FGKPX vs. FKEMX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FGKPX vs. FKEMX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) and Fidelity Emerging Markets K (FKEMX).

FGKPX is managed by Fidelity. It was launched on Jan 30, 2019. FKEMX is managed by Fidelity. It was launched on May 9, 2008.

Performance

FGKPX vs. FKEMX - 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 Fidelity Emerging Markets K (FKEMX). The values are adjusted to include any dividend payments, if applicable.

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FGKPX vs. FKEMX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund		0.61%12.56%5.96%15.28%-12.98%10.75%5.22%3.48%
FKEMX
Fidelity Emerging Markets K		0.98%31.18%7.26%15.36%-27.42%1.40%32.68%22.54%

Returns By Period

In the year-to-date period, FGKPX achieves a 0.61% return, which is significantly lower than FKEMX's 0.98% return.

FGKPX

1D
1.67%
1M
-2.77%
YTD
0.61%
6M
2.22%
1Y
13.45%
3Y*
10.23%
5Y*
5.04%
10Y*
—

FKEMX

1D
3.49%
1M
-7.62%
YTD
0.98%
6M
4.40%
1Y
33.13%
3Y*
14.76%
5Y*
3.11%
10Y*
10.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity SAI Emerging Markets Low Volatility Index Fund

Fidelity Emerging Markets K

Often compared with FGKPX:
FGKPX vs. FHKFXFGKPX vs. VOOFGKPX vs. VMMSXFGKPX vs. FPADXFGKPX vs. EDIVFGKPX vs. DEMFGKPX vs. DFCEX
Often compared with FKEMX:
FKEMX vs. FEMKXFKEMX vs. FZAEXFKEMX vs. GICIXFKEMX vs. FXAIXFKEMX vs. VWOFKEMX vs. FNILXFKEMX vs. FDGRX

FGKPX vs. FKEMX - Expense Ratio Comparison

FGKPX has a 0.23% expense ratio, which is lower than FKEMX's 0.77% expense ratio.

FKEMX
Fidelity Emerging Markets K
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund

Return for Risk

FGKPX vs. FKEMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FGKPX
FGKPX Risk / Return Rank: 6868
Overall Rank
FGKPX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FGKPX Sortino Ratio Rank: 7474
Sortino Ratio Rank
FGKPX Omega Ratio Rank: 6969
Omega Ratio Rank
FGKPX Calmar Ratio Rank: 6868
Calmar Ratio Rank
FGKPX Martin Ratio Rank: 5454
Martin Ratio Rank
FKEMX
FKEMX Risk / Return Rank: 8585
Overall Rank
FKEMX Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
FKEMX Sortino Ratio Rank: 8686
Sortino Ratio Rank
FKEMX Omega Ratio Rank: 8282
Omega Ratio Rank
FKEMX Calmar Ratio Rank: 8787
Calmar Ratio Rank
FKEMX Martin Ratio Rank: 8484
Martin Ratio Rank
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. FKEMX - 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 Fidelity Emerging Markets K (FKEMX). 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.

FGKPXFKEMXDifference

Sharpe ratio

Return per unit of total volatility

1.40

1.75

-0.35

Sortino ratio

Return per unit of downside risk

1.93

2.36

-0.43

Omega ratio

Gain probability vs. loss probability

1.27

1.34

-0.07

Calmar ratio

Return relative to maximum drawdown

1.68

2.36

-0.68

Martin ratio

Return relative to average drawdown

5.61

8.85

-3.24

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. FKEMX - Sharpe Ratio Comparison

The current FGKPX Sharpe Ratio is 1.40, which is comparable to the FKEMX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of FGKPX and FKEMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FGKPXFKEMXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.40

1.75

-0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.17

+0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.55

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.18

+0.25

Correlation

The correlation between FGKPX and FKEMX is 0.81, 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. FKEMX - Dividend Comparison

FGKPX's dividend yield for the trailing twelve months is around 7.70%, more than FKEMX's 0.07% yield.

TTM20252024202320222021202020192018201720162015
FGKPX
Fidelity SAI Emerging Markets Low Volatility Index Fund		7.70%7.75%5.07%2.91%1.88%2.30%1.77%1.88%0.00%0.00%0.00%0.00%
FKEMX
Fidelity Emerging Markets K		0.07%0.07%0.78%1.24%0.89%6.18%1.46%1.85%1.00%0.08%0.84%0.70%

Drawdowns

FGKPX vs. FKEMX - Drawdown Comparison

The maximum FGKPX drawdown since its inception was -32.05%, smaller than the maximum FKEMX drawdown of -69.07%. Use the drawdown chart below to compare losses from any high point for FGKPX and FKEMX.

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Drawdown Indicators

FGKPXFKEMXDifference

Max Drawdown

Largest peak-to-trough decline

-32.05%

-69.07%

+37.02%

Max Drawdown (1Y)

Largest decline over 1 year

-7.14%

-13.00%

+5.86%

Max Drawdown (5Y)

Largest decline over 5 years

-20.69%

-40.79%

+20.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.13%

—

Current Drawdown

Current decline from peak

-5.38%

-9.97%

+4.59%

Average Drawdown

Average peak-to-trough decline

-5.41%

-21.49%

+16.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.14%

3.47%

-1.33%

Volatility

FGKPX vs. FKEMX - Volatility Comparison

The current volatility for Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) is 4.76%, while Fidelity Emerging Markets K (FKEMX) has a volatility of 9.99%. This indicates that FGKPX experiences smaller price fluctuations and is considered to be less risky than FKEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FGKPXFKEMXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

9.99%

-5.23%

Volatility (6M)

Calculated over the trailing 6-month period

6.59%

14.56%

-7.97%

Volatility (1Y)

Calculated over the trailing 1-year period

9.98%

19.60%

-9.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.08%

18.56%

-8.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

12.47%

18.46%

-5.99%