FIQJX vs. CSGIX
FIQJX (Fidelity Advisor International Small Cap Opportunities Fund Class Z) and CSGIX (Calamos International Small Cap Growth Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, FIQJX returned 13.72%/yr vs 22.29%/yr for CSGIX. A 0.80 correlation means they provide meaningful diversification when combined. FIQJX charges 1.11%/yr vs 2.67%/yr for CSGIX.
Performance
FIQJX vs. CSGIX - Performance Comparison
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Returns By Period
In the year-to-date period, FIQJX achieves a 6.77% return, which is significantly lower than CSGIX's 32.95% return.
FIQJX
- 1D
- 0.43%
- 1M
- -1.15%
- YTD
- 6.77%
- 6M
- 7.42%
- 1Y
- 15.76%
- 3Y*
- 13.72%
- 5Y*
- 5.14%
- 10Y*
- —
CSGIX
- 1D
- 1.56%
- 1M
- -0.66%
- YTD
- 32.95%
- 6M
- 34.02%
- 1Y
- 33.65%
- 3Y*
- 22.29%
- 5Y*
- —
- 10Y*
- —
FIQJX vs. CSGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FIQJX Fidelity Advisor International Small Cap Opportunities Fund Class Z | 6.77% | 25.17% | 4.17% | 17.10% | -14.58% |
CSGIX Calamos International Small Cap Growth Fund | 32.95% | 15.11% | 10.21% | 13.62% | -20.14% |
Correlation
The correlation between FIQJX and CSGIX is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2022 | 0.80 |
The correlation between FIQJX and CSGIX has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
FIQJX vs. CSGIX — Risk / Return Rank
FIQJX
CSGIX
FIQJX vs. CSGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Opportunities Fund Class Z (FIQJX) and Calamos International Small Cap Growth Fund (CSGIX). 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.
| FIQJX | CSGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.29 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.39 | -1.01 |
| Martin ratioReturn relative to average drawdown | 4.57 | 6.16 | -1.59 |
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Drawdowns
FIQJX vs. CSGIX - Drawdown Comparison
The maximum FIQJX drawdown since its inception was -40.67%, which is greater than CSGIX's maximum drawdown of -26.50%. Use the drawdown chart below to compare losses from any high point for FIQJX and CSGIX.
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Drawdown Indicators
| FIQJX | CSGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.67% | -26.50% | -14.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -13.68% | +2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -14.60% | -20.13% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -40.67% | — | — |
Current DrawdownCurrent decline from peak | -1.86% | -4.03% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -11.76% | -10.20% | -1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.34% | 5.31% | -1.97% |
Volatility
FIQJX vs. CSGIX - Volatility Comparison
The current volatility for Fidelity Advisor International Small Cap Opportunities Fund Class Z (FIQJX) is 4.74%, while Calamos International Small Cap Growth Fund (CSGIX) has a volatility of 9.26%. This indicates that FIQJX experiences smaller price fluctuations and is considered to be less risky than CSGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIQJX | CSGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 9.26% | -4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 18.20% | -6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.97% | 20.71% | -6.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 17.93% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 17.93% | -0.58% |
FIQJX vs. CSGIX - Expense Ratio Comparison
FIQJX has a 1.11% expense ratio, which is lower than CSGIX's 2.67% expense ratio.
Dividends
FIQJX vs. CSGIX - Dividend Comparison
FIQJX's dividend yield for the trailing twelve months is around 11.37%, more than CSGIX's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CSGIX Calamos International Small Cap Growth Fund | 0.92% | 1.22% | 0.00% | 0.00% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% |
FIQJX Fidelity Advisor International Small Cap Opportunities Fund Class Z | 11.37% | 12.14% | 6.63% | 3.88% | 6.61% | 9.01% | 0.00% | 1.24% | 3.21% |
Frequently Asked Questions
FIQJX and CSGIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSGIX has higher volatility (9.26%) compared to FIQJX (4.74%). In terms of maximum drawdown, FIQJX dropped -40.67% vs CSGIX's -26.50%.
CSGIX currently has the higher Sharpe Ratio (1.58 vs 1.09), 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.
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