FIATX vs. QQQI

Last updated Aug 2, 2026

FIATX (Fidelity Advisor International Capital Appreciation Fund Class M) and QQQI (NEOS Nasdaq-100 High Income ETF) are both funds - FIATX is a Foreign Large Cap Equities fund managed by Fidelity, while QQQI is a Nasdaq-100 fund actively managed by Neos. Over the past year, FIATX returned 7.09% vs 17.94% for QQQI. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FIATX charges 1.49%/yr vs 0.68%/yr for QQQI.

Performance

FIATX vs. QQQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) and NEOS Nasdaq-100 High Income ETF (QQQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIATX achieves a 4.59% return, which is significantly lower than QQQI's 6.90% return.

FIATX

• 1D: 4.49%
• 1M: -3.74%
• 6M: 0.00%
• YTD: 4.59%
• 1Y: 7.09%
• 3Y*: 12.38%
• 5Y*: 4.97%
• 10Y*: 9.08%
• ALL TIME*: 7.10%

QQQI

• 1D: 0.68%
• 1M: -3.08%
• 6M: 5.69%
• YTD: 6.90%
• 1Y: 17.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	$0.00	$0.00	$0.00
QQQI NEOS Nasdaq-100 High Income ETF	$341.25M	$334.46M	$358.36M

FIATX vs. QQQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	4.59%	18.07%	5.95%
QQQI NEOS Nasdaq-100 High Income ETF	6.90%	18.62%	19.44%

Correlation

The correlation between FIATX and QQQI is 0.85, 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.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 30, 2024	0.79

The correlation between FIATX and QQQI has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

FIATX vs. QQQI - Sectors Allocation Comparison

Sectors	FIATX	QQQI
Industrials	31.0%	4.3%
Technology	29.5%	59.9%
Financial Services	21.4%	0.2%
Basic Materials	7.8%	1.1%
Consumer Cyclical	4.1%	10.0%
Consumer Defensive	3.2%	6.5%
Utilities	1.7%	1.2%
Energy	1.5%	0.5%
Healthcare	1.5%	3.7%
Communication Services	1.2%	12.1%
Real Estate	-	0.1%

Return for Risk

FIATX vs. QQQI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIATX

FIATX Risk / Return Rank: 9
FIATX Sharpe Ratio Rank: 8
FIATX Sortino Ratio Rank: 8
FIATX Omega Ratio Rank: 9
FIATX Calmar Ratio Rank: 9
FIATX Martin Ratio Rank: 10

QQQI

QQQI Risk / Return Rank: 43
QQQI Sharpe Ratio Rank: 40
QQQI Sortino Ratio Rank: 38
QQQI Omega Ratio Rank: 39
QQQI Calmar Ratio Rank: 47
QQQI Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIATX vs. QQQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) and NEOS Nasdaq-100 High Income ETF (QQQI). 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.

	FIATX	QQQI	Difference
Sharpe ratio: Return per unit of total volatility	0.25	0.98	-0.73
Sortino ratio: Return per unit of downside risk	0.50	1.42	-0.91
Omega ratio: Gain probability vs. loss probability	1.06	1.18	-0.12
Calmar ratio: Return relative to maximum drawdown	0.36	1.67	-1.31
Martin ratio: Return relative to average drawdown	1.19	6.03	-4.83

FIATX vs. QQQI - Sharpe Ratio Comparison

The current FIATX Sharpe Ratio is 0.25, which is lower than the QQQI Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of FIATX and QQQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIATX vs. QQQI - Drawdown Comparison

The maximum FIATX drawdown since its inception was -68.05%, which is greater than QQQI's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for FIATX and QQQI.

Drawdown Indicators

	FIATX	QQQI	Difference
Max Drawdown Largest peak-to-trough decline	-68.05%	-20.00%	-48.05%
Max Drawdown (1Y) Largest decline over 1 year	-14.52%	-9.61%	-4.91%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	—	—
Current Drawdown Current decline from peak	-8.37%	-5.92%	-2.45%
Average Drawdown Average peak-to-trough decline	-16.41%	-2.27%	-14.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	2.67%	+1.71%

Volatility

FIATX vs. QQQI - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) has a higher volatility of 8.72% compared to NEOS Nasdaq-100 High Income ETF (QQQI) at 6.53%. This indicates that FIATX's price experiences larger fluctuations and is considered to be riskier than QQQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIATX	QQQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.72%	6.53%	+2.19%
Volatility (6M) Calculated over the trailing 6-month period	19.27%	13.66%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	16.35%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.58%	17.75%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	17.75%	+0.53%

FIATX vs. QQQI - Expense Ratio Comparison

FIATX has a 1.49% expense ratio, which is higher than QQQI's 0.68% expense ratio.

Dividends

FIATX vs. QQQI - Dividend Comparison

FIATX's dividend yield for the trailing twelve months is around 5.41%, less than QQQI's 14.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	5.41%	5.66%	0.35%	0.00%	0.00%	3.67%	0.00%	0.20%
QQQI NEOS Nasdaq-100 High Income ETF	14.38%	13.82%	12.85%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIATX and QQQI in my portfolio?

FIATX and QQQI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIATX or QQQI?

FIATX has higher volatility (8.72%) compared to QQQI (6.53%). In terms of maximum drawdown, FIATX dropped -68.05% vs QQQI's -20.00%.

Which has better risk-adjusted returns?

QQQI currently has the higher Sharpe Ratio (0.98 vs 0.25), 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.