FSZZX vs. VEMRX
FSZZX (Fidelity Sustainable Emerging Markets Equity Fund) and VEMRX (Vanguard Emerging Markets Index Fund Institutional Plus Shares) are both Emerging Markets Equities funds. Over the past 3 years, FSZZX returned 19.90%/yr vs 13.74%/yr for VEMRX. Their correlation of 0.95 means they have usually moved in the same direction. FSZZX charges 1.15%/yr vs 0.08%/yr for VEMRX.
Performance
FSZZX vs. VEMRX - Performance Comparison
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Returns By Period
In the year-to-date period, FSZZX achieves a 19.20% return, which is significantly higher than VEMRX's 7.83% return.
FSZZX
- 1D
- 3.76%
- 1M
- -3.09%
- 6M
- 9.06%
- YTD
- 19.20%
- 1Y
- 39.43%
- 3Y*
- 19.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.80%
VEMRX
- 1D
- 1.69%
- 1M
- -1.72%
- 6M
- 2.69%
- YTD
- 7.83%
- 1Y
- 20.01%
- 3Y*
- 13.74%
- 5Y*
- 5.83%
- 10Y*
- 7.63%
- ALL TIME*
- 4.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSZZX vs. VEMRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSZZX Fidelity Sustainable Emerging Markets Equity Fund | 19.20% | 39.03% | 6.12% | 11.47% | -22.70% |
VEMRX Vanguard Emerging Markets Index Fund Institutional Plus Shares | 7.83% | 24.84% | 11.40% | 8.88% | -18.77% |
Correlation
The correlation between FSZZX and VEMRX is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.95 |
The correlation between FSZZX and VEMRX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
FSZZX vs. VEMRX — Risk / Return Rank
FSZZX
VEMRX
FSZZX vs. VEMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Emerging Markets Equity Fund (FSZZX) and Vanguard Emerging Markets Index Fund Institutional Plus Shares (VEMRX). 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.
| FSZZX | VEMRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 1.66 | +1.08 |
| Martin ratioReturn relative to average drawdown | 8.23 | 5.54 | +2.68 |
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Drawdowns
FSZZX vs. VEMRX - Drawdown Comparison
The maximum FSZZX drawdown since its inception was -33.67%, smaller than the maximum VEMRX drawdown of -36.01%. Use the drawdown chart below to compare losses from any high point for FSZZX and VEMRX.
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Drawdown Indicators
| FSZZX | VEMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -36.01% | +2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -11.04% | -2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -17.12% | -15.74% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.01% | — |
Current DrawdownCurrent decline from peak | -10.37% | -5.42% | -4.95% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -12.73% | +1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 3.30% | +1.23% |
Volatility
FSZZX vs. VEMRX - Volatility Comparison
Fidelity Sustainable Emerging Markets Equity Fund (FSZZX) has a higher volatility of 8.92% compared to Vanguard Emerging Markets Index Fund Institutional Plus Shares (VEMRX) at 5.22%. This indicates that FSZZX's price experiences larger fluctuations and is considered to be riskier than VEMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSZZX | VEMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 5.22% | +3.70% |
Volatility (6M)Calculated over the trailing 6-month period | 21.23% | 13.81% | +7.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.58% | 15.99% | +7.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.79% | 15.59% | +5.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 16.50% | +4.29% |
FSZZX vs. VEMRX - Expense Ratio Comparison
FSZZX has a 1.15% expense ratio, which is higher than VEMRX's 0.08% expense ratio.
Dividends
FSZZX vs. VEMRX - Dividend Comparison
FSZZX's dividend yield for the trailing twelve months is around 0.86%, less than VEMRX's 2.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSZZX Fidelity Sustainable Emerging Markets Equity Fund | 0.86% | 1.02% | 1.48% | 1.74% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEMRX Vanguard Emerging Markets Index Fund Institutional Plus Shares | 2.40% | 2.79% | 3.19% | 3.53% | 4.11% | 2.63% | 1.92% | 3.26% | 2.92% | 2.35% | 2.56% | 3.31% |
Frequently Asked Questions
With a correlation of 0.93, FSZZX and VEMRX 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.
FSZZX has higher volatility (8.92%) compared to VEMRX (5.22%). In terms of maximum drawdown, FSZZX dropped -33.67% vs VEMRX's -36.01%.
FSZZX currently has the higher Sharpe Ratio (1.58 vs 1.15), 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.
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