FOPIX vs. BISMX
FOPIX (Fidelity Advisor International Small Cap Opportunities Fund Class I) and BISMX (Brandes International Small Cap Equity Fund Class I) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FOPIX returned 8.90%/yr vs 11.76%/yr for BISMX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. FOPIX charges 1.24%/yr vs 1.11%/yr for BISMX.
Performance
FOPIX vs. BISMX - Performance Comparison
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Returns By Period
In the year-to-date period, FOPIX achieves a 5.49% return, which is significantly lower than BISMX's 7.15% return. Over the past 10 years, FOPIX has underperformed BISMX with an annualized return of 8.90%, while BISMX has yielded a comparatively higher 11.76% annualized return.
FOPIX
- 1D
- -0.77%
- 1M
- -1.12%
- 6M
- 1.95%
- YTD
- 5.49%
- 1Y
- 10.49%
- 3Y*
- 13.55%
- 5Y*
- 3.64%
- 10Y*
- 8.90%
- ALL TIME*
- 7.11%
BISMX
- 1D
- -0.79%
- 1M
- 6.80%
- 6M
- 2.51%
- YTD
- 7.15%
- 1Y
- 13.41%
- 3Y*
- 28.17%
- 5Y*
- 19.10%
- 10Y*
- 11.76%
- ALL TIME*
- 11.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FOPIX vs. BISMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOPIX Fidelity Advisor International Small Cap Opportunities Fund Class I | 5.49% | 25.00% | 4.06% | 16.88% | -28.91% | 17.64% | 19.57% | 29.11% | -14.14% | 34.68% |
BISMX Brandes International Small Cap Equity Fund Class I | 7.15% | 45.81% | 23.44% | 39.27% | -8.48% | 18.58% | 4.85% | 7.16% | -20.04% | 11.79% |
Correlation
The correlation between FOPIX and BISMX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.78 |
The correlation between FOPIX and BISMX has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
FOPIX vs. BISMX — Risk / Return Rank
FOPIX
BISMX
FOPIX vs. BISMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Small Cap Opportunities Fund Class I (FOPIX) and Brandes International Small Cap Equity Fund Class I (BISMX). 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.
| FOPIX | BISMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.19 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.15 | -0.11 |
| Martin ratioReturn relative to average drawdown | 3.27 | 2.66 | +0.61 |
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Drawdowns
FOPIX vs. BISMX - Drawdown Comparison
The maximum FOPIX drawdown since its inception was -72.69%, which is greater than BISMX's maximum drawdown of -47.07%. Use the drawdown chart below to compare losses from any high point for FOPIX and BISMX.
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Drawdown Indicators
| FOPIX | BISMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.69% | -47.07% | -25.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -11.61% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -12.40% | -11.61% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -40.75% | -31.26% | -9.49% |
Max Drawdown (10Y)Largest decline over 10 years | -40.75% | -47.07% | +6.32% |
Current DrawdownCurrent decline from peak | -2.99% | -1.69% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -18.35% | -7.92% | -10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 5.00% | -1.52% |
Volatility
FOPIX vs. BISMX - Volatility Comparison
Fidelity Advisor International Small Cap Opportunities Fund Class I (FOPIX) has a higher volatility of 4.31% compared to Brandes International Small Cap Equity Fund Class I (BISMX) at 3.62%. This indicates that FOPIX's price experiences larger fluctuations and is considered to be riskier than BISMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOPIX | BISMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 3.62% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 10.78% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.33% | 12.88% | +1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 13.88% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 14.10% | +1.80% |
FOPIX vs. BISMX - Expense Ratio Comparison
FOPIX has a 1.24% expense ratio, which is higher than BISMX's 1.11% expense ratio.
Dividends
FOPIX vs. BISMX - Dividend Comparison
FOPIX's dividend yield for the trailing twelve months is around 11.02%, more than BISMX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BISMX Brandes International Small Cap Equity Fund Class I | 3.55% | 3.34% | 3.22% | 2.93% | 4.16% | 3.45% | 0.92% | 0.82% | 4.10% | 8.51% | 4.16% | 3.65% |
FOPIX Fidelity Advisor International Small Cap Opportunities Fund Class I | 11.02% | 11.62% | 6.34% | 3.73% | 6.43% | 8.85% | 0.00% | 1.04% | 2.95% | 1.31% | 1.49% | 0.47% |
Frequently Asked Questions
FOPIX and BISMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOPIX has higher volatility (4.31%) compared to BISMX (3.62%). In terms of maximum drawdown, FOPIX dropped -72.69% vs BISMX's -47.07%.
BISMX currently has the higher Sharpe Ratio (1.04 vs 0.80), 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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