FICSX vs. FIASX

Last updated Jun 4, 2026

FICSX (Fidelity Advisor International Small Cap Fund Class C) and FIASX (Fidelity Advisor International Small Cap Fund Class A) are both Foreign Small & Mid Cap Equities funds from Fidelity. Over the past 10 years, FICSX returned 7.84%/yr vs 8.61%/yr for FIASX. With a 1.00 correlation, they move nearly in lockstep. FICSX charges 2.05%/yr vs 1.29%/yr for FIASX.

Performance

FICSX vs. FIASX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class C (FICSX) and Fidelity Advisor International Small Cap Fund Class A (FIASX). 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 FICSX having a 9.70% return and FIASX slightly higher at 10.06%. Over the past 10 years, FICSX has underperformed FIASX with an annualized return of 7.84%, while FIASX has yielded a comparatively higher 8.61% annualized return.

FICSX

• 1D: -0.39%
• 1M: 3.33%
• YTD: 9.70%
• 6M: 11.56%
• 1Y: 17.70%
• 3Y*: 13.26%
• 5Y*: 5.20%
• 10Y*: 7.84%

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%

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

FICSX vs. FIASX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FICSX Fidelity Advisor International Small Cap Fund Class C	9.70%	23.45%	-1.00%	18.40%	-17.50%	12.27%	8.81%	20.21%	-16.98%	30.98%
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%	-16.35%	31.47%

Correlation

The correlation between FICSX and FIASX 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 (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Oct 1, 2002	1.00

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

FICSX vs. FIASX - Sectors Allocation Comparison

Sectors	FICSX	FIASX
Industrials	22.9%	22.9%
Financial Services	15.5%	15.5%
Consumer Cyclical	11.7%	11.7%
Consumer Defensive	10.1%	10.1%
Technology	10.0%	10.0%
Basic Materials	8.3%	8.3%
Healthcare	7.5%	7.5%
Real Estate	5.5%	5.5%
Communication Services	4.0%	4.0%
Energy	3.5%	3.5%
Utilities	1.1%	1.1%

Return for Risk

FICSX vs. FIASX — Risk / Return Rank

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

FICSX

FICSX Risk / Return Rank: 23
FICSX Sharpe Ratio Rank: 24
FICSX Sortino Ratio Rank: 24
FICSX Omega Ratio Rank: 26
FICSX Calmar Ratio Rank: 20
FICSX Martin Ratio Rank: 23

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

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.

FICSX vs. FIASX - Risk-Adjusted Trends Comparison

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

	FICSX	FIASX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.49	-0.07
Sortino ratio: Return per unit of downside risk	2.07	2.17	-0.10
Omega ratio: Gain probability vs. loss probability	1.27	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	1.61	1.70	-0.08
Martin ratio: Return relative to average drawdown	5.72	6.07	-0.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FICSX vs. FIASX - Sharpe Ratio Comparison

The current FICSX Sharpe Ratio is 1.42, which is comparable to the FIASX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of FICSX and FIASX, 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

	FICSX	FIASX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.49	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.44	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.62	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.72	-0.05

Drawdowns

FICSX vs. FIASX - Drawdown Comparison

The maximum FICSX drawdown since its inception was -61.39%, roughly equal to the maximum FIASX drawdown of -60.99%. Use the drawdown chart below to compare losses from any high point for FICSX and FIASX.

Drawdown Indicators

	FICSX	FIASX	Difference
Max Drawdown Largest peak-to-trough decline	-61.39%	-60.99%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-10.76%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.15%	-12.80%	-0.35%
Max Drawdown (5Y) Largest decline over 5 years	-31.79%	-31.25%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	-40.18%	-39.16%	-1.02%
Current Drawdown Current decline from peak	-1.10%	-1.07%	-0.03%
Average Drawdown Average peak-to-trough decline	-11.39%	-10.79%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	3.00%	+0.03%

Volatility

FICSX vs. FIASX - Volatility Comparison

Fidelity Advisor International Small Cap Fund Class C (FICSX) and Fidelity Advisor International Small Cap Fund Class A (FIASX) have volatilities of 3.80% and 3.80%, 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

	FICSX	FIASX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.80%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	10.15%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	12.24%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	13.56%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	14.04%	+0.02%

FICSX vs. FIASX - Expense Ratio Comparison

FICSX has a 2.05% expense ratio, which is higher than FIASX's 1.29% expense ratio.

Dividends

FICSX vs. FIASX - Dividend Comparison

FICSX's dividend yield for the trailing twelve months is around 2.49%, less than FIASX's 3.10% 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%
FICSX Fidelity Advisor International Small Cap Fund Class C	2.49%	2.73%	1.59%	0.97%	0.00%	6.57%	0.00%	1.20%	5.20%	2.59%	1.66%	2.93%

Frequently Asked Questions

Can I hold both FICSX and FIASX in my portfolio?

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

FIASX has higher volatility (3.80%) compared to FICSX (3.80%). In terms of maximum drawdown, FICSX dropped -61.39% vs FIASX's -60.99%.

Which has better risk-adjusted returns?

FIASX currently has the higher Sharpe Ratio (1.49 vs 1.42), 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.