FMCKX vs. SEMNX

Last updated Jun 23, 2026

FMCKX (Fidelity Advisor Focused Emerging Markets Fund Class C) and SEMNX (Hartford Schroders Emerging Markets Equity Fund Class I) are both Emerging Markets Equities funds. Over the past 10 years, FMCKX returned 11.95%/yr vs 12.18%/yr for SEMNX. With a 0.95 correlation, they move nearly in lockstep. FMCKX charges 2.11%/yr vs 1.23%/yr for SEMNX.

Performance

FMCKX vs. SEMNX - Performance Comparison

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

Returns By Period

In the year-to-date period, FMCKX achieves a 30.85% return, which is significantly lower than SEMNX's 35.69% return. Both investments have delivered pretty close results over the past 10 years, with FMCKX having a 11.95% annualized return and SEMNX not far ahead at 12.18%.

FMCKX

• 1D: 2.42%
• 1M: 6.37%
• YTD: 30.85%
• 6M: 32.56%
• 1Y: 63.12%
• 3Y*: 24.99%
• 5Y*: 8.73%
• 10Y*: 11.95%

SEMNX

• 1D: 3.66%
• 1M: 7.94%
• YTD: 35.69%
• 6M: 38.26%
• 1Y: 72.10%
• 3Y*: 26.34%
• 5Y*: 9.47%
• 10Y*: 12.18%

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

FMCKX vs. SEMNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMCKX Fidelity Advisor Focused Emerging Markets Fund Class C	30.85%	38.72%	8.19%	7.32%	-20.72%	-3.67%	29.01%	28.31%	-18.95%	45.62%
SEMNX Hartford Schroders Emerging Markets Equity Fund Class I	35.69%	40.36%	7.56%	8.80%	-22.30%	-5.11%	23.58%	22.12%	-15.57%	40.87%

Correlation

The correlation between FMCKX and SEMNX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007	0.95

The correlation between FMCKX and SEMNX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FMCKX vs. SEMNX — Risk / Return Rank

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

FMCKX

FMCKX Risk / Return Rank: 90
FMCKX Sharpe Ratio Rank: 95
FMCKX Sortino Ratio Rank: 86
FMCKX Omega Ratio Rank: 88
FMCKX Calmar Ratio Rank: 91
FMCKX Martin Ratio Rank: 91

SEMNX

SEMNX Risk / Return Rank: 91
SEMNX Sharpe Ratio Rank: 96
SEMNX Sortino Ratio Rank: 84
SEMNX Omega Ratio Rank: 88
SEMNX Calmar Ratio Rank: 93
SEMNX Martin Ratio Rank: 93

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.

FMCKX vs. SEMNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class C (FMCKX) and Hartford Schroders Emerging Markets Equity Fund Class I (SEMNX). 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.

	FMCKX	SEMNX	Difference
Sharpe ratio: Return per unit of total volatility	3.08	3.15	-0.07
Sortino ratio: Return per unit of downside risk	3.79	3.68	+0.11
Omega ratio: Gain probability vs. loss probability	1.57	1.58	-0.01
Calmar ratio: Return relative to maximum drawdown	4.48	4.85	-0.37
Martin ratio: Return relative to average drawdown	17.18	18.49	-1.31

FMCKX vs. SEMNX - Sharpe Ratio Comparison

The current FMCKX Sharpe Ratio is 3.08, which is comparable to the SEMNX Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of FMCKX and SEMNX, 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

FMCKX vs. SEMNX - Drawdown Comparison

The maximum FMCKX drawdown since its inception was -70.33%, which is greater than SEMNX's maximum drawdown of -65.10%. Use the drawdown chart below to compare losses from any high point for FMCKX and SEMNX.

Drawdown Indicators

	FMCKX	SEMNX	Difference
Max Drawdown Largest peak-to-trough decline	-70.33%	-65.10%	-5.23%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-14.80%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.15%	-16.67%	-2.48%
Max Drawdown (5Y) Largest decline over 5 years	-40.41%	-39.49%	-0.92%
Max Drawdown (10Y) Largest decline over 10 years	-42.90%	-42.47%	-0.43%
Current Drawdown Current decline from peak	-1.73%	-0.26%	-1.47%
Average Drawdown Average peak-to-trough decline	-21.95%	-17.22%	-4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.88%	-0.29%

Volatility

FMCKX vs. SEMNX - Volatility Comparison

The current volatility for Fidelity Advisor Focused Emerging Markets Fund Class C (FMCKX) is 10.68%, while Hartford Schroders Emerging Markets Equity Fund Class I (SEMNX) has a volatility of 12.40%. This indicates that FMCKX experiences smaller price fluctuations and is considered to be less risky than SEMNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMCKX	SEMNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	12.40%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	17.92%	20.44%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	20.06%	22.82%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.34%	18.83%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	18.95%	+0.07%

FMCKX vs. SEMNX - Expense Ratio Comparison

FMCKX has a 2.11% expense ratio, which is higher than SEMNX's 1.23% expense ratio.

Dividends

FMCKX vs. SEMNX - Dividend Comparison

FMCKX's dividend yield for the trailing twelve months is around 0.53%, less than SEMNX's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMCKX Fidelity Advisor Focused Emerging Markets Fund Class C	0.53%	0.70%	0.11%	0.53%	0.00%	4.23%	1.27%	11.09%	0.00%	0.00%	0.00%	0.00%
SEMNX Hartford Schroders Emerging Markets Equity Fund Class I	1.16%	1.58%	1.16%	1.33%	1.86%	1.21%	0.77%	2.17%	1.22%	0.82%	0.94%	0.94%

Frequently Asked Questions

Can I hold both FMCKX and SEMNX in my portfolio?

With a correlation of 0.94, FMCKX and SEMNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FMCKX or SEMNX?

SEMNX has higher volatility (12.40%) compared to FMCKX (10.68%). In terms of maximum drawdown, FMCKX dropped -70.33% vs SEMNX's -65.10%.

Which has better risk-adjusted returns?

SEMNX currently has the higher Sharpe Ratio (3.15 vs 3.08), 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.