FSSGX vs. EMPTX

Last updated Aug 1, 2026

FSSGX (Fidelity SAI Sustainable Emerging Markets Equity Fund) and EMPTX (UBS Emerging Markets Equity Opportunity Fund) are both Emerging Markets Equities funds. Over the past 3 years, FSSGX returned 20.25%/yr vs 20.39%/yr for EMPTX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. FSSGX charges 0.95%/yr vs 0.19%/yr for EMPTX.

Performance

FSSGX vs. EMPTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FSSGX having a 19.20% return and EMPTX slightly lower at 19.01%.

FSSGX

• 1D: 3.86%
• 1M: -3.64%
• 6M: 8.76%
• YTD: 19.20%
• 1Y: 39.39%
• 3Y*: 20.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.20%

EMPTX

• 1D: 4.95%
• 1M: -3.02%
• 6M: 7.56%
• YTD: 19.01%
• 1Y: 42.03%
• 3Y*: 20.39%
• 5Y*: 6.51%
• 10Y*: —
• ALL TIME*: 7.94%

*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)
EMPTX UBS Emerging Markets Equity Opportunity Fund	$0.00	$0.00	$0.00
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	$0.00	$0.00	$0.00

FSSGX vs. EMPTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	19.20%	38.40%	7.34%	11.67%	-7.56%
EMPTX UBS Emerging Markets Equity Opportunity Fund	19.01%	43.82%	2.51%	8.92%	-8.61%

Correlation

The correlation between FSSGX and EMPTX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022	0.77

The correlation between FSSGX and EMPTX shifts across timeframes, from 0.65 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSSGX vs. EMPTX — Risk / Return Rank

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

FSSGX

FSSGX Risk / Return Rank: 67
FSSGX Sharpe Ratio Rank: 66
FSSGX Sortino Ratio Rank: 57
FSSGX Omega Ratio Rank: 67
FSSGX Calmar Ratio Rank: 79
FSSGX Martin Ratio Rank: 65

EMPTX

EMPTX Risk / Return Rank: 77
EMPTX Sharpe Ratio Rank: 78
EMPTX Sortino Ratio Rank: 69
EMPTX Omega Ratio Rank: 76
EMPTX Calmar Ratio Rank: 86
EMPTX Martin Ratio Rank: 79

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.

FSSGX vs. EMPTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and UBS Emerging Markets Equity Opportunity Fund (EMPTX). 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.

	FSSGX	EMPTX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.82	-0.28
Sortino ratio: Return per unit of downside risk	2.03	2.33	-0.30
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.57	2.98	-0.41
Martin ratio: Return relative to average drawdown	8.07	9.46	-1.40

FSSGX vs. EMPTX - Sharpe Ratio Comparison

The current FSSGX Sharpe Ratio is 1.54, which is comparable to the EMPTX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FSSGX and EMPTX, 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

FSSGX vs. EMPTX - Drawdown Comparison

The maximum FSSGX drawdown since its inception was -24.11%, smaller than the maximum EMPTX drawdown of -46.03%. Use the drawdown chart below to compare losses from any high point for FSSGX and EMPTX.

Drawdown Indicators

	FSSGX	EMPTX	Difference
Max Drawdown Largest peak-to-trough decline	-24.11%	-46.03%	+21.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.53%	-14.50%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-15.80%	-15.50%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.78%	—
Current Drawdown Current decline from peak	-11.23%	-9.54%	-1.69%
Average Drawdown Average peak-to-trough decline	-5.50%	-18.12%	+12.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	4.44%	+0.18%

Volatility

FSSGX vs. EMPTX - Volatility Comparison

The current volatility for Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) is 9.54%, while UBS Emerging Markets Equity Opportunity Fund (EMPTX) has a volatility of 10.24%. This indicates that FSSGX experiences smaller price fluctuations and is considered to be less risky than EMPTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSSGX	EMPTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.54%	10.24%	-0.70%
Volatility (6M) Calculated over the trailing 6-month period	21.96%	21.53%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	24.32%	23.77%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	20.22%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	19.88%	+0.33%

FSSGX vs. EMPTX - Expense Ratio Comparison

FSSGX has a 0.95% expense ratio, which is higher than EMPTX's 0.19% expense ratio.

Dividends

FSSGX vs. EMPTX - Dividend Comparison

FSSGX's dividend yield for the trailing twelve months is around 2.40%, more than EMPTX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMPTX UBS Emerging Markets Equity Opportunity Fund	1.61%	1.91%	3.40%	3.20%	3.84%	11.93%	1.50%	2.75%	0.54%
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	2.40%	2.87%	3.83%	1.01%	0.88%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSSGX and EMPTX in my portfolio?

FSSGX and EMPTX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSSGX or EMPTX?

EMPTX has higher volatility (10.24%) compared to FSSGX (9.54%). In terms of maximum drawdown, FSSGX dropped -24.11% vs EMPTX's -46.03%.

Which has better risk-adjusted returns?

EMPTX currently has the higher Sharpe Ratio (1.82 vs 1.54), 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.