FSOSX vs. GTMIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Series Overseas Fund (FSOSX) and GMO Tax-Managed International Equities Fund (GTMIX).

FSOSX is managed by Fidelity. It was launched on Jun 21, 2019. GTMIX is managed by GMO. It was launched on Jul 28, 1998.

Performance

FSOSX vs. GTMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Overseas Fund (FSOSX) and GMO Tax-Managed International Equities Fund (GTMIX). The values are adjusted to include any dividend payments, if applicable.

FSOSX vs. GTMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FSOSX Fidelity Series Overseas Fund	-5.69%	21.29%	5.87%	21.49%	-23.25%	19.59%	16.36%	7.78%
GTMIX GMO Tax-Managed International Equities Fund	5.80%	46.17%	1.54%	14.96%	-10.13%	10.71%	7.50%	9.13%

Returns By Period

In the year-to-date period, FSOSX achieves a -5.69% return, which is significantly lower than GTMIX's 5.80% return.

FSOSX

• 1D: 0.36%
• 1M: -11.39%
• YTD: -5.69%
• 6M: -5.28%
• 1Y: 7.28%
• 3Y*: 10.01%
• 5Y*: 5.83%
• 10Y*: —

GTMIX

• 1D: 0.35%
• 1M: -6.82%
• YTD: 5.80%
• 6M: 15.97%
• 1Y: 37.75%
• 3Y*: 19.28%
• 5Y*: 11.05%
• 10Y*: 9.60%

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

FSOSX vs. GTMIX - Expense Ratio Comparison

FSOSX has a 0.01% expense ratio, which is lower than GTMIX's 0.68% expense ratio.

GTMIX

GMO Tax-Managed International Equities Fund

FSOSX

Fidelity Series Overseas Fund

Return for Risk

FSOSX vs. GTMIX — Risk / Return Rank

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

FSOSX

FSOSX Risk / Return Rank: 14
FSOSX Sharpe Ratio Rank: 14
FSOSX Sortino Ratio Rank: 13
FSOSX Omega Ratio Rank: 13
FSOSX Calmar Ratio Rank: 15
FSOSX Martin Ratio Rank: 16

GTMIX

GTMIX Risk / Return Rank: 95
GTMIX Sharpe Ratio Rank: 96
GTMIX Sortino Ratio Rank: 94
GTMIX Omega Ratio Rank: 93
GTMIX Calmar Ratio Rank: 93
GTMIX Martin Ratio Rank: 96

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.

FSOSX vs. GTMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Overseas Fund (FSOSX) and GMO Tax-Managed International Equities Fund (GTMIX). 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.

	FSOSX	GTMIX	Difference
Sharpe ratio Return per unit of total volatility	0.34	2.38	-2.04
Sortino ratio Return per unit of downside risk	0.58	3.06	-2.47
Omega ratio Gain probability vs. loss probability	1.08	1.47	-0.39
Calmar ratio Return relative to maximum drawdown	0.40	2.92	-2.52
Martin ratio Return relative to average drawdown	1.51	14.29	-12.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSOSX vs. GTMIX - Sharpe Ratio Comparison

The current FSOSX Sharpe Ratio is 0.34, which is lower than the GTMIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of FSOSX and GTMIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSOSX	GTMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	2.38	-2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.75	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.39	+0.04

Correlation

The correlation between FSOSX and GTMIX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSOSX vs. GTMIX - Dividend Comparison

FSOSX's dividend yield for the trailing twelve months is around 9.70%, less than GTMIX's 21.21% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSOSX Fidelity Series Overseas Fund	9.70%	9.15%	2.25%	1.63%	1.80%	2.92%	1.12%	0.37%	0.00%	0.00%	0.00%	0.00%
GTMIX GMO Tax-Managed International Equities Fund	21.21%	22.43%	5.94%	0.36%	5.44%	16.55%	2.25%	4.13%	7.25%	2.96%	4.05%	3.26%

Drawdowns

FSOSX vs. GTMIX - Drawdown Comparison

The maximum FSOSX drawdown since its inception was -35.36%, smaller than the maximum GTMIX drawdown of -58.31%. Use the drawdown chart below to compare losses from any high point for FSOSX and GTMIX.

Drawdown Indicators

	FSOSX	GTMIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.36%	-58.31%	+22.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.39%	-11.24%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	-35.36%	-28.81%	-6.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	-11.89%	-6.82%	-5.07%
Average Drawdown Average peak-to-trough decline	-7.90%	-12.75%	+4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.46%	+0.85%

Volatility

FSOSX vs. GTMIX - Volatility Comparison

Fidelity Series Overseas Fund (FSOSX) has a higher volatility of 8.28% compared to GMO Tax-Managed International Equities Fund (GTMIX) at 5.33%. This indicates that FSOSX's price experiences larger fluctuations and is considered to be riskier than GTMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSOSX	GTMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.28%	5.33%	+2.95%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	9.28%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	15.41%	+2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	14.87%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.93%	16.05%	+2.88%