FOSFX vs. AVNM

Last updated Jun 4, 2026

FOSFX (Fidelity Overseas Fund) and AVNM (Avantis All International Markets Equity ETF) are both Foreign Large Cap Equities funds. Over the past year, FOSFX returned 8.50% vs 35.92% for AVNM. Their correlation of 0.87 suggests significant overlap in exposure. FOSFX charges 0.99%/yr vs 0.31%/yr for AVNM.

Performance

FOSFX vs. AVNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Overseas Fund (FOSFX) and Avantis All International Markets Equity ETF (AVNM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOSFX achieves a 5.41% return, which is significantly lower than AVNM's 14.81% return.

FOSFX

• 1D: 0.97%
• 1M: 3.81%
• YTD: 5.41%
• 6M: 7.39%
• 1Y: 8.50%
• 3Y*: 12.53%
• 5Y*: 5.77%
• 10Y*: 8.66%

AVNM

• 1D: -1.14%
• 1M: 4.33%
• YTD: 14.81%
• 6M: 17.96%
• 1Y: 35.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FOSFX vs. AVNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FOSFX Fidelity Overseas Fund	5.41%	20.81%	5.20%	6.54%
AVNM Avantis All International Markets Equity ETF	14.81%	38.30%	5.52%	8.60%

Correlation

The correlation between FOSFX and AVNM is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.87

The correlation between FOSFX and AVNM has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

FOSFX vs. AVNM — Risk / Return Rank

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

FOSFX

FOSFX Risk / Return Rank: 6
FOSFX Sharpe Ratio Rank: 6
FOSFX Sortino Ratio Rank: 6
FOSFX Omega Ratio Rank: 6
FOSFX Calmar Ratio Rank: 6
FOSFX Martin Ratio Rank: 8

AVNM

AVNM Risk / Return Rank: 69
AVNM Sharpe Ratio Rank: 73
AVNM Sortino Ratio Rank: 70
AVNM Omega Ratio Rank: 73
AVNM Calmar Ratio Rank: 62
AVNM Martin Ratio Rank: 65

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.

FOSFX vs. AVNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Overseas Fund (FOSFX) and Avantis All International Markets Equity ETF (AVNM). 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.

	FOSFX	AVNM	Difference
Sharpe ratio: Return per unit of total volatility	0.47	2.44	-1.96
Sortino ratio: Return per unit of downside risk	0.79	3.26	-2.46
Omega ratio: Gain probability vs. loss probability	1.10	1.44	-0.35
Calmar ratio: Return relative to maximum drawdown	0.64	3.11	-2.47
Martin ratio: Return relative to average drawdown	2.28	12.16	-9.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOSFX vs. AVNM - Sharpe Ratio Comparison

The current FOSFX Sharpe Ratio is 0.47, which is lower than the AVNM Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FOSFX and AVNM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FOSFX	AVNM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	2.44	-1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.54	-1.07

Drawdowns

FOSFX vs. AVNM - Drawdown Comparison

The maximum FOSFX drawdown since its inception was -63.51%, which is greater than AVNM's maximum drawdown of -14.03%. Use the drawdown chart below to compare losses from any high point for FOSFX and AVNM.

Drawdown Indicators

	FOSFX	AVNM	Difference
Max Drawdown Largest peak-to-trough decline	-63.51%	-14.03%	-49.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.36%	-11.59%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-13.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.51%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.51%	—	—
Current Drawdown Current decline from peak	-1.35%	-1.14%	-0.21%
Average Drawdown Average peak-to-trough decline	-16.96%	-2.55%	-14.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	2.96%	+0.51%

Volatility

FOSFX vs. AVNM - Volatility Comparison

Fidelity Overseas Fund (FOSFX) has a higher volatility of 6.11% compared to Avantis All International Markets Equity ETF (AVNM) at 5.19%. This indicates that FOSFX's price experiences larger fluctuations and is considered to be riskier than AVNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOSFX	AVNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.11%	5.19%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	12.59%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	14.82%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	14.86%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.23%	14.86%	+2.37%

FOSFX vs. AVNM - Expense Ratio Comparison

FOSFX has a 0.99% expense ratio, which is higher than AVNM's 0.31% expense ratio.

Dividends

FOSFX vs. AVNM - Dividend Comparison

FOSFX's dividend yield for the trailing twelve months is around 4.62%, more than AVNM's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVNM Avantis All International Markets Equity ETF	2.51%	2.76%	3.51%	1.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FOSFX Fidelity Overseas Fund	4.62%	4.87%	1.38%	1.02%	0.77%	4.54%	0.53%	1.35%	5.92%	0.06%	1.96%	1.06%

Frequently Asked Questions

Can I hold both FOSFX and AVNM in my portfolio?

With a correlation of 0.91, FOSFX and AVNM 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, FOSFX or AVNM?

FOSFX has higher volatility (6.11%) compared to AVNM (5.19%). In terms of maximum drawdown, FOSFX dropped -63.51% vs AVNM's -14.03%.

Which has better risk-adjusted returns?

AVNM currently has the higher Sharpe Ratio (2.44 vs 0.47), 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.