FMIJX vs. FAOAX
FMIJX (FMI International Fund) and FAOAX (Fidelity Advisor Overseas Fund Class A) are both Foreign Large Cap Equities funds. Over the past 10 years, FMIJX returned 6.17%/yr vs 8.05%/yr for FAOAX. A 0.80 correlation means they provide meaningful diversification when combined. FMIJX charges 0.94%/yr vs 1.43%/yr for FAOAX.
Performance
FMIJX vs. FAOAX - Performance Comparison
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Returns By Period
Over the past 10 years, FMIJX has underperformed FAOAX with an annualized return of 6.17%, while FAOAX has yielded a comparatively higher 8.05% annualized return.
FMIJX
- 1D
- 1.87%
- 1M
- 3.57%
- YTD
- 4.85%
- 6M
- 4.25%
- 1Y
- 10.84%
- 3Y*
- 9.07%
- 5Y*
- 4.12%
- 10Y*
- 6.17%
FAOAX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -1.73%
- 3Y*
- 8.91%
- 5Y*
- 3.05%
- 10Y*
- 8.05%
FMIJX vs. FAOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMIJX FMI International Fund | 4.85% | 8.57% | 6.99% | 21.81% | -18.67% | 13.82% | 0.06% | 17.11% | -9.54% | 13.90% |
FAOAX Fidelity Advisor Overseas Fund Class A | 0.00% | 14.93% | 4.63% | 20.01% | -24.61% | 18.90% | 14.71% | 27.39% | -15.10% | 29.66% |
Correlation
The correlation between FMIJX and FAOAX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2010 | 0.80 |
Over the past year, the correlation between FMIJX and FAOAX has dropped to 0.43 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.
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Return for Risk
FMIJX vs. FAOAX — Risk / Return Rank
FMIJX
FAOAX
FMIJX vs. FAOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FMI International Fund (FMIJX) and Fidelity Advisor Overseas Fund Class A (FAOAX). 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.
| FMIJX | FAOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.95 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | -0.32 | +1.09 |
| Martin ratioReturn relative to average drawdown | 2.49 | -0.53 | +3.02 |
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Drawdowns
FMIJX vs. FAOAX - Drawdown Comparison
The maximum FMIJX drawdown since its inception was -37.45%, smaller than the maximum FAOAX drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for FMIJX and FAOAX.
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Drawdown Indicators
| FMIJX | FAOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.45% | -60.03% | +22.58% |
Max Drawdown (1Y)Largest decline over 1 year | -13.46% | -7.29% | -6.17% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -13.99% | -1.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.77% | -36.50% | +14.73% |
Max Drawdown (10Y)Largest decline over 10 years | -37.45% | -36.50% | -0.95% |
Current DrawdownCurrent decline from peak | -1.67% | -5.87% | +4.20% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -14.54% | +9.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.14% | 4.18% | -0.04% |
Volatility
FMIJX vs. FAOAX - Volatility Comparison
FMI International Fund (FMIJX) has a higher volatility of 4.68% compared to Fidelity Advisor Overseas Fund Class A (FAOAX) at 0.00%. This indicates that FMIJX's price experiences larger fluctuations and is considered to be riskier than FAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMIJX | FAOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 0.00% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 11.74% | 3.51% | +8.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.56% | 8.71% | +5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 16.70% | -2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.15% | 16.37% | -1.22% |
FMIJX vs. FAOAX - Expense Ratio Comparison
FMIJX has a 0.94% expense ratio, which is lower than FAOAX's 1.43% expense ratio.
Dividends
FMIJX vs. FAOAX - Dividend Comparison
FMIJX's dividend yield for the trailing twelve months is around 12.48%, more than FAOAX's 8.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAOAX Fidelity Advisor Overseas Fund Class A | 8.54% | 8.54% | 1.33% | 0.74% | 0.38% | 2.12% | 0.00% | 1.37% | 4.64% | 3.64% | 1.75% | 0.38% |
FMIJX FMI International Fund | 12.48% | 13.09% | 0.00% | 0.00% | 4.43% | 3.46% | 0.00% | 3.55% | 7.43% | 0.28% | 3.76% | 1.84% |
Frequently Asked Questions
FMIJX and FAOAX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMIJX has higher volatility (4.68%) compared to FAOAX (0.00%). In terms of maximum drawdown, FMIJX dropped -37.45% vs FAOAX's -60.03%.
FMIJX currently has the higher Sharpe Ratio (0.71 vs -0.27), 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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