FOPIX vs. MWNIX
FOPIX (Fidelity Advisor International Small Cap Opportunities Fund Class I) and MWNIX (MFS International New Discovery Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, FOPIX returned 8.90%/yr vs 6.30%/yr for MWNIX. Their correlation of 0.92 means they have usually moved in the same direction. FOPIX charges 1.24%/yr vs 1.03%/yr for MWNIX.
Performance
FOPIX vs. MWNIX - 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 MWNIX's 7.72% return. Over the past 10 years, FOPIX has outperformed MWNIX with an annualized return of 8.90%, while MWNIX has yielded a comparatively lower 6.30% 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%
MWNIX
- 1D
- -0.90%
- 1M
- 0.64%
- 6M
- 4.16%
- YTD
- 7.72%
- 1Y
- 10.49%
- 3Y*
- 9.50%
- 5Y*
- 2.94%
- 10Y*
- 6.30%
- ALL TIME*
- 9.49%
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. MWNIX - 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% |
MWNIX MFS International New Discovery Fund | 7.72% | 16.88% | 0.90% | 13.03% | -18.63% | 5.06% | 9.98% | 22.85% | -10.41% | 30.67% |
Correlation
The correlation between FOPIX and MWNIX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2005 | 0.92 |
The correlation between FOPIX and MWNIX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
FOPIX vs. MWNIX — Risk / Return Rank
FOPIX
MWNIX
FOPIX vs. MWNIX - 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 MFS International New Discovery Fund (MWNIX). 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 | MWNIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.17 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 0.93 | +0.10 |
| Martin ratioReturn relative to average drawdown | 3.27 | 3.09 | +0.18 |
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Drawdowns
FOPIX vs. MWNIX - Drawdown Comparison
The maximum FOPIX drawdown since its inception was -72.69%, which is greater than MWNIX's maximum drawdown of -58.38%. Use the drawdown chart below to compare losses from any high point for FOPIX and MWNIX.
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Drawdown Indicators
| FOPIX | MWNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.69% | -58.38% | -14.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -11.78% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.40% | -15.12% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -40.75% | -33.67% | -7.08% |
Max Drawdown (10Y)Largest decline over 10 years | -40.75% | -34.72% | -6.03% |
Current DrawdownCurrent decline from peak | -2.99% | -0.96% | -2.03% |
Average DrawdownAverage peak-to-trough decline | -18.35% | -9.53% | -8.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 3.54% | -0.06% |
Volatility
FOPIX vs. MWNIX - Volatility Comparison
Fidelity Advisor International Small Cap Opportunities Fund Class I (FOPIX) has a higher volatility of 4.31% compared to MFS International New Discovery Fund (MWNIX) at 3.95%. This indicates that FOPIX's price experiences larger fluctuations and is considered to be riskier than MWNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOPIX | MWNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 3.95% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 10.89% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.33% | 12.50% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 13.34% | +3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 13.74% | +2.16% |
FOPIX vs. MWNIX - Expense Ratio Comparison
FOPIX has a 1.24% expense ratio, which is higher than MWNIX's 1.03% expense ratio.
Dividends
FOPIX vs. MWNIX - Dividend Comparison
FOPIX's dividend yield for the trailing twelve months is around 11.02%, more than MWNIX's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MWNIX MFS International New Discovery Fund | 3.01% | 3.24% | 7.61% | 4.05% | 5.68% | 5.06% | 3.90% | 2.67% | 6.68% | 1.63% | 1.09% | 1.12% |
Frequently Asked Questions
With a correlation of 0.91, FOPIX and MWNIX 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.
FOPIX has higher volatility (4.31%) compared to MWNIX (3.95%). In terms of maximum drawdown, FOPIX dropped -72.69% vs MWNIX's -58.38%.
MWNIX currently has the higher Sharpe Ratio (0.88 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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