FTMKX vs. SFENX

Last updated Jun 23, 2026

FTMKX (Fidelity Advisor Focused Emerging Markets Fund Class M) and SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) are both Emerging Markets Equities funds. Over the past 10 years, FTMKX returned 12.51%/yr vs 10.90%/yr for SFENX. Their correlation of 0.89 suggests significant overlap in exposure. FTMKX charges 1.61%/yr vs 0.39%/yr for SFENX.

Performance

FTMKX vs. SFENX - 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 Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMKX achieves a 31.17% return, which is significantly higher than SFENX's 13.58% return. Over the past 10 years, FTMKX has outperformed SFENX with an annualized return of 12.51%, while SFENX has yielded a comparatively lower 10.90% annualized return.

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%

SFENX

• 1D: 0.47%
• 1M: 1.10%
• YTD: 13.58%
• 6M: 14.59%
• 1Y: 32.77%
• 3Y*: 19.38%
• 5Y*: 9.93%
• 10Y*: 10.90%

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

FTMKX vs. SFENX - 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%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	13.58%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%

Correlation

The correlation between FTMKX and SFENX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.89

The correlation between FTMKX and SFENX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

FTMKX vs. SFENX — 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

SFENX

SFENX Risk / Return Rank: 70
SFENX Sharpe Ratio Rank: 73
SFENX Sortino Ratio Rank: 67
SFENX Omega Ratio Rank: 69
SFENX Calmar Ratio Rank: 78
SFENX Martin Ratio Rank: 64

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. SFENX - 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 Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). 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	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	3.12	2.30	+0.83
Sortino ratio: Return per unit of downside risk	3.83	3.10	+0.73
Omega ratio: Gain probability vs. loss probability	1.58	1.42	+0.16
Calmar ratio: Return relative to maximum drawdown	4.56	3.36	+1.19
Martin ratio: Return relative to average drawdown	17.49	11.74	+5.76

FTMKX vs. SFENX - Sharpe Ratio Comparison

The current FTMKX Sharpe Ratio is 3.12, which is higher than the SFENX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FTMKX and SFENX, 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. SFENX - Drawdown Comparison

The maximum FTMKX drawdown since its inception was -70.17%, which is greater than SFENX's maximum drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for FTMKX and SFENX.

Drawdown Indicators

	FTMKX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-70.17%	-47.19%	-22.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-9.45%	-4.30%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-16.51%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-40.01%	-29.26%	-10.75%
Max Drawdown (10Y) Largest decline over 10 years	-42.43%	-39.59%	-2.84%
Current Drawdown Current decline from peak	-1.72%	-3.16%	+1.44%
Average Drawdown Average peak-to-trough decline	-20.95%	-12.86%	-8.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	2.70%	+0.87%

Volatility

FTMKX vs. SFENX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) has a higher volatility of 10.68% compared to Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) at 5.34%. This indicates that FTMKX's price experiences larger fluctuations and is considered to be riskier than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTMKX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	5.34%	+5.34%
Volatility (6M) Calculated over the trailing 6-month period	17.92%	11.51%	+6.41%
Volatility (1Y) Calculated over the trailing 1-year period	20.06%	13.83%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.34%	15.49%	+3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	16.91%	+2.11%

FTMKX vs. SFENX - Expense Ratio Comparison

FTMKX has a 1.61% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

FTMKX vs. SFENX - Dividend Comparison

FTMKX's dividend yield for the trailing twelve months is around 0.79%, less than SFENX's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.46%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%

Frequently Asked Questions

Can I hold both FTMKX and SFENX in my portfolio?

FTMKX and SFENX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTMKX or SFENX?

FTMKX has higher volatility (10.68%) compared to SFENX (5.34%). In terms of maximum drawdown, FTMKX dropped -70.17% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

FTMKX currently has the higher Sharpe Ratio (3.12 vs 2.30), 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.