FOSKX vs. VWO

Last updated Jun 3, 2026

FOSKX (Fidelity Overseas Fund Class K) and VWO (Vanguard FTSE Emerging Markets ETF) are both funds - FOSKX is a Foreign Large Cap Equities fund managed by Fidelity, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Over the past 10 years, FOSKX returned 8.65%/yr vs 9.01%/yr for VWO. A 0.75 correlation means they provide meaningful diversification when combined. FOSKX charges 0.89%/yr vs 0.08%/yr for VWO.

Performance

FOSKX vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Overseas Fund Class K (FOSKX) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOSKX achieves a 4.44% return, which is significantly lower than VWO's 13.82% return. Both investments have delivered pretty close results over the past 10 years, with FOSKX having a 8.65% annualized return and VWO not far ahead at 9.01%.

FOSKX

• 1D: -0.62%
• 1M: 1.36%
• YTD: 4.44%
• 6M: 6.91%
• 1Y: 6.93%
• 3Y*: 12.27%
• 5Y*: 5.55%
• 10Y*: 8.65%

VWO

• 1D: 1.27%
• 1M: 3.73%
• YTD: 13.82%
• 6M: 15.26%
• 1Y: 32.89%
• 3Y*: 18.58%
• 5Y*: 5.66%
• 10Y*: 9.01%

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

FOSKX vs. VWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOSKX Fidelity Overseas Fund Class K	4.44%	20.90%	5.28%	20.70%	-24.71%	19.43%	15.55%	28.58%	-14.64%	28.33%
VWO Vanguard FTSE Emerging Markets ETF	13.82%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-14.76%	31.49%

Correlation

The correlation between FOSKX and VWO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 12, 2008	0.75

The correlation between FOSKX and VWO has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

FOSKX vs. VWO — Risk / Return Rank

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

FOSKX

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

VWO

VWO Risk / Return Rank: 61
VWO Sharpe Ratio Rank: 62
VWO Sortino Ratio Rank: 61
VWO Omega Ratio Rank: 63
VWO Calmar Ratio Rank: 60
VWO Martin Ratio Rank: 61

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.

FOSKX vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Overseas Fund Class K (FOSKX) and Vanguard FTSE Emerging Markets ETF (VWO). 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.

	FOSKX	VWO	Difference
Sharpe ratio Return per unit of total volatility	0.47	2.09	-1.62
Sortino ratio Return per unit of downside risk	0.79	2.88	-2.09
Omega ratio Gain probability vs. loss probability	1.10	1.39	-0.29
Calmar ratio Return relative to maximum drawdown	0.66	3.03	-2.37
Martin ratio Return relative to average drawdown	2.34	10.94	-8.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOSKX vs. VWO - Sharpe Ratio Comparison

The current FOSKX Sharpe Ratio is 0.47, which is lower than the VWO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FOSKX and VWO, 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

	FOSKX	VWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.47	2.09	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.33	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.47	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.27	-0.03

Drawdowns

FOSKX vs. VWO - Drawdown Comparison

The maximum FOSKX drawdown since its inception was -59.28%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for FOSKX and VWO.

Drawdown Indicators

	FOSKX	VWO	Difference
Max Drawdown Largest peak-to-trough decline	-59.28%	-67.68%	+8.40%
Max Drawdown (1Y) Largest decline over 1 year	-12.35%	-11.17%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.91%	-17.37%	+3.46%
Max Drawdown (5Y) Largest decline over 5 years	-36.45%	-32.64%	-3.81%
Max Drawdown (10Y) Largest decline over 10 years	-36.45%	-36.39%	-0.06%
Current Drawdown Current decline from peak	-2.27%	0.00%	-2.27%
Average Drawdown Average peak-to-trough decline	-14.38%	-15.82%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	3.09%	+0.38%

Volatility

FOSKX vs. VWO - Volatility Comparison

Fidelity Overseas Fund Class K (FOSKX) has a higher volatility of 6.10% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.41%. This indicates that FOSKX's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOSKX	VWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	5.41%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	13.13%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	15.83%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	17.36%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	19.20%	-1.96%

FOSKX vs. VWO - Expense Ratio Comparison

FOSKX has a 0.89% expense ratio, which is higher than VWO's 0.08% expense ratio.

Dividends

FOSKX vs. VWO - Dividend Comparison

FOSKX's dividend yield for the trailing twelve months is around 4.75%, more than VWO's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOSKX Fidelity Overseas Fund Class K	4.75%	4.96%	1.84%	1.13%	0.88%	4.64%	0.62%	1.44%	6.08%	0.06%	2.09%	1.17%
VWO Vanguard FTSE Emerging Markets ETF	2.37%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%

Frequently Asked Questions

Can I hold both FOSKX and VWO in my portfolio?

FOSKX and VWO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOSKX or VWO?

FOSKX has higher volatility (6.10%) compared to VWO (5.41%). In terms of maximum drawdown, FOSKX dropped -59.28% vs VWO's -67.68%.

Which has better risk-adjusted returns?

VWO currently has the higher Sharpe Ratio (2.09 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.