FICQX vs. FAERX

Last updated Jun 5, 2026

FICQX (Fidelity International Capital Appreciation Fund) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds from Fidelity. At a 0.40 correlation, their price movements are largely independent. FICQX charges 0.81%/yr vs 1.65%/yr for FAERX.

Performance

FICQX vs. FAERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Capital Appreciation Fund (FICQX) and Fidelity Advisor Overseas Fund Class M (FAERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FICQX

• 1D: -0.69%
• 1M: 3.69%
• YTD: 9.40%
• 6M: 11.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FAERX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -2.43%
• 3Y*: 8.31%
• 5Y*: 3.03%
• 10Y*: 6.87%

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

FICQX vs. FAERX - Yearly Performance Comparison

	2026 (YTD)	2025
FICQX Fidelity International Capital Appreciation Fund	9.40%	0.38%
FAERX Fidelity Advisor Overseas Fund Class M	0.00%	-3.42%

Correlation

The correlation between FICQX and FAERX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 27, 2025	0.40

Return for Risk

FICQX vs. FAERX — Risk / Return Rank

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

FAERX

FAERX Risk / Return Rank: 2
FAERX Sharpe Ratio Rank: 2
FAERX Sortino Ratio Rank: 2
FAERX Omega Ratio Rank: 2
FAERX Calmar Ratio Rank: 2
FAERX Martin Ratio Rank: 2

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.

FICQX vs. FAERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Capital Appreciation Fund (FICQX) and Fidelity Advisor Overseas Fund Class M (FAERX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FICQX	FAERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.24	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.31	+0.39

Drawdowns

FICQX vs. FAERX - Drawdown Comparison

The maximum FICQX drawdown since its inception was -14.45%, smaller than the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for FICQX and FAERX.

Drawdown Indicators

	FICQX	FAERX	Difference
Max Drawdown Largest peak-to-trough decline	-14.45%	-60.14%	+45.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.29%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.62%	—
Current Drawdown Current decline from peak	-0.69%	-5.89%	+5.20%
Average Drawdown Average peak-to-trough decline	-2.86%	-14.37%	+11.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.01%	—

Volatility

Volatility by Period

	FICQX	FAERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	9.16%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.59%	16.73%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.59%	16.69%	+1.90%

FICQX vs. FAERX - Expense Ratio Comparison

FICQX has a 0.81% expense ratio, which is lower than FAERX's 1.65% expense ratio.

Dividends

FICQX vs. FAERX - Dividend Comparison

FICQX's dividend yield for the trailing twelve months is around 5.46%, less than FAERX's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAERX Fidelity Advisor Overseas Fund Class M	7.94%	7.94%	0.96%	0.51%	0.12%	2.07%	0.00%	1.15%	4.25%	3.35%	0.80%	0.09%
FICQX Fidelity International Capital Appreciation Fund	5.46%	5.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FICQX and FAERX in my portfolio?

FICQX and FAERX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.