FHKFX vs. PEAFX
FHKFX (Fidelity Series Emerging Markets Fund) and PEAFX (PIMCO RAE Emerging Markets Fund Class A) are both Emerging Markets Equities funds. Over the past 5 years, FHKFX returned 7.54%/yr vs 7.84%/yr for PEAFX. Their correlation of 0.82 means they have usually moved in the same direction. FHKFX charges 0.01%/yr vs 1.10%/yr for PEAFX.
Performance
FHKFX vs. PEAFX - Performance Comparison
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Returns By Period
In the year-to-date period, FHKFX achieves a 20.27% return, which is significantly higher than PEAFX's 11.38% return.
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%
PEAFX
- 1D
- 2.23%
- 1M
- 2.64%
- 6M
- 1.34%
- YTD
- 11.38%
- 1Y
- 19.17%
- 3Y*
- 11.69%
- 5Y*
- 7.84%
- 10Y*
- 9.35%
- ALL TIME*
- 11.46%
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. PEAFX - 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% |
PEAFX PIMCO RAE Emerging Markets Fund Class A | 11.38% | 20.25% | 1.14% | 22.28% | -10.71% | 15.47% | 6.43% | 13.30% | -6.61% |
Correlation
The correlation between FHKFX and PEAFX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018 | 0.82 |
The correlation between FHKFX and PEAFX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
FHKFX vs. PEAFX — Risk / Return Rank
FHKFX
PEAFX
FHKFX vs. PEAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Emerging Markets Fund (FHKFX) and PIMCO RAE Emerging Markets Fund Class A (PEAFX). 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 | PEAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.61 | +1.06 |
| Martin ratioReturn relative to average drawdown | 8.71 | 4.12 | +4.59 |
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Drawdowns
FHKFX vs. PEAFX - Drawdown Comparison
The maximum FHKFX drawdown since its inception was -45.47%, roughly equal to the maximum PEAFX drawdown of -47.18%. Use the drawdown chart below to compare losses from any high point for FHKFX and PEAFX.
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Drawdown Indicators
| FHKFX | PEAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.47% | -47.18% | +1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -9.98% | -4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -16.71% | -22.22% | +5.51% |
Max Drawdown (5Y)Largest decline over 5 years | -39.01% | -26.16% | -12.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.18% | — |
Current DrawdownCurrent decline from peak | -11.03% | -5.74% | -5.29% |
Average DrawdownAverage peak-to-trough decline | -17.01% | -10.11% | -6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.43% | 3.89% | +0.54% |
Volatility
FHKFX vs. PEAFX - Volatility Comparison
Fidelity Series Emerging Markets Fund (FHKFX) has a higher volatility of 9.54% compared to PIMCO RAE Emerging Markets Fund Class A (PEAFX) at 5.08%. This indicates that FHKFX's price experiences larger fluctuations and is considered to be riskier than PEAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHKFX | PEAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.54% | 5.08% | +4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 21.41% | 12.50% | +8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.69% | 15.43% | +8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.95% | 15.05% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.18% | 17.05% | +3.13% |
FHKFX vs. PEAFX - Expense Ratio Comparison
FHKFX has a 0.01% expense ratio, which is lower than PEAFX's 1.10% expense ratio.
Dividends
FHKFX vs. PEAFX - Dividend Comparison
FHKFX's dividend yield for the trailing twelve months is around 1.98%, less than PEAFX's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PEAFX PIMCO RAE Emerging Markets Fund Class A | 2.67% | 2.97% | 1.01% | 4.01% | 11.33% | 9.19% | 7.05% | 2.48% | 11.05% | 8.07% | 2.59% |
Frequently Asked Questions
FHKFX and PEAFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHKFX has higher volatility (9.54%) compared to PEAFX (5.08%). In terms of maximum drawdown, FHKFX dropped -45.47% vs PEAFX's -47.18%.
FHKFX currently has the higher Sharpe Ratio (1.63 vs 1.04), 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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