FIXIX vs. RYIPX

Last updated Jun 24, 2026

FIXIX (Fidelity Advisor International Small Cap Fund Class I) and RYIPX (Royce International Premier Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FIXIX returned 9.53%/yr vs 4.80%/yr for RYIPX. Their correlation of 0.86 suggests significant overlap in exposure. FIXIX charges 1.02%/yr vs 1.44%/yr for RYIPX.

Performance

FIXIX vs. RYIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Small Cap Fund Class I (FIXIX) and Royce International Premier Fund (RYIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIXIX achieves a 11.11% return, which is significantly higher than RYIPX's -0.07% return. Over the past 10 years, FIXIX has outperformed RYIPX with an annualized return of 9.53%, while RYIPX has yielded a comparatively lower 4.80% annualized return.

FIXIX

• 1D: -0.17%
• 1M: 1.28%
• YTD: 11.11%
• 6M: 10.96%
• 1Y: 19.53%
• 3Y*: 15.10%
• 5Y*: 6.85%
• 10Y*: 9.53%

RYIPX

• 1D: -0.13%
• 1M: -3.41%
• YTD: -0.07%
• 6M: -0.46%
• 1Y: -2.94%
• 3Y*: 1.57%
• 5Y*: -4.61%
• 10Y*: 4.80%

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

FIXIX vs. RYIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIXIX Fidelity Advisor International Small Cap Fund Class I	11.11%	24.65%	0.02%	19.63%	-16.66%	13.44%	9.97%	21.45%	-16.09%	31.49%
RYIPX Royce International Premier Fund	-0.07%	9.37%	-7.37%	7.68%	-27.27%	5.77%	15.74%	34.22%	-12.76%	39.80%

Correlation

The correlation between FIXIX and RYIPX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011	0.86

The correlation between FIXIX and RYIPX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

FIXIX vs. RYIPX — Risk / Return Rank

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

FIXIX

FIXIX Risk / Return Rank: 32
FIXIX Sharpe Ratio Rank: 34
FIXIX Sortino Ratio Rank: 34
FIXIX Omega Ratio Rank: 36
FIXIX Calmar Ratio Rank: 28
FIXIX Martin Ratio Rank: 31

RYIPX

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

FIXIX vs. RYIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Fund Class I (FIXIX) and Royce International Premier Fund (RYIPX). 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.

	FIXIX	RYIPX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	-0.17	+1.73
Sortino ratio: Return per unit of downside risk	2.27	-0.15	+2.42
Omega ratio: Gain probability vs. loss probability	1.30	0.98	+0.31
Calmar ratio: Return relative to maximum drawdown	1.87	-0.14	+2.00
Martin ratio: Return relative to average drawdown	6.58	-0.32	+6.90

FIXIX vs. RYIPX - Sharpe Ratio Comparison

The current FIXIX Sharpe Ratio is 1.56, which is higher than the RYIPX Sharpe Ratio of -0.17. The chart below compares the historical Sharpe Ratios of FIXIX and RYIPX, 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

FIXIX vs. RYIPX - Drawdown Comparison

The maximum FIXIX drawdown since its inception was -60.85%, which is greater than RYIPX's maximum drawdown of -42.14%. Use the drawdown chart below to compare losses from any high point for FIXIX and RYIPX.

Drawdown Indicators

	FIXIX	RYIPX	Difference
Max Drawdown Largest peak-to-trough decline	-60.85%	-42.14%	-18.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.73%	-16.68%	+5.95%
Max Drawdown (3Y) Largest decline over 3 years	-12.69%	-17.41%	+4.72%
Max Drawdown (5Y) Largest decline over 5 years	-31.05%	-42.14%	+11.09%
Max Drawdown (10Y) Largest decline over 10 years	-38.82%	-42.14%	+3.32%
Current Drawdown Current decline from peak	-0.29%	-27.62%	+27.33%
Average Drawdown Average peak-to-trough decline	-10.55%	-12.40%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	7.03%	-3.99%

Volatility

FIXIX vs. RYIPX - Volatility Comparison

Fidelity Advisor International Small Cap Fund Class I (FIXIX) has a higher volatility of 5.01% compared to Royce International Premier Fund (RYIPX) at 4.07%. This indicates that FIXIX's price experiences larger fluctuations and is considered to be riskier than RYIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXIX	RYIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	4.07%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	10.94%	11.14%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	12.88%	13.30%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.67%	15.49%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	15.21%	-1.15%

FIXIX vs. RYIPX - Expense Ratio Comparison

FIXIX has a 1.02% expense ratio, which is lower than RYIPX's 1.44% expense ratio.

Dividends

FIXIX vs. RYIPX - Dividend Comparison

FIXIX's dividend yield for the trailing twelve months is around 3.18%, more than RYIPX's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXIX Fidelity Advisor International Small Cap Fund Class I	3.18%	3.54%	2.59%	1.88%	0.68%	7.25%	0.81%	2.32%	6.13%	2.45%	2.81%	2.78%
RYIPX Royce International Premier Fund	0.79%	0.79%	4.10%	2.18%	3.18%	4.51%	0.00%	0.20%	0.00%	0.71%	2.40%	2.61%

Frequently Asked Questions

Can I hold both FIXIX and RYIPX in my portfolio?

FIXIX and RYIPX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIXIX or RYIPX?

FIXIX has higher volatility (5.01%) compared to RYIPX (4.07%). In terms of maximum drawdown, FIXIX dropped -60.85% vs RYIPX's -42.14%.

Which has better risk-adjusted returns?

FIXIX currently has the higher Sharpe Ratio (1.56 vs -0.17), 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.