FSSGX vs. FELIX

Last updated Jul 14, 2026

FSSGX (Fidelity SAI Sustainable Emerging Markets Equity Fund) and FELIX (Fidelity Advisor Semiconductors Fund Class I) are both mutual funds - FSSGX is a Emerging Markets Diversified fund actively managed by Fidelity, while FELIX is a Technology Equities fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, FSSGX returned 24.35%/yr vs 56.10%/yr for FELIX. A 0.68 correlation means they provide meaningful diversification when combined. FSSGX charges 0.95%/yr vs 0.69%/yr for FELIX.

Performance

FSSGX vs. FELIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSSGX achieves a 26.18% return, which is significantly lower than FELIX's 69.76% return.

FSSGX

• 1D: 0.36%
• 1M: -1.69%
• 6M: 19.21%
• YTD: 26.18%
• 1Y: 48.05%
• 3Y*: 24.35%
• 5Y*: —
• 10Y*: —

FELIX

• 1D: 0.21%
• 1M: -3.04%
• 6M: 58.10%
• YTD: 69.76%
• 1Y: 115.00%
• 3Y*: 56.10%
• 5Y*: 39.71%
• 10Y*: 36.13%

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

FSSGX vs. FELIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	26.18%	38.40%	7.34%	11.67%	-7.56%
FELIX Fidelity Advisor Semiconductors Fund Class I	69.76%	45.25%	44.10%	75.49%	-11.35%

Correlation

The correlation between FSSGX and FELIX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022	0.68

The correlation between FSSGX and FELIX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

FSSGX vs. FELIX — Risk / Return Rank

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

FSSGX

FSSGX Risk / Return Rank: 80
FSSGX Sharpe Ratio Rank: 81
FSSGX Sortino Ratio Rank: 68
FSSGX Omega Ratio Rank: 78
FSSGX Calmar Ratio Rank: 89
FSSGX Martin Ratio Rank: 85

FELIX

FELIX Risk / Return Rank: 92
FELIX Sharpe Ratio Rank: 97
FELIX Sortino Ratio Rank: 84
FELIX Omega Ratio Rank: 84
FELIX Calmar Ratio Rank: 98
FELIX Martin Ratio Rank: 98

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.

FSSGX vs. FELIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and Fidelity Advisor Semiconductors Fund Class I (FELIX). 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	FELIX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	3.02	-0.93
Sortino ratio: Return per unit of downside risk	2.60	3.24	-0.64
Omega ratio: Gain probability vs. loss probability	1.39	1.44	-0.06
Calmar ratio: Return relative to maximum drawdown	3.56	7.51	-3.95
Martin ratio: Return relative to average drawdown	12.13	24.86	-12.73

FSSGX vs. FELIX - Sharpe Ratio Comparison

The current FSSGX Sharpe Ratio is 2.09, which is lower than the FELIX Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of FSSGX and FELIX, 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. FELIX - Drawdown Comparison

The maximum FSSGX drawdown since its inception was -24.11%, smaller than the maximum FELIX drawdown of -71.17%. Use the drawdown chart below to compare losses from any high point for FSSGX and FELIX.

Drawdown Indicators

	FSSGX	FELIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.11%	-71.17%	+47.06%
Max Drawdown (1Y) Largest decline over 1 year	-13.47%	-15.37%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	-15.80%	-36.40%	+20.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.02%	—
Current Drawdown Current decline from peak	-6.03%	-10.04%	+4.01%
Average Drawdown Average peak-to-trough decline	-5.44%	-21.08%	+15.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	4.64%	-0.70%

Volatility

FSSGX vs. FELIX - Volatility Comparison

The current volatility for Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) is 10.52%, while Fidelity Advisor Semiconductors Fund Class I (FELIX) has a volatility of 18.99%. This indicates that FSSGX experiences smaller price fluctuations and is considered to be less risky than FELIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSSGX	FELIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.52%	18.99%	-8.47%
Volatility (6M) Calculated over the trailing 6-month period	20.72%	31.92%	-11.20%
Volatility (1Y) Calculated over the trailing 1-year period	23.02%	38.26%	-15.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	39.43%	-19.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	35.21%	-15.25%

FSSGX vs. FELIX - Expense Ratio Comparison

FSSGX has a 0.95% expense ratio, which is higher than FELIX's 0.69% expense ratio.

Dividends

FSSGX vs. FELIX - Dividend Comparison

FSSGX's dividend yield for the trailing twelve months is around 2.27%, less than FELIX's 3.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELIX Fidelity Advisor Semiconductors Fund Class I	3.83%	6.51%	6.44%	3.15%	3.09%	4.14%	4.43%	1.04%	19.34%	9.50%	0.55%	10.37%
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	2.27%	2.87%	3.83%	1.01%	0.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSSGX and FELIX in my portfolio?

FSSGX and FELIX have a correlation of 0.76, 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 FELIX?

FELIX has higher volatility (18.99%) compared to FSSGX (10.52%). In terms of maximum drawdown, FSSGX dropped -24.11% vs FELIX's -71.17%.

Which has better risk-adjusted returns?

FELIX currently has the higher Sharpe Ratio (3.02 vs 2.09), 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.