FWOMX vs. FSEAX

Last updated Jun 4, 2026

FWOMX (Fidelity Women's Leadership Fund) and FSEAX (Fidelity Emerging Asia Fund) are both mutual funds - FWOMX is a Large Cap Blend Equities fund managed by Fidelity, while FSEAX is a Asia Pacific Equities fund managed by Fidelity. Over the past 5 years, FWOMX returned 9.83%/yr vs 8.65%/yr for FSEAX. A 0.65 correlation means they provide meaningful diversification when combined. FWOMX charges 0.90%/yr vs 1.02%/yr for FSEAX.

Performance

FWOMX vs. FSEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Women's Leadership Fund (FWOMX) and Fidelity Emerging Asia Fund (FSEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWOMX achieves a 15.91% return, which is significantly lower than FSEAX's 39.57% return.

FWOMX

• 1D: 0.64%
• 1M: 7.55%
• YTD: 15.91%
• 6M: 13.58%
• 1Y: 34.29%
• 3Y*: 19.32%
• 5Y*: 9.83%
• 10Y*: —

FSEAX

• 1D: 1.71%
• 1M: 12.18%
• YTD: 39.57%
• 6M: 44.64%
• 1Y: 74.85%
• 3Y*: 35.25%
• 5Y*: 8.65%
• 10Y*: 16.15%

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

FWOMX vs. FSEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FWOMX Fidelity Women's Leadership Fund	15.91%	16.20%	13.70%	21.12%	-19.82%	19.42%	25.30%	11.06%
FSEAX Fidelity Emerging Asia Fund	39.57%	36.43%	21.80%	13.58%	-31.26%	-14.91%	73.43%	17.27%

Correlation

The correlation between FWOMX and FSEAX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 22, 2019	0.65

The correlation between FWOMX and FSEAX has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.

Return for Risk

FWOMX vs. FSEAX — Risk / Return Rank

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

FWOMX

FWOMX Risk / Return Rank: 74
FWOMX Sharpe Ratio Rank: 80
FWOMX Sortino Ratio Rank: 71
FWOMX Omega Ratio Rank: 68
FWOMX Calmar Ratio Rank: 71
FWOMX Martin Ratio Rank: 80

FSEAX

FSEAX Risk / Return Rank: 94
FSEAX Sharpe Ratio Rank: 98
FSEAX Sortino Ratio Rank: 92
FSEAX Omega Ratio Rank: 92
FSEAX Calmar Ratio Rank: 95
FSEAX Martin Ratio Rank: 94

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.

FWOMX vs. FSEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Women's Leadership Fund (FWOMX) and Fidelity Emerging Asia Fund (FSEAX). 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.

	FWOMX	FSEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	3.87	-1.26
Sortino ratio: Return per unit of downside risk	3.52	4.61	-1.09
Omega ratio: Gain probability vs. loss probability	1.46	1.69	-0.23
Calmar ratio: Return relative to maximum drawdown	3.30	5.65	-2.35
Martin ratio: Return relative to average drawdown	15.06	20.59	-5.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FWOMX vs. FSEAX - Sharpe Ratio Comparison

The current FWOMX Sharpe Ratio is 2.61, which is lower than the FSEAX Sharpe Ratio of 3.87. The chart below compares the historical Sharpe Ratios of FWOMX and FSEAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FWOMX	FSEAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	3.87	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.38	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.43	+0.24

Drawdowns

FWOMX vs. FSEAX - Drawdown Comparison

The maximum FWOMX drawdown since its inception was -36.47%, smaller than the maximum FSEAX drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for FWOMX and FSEAX.

Drawdown Indicators

	FWOMX	FSEAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.47%	-65.59%	+29.12%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-13.42%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-21.53%	-17.54%	-3.99%
Max Drawdown (5Y) Largest decline over 5 years	-30.05%	-53.64%	+23.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-58.07%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.40%	-24.68%	+17.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	3.67%	-1.33%

Volatility

FWOMX vs. FSEAX - Volatility Comparison

The current volatility for Fidelity Women's Leadership Fund (FWOMX) is 3.87%, while Fidelity Emerging Asia Fund (FSEAX) has a volatility of 8.45%. This indicates that FWOMX experiences smaller price fluctuations and is considered to be less risky than FSEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWOMX	FSEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	8.45%	-4.58%
Volatility (6M) Calculated over the trailing 6-month period	10.83%	16.42%	-5.59%
Volatility (1Y) Calculated over the trailing 1-year period	13.58%	19.59%	-6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	22.86%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.58%	21.02%	-0.44%

FWOMX vs. FSEAX - Expense Ratio Comparison

FWOMX has a 0.90% expense ratio, which is lower than FSEAX's 1.02% expense ratio.

Dividends

FWOMX vs. FSEAX - Dividend Comparison

FWOMX's dividend yield for the trailing twelve months is around 2.75%, more than FSEAX's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSEAX Fidelity Emerging Asia Fund	0.15%	0.22%	0.00%	0.08%	0.00%	14.14%	14.10%	6.15%	3.44%	0.05%	1.26%	0.44%
FWOMX Fidelity Women's Leadership Fund	2.75%	3.19%	1.89%	0.57%	0.62%	2.65%	0.21%	0.27%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FWOMX and FSEAX in my portfolio?

FWOMX and FSEAX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWOMX or FSEAX?

FSEAX has higher volatility (8.45%) compared to FWOMX (3.87%). In terms of maximum drawdown, FWOMX dropped -36.47% vs FSEAX's -65.59%.

Which has better risk-adjusted returns?

FSEAX currently has the higher Sharpe Ratio (3.87 vs 2.61), 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.