FKEMX vs. SPY
Compare and contrast key facts about Fidelity Emerging Markets K (FKEMX) and State Street SPDR S&P 500 ETF (SPY).
FKEMX is managed by Fidelity. It was launched on May 9, 2008. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FKEMX vs. SPY - Performance Comparison
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FKEMX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FKEMX Fidelity Emerging Markets K | 0.98% | 31.18% | 7.26% | 15.36% | -27.42% | 1.40% | 32.68% | 33.86% | -17.92% | 46.97% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FKEMX achieves a 0.98% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, FKEMX has underperformed SPY with an annualized return of 10.08%, while SPY has yielded a comparatively higher 14.06% annualized return.
FKEMX
- 1D
- 3.49%
- 1M
- -7.62%
- YTD
- 0.98%
- 6M
- 4.40%
- 1Y
- 33.13%
- 3Y*
- 14.76%
- 5Y*
- 3.11%
- 10Y*
- 10.08%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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FKEMX vs. SPY - Expense Ratio Comparison
FKEMX has a 0.77% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FKEMX vs. SPY — Risk / Return Rank
FKEMX
SPY
FKEMX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets K (FKEMX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 0.96 | +0.80 |
Sortino ratioReturn per unit of downside risk | 2.36 | 1.49 | +0.87 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.23 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.53 | +0.83 |
Martin ratioReturn relative to average drawdown | 8.85 | 7.27 | +1.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FKEMX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 0.96 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.70 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.79 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.56 | -0.39 |
Correlation
The correlation between FKEMX and SPY is 0.71, 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. SPY - Dividend Comparison
FKEMX's dividend yield for the trailing twelve months is around 0.07%, less than SPY's 1.13% 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% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FKEMX vs. SPY - Drawdown Comparison
The maximum FKEMX drawdown since its inception was -69.07%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FKEMX and SPY.
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Drawdown Indicators
| FKEMX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.07% | -55.19% | -13.88% |
Max Drawdown (1Y)Largest decline over 1 year | -13.00% | -12.05% | -0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -40.79% | -24.50% | -16.29% |
Max Drawdown (10Y)Largest decline over 10 years | -43.13% | -33.72% | -9.41% |
Current DrawdownCurrent decline from peak | -9.97% | -5.53% | -4.44% |
Average DrawdownAverage peak-to-trough decline | -21.49% | -9.09% | -12.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 2.54% | +0.93% |
Volatility
FKEMX vs. SPY - Volatility Comparison
Fidelity Emerging Markets K (FKEMX) has a higher volatility of 9.99% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that FKEMX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FKEMX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.99% | 5.35% | +4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 9.50% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 19.06% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.56% | 17.06% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.46% | 17.92% | +0.54% |