FSEAX vs. FERIX

Last updated Jun 4, 2026

FSEAX (Fidelity Emerging Asia Fund) and FERIX (Fidelity Advisor Emerging Asia Fund Class I) are both Asia Pacific Equities funds from Fidelity. Over the past 10 years, FSEAX returned 16.15%/yr vs 16.39%/yr for FERIX. Their correlation of 0.89 suggests significant overlap in exposure. FSEAX charges 1.02%/yr vs 0.94%/yr for FERIX.

Performance

FSEAX vs. FERIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Emerging Asia Fund (FSEAX) and Fidelity Advisor Emerging Asia Fund Class I (FERIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FSEAX having a 39.57% return and FERIX slightly higher at 40.20%. Both investments have delivered pretty close results over the past 10 years, with FSEAX having a 16.15% annualized return and FERIX not far ahead at 16.39%.

FSEAX

• 1D: 1.71%
• 1M: 12.18%
• YTD: 39.57%
• 6M: 44.64%
• 1Y: 74.85%
• 3Y*: 35.25%
• 5Y*: 8.65%
• 10Y*: 16.15%

FERIX

• 1D: 1.89%
• 1M: 12.53%
• YTD: 40.20%
• 6M: 45.51%
• 1Y: 76.07%
• 3Y*: 35.34%
• 5Y*: 8.92%
• 10Y*: 16.39%

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

FSEAX vs. FERIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSEAX Fidelity Emerging Asia Fund	39.57%	36.43%	21.80%	13.58%	-31.26%	-14.91%	73.43%	30.97%	-15.08%	45.13%
FERIX Fidelity Advisor Emerging Asia Fund Class I	40.20%	37.04%	20.95%	13.84%	-30.60%	-14.83%	72.97%	31.02%	-14.87%	45.94%

Correlation

The correlation between FSEAX and FERIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Apr 4, 1994	0.89

The correlation between FSEAX and FERIX shifts across timeframes, from 0.89 (all time) to 1.00 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FSEAX vs. FERIX — Risk / Return Rank

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

FSEAX

FSEAX Risk / Return Rank: 94
FSEAX Sharpe Ratio Rank: 98
FSEAX Sortino Ratio Rank: 92
FSEAX Omega Ratio Rank: 92
FSEAX Calmar Ratio Rank: 95
FSEAX Martin Ratio Rank: 94

FERIX

FERIX Risk / Return Rank: 94
FERIX Sharpe Ratio Rank: 98
FERIX Sortino Ratio Rank: 92
FERIX Omega Ratio Rank: 92
FERIX Calmar Ratio Rank: 95
FERIX Martin Ratio Rank: 93

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.

FSEAX vs. FERIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Asia Fund (FSEAX) and Fidelity Advisor Emerging Asia Fund Class I (FERIX). 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.

	FSEAX	FERIX	Difference
Sharpe ratio: Return per unit of total volatility	3.87	3.89	-0.01
Sortino ratio: Return per unit of downside risk	4.61	4.60	+0.01
Omega ratio: Gain probability vs. loss probability	1.69	1.69	0.00
Calmar ratio: Return relative to maximum drawdown	5.65	5.69	-0.04
Martin ratio: Return relative to average drawdown	20.59	20.65	-0.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSEAX vs. FERIX - Sharpe Ratio Comparison

The current FSEAX Sharpe Ratio is 3.87, which is comparable to the FERIX Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of FSEAX and FERIX, 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

	FSEAX	FERIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.87	3.89	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.39	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.78	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.40	+0.04

Drawdowns

FSEAX vs. FERIX - Drawdown Comparison

The maximum FSEAX drawdown since its inception was -65.59%, which is greater than FERIX's maximum drawdown of -60.82%. Use the drawdown chart below to compare losses from any high point for FSEAX and FERIX.

Drawdown Indicators

	FSEAX	FERIX	Difference
Max Drawdown Largest peak-to-trough decline	-65.59%	-60.82%	-4.77%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	-13.53%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-17.21%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-53.64%	-53.29%	-0.35%
Max Drawdown (10Y) Largest decline over 10 years	-58.07%	-57.71%	-0.36%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-24.68%	-18.13%	-6.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.67%	3.72%	-0.05%

Volatility

FSEAX vs. FERIX - Volatility Comparison

Fidelity Emerging Asia Fund (FSEAX) and Fidelity Advisor Emerging Asia Fund Class I (FERIX) have volatilities of 8.45% and 8.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSEAX	FERIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.45%	8.58%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	16.42%	16.67%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	19.59%	19.82%	-0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.86%	22.91%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	20.97%	+0.05%

FSEAX vs. FERIX - Expense Ratio Comparison

FSEAX has a 1.02% expense ratio, which is higher than FERIX's 0.94% expense ratio.

Dividends

FSEAX vs. FERIX - Dividend Comparison

FSEAX's dividend yield for the trailing twelve months is around 0.15%, while FERIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FERIX Fidelity Advisor Emerging Asia Fund Class I	0.00%	0.00%	0.00%	0.00%	0.01%	12.49%	6.58%	5.30%	6.70%	0.03%	1.29%	0.82%
FSEAX Fidelity Emerging Asia Fund	0.15%	0.22%	0.00%	0.08%	0.00%	14.14%	14.10%	6.15%	3.44%	0.05%	1.26%	0.44%

Frequently Asked Questions

Can I hold both FSEAX and FERIX in my portfolio?

With a correlation of 1.00, FSEAX and FERIX 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, FSEAX or FERIX?

FERIX has higher volatility (8.58%) compared to FSEAX (8.45%). In terms of maximum drawdown, FSEAX dropped -65.59% vs FERIX's -60.82%.

Which has better risk-adjusted returns?

FERIX currently has the higher Sharpe Ratio (3.89 vs 3.87), 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.