FSAMX vs. FGOMX

Last updated Jul 14, 2026

FSAMX (Strategic Advisers Emerging Markets Fund) and FGOMX (Strategic Advisers Fidelity Emerging Markets Fund) are both Emerging Markets Diversified funds from Fidelity. Over the past 5 years, FSAMX returned 8.20%/yr vs 7.55%/yr for FGOMX. With a 0.97 correlation, they move nearly in lockstep. FSAMX charges 0.33%/yr vs 0.25%/yr for FGOMX.

Performance

FSAMX vs. FGOMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategic Advisers Emerging Markets Fund (FSAMX) and Strategic Advisers Fidelity Emerging Markets Fund (FGOMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSAMX achieves a 25.69% return, which is significantly higher than FGOMX's 20.41% return.

FSAMX

• 1D: 0.40%
• 1M: -1.35%
• 6M: 19.01%
• YTD: 25.69%
• 1Y: 46.00%
• 3Y*: 23.67%
• 5Y*: 8.20%
• 10Y*: 10.16%

FGOMX

• 1D: -4.15%
• 1M: -5.75%
• 6M: 13.90%
• YTD: 20.41%
• 1Y: 39.50%
• 3Y*: 21.99%
• 5Y*: 7.55%
• 10Y*: —

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

FSAMX vs. FGOMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSAMX Strategic Advisers Emerging Markets Fund	25.69%	34.09%	8.34%	11.94%	-22.32%	-2.15%	20.39%	21.87%	-2.80%
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	20.41%	34.20%	7.88%	12.23%	-22.45%	-0.19%	22.10%	22.25%	-4.83%

Correlation

The correlation between FSAMX and FGOMX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.97

The correlation between FSAMX and FGOMX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

FSAMX vs. FGOMX — Risk / Return Rank

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

FSAMX

FSAMX Risk / Return Rank: 89
FSAMX Sharpe Ratio Rank: 91
FSAMX Sortino Ratio Rank: 82
FSAMX Omega Ratio Rank: 85
FSAMX Calmar Ratio Rank: 94
FSAMX Martin Ratio Rank: 92

FGOMX

FGOMX Risk / Return Rank: 81
FGOMX Sharpe Ratio Rank: 80
FGOMX Sortino Ratio Rank: 69
FGOMX Omega Ratio Rank: 77
FGOMX Calmar Ratio Rank: 90
FGOMX Martin Ratio Rank: 87

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.

FSAMX vs. FGOMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Emerging Markets Fund (FSAMX) and Strategic Advisers Fidelity Emerging Markets Fund (FGOMX). 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.

	FSAMX	FGOMX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.07	+0.40
Sortino ratio: Return per unit of downside risk	3.06	2.63	+0.44
Omega ratio: Gain probability vs. loss probability	1.45	1.38	+0.07
Calmar ratio: Return relative to maximum drawdown	4.26	3.72	+0.54
Martin ratio: Return relative to average drawdown	14.76	12.64	+2.11

FSAMX vs. FGOMX - Sharpe Ratio Comparison

The current FSAMX Sharpe Ratio is 2.47, which is comparable to the FGOMX Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of FSAMX and FGOMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSAMX vs. FGOMX - Drawdown Comparison

The maximum FSAMX drawdown since its inception was -40.87%, roughly equal to the maximum FGOMX drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for FSAMX and FGOMX.

Drawdown Indicators

	FSAMX	FGOMX	Difference
Max Drawdown Largest peak-to-trough decline	-40.87%	-40.14%	-0.73%
Max Drawdown (1Y) Largest decline over 1 year	-13.04%	-12.77%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-16.71%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-37.02%	-36.35%	-0.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.87%	—	—
Current Drawdown Current decline from peak	-5.75%	-9.96%	+4.21%
Average Drawdown Average peak-to-trough decline	-13.86%	-13.23%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	3.49%	0.00%

Volatility

FSAMX vs. FGOMX - Volatility Comparison

The current volatility for Strategic Advisers Emerging Markets Fund (FSAMX) is 10.32%, while Strategic Advisers Fidelity Emerging Markets Fund (FGOMX) has a volatility of 11.14%. This indicates that FSAMX experiences smaller price fluctuations and is considered to be less risky than FGOMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSAMX	FGOMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.32%	11.14%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	19.77%	20.18%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	22.50%	22.93%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.34%	18.73%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.24%	19.75%	-1.51%

FSAMX vs. FGOMX - Expense Ratio Comparison

FSAMX has a 0.33% expense ratio, which is higher than FGOMX's 0.25% expense ratio.

Dividends

FSAMX vs. FGOMX - Dividend Comparison

FSAMX's dividend yield for the trailing twelve months is around 4.92%, more than FGOMX's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	1.80%	2.17%	2.40%	2.83%	2.42%	4.63%	0.73%	2.13%	0.00%	0.00%	0.00%	0.00%
FSAMX Strategic Advisers Emerging Markets Fund	4.92%	2.38%	2.53%	2.57%	2.64%	3.04%	0.99%	2.09%	1.67%	1.30%	1.22%	1.35%

Frequently Asked Questions

Can I hold both FSAMX and FGOMX in my portfolio?

With a correlation of 0.99, FSAMX and FGOMX 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, FSAMX or FGOMX?

FGOMX has higher volatility (11.14%) compared to FSAMX (10.32%). In terms of maximum drawdown, FSAMX dropped -40.87% vs FGOMX's -40.14%.

Which has better risk-adjusted returns?

FSAMX currently has the higher Sharpe Ratio (2.47 vs 2.07), 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.