FWAFX vs. FIQOX

Last updated Jun 24, 2026

FWAFX (Fidelity Advisor Worldwide Fund Class A) and FIQOX (Fidelity Advisor Worldwide Fund Class Z) are both Global Equities funds from Fidelity. Over the past 5 years, FWAFX returned 12.54%/yr vs 16.04%/yr for FIQOX. With a 1.00 correlation, they move nearly in lockstep. FWAFX charges 1.29%/yr vs 0.90%/yr for FIQOX.

Performance

FWAFX vs. FIQOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Worldwide Fund Class A (FWAFX) and Fidelity Advisor Worldwide Fund Class Z (FIQOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FWAFX having a 24.01% return and FIQOX slightly higher at 24.23%.

FWAFX

• 1D: 0.34%
• 1M: 6.06%
• YTD: 24.01%
• 6M: 22.97%
• 1Y: 42.23%
• 3Y*: 25.72%
• 5Y*: 12.54%
• 10Y*: 15.73%

FIQOX

• 1D: 0.35%
• 1M: 6.11%
• YTD: 24.23%
• 6M: 23.22%
• 1Y: 42.77%
• 3Y*: 31.96%
• 5Y*: 16.04%
• 10Y*: —

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

FWAFX vs. FIQOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FWAFX Fidelity Advisor Worldwide Fund Class A	24.01%	15.83%	27.27%	24.62%	-25.96%	18.13%	30.57%	28.58%	-10.35%
FIQOX Fidelity Advisor Worldwide Fund Class Z	24.23%	16.27%	46.05%	25.10%	-25.64%	18.58%	31.08%	29.13%	-10.40%

Correlation

The correlation between FWAFX and FIQOX 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 (All Time) Calculated using the full available price history since Oct 17, 2018	1.00

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

Return for Risk

FWAFX vs. FIQOX — Risk / Return Rank

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

FWAFX

FWAFX Risk / Return Rank: 75
FWAFX Sharpe Ratio Rank: 75
FWAFX Sortino Ratio Rank: 63
FWAFX Omega Ratio Rank: 67
FWAFX Calmar Ratio Rank: 83
FWAFX Martin Ratio Rank: 88

FIQOX

FIQOX Risk / Return Rank: 77
FIQOX Sharpe Ratio Rank: 77
FIQOX Sortino Ratio Rank: 66
FIQOX Omega Ratio Rank: 69
FIQOX Calmar Ratio Rank: 84
FIQOX Martin Ratio Rank: 88

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.

FWAFX vs. FIQOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Worldwide Fund Class A (FWAFX) and Fidelity Advisor Worldwide Fund Class Z (FIQOX). 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.

	FWAFX	FIQOX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.36	-0.03
Sortino ratio: Return per unit of downside risk	3.05	3.08	-0.03
Omega ratio: Gain probability vs. loss probability	1.42	1.42	-0.01
Calmar ratio: Return relative to maximum drawdown	3.69	3.75	-0.06
Martin ratio: Return relative to average drawdown	15.64	15.90	-0.26

FWAFX vs. FIQOX - Sharpe Ratio Comparison

The current FWAFX Sharpe Ratio is 2.33, which is comparable to the FIQOX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FWAFX and FIQOX, 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

FWAFX vs. FIQOX - Drawdown Comparison

The maximum FWAFX drawdown since its inception was -33.90%, roughly equal to the maximum FIQOX drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for FWAFX and FIQOX.

Drawdown Indicators

	FWAFX	FIQOX	Difference
Max Drawdown Largest peak-to-trough decline	-33.90%	-33.64%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-11.74%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-22.67%	-22.59%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	-33.64%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.18%	-7.81%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.76%	+0.01%

Volatility

FWAFX vs. FIQOX - Volatility Comparison

Fidelity Advisor Worldwide Fund Class A (FWAFX) and Fidelity Advisor Worldwide Fund Class Z (FIQOX) have volatilities of 7.75% and 7.74%, 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

	FWAFX	FIQOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.75%	7.74%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	15.13%	15.12%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	18.68%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.17%	20.26%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	21.26%	-2.32%

FWAFX vs. FIQOX - Expense Ratio Comparison

FWAFX has a 1.29% expense ratio, which is higher than FIQOX's 0.90% expense ratio.

Dividends

FWAFX vs. FIQOX - Dividend Comparison

FWAFX's dividend yield for the trailing twelve months is around 9.33%, which matches FIQOX's 9.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQOX Fidelity Advisor Worldwide Fund Class Z	9.34%	11.60%	26.02%	1.10%	6.51%	12.99%	8.23%	5.09%	9.32%	0.00%	0.00%	0.00%
FWAFX Fidelity Advisor Worldwide Fund Class A	9.33%	11.57%	14.70%	0.66%	6.00%	12.73%	8.01%	4.71%	9.43%	6.66%	0.88%	3.72%

Frequently Asked Questions

Can I hold both FWAFX and FIQOX in my portfolio?

With a correlation of 1.00, FWAFX and FIQOX 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, FWAFX or FIQOX?

FWAFX has higher volatility (7.75%) compared to FIQOX (7.74%). In terms of maximum drawdown, FWAFX dropped -33.90% vs FIQOX's -33.64%.

Which has better risk-adjusted returns?

FIQOX currently has the higher Sharpe Ratio (2.36 vs 2.33), 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.