FKEMX vs. AVES

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Emerging Markets K (FKEMX) and Avantis Emerging Markets Value ETF (AVES).

FKEMX is managed by Fidelity. It was launched on May 9, 2008. AVES is an actively managed fund by American Century. It was launched on Sep 28, 2021.

Performance

FKEMX vs. AVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Markets K (FKEMX) and Avantis Emerging Markets Value ETF (AVES). The values are adjusted to include any dividend payments, if applicable.

FKEMX vs. AVES - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FKEMX Fidelity Emerging Markets K	-2.42%	31.18%	7.26%	15.36%	-27.42%	0.22%
AVES Avantis Emerging Markets Value ETF	2.97%	30.49%	4.50%	16.79%	-16.04%	1.32%

Returns By Period

In the year-to-date period, FKEMX achieves a -2.42% return, which is significantly lower than AVES's 2.97% return.

FKEMX

• 1D: -0.90%
• 1M: -11.42%
• YTD: -2.42%
• 6M: 1.57%
• 1Y: 29.50%
• 3Y*: 13.46%
• 5Y*: 2.72%
• 10Y*: 9.70%

AVES

• 1D: 3.01%
• 1M: -9.24%
• YTD: 2.97%
• 6M: 6.68%
• 1Y: 31.64%
• 3Y*: 16.33%
• 5Y*: —
• 10Y*: —

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

FKEMX vs. AVES - Expense Ratio Comparison

FKEMX has a 0.77% expense ratio, which is higher than AVES's 0.36% expense ratio.

FKEMX

Fidelity Emerging Markets K

AVES

Avantis Emerging Markets Value ETF

Return for Risk

FKEMX vs. AVES — Risk / Return Rank

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

FKEMX

FKEMX Risk / Return Rank: 80
FKEMX Sharpe Ratio Rank: 81
FKEMX Sortino Ratio Rank: 81
FKEMX Omega Ratio Rank: 77
FKEMX Calmar Ratio Rank: 84
FKEMX Martin Ratio Rank: 78

AVES

AVES Risk / Return Rank: 86
AVES Sharpe Ratio Rank: 87
AVES Sortino Ratio Rank: 87
AVES Omega Ratio Rank: 88
AVES Calmar Ratio Rank: 85
AVES Martin Ratio Rank: 85

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.

FKEMX vs. AVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets K (FKEMX) and Avantis Emerging Markets Value ETF (AVES). 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.

	FKEMX	AVES	Difference
Sharpe ratio Return per unit of total volatility	1.50	1.76	-0.26
Sortino ratio Return per unit of downside risk	2.04	2.32	-0.28
Omega ratio Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio Return relative to maximum drawdown	2.06	2.40	-0.34
Martin ratio Return relative to average drawdown	7.52	9.31	-1.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FKEMX vs. AVES - Sharpe Ratio Comparison

The current FKEMX Sharpe Ratio is 1.50, which is comparable to the AVES Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FKEMX and AVES, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FKEMX	AVES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.76	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.46	-0.29

Correlation

The correlation between FKEMX and AVES is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FKEMX vs. AVES - Dividend Comparison

FKEMX's dividend yield for the trailing twelve months is around 0.07%, less than AVES's 3.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKEMX Fidelity Emerging Markets K	0.07%	0.07%	0.78%	1.24%	0.89%	6.18%	1.46%	1.85%	1.00%	0.08%	0.84%	0.70%
AVES Avantis Emerging Markets Value ETF	3.19%	3.17%	4.09%	3.96%	3.70%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FKEMX vs. AVES - Drawdown Comparison

The maximum FKEMX drawdown since its inception was -69.07%, which is greater than AVES's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for FKEMX and AVES.

Drawdown Indicators

	FKEMX	AVES	Difference
Max Drawdown Largest peak-to-trough decline	-69.07%	-27.40%	-41.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.00%	-12.90%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-40.79%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.13%	—	—
Current Drawdown Current decline from peak	-13.00%	-10.28%	-2.72%
Average Drawdown Average peak-to-trough decline	-21.49%	-7.91%	-13.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.33%	+0.24%

Volatility

FKEMX vs. AVES - Volatility Comparison

Fidelity Emerging Markets K (FKEMX) and Avantis Emerging Markets Value ETF (AVES) have volatilities of 9.16% and 8.89%, 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

	FKEMX	AVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.16%	8.89%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	12.90%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	19.35%	18.09%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.50%	16.73%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	16.73%	+1.69%