FIDKX vs. FAOCX

Last updated Jun 24, 2026

FIDKX (Fidelity International Discovery Fund Class K) and FAOCX (Fidelity Advisor Overseas Fund Class C) are both Foreign Large Cap Equities funds from Fidelity. Over the past 10 years, FIDKX returned 10.45%/yr vs 6.48%/yr for FAOCX. With a 0.95 correlation, they move nearly in lockstep. FIDKX charges 0.90%/yr vs 2.25%/yr for FAOCX.

Performance

FIDKX vs. FAOCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Discovery Fund Class K (FIDKX) and Fidelity Advisor Overseas Fund Class C (FAOCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, FIDKX has outperformed FAOCX with an annualized return of 10.45%, while FAOCX has yielded a comparatively lower 6.48% annualized return.

FIDKX

• 1D: 0.40%
• 1M: 4.34%
• YTD: 14.87%
• 6M: 15.03%
• 1Y: 27.08%
• 3Y*: 19.56%
• 5Y*: 7.52%
• 10Y*: 10.45%

FAOCX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -1.01%
• 3Y*: 6.99%
• 5Y*: 2.79%
• 10Y*: 6.48%

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

FIDKX vs. FAOCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDKX Fidelity International Discovery Fund Class K	14.87%	27.70%	11.03%	14.30%	-24.73%	11.18%	21.55%	27.66%	-17.06%	30.27%
FAOCX Fidelity Advisor Overseas Fund Class C	0.00%	14.19%	3.86%	19.03%	-25.22%	17.97%	13.77%	26.37%	-15.77%	28.58%

Correlation

The correlation between FIDKX and FAOCX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 9, 2008	0.96

Over the past year, the correlation between FIDKX and FAOCX has dropped to 0.54 - well below their long-term average of 0.95, suggesting their price drivers have been diverging.

Return for Risk

FIDKX vs. FAOCX — Risk / Return Rank

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

FIDKX

FIDKX Risk / Return Rank: 35
FIDKX Sharpe Ratio Rank: 34
FIDKX Sortino Ratio Rank: 32
FIDKX Omega Ratio Rank: 32
FIDKX Calmar Ratio Rank: 36
FIDKX Martin Ratio Rank: 40

FAOCX

FAOCX Risk / Return Rank: 2
FAOCX Sharpe Ratio Rank: 2
FAOCX Sortino Ratio Rank: 2
FAOCX Omega Ratio Rank: 2
FAOCX Calmar Ratio Rank: 2
FAOCX 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.

FIDKX vs. FAOCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Discovery Fund Class K (FIDKX) and Fidelity Advisor Overseas Fund Class C (FAOCX). 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.

	FIDKX	FAOCX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	-0.11	+1.66
Sortino ratio: Return per unit of downside risk	2.20	-0.09	+2.29
Omega ratio: Gain probability vs. loss probability	1.28	0.99	+0.29
Calmar ratio: Return relative to maximum drawdown	2.15	-0.13	+2.28
Martin ratio: Return relative to average drawdown	8.16	-0.21	+8.38

FIDKX vs. FAOCX - Sharpe Ratio Comparison

The current FIDKX Sharpe Ratio is 1.55, which is higher than the FAOCX Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of FIDKX and FAOCX, 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

FIDKX vs. FAOCX - Drawdown Comparison

The maximum FIDKX drawdown since its inception was -56.79%, smaller than the maximum FAOCX drawdown of -60.45%. Use the drawdown chart below to compare losses from any high point for FIDKX and FAOCX.

Drawdown Indicators

	FIDKX	FAOCX	Difference
Max Drawdown Largest peak-to-trough decline	-56.79%	-60.45%	+3.66%
Max Drawdown (1Y) Largest decline over 1 year	-13.08%	-7.33%	-5.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.65%	-14.05%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-36.47%	-36.96%	+0.49%
Max Drawdown (10Y) Largest decline over 10 years	-36.47%	-36.96%	+0.49%
Current Drawdown Current decline from peak	0.00%	-5.90%	+5.90%
Average Drawdown Average peak-to-trough decline	-13.42%	-15.61%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	4.17%	-0.74%

Volatility

FIDKX vs. FAOCX - Volatility Comparison

Fidelity International Discovery Fund Class K (FIDKX) has a higher volatility of 6.45% compared to Fidelity Advisor Overseas Fund Class C (FAOCX) at 0.00%. This indicates that FIDKX's price experiences larger fluctuations and is considered to be riskier than FAOCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIDKX	FAOCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.45%	0.00%	+6.45%
Volatility (6M) Calculated over the trailing 6-month period	15.49%	3.64%	+11.85%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	8.76%	+9.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	16.71%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	16.64%	+0.41%

FIDKX vs. FAOCX - Expense Ratio Comparison

FIDKX has a 0.90% expense ratio, which is lower than FAOCX's 2.25% expense ratio.

Dividends

FIDKX vs. FAOCX - Dividend Comparison

FIDKX's dividend yield for the trailing twelve months is around 6.09%, less than FAOCX's 8.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAOCX Fidelity Advisor Overseas Fund Class C	8.26%	8.26%	0.40%	0.00%	0.00%	2.22%	0.00%	0.51%	3.72%	3.07%	0.12%	0.00%
FIDKX Fidelity International Discovery Fund Class K	6.09%	7.00%	3.01%	2.02%	0.47%	11.39%	3.78%	2.43%	4.00%	4.02%	1.96%	0.01%

Frequently Asked Questions

Can I hold both FIDKX and FAOCX in my portfolio?

FIDKX and FAOCX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIDKX or FAOCX?

FIDKX has higher volatility (6.45%) compared to FAOCX (0.00%). In terms of maximum drawdown, FIDKX dropped -56.79% vs FAOCX's -60.45%.

Which has better risk-adjusted returns?

FIDKX currently has the higher Sharpe Ratio (1.55 vs -0.11), 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.