FPADX vs. ^CASHX
FPADX (Fidelity Emerging Markets Index Fund) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while ^CASHX (US Money Market Index) is an index. Over the past 10 years, FPADX returned 10.05%/yr vs 2.32%/yr for ^CASHX. At a 0.01 correlation, their price movements are largely independent.
Performance
FPADX vs. ^CASHX - Performance Comparison
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Returns By Period
In the year-to-date period, FPADX achieves a 23.76% return, which is significantly higher than ^CASHX's 1.60% return. Over the past 10 years, FPADX has outperformed ^CASHX with an annualized return of 10.05%, while ^CASHX has yielded a comparatively lower 2.32% annualized return.
FPADX
- 1D
- 4.57%
- 1M
- 0.65%
- YTD
- 23.76%
- 6M
- 26.72%
- 1Y
- 45.42%
- 3Y*
- 22.14%
- 5Y*
- 6.92%
- 10Y*
- 10.05%
^CASHX
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.60%
- 6M
- 1.79%
- 1Y
- 3.89%
- 3Y*
- 4.63%
- 5Y*
- 3.53%
- 10Y*
- 2.32%
FPADX vs. ^CASHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPADX Fidelity Emerging Markets Index Fund | 23.76% | 33.90% | 6.80% | 9.51% | -20.06% | -3.07% | 17.84% | 18.28% | -14.65% | 35.16% |
^CASHX US Money Market Index | 1.60% | 4.21% | 5.16% | 5.03% | 1.68% | 0.08% | 0.37% | 2.16% | 1.83% | 1.00% |
Correlation
The correlation between FPADX and ^CASHX is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.01 |
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Return for Risk
FPADX vs. ^CASHX — Risk / Return Rank
FPADX
^CASHX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FPADX vs. ^CASHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Index Fund (FPADX) and US Money Market Index (^CASHX). 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.
| FPADX | ^CASHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -257.56 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.45 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | — | — |
| Martin ratioReturn relative to average drawdown | 12.95 | — | — |
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Drawdowns
FPADX vs. ^CASHX - Drawdown Comparison
The maximum FPADX drawdown since its inception was -39.16%, which is greater than ^CASHX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FPADX and ^CASHX.
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Drawdown Indicators
| FPADX | ^CASHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.16% | 0.00% | -39.16% |
Max Drawdown (1Y)Largest decline over 1 year | -13.28% | 0.00% | -13.28% |
Max Drawdown (3Y)Largest decline over 3 years | -16.09% | 0.00% | -16.09% |
Max Drawdown (5Y)Largest decline over 5 years | -36.86% | 0.00% | -36.86% |
Max Drawdown (10Y)Largest decline over 10 years | -39.16% | 0.00% | -39.16% |
Current DrawdownCurrent decline from peak | -4.83% | 0.00% | -4.83% |
Average DrawdownAverage peak-to-trough decline | -13.24% | 0.00% | -13.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 0.00% | +3.51% |
Volatility
FPADX vs. ^CASHX - Volatility Comparison
Fidelity Emerging Markets Index Fund (FPADX) has a higher volatility of 10.94% compared to US Money Market Index (^CASHX) at 0.00%. This indicates that FPADX's price experiences larger fluctuations and is considered to be riskier than ^CASHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPADX | ^CASHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.94% | 0.00% | +10.94% |
Volatility (6M)Calculated over the trailing 6-month period | 17.75% | 0.00% | +17.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.75% | 0.01% | +19.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 0.08% | +17.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.00% | 0.08% | +17.92% |
Frequently Asked Questions
FPADX and ^CASHX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPADX has higher volatility (10.94%) compared to ^CASHX (0.00%). In terms of maximum drawdown, FPADX dropped -39.16% vs ^CASHX's 0.00%.
^CASHX currently has the higher Sharpe Ratio (259.86 vs 2.30), 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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