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FMIYX vs. FAOIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FMIYX vs. FAOIX

Last updated Jun 26, 2026

FMIYX (FMI International Fund Class I) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 5 years, FMIYX returned 6.41%/yr vs 3.32%/yr for FAOIX. A 0.77 correlation means they provide meaningful diversification when combined. FMIYX charges 0.80%/yr vs 1.12%/yr for FAOIX.

Performance

FMIYX vs. FAOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMI International Fund Class I (FMIYX) and Fidelity Advisor Overseas Fund Class I (FAOIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

FMIYX

1D
1.86%
1M
3.58%
YTD
4.91%
6M
4.34%
1Y
11.02%
3Y*
9.23%
5Y*
6.41%
10Y*
—

FAOIX

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
-1.61%
3Y*
9.16%
5Y*
3.32%
10Y*
8.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FMIYX vs. FAOIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FMIYX
FMI International Fund Class I		4.91%8.73%7.17%21.96%-9.78%13.95%0.19%17.27%-9.40%15.59%
FAOIX
Fidelity Advisor Overseas Fund Class I		0.00%15.25%4.92%20.35%-24.38%19.23%15.08%27.82%-14.85%30.05%

Correlation

The correlation between FMIYX and FAOIX 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 (All Time)
Calculated using the full available price history since Nov 3, 2016

0.77

Over the past year, the correlation between FMIYX and FAOIX has dropped to 0.43 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

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FMI International Fund Class I

Fidelity Advisor Overseas Fund Class I

Often compared with FMIYX:
FMIYX vs. APHIXFMIYX vs. FMIHXFMIYX vs. TIVFXFMIYX vs. FMIMXFMIYX vs. FMIJXFMIYX vs. GSINXFMIYX vs. KGIIX
Often compared with FAOIX:
FAOIX vs. FAOSXFAOIX vs. FAOAXFAOIX vs. FAERXFAOIX vs. RPICXFAOIX vs. BIGFXFAOIX vs. SWISXFAOIX vs. GSIMX

Return for Risk

FMIYX vs. FAOIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FMIYX
FMIYX Risk / Return Rank: 1212
Overall Rank
FMIYX Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
FMIYX Sortino Ratio Rank: 1313
Sortino Ratio Rank
FMIYX Omega Ratio Rank: 1212
Omega Ratio Rank
FMIYX Calmar Ratio Rank: 1111
Calmar Ratio Rank
FMIYX Martin Ratio Rank: 1212
Martin Ratio Rank
FAOIX
FAOIX Risk / Return Rank: 22
Overall Rank
FAOIX Sharpe Ratio Rank: 22
Sharpe Ratio Rank
FAOIX Sortino Ratio Rank: 22
Sortino Ratio Rank
FAOIX Omega Ratio Rank: 22
Omega Ratio Rank
FAOIX Calmar Ratio Rank: 22
Calmar Ratio Rank
FAOIX Martin Ratio Rank: 22
Martin Ratio Rank
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.

FMIYX vs. FAOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMI International Fund Class I (FMIYX) and Fidelity Advisor Overseas Fund Class I (FAOIX). 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.

FMIYXFAOIXDifference
Sharpe ratioReturn per unit of total volatility
0.72
-0.26

+0.98

Sortino ratioReturn per unit of downside risk
1.17
-0.30

+1.47

Omega ratioGain probability vs. loss probability

1.13

0.95

+0.18

Calmar ratioReturn relative to maximum drawdown

0.78

-0.30

+1.08

Martin ratioReturn relative to average drawdown

2.53

-0.50

+3.03

FMIYX vs. FAOIX - Sharpe Ratio Comparison

The current FMIYX Sharpe Ratio is 0.72, which is higher than the FAOIX Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of FMIYX and FAOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FMIYX vs. FAOIX - Drawdown Comparison

The maximum FMIYX drawdown since its inception was -37.43%, smaller than the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for FMIYX and FAOIX.

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Drawdown Indicators

FMIYXFAOIXDifference

Max Drawdown

Largest peak-to-trough decline

-37.43%

-59.86%

+22.43%

Max Drawdown (1Y)

Largest decline over 1 year

-13.48%

-7.28%

-6.20%

Max Drawdown (3Y)

Largest decline over 3 years

-15.87%

-13.98%

-1.89%

Max Drawdown (5Y)

Largest decline over 5 years

-21.69%

-36.33%

+14.64%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.33%

—

Current Drawdown

Current decline from peak

-1.63%

-5.85%

+4.22%

Average Drawdown

Average peak-to-trough decline

-4.73%

-14.19%

+9.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.13%

4.16%

-0.03%

Volatility

FMIYX vs. FAOIX - Volatility Comparison

FMI International Fund Class I (FMIYX) has a higher volatility of 4.68% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that FMIYX's price experiences larger fluctuations and is considered to be riskier than FAOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FMIYXFAOIXDifference

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%

8.72%

+5.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.74%

16.72%

-2.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.97%

16.38%

-1.41%

FMIYX vs. FAOIX - Expense Ratio Comparison

FMIYX has a 0.80% expense ratio, which is lower than FAOIX's 1.12% expense ratio.

Dividends

FMIYX vs. FAOIX - Dividend Comparison

FMIYX's dividend yield for the trailing twelve months is around 12.57%, more than FAOIX's 8.49% yield.

PositionTTM20252024202320222021202020192018201720162015
FAOIX
Fidelity Advisor Overseas Fund Class I		8.49%8.49%1.66%0.96%0.63%2.06%0.00%1.35%5.09%3.79%1.49%0.63%
FMIYX
FMI International Fund Class I		12.57%13.19%0.00%0.00%15.31%3.57%0.00%3.66%7.65%1.65%3.78%0.00%

Frequently Asked Questions

FMIYX and FAOIX 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.

FMIYX has higher volatility (4.68%) compared to FAOIX (0.00%). In terms of maximum drawdown, FMIYX dropped -37.43% vs FAOIX's -59.86%.

FMIYX currently has the higher Sharpe Ratio (0.72 vs -0.26), 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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