FSEAX vs. FIQPX

Last updated Aug 1, 2026

FSEAX (Fidelity Emerging Asia Fund) and FIQPX (Fidelity Advisor Emerging Asia Fund Class Z) are both Asia Pacific Equities funds from Fidelity. Over the past 5 years, FSEAX returned 7.64%/yr vs 8.00%/yr for FIQPX. Their 1.00 correlation means they have historically moved very closely together. FSEAX charges 1.03%/yr vs 0.81%/yr for FIQPX.

Performance

FSEAX vs. FIQPX - 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 Z (FIQPX). 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 23.64% return and FIQPX slightly higher at 23.76%.

FSEAX

• 1D: 3.37%
• 1M: -6.52%
• 6M: 13.54%
• YTD: 23.64%
• 1Y: 42.33%
• 3Y*: 27.40%
• 5Y*: 7.64%
• 10Y*: 13.85%
• ALL TIME*: 8.83%

FIQPX

• 1D: 3.44%
• 1M: -6.67%
• 6M: 13.44%
• YTD: 23.76%
• 1Y: 42.90%
• 3Y*: 27.50%
• 5Y*: 8.00%
• 10Y*: —
• ALL TIME*: 16.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIQPX Fidelity Advisor Emerging Asia Fund Class Z	$0.00	$0.00	$0.00
FSEAX Fidelity Emerging Asia Fund	$0.00	$0.00	$0.00

FSEAX vs. FIQPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSEAX Fidelity Emerging Asia Fund	23.64%	36.43%	21.80%	13.58%	-31.26%	-14.91%	73.43%	30.97%	-0.03%
FIQPX Fidelity Advisor Emerging Asia Fund Class Z	23.76%	37.22%	21.13%	13.98%	-30.50%	-14.73%	73.23%	31.17%	0.71%

Correlation

The correlation between FSEAX and FIQPX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	1.00

The correlation between FSEAX and FIQPX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FSEAX vs. FIQPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSEAX

FSEAX Risk / Return Rank: 69
FSEAX Sharpe Ratio Rank: 69
FSEAX Sortino Ratio Rank: 59
FSEAX Omega Ratio Rank: 69
FSEAX Calmar Ratio Rank: 80
FSEAX Martin Ratio Rank: 70

FIQPX

FIQPX Risk / Return Rank: 65
FIQPX Sharpe Ratio Rank: 65
FIQPX Sortino Ratio Rank: 54
FIQPX Omega Ratio Rank: 64
FIQPX Calmar Ratio Rank: 77
FIQPX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSEAX vs. FIQPX - 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 Z (FIQPX). 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.

	FSEAX	FIQPX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.58	0.00
Sortino ratio: Return per unit of downside risk	2.05	2.05	0.00
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	2.57	2.57	0.00
Martin ratio: Return relative to average drawdown	8.36	8.37	0.00

FSEAX vs. FIQPX - Sharpe Ratio Comparison

The current FSEAX Sharpe Ratio is 1.57, which is comparable to the FIQPX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of FSEAX and FIQPX, 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

FSEAX vs. FIQPX - Drawdown Comparison

The maximum FSEAX drawdown since its inception was -65.59%, which is greater than FIQPX's maximum drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for FSEAX and FIQPX.

Drawdown Indicators

	FSEAX	FIQPX	Difference
Max Drawdown Largest peak-to-trough decline	-65.59%	-57.62%	-7.97%
Max Drawdown (1Y) Largest decline over 1 year	-15.33%	-15.56%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-17.18%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-50.98%	-50.50%	-0.48%
Max Drawdown (10Y) Largest decline over 10 years	-58.07%	—	—
Current Drawdown Current decline from peak	-12.47%	-12.65%	+0.18%
Average Drawdown Average peak-to-trough decline	-24.59%	-21.76%	-2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	4.77%	-0.06%

Volatility

FSEAX vs. FIQPX - Volatility Comparison

Fidelity Emerging Asia Fund (FSEAX) and Fidelity Advisor Emerging Asia Fund Class Z (FIQPX) have volatilities of 9.87% and 9.95%, 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	FIQPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.87%	9.95%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	23.06%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	25.08%	25.40%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.69%	23.77%	-0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	23.49%	-1.96%

FSEAX vs. FIQPX - Expense Ratio Comparison

FSEAX has a 1.03% expense ratio, which is higher than FIQPX's 0.81% expense ratio.

Dividends

FSEAX vs. FIQPX - Dividend Comparison

FSEAX's dividend yield for the trailing twelve months is around 0.17%, while FIQPX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQPX Fidelity Advisor Emerging Asia Fund Class Z	0.00%	0.00%	0.00%	0.00%	0.01%	12.82%	6.63%	5.47%	6.97%	0.00%	0.00%	0.00%
FSEAX Fidelity Emerging Asia Fund	0.17%	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 FIQPX in my portfolio?

With a correlation of 1.00, FSEAX and FIQPX 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 FIQPX?

FIQPX has higher volatility (9.95%) compared to FSEAX (9.87%). In terms of maximum drawdown, FSEAX dropped -65.59% vs FIQPX's -57.62%.

Which has better risk-adjusted returns?

FIQPX currently has the higher Sharpe Ratio (1.58 vs 1.57), 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.