FIASX vs. FIQIX

Last updated Jun 4, 2026

FIASX (Fidelity Advisor International Small Cap Fund Class A) and FIQIX (Fidelity Advisor International Small Cap Fund Class Z) are both Foreign Small & Mid Cap Equities funds from Fidelity. Over the past 5 years, FIASX returned 6.00%/yr vs 6.41%/yr for FIQIX. With a 1.00 correlation, they move nearly in lockstep. FIASX charges 1.29%/yr vs 0.89%/yr for FIQIX.

Performance

FIASX vs. FIQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class A (FIASX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). 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 FIASX having a 10.06% return and FIQIX slightly higher at 10.24%.

FIASX

• 1D: -0.38%
• 1M: 3.40%
• YTD: 10.06%
• 6M: 11.96%
• 1Y: 18.58%
• 3Y*: 14.11%
• 5Y*: 6.00%
• 10Y*: 8.61%

FIQIX

• 1D: -0.37%
• 1M: 3.45%
• YTD: 10.24%
• 6M: 12.19%
• 1Y: 19.04%
• 3Y*: 14.55%
• 5Y*: 6.41%
• 10Y*: —

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

FIASX vs. FIQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIASX Fidelity Advisor International Small Cap Fund Class A	10.06%	24.33%	-0.23%	19.32%	-16.90%	13.15%	9.63%	21.14%	-7.58%
FIQIX Fidelity Advisor International Small Cap Fund Class Z	10.24%	24.80%	0.14%	19.76%	-16.53%	13.56%	10.12%	21.61%	-7.47%

Correlation

The correlation between FIASX and FIQIX 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	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	1.00

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

Return for Risk

FIASX vs. FIQIX — Risk / Return Rank

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

FIASX

FIASX Risk / Return Rank: 26
FIASX Sharpe Ratio Rank: 27
FIASX Sortino Ratio Rank: 27
FIASX Omega Ratio Rank: 29
FIASX Calmar Ratio Rank: 21
FIASX Martin Ratio Rank: 25

FIQIX

FIQIX Risk / Return Rank: 27
FIQIX Sharpe Ratio Rank: 29
FIQIX Sortino Ratio Rank: 29
FIQIX Omega Ratio Rank: 31
FIQIX Calmar Ratio Rank: 22
FIQIX Martin Ratio Rank: 26

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.

FIASX vs. FIQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class A (FIASX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). 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.

	FIASX	FIQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.53	-0.04
Sortino ratio: Return per unit of downside risk	2.17	2.22	-0.06
Omega ratio: Gain probability vs. loss probability	1.28	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	1.70	1.75	-0.05
Martin ratio: Return relative to average drawdown	6.07	6.26	-0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIASX vs. FIQIX - Sharpe Ratio Comparison

The current FIASX Sharpe Ratio is 1.49, which is comparable to the FIQIX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FIASX and FIQIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIASX	FIQIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	1.53	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.47	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.60	+0.12

Drawdowns

FIASX vs. FIQIX - Drawdown Comparison

The maximum FIASX drawdown since its inception was -60.99%, which is greater than FIQIX's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for FIASX and FIQIX.

Drawdown Indicators

	FIASX	FIQIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.99%	-36.61%	-24.38%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-10.72%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-12.80%	-12.65%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-31.25%	-30.95%	-0.30%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	—	—
Current Drawdown Current decline from peak	-1.07%	-1.07%	0.00%
Average Drawdown Average peak-to-trough decline	-10.79%	-6.77%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.98%	+0.02%

Volatility

FIASX vs. FIQIX - Volatility Comparison

Fidelity Advisor International Small Cap Fund Class A (FIASX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX) have volatilities of 3.80% and 3.81%, 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

	FIASX	FIQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.81%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	10.15%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	12.23%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	13.56%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.04%	15.15%	-1.11%

FIASX vs. FIQIX - Expense Ratio Comparison

FIASX has a 1.29% expense ratio, which is higher than FIQIX's 0.89% expense ratio.

Dividends

FIASX vs. FIQIX - Dividend Comparison

FIASX's dividend yield for the trailing twelve months is around 3.10%, less than FIQIX's 3.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIASX Fidelity Advisor International Small Cap Fund Class A	3.10%	3.41%	2.40%	1.67%	0.42%	7.18%	0.56%	2.11%	5.95%	2.51%	2.46%	2.85%
FIQIX Fidelity Advisor International Small Cap Fund Class Z	3.34%	3.68%	2.73%	1.99%	0.83%	7.39%	0.93%	2.47%	6.33%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIASX and FIQIX in my portfolio?

With a correlation of 1.00, FIASX and FIQIX 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, FIASX or FIQIX?

FIQIX has higher volatility (3.81%) compared to FIASX (3.80%). In terms of maximum drawdown, FIASX dropped -60.99% vs FIQIX's -36.61%.

Which has better risk-adjusted returns?

FIQIX currently has the higher Sharpe Ratio (1.53 vs 1.49), 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.