FTMKX vs. FMCKX

Last updated Jun 23, 2026

FTMKX (Fidelity Advisor Focused Emerging Markets Fund Class M) and FMCKX (Fidelity Advisor Focused Emerging Markets Fund Class C) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FTMKX returned 12.51%/yr vs 11.95%/yr for FMCKX. With a 1.00 correlation, they move nearly in lockstep. FTMKX charges 1.61%/yr vs 2.11%/yr for FMCKX.

Performance

FTMKX vs. FMCKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and Fidelity Advisor Focused Emerging Markets Fund Class C (FMCKX). 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 FTMKX having a 31.17% return and FMCKX slightly lower at 30.85%. Both investments have delivered pretty close results over the past 10 years, with FTMKX having a 12.51% annualized return and FMCKX not far behind at 11.95%.

FTMKX

• 1D: 2.42%
• 1M: 6.41%
• YTD: 31.17%
• 6M: 32.88%
• 1Y: 63.93%
• 3Y*: 25.62%
• 5Y*: 9.27%
• 10Y*: 12.51%

FMCKX

• 1D: 2.42%
• 1M: 6.37%
• YTD: 30.85%
• 6M: 32.56%
• 1Y: 63.12%
• 3Y*: 24.99%
• 5Y*: 8.73%
• 10Y*: 11.95%

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

FTMKX vs. FMCKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M	31.17%	39.38%	8.73%	7.84%	-20.29%	-3.19%	29.65%	28.95%	-18.56%	46.33%
FMCKX Fidelity Advisor Focused Emerging Markets Fund Class C	30.85%	38.72%	8.19%	7.32%	-20.72%	-3.67%	29.01%	28.31%	-18.95%	45.62%

Correlation

The correlation between FTMKX and FMCKX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Mar 30, 2004	1.00

The correlation between FTMKX and FMCKX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FTMKX vs. FMCKX — Risk / Return Rank

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

FTMKX

FTMKX Risk / Return Rank: 91
FTMKX Sharpe Ratio Rank: 96
FTMKX Sortino Ratio Rank: 86
FTMKX Omega Ratio Rank: 88
FTMKX Calmar Ratio Rank: 92
FTMKX Martin Ratio Rank: 92

FMCKX

FMCKX Risk / Return Rank: 90
FMCKX Sharpe Ratio Rank: 95
FMCKX Sortino Ratio Rank: 86
FMCKX Omega Ratio Rank: 88
FMCKX Calmar Ratio Rank: 91
FMCKX Martin Ratio Rank: 91

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.

FTMKX vs. FMCKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and Fidelity Advisor Focused Emerging Markets Fund Class C (FMCKX). 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.

	FTMKX	FMCKX	Difference
Sharpe ratio: Return per unit of total volatility	3.12	3.08	+0.04
Sortino ratio: Return per unit of downside risk	3.83	3.79	+0.04
Omega ratio: Gain probability vs. loss probability	1.58	1.57	+0.01
Calmar ratio: Return relative to maximum drawdown	4.56	4.48	+0.07
Martin ratio: Return relative to average drawdown	17.49	17.18	+0.31

FTMKX vs. FMCKX - Sharpe Ratio Comparison

The current FTMKX Sharpe Ratio is 3.12, which is comparable to the FMCKX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of FTMKX and FMCKX, 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

FTMKX vs. FMCKX - Drawdown Comparison

The maximum FTMKX drawdown since its inception was -70.17%, roughly equal to the maximum FMCKX drawdown of -70.33%. Use the drawdown chart below to compare losses from any high point for FTMKX and FMCKX.

Drawdown Indicators

	FTMKX	FMCKX	Difference
Max Drawdown Largest peak-to-trough decline	-70.17%	-70.33%	+0.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-13.79%	+0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-19.15%	+0.21%
Max Drawdown (5Y) Largest decline over 5 years	-40.01%	-40.41%	+0.40%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-42.90%	+0.47%
Current Drawdown Current decline from peak	-1.72%	-1.73%	+0.01%
Average Drawdown Average peak-to-trough decline	-20.95%	-21.95%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	3.59%	-0.02%

Volatility

FTMKX vs. FMCKX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) and Fidelity Advisor Focused Emerging Markets Fund Class C (FMCKX) have volatilities of 10.68% and 10.68%, 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

	FTMKX	FMCKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	10.68%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	17.92%	17.92%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	20.06%	20.06%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.34%	19.34%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	19.02%	0.00%

FTMKX vs. FMCKX - Expense Ratio Comparison

FTMKX has a 1.61% expense ratio, which is lower than FMCKX's 2.11% expense ratio.

Dividends

FTMKX vs. FMCKX - Dividend Comparison

FTMKX's dividend yield for the trailing twelve months is around 0.79%, more than FMCKX's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMCKX Fidelity Advisor Focused Emerging Markets Fund Class C	0.53%	0.70%	0.11%	0.53%	0.00%	4.23%	1.27%	11.09%	0.00%	0.00%
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M	0.79%	1.04%	0.78%	0.98%	0.47%	4.58%	1.62%	10.48%	0.00%	0.08%

Frequently Asked Questions

Can I hold both FTMKX and FMCKX in my portfolio?

With a correlation of 1.00, FTMKX and FMCKX 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, FTMKX or FMCKX?

FMCKX has higher volatility (10.68%) compared to FTMKX (10.68%). In terms of maximum drawdown, FTMKX dropped -70.17% vs FMCKX's -70.33%.

Which has better risk-adjusted returns?

FTMKX currently has the higher Sharpe Ratio (3.12 vs 3.08), 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.