FSSGX vs. XSOE

Last updated Jun 23, 2026

FSSGX (Fidelity SAI Sustainable Emerging Markets Equity Fund) and XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) are both funds - FSSGX is a Emerging Markets Diversified fund actively managed by Fidelity, while XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index. FSSGX is actively managed, while XSOE is passively managed. Over the past 3 years, FSSGX returned 25.47%/yr vs 24.54%/yr for XSOE. Their correlation of 0.95 suggests significant overlap in exposure. FSSGX charges 0.95%/yr vs 0.32%/yr for XSOE.

Performance

FSSGX vs. XSOE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSSGX achieves a 32.93% return, which is significantly higher than XSOE's 30.99% return.

FSSGX

• 1D: 3.32%
• 1M: 5.66%
• YTD: 32.93%
• 6M: 34.95%
• 1Y: 61.93%
• 3Y*: 25.47%
• 5Y*: —
• 10Y*: —

XSOE

• 1D: 0.67%
• 1M: 8.73%
• YTD: 30.99%
• 6M: 32.56%
• 1Y: 56.17%
• 3Y*: 24.54%
• 5Y*: 5.95%
• 10Y*: 10.99%

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

FSSGX vs. XSOE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	32.93%	38.40%	7.34%	11.67%	-7.56%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	30.99%	30.05%	7.02%	10.28%	-10.18%

Correlation

The correlation between FSSGX and XSOE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022	0.95

The correlation between FSSGX and XSOE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FSSGX vs. XSOE — Risk / Return Rank

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

FSSGX

FSSGX Risk / Return Rank: 87
FSSGX Sharpe Ratio Rank: 91
FSSGX Sortino Ratio Rank: 79
FSSGX Omega Ratio Rank: 84
FSSGX Calmar Ratio Rank: 92
FSSGX Martin Ratio Rank: 90

XSOE

XSOE Risk / Return Rank: 82
XSOE Sharpe Ratio Rank: 84
XSOE Sortino Ratio Rank: 78
XSOE Omega Ratio Rank: 84
XSOE Calmar Ratio Rank: 83
XSOE Martin Ratio Rank: 81

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. XSOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE). 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	XSOE	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.59	+0.22
Sortino ratio: Return per unit of downside risk	3.42	3.32	+0.10
Omega ratio: Gain probability vs. loss probability	1.52	1.49	+0.03
Calmar ratio: Return relative to maximum drawdown	4.57	4.24	+0.33
Martin ratio: Return relative to average drawdown	16.54	15.50	+1.04

FSSGX vs. XSOE - Sharpe Ratio Comparison

The current FSSGX Sharpe Ratio is 2.82, which is comparable to the XSOE Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of FSSGX and XSOE, 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. XSOE - Drawdown Comparison

The maximum FSSGX drawdown since its inception was -24.11%, smaller than the maximum XSOE drawdown of -45.23%. Use the drawdown chart below to compare losses from any high point for FSSGX and XSOE.

Drawdown Indicators

	FSSGX	XSOE	Difference
Max Drawdown Largest peak-to-trough decline	-24.11%	-45.23%	+21.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.47%	-13.31%	-0.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.80%	-19.96%	+4.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.05%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.23%	—
Current Drawdown Current decline from peak	-1.01%	0.00%	-1.01%
Average Drawdown Average peak-to-trough decline	-5.44%	-17.22%	+11.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	3.63%	+0.08%

Volatility

FSSGX vs. XSOE - Volatility Comparison

Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) and WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) have volatilities of 11.31% and 10.90%, 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

	FSSGX	XSOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.31%	10.90%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	19.46%	19.65%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	21.86%	21.82%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	19.87%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	20.81%	-1.07%

FSSGX vs. XSOE - Expense Ratio Comparison

FSSGX has a 0.95% expense ratio, which is higher than XSOE's 0.32% expense ratio.

Dividends

FSSGX vs. XSOE - Dividend Comparison

FSSGX's dividend yield for the trailing twelve months is around 2.16%, more than XSOE's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	2.16%	2.87%	3.83%	1.01%	0.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	1.25%	1.50%	1.44%	1.78%	2.53%	1.36%	1.02%	2.01%	1.56%	0.65%	1.43%	3.93%

Frequently Asked Questions

Can I hold both FSSGX and XSOE in my portfolio?

With a correlation of 0.93, FSSGX and XSOE 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, FSSGX or XSOE?

FSSGX has higher volatility (11.31%) compared to XSOE (10.90%). In terms of maximum drawdown, FSSGX dropped -24.11% vs XSOE's -45.23%.

Which has better risk-adjusted returns?

FSSGX currently has the higher Sharpe Ratio (2.82 vs 2.59), 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.