FIMKX vs. FEDGX

Last updated Aug 4, 2026

FIMKX (Fidelity Advisor Focused Emerging Markets Fund Class I) and FEDGX (Fidelity Advisor Emerging Markets Discovery Fund Class C) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FIMKX returned 11.59%/yr vs 8.83%/yr for FEDGX. Their correlation of 0.88 means they have usually moved in the same direction. FIMKX charges 1.03%/yr vs 2.25%/yr for FEDGX.

Performance

FIMKX vs. FEDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Focused Emerging Markets Fund Class I (FIMKX) and Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIMKX achieves a 20.96% return, which is significantly higher than FEDGX's 16.93% return. Over the past 10 years, FIMKX has outperformed FEDGX with an annualized return of 11.59%, while FEDGX has yielded a comparatively lower 8.83% annualized return.

FIMKX

• 1D: 0.37%
• 1M: -2.48%
• 6M: 9.57%
• YTD: 20.96%
• 1Y: 42.71%
• 3Y*: 22.32%
• 5Y*: 9.36%
• 10Y*: 11.59%
• ALL TIME*: 9.33%

FEDGX

• 1D: -0.46%
• 1M: -1.45%
• 6M: 8.23%
• YTD: 16.93%
• 1Y: 32.02%
• 3Y*: 14.47%
• 5Y*: 7.54%
• 10Y*: 8.83%
• ALL TIME*: 7.19%

*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)
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	$0.00	$0.00	$0.00
FIMKX Fidelity Advisor Focused Emerging Markets Fund Class I	$0.00	$0.00	$0.00

FIMKX vs. FEDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIMKX Fidelity Advisor Focused Emerging Markets Fund Class I	20.96%	40.06%	9.31%	8.44%	-19.82%	-2.63%	30.43%	29.75%	-18.06%	46.67%
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	16.93%	30.50%	-4.59%	19.45%	-12.76%	5.51%	15.73%	18.27%	-19.70%	35.93%

Correlation

The correlation between FIMKX and FEDGX is 0.83, 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.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.88
Correlation (All Time) Calculated using the full available price history since Nov 2, 2011	0.88

The correlation between FIMKX and FEDGX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

Return for Risk

FIMKX vs. FEDGX — Risk / Return Rank

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

FIMKX

FIMKX Risk / Return Rank: 75
FIMKX Sharpe Ratio Rank: 77
FIMKX Sortino Ratio Rank: 69
FIMKX Omega Ratio Rank: 75
FIMKX Calmar Ratio Rank: 85
FIMKX Martin Ratio Rank: 70

FEDGX

FEDGX Risk / Return Rank: 83
FEDGX Sharpe Ratio Rank: 85
FEDGX Sortino Ratio Rank: 79
FEDGX Omega Ratio Rank: 80
FEDGX Calmar Ratio Rank: 87
FEDGX Martin Ratio Rank: 84

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.

FIMKX vs. FEDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class I (FIMKX) and Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX). 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.

	FIMKX	FEDGX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.10	-0.24
Sortino ratio: Return per unit of downside risk	2.43	2.80	-0.37
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	3.02	3.27	-0.25
Martin ratio: Return relative to average drawdown	9.14	11.00	-1.86

FIMKX vs. FEDGX - Sharpe Ratio Comparison

The current FIMKX Sharpe Ratio is 1.86, which is comparable to the FEDGX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FIMKX and FEDGX, 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

FIMKX vs. FEDGX - Drawdown Comparison

The maximum FIMKX drawdown since its inception was -69.98%, which is greater than FEDGX's maximum drawdown of -44.26%. Use the drawdown chart below to compare losses from any high point for FIMKX and FEDGX.

Drawdown Indicators

	FIMKX	FEDGX	Difference
Max Drawdown Largest peak-to-trough decline	-69.98%	-44.26%	-25.72%
Max Drawdown (1Y) Largest decline over 1 year	-13.72%	-9.66%	-4.06%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-17.77%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-36.74%	-28.29%	-8.45%
Max Drawdown (10Y) Largest decline over 10 years	-41.85%	-44.26%	+2.41%
Current Drawdown Current decline from peak	-9.55%	-3.98%	-5.57%
Average Drawdown Average peak-to-trough decline	-19.76%	-9.46%	-10.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	2.86%	+1.66%

Volatility

FIMKX vs. FEDGX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class I (FIMKX) has a higher volatility of 8.86% compared to Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX) at 5.50%. This indicates that FIMKX's price experiences larger fluctuations and is considered to be riskier than FEDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIMKX	FEDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	5.50%	+3.36%
Volatility (6M) Calculated over the trailing 6-month period	20.32%	13.09%	+7.23%
Volatility (1Y) Calculated over the trailing 1-year period	22.32%	15.05%	+7.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	14.42%	+5.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.18%	15.81%	+3.37%

FIMKX vs. FEDGX - Expense Ratio Comparison

FIMKX has a 1.03% expense ratio, which is lower than FEDGX's 2.25% expense ratio.

Dividends

FIMKX vs. FEDGX - Dividend Comparison

FIMKX's dividend yield for the trailing twelve months is around 1.30%, less than FEDGX's 3.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	3.25%	3.81%	3.01%	1.09%	0.57%	10.88%	0.00%	0.00%	0.49%	1.54%	0.58%	0.00%
FIMKX Fidelity Advisor Focused Emerging Markets Fund Class I	1.30%	1.57%	1.20%	1.60%	1.14%	5.19%	2.09%	10.86%	0.61%	0.10%	0.45%	0.19%

Frequently Asked Questions

Can I hold both FIMKX and FEDGX in my portfolio?

FIMKX and FEDGX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIMKX or FEDGX?

FIMKX has higher volatility (8.86%) compared to FEDGX (5.50%). In terms of maximum drawdown, FIMKX dropped -69.98% vs FEDGX's -44.26%.

Which has better risk-adjusted returns?

FEDGX currently has the higher Sharpe Ratio (2.10 vs 1.86), 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.