FHKFX vs. JEMWX
FHKFX (Fidelity Series Emerging Markets Fund) and JEMWX (JPMorgan Emerging Markets Equity Fund Class R6) are both Emerging Markets Equities funds. Over the past 5 years, FHKFX returned 7.54%/yr vs 5.77%/yr for JEMWX. Their correlation of 0.93 means they have usually moved in the same direction. FHKFX charges 0.01%/yr vs 0.74%/yr for JEMWX.
Performance
FHKFX vs. JEMWX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FHKFX having a 20.27% return and JEMWX slightly higher at 21.14%.
FHKFX
- 1D
- 4.05%
- 1M
- -3.49%
- 6M
- 8.95%
- YTD
- 20.27%
- 1Y
- 41.07%
- 3Y*
- 20.31%
- 5Y*
- 7.54%
- 10Y*
- —
- ALL TIME*
- 6.80%
JEMWX
- 1D
- 4.26%
- 1M
- -4.50%
- 6M
- 9.88%
- YTD
- 21.14%
- 1Y
- 45.84%
- 3Y*
- 19.69%
- 5Y*
- 5.77%
- 10Y*
- 10.03%
- ALL TIME*
- 8.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHKFX vs. JEMWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHKFX Fidelity Series Emerging Markets Fund | 20.27% | 38.51% | 5.42% | 12.10% | -24.50% | -4.15% | 17.85% | 9.64% | -8.52% |
JEMWX JPMorgan Emerging Markets Equity Fund Class R6 | 21.14% | 40.40% | 3.61% | 7.42% | -25.61% | -10.20% | 35.00% | 32.20% | -8.94% |
Correlation
The correlation between FHKFX and JEMWX is 0.94, 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. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018 | 0.93 |
The correlation between FHKFX and JEMWX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
FHKFX vs. JEMWX — Risk / Return Rank
FHKFX
JEMWX
FHKFX vs. JEMWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Fund (FHKFX) and JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX). 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.
| FHKFX | JEMWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.92 | -0.25 |
| Martin ratioReturn relative to average drawdown | 8.71 | 10.38 | -1.67 |
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Drawdowns
FHKFX vs. JEMWX - Drawdown Comparison
The maximum FHKFX drawdown since its inception was -45.47%, smaller than the maximum JEMWX drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for FHKFX and JEMWX.
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Drawdown Indicators
| FHKFX | JEMWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.47% | -49.42% | +3.95% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -14.85% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -16.71% | -15.01% | -1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -39.01% | -43.28% | +4.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.42% | — |
Current DrawdownCurrent decline from peak | -11.03% | -11.22% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -17.01% | -17.28% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 4.17% | +0.26% |
Volatility
FHKFX vs. JEMWX - Volatility Comparison
The current volatility for Fidelity Series Emerging Markets Fund (FHKFX) is 9.54%, while JPMorgan Emerging Markets Equity Fund Class R6 (JEMWX) has a volatility of 10.64%. This indicates that FHKFX experiences smaller price fluctuations and is considered to be less risky than JEMWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHKFX | JEMWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.54% | 10.64% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.41% | 22.39% | -0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 24.78% | -1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.95% | 20.23% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 19.90% | +0.28% |
FHKFX vs. JEMWX - Expense Ratio Comparison
FHKFX has a 0.01% expense ratio, which is lower than JEMWX's 0.74% expense ratio.
Dividends
FHKFX vs. JEMWX - Dividend Comparison
FHKFX's dividend yield for the trailing twelve months is around 1.98%, more than JEMWX's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHKFX Fidelity Series Emerging Markets Fund | 1.98% | 2.38% | 2.86% | 2.43% | 2.56% | 3.46% | 1.38% | 2.28% | 0.42% | 0.00% | 0.00% | 0.00% |
JEMWX JPMorgan Emerging Markets Equity Fund Class R6 | 1.17% | 1.42% | 1.63% | 1.67% | 0.67% | 4.01% | 0.18% | 0.88% | 1.05% | 0.55% | 0.89% | 1.13% |
Frequently Asked Questions
With a correlation of 0.94, FHKFX and JEMWX 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.
JEMWX has higher volatility (10.64%) compared to FHKFX (9.54%). In terms of maximum drawdown, FHKFX dropped -45.47% vs JEMWX's -49.42%.
JEMWX currently has the higher Sharpe Ratio (1.75 vs 1.63), 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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