FZAEX vs. BSPGX
FZAEX (Fidelity Advisor Focused Emerging Markets Fund Class Z) and BSPGX (iShares S&P 500 Index Fund Class G) are both mutual funds - FZAEX is a Emerging Markets Equities fund managed by Fidelity, while BSPGX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, FZAEX returned 9.84%/yr vs 13.59%/yr for BSPGX. A 0.63 correlation means they provide meaningful diversification when combined. FZAEX charges 0.90%/yr vs 0.01%/yr for BSPGX.
Performance
FZAEX vs. BSPGX - Performance Comparison
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Returns By Period
In the year-to-date period, FZAEX achieves a 31.44% return, which is significantly higher than BSPGX's 9.78% return.
FZAEX
- 1D
- -0.09%
- 1M
- 6.35%
- YTD
- 31.44%
- 6M
- 32.63%
- 1Y
- 64.35%
- 3Y*
- 28.15%
- 5Y*
- 9.84%
- 10Y*
- 13.49%
BSPGX
- 1D
- -0.36%
- 1M
- 0.10%
- YTD
- 9.78%
- 6M
- 8.78%
- 1Y
- 25.47%
- 3Y*
- 21.37%
- 5Y*
- 13.59%
- 10Y*
- —
FZAEX vs. BSPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 31.44% | 40.25% | 9.43% | 8.60% | -19.75% | -2.50% | 30.63% | 6.87% |
BSPGX iShares S&P 500 Index Fund Class G | 9.78% | 17.85% | 24.96% | 26.27% | -18.12% | 28.66% | 19.16% | 11.06% |
Correlation
The correlation between FZAEX and BSPGX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2019 | 0.63 |
The correlation between FZAEX and BSPGX has been stable across timeframes, ranging from 0.59 to 0.69 - a consistent structural relationship.
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Return for Risk
FZAEX vs. BSPGX — Risk / Return Rank
FZAEX
BSPGX
FZAEX vs. BSPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and iShares S&P 500 Index Fund Class G (BSPGX). 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.
| FZAEX | BSPGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.39 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 3.01 | +1.74 |
| Martin ratioReturn relative to average drawdown | 18.24 | 13.60 | +4.64 |
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Drawdowns
FZAEX vs. BSPGX - Drawdown Comparison
The maximum FZAEX drawdown since its inception was -41.73%, which is greater than BSPGX's maximum drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for FZAEX and BSPGX.
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Drawdown Indicators
| FZAEX | BSPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.73% | -33.74% | -7.99% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -8.90% | -4.81% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -18.73% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -39.45% | -24.50% | -14.95% |
Max Drawdown (10Y)Largest decline over 10 years | -41.73% | — | — |
Current DrawdownCurrent decline from peak | -1.76% | -1.72% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -12.36% | -5.06% | -7.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 1.97% | +1.59% |
Volatility
FZAEX vs. BSPGX - Volatility Comparison
Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) has a higher volatility of 10.58% compared to iShares S&P 500 Index Fund Class G (BSPGX) at 4.67%. This indicates that FZAEX's price experiences larger fluctuations and is considered to be riskier than BSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZAEX | BSPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.58% | 4.67% | +5.91% |
Volatility (6M)Calculated over the trailing 6-month period | 17.91% | 9.83% | +8.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 12.49% | +7.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.34% | 16.98% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.01% | 20.00% | -0.99% |
FZAEX vs. BSPGX - Expense Ratio Comparison
FZAEX has a 0.90% expense ratio, which is higher than BSPGX's 0.01% expense ratio.
Dividends
FZAEX vs. BSPGX - Dividend Comparison
FZAEX's dividend yield for the trailing twelve months is around 1.26%, less than BSPGX's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSPGX iShares S&P 500 Index Fund Class G | 1.61% | 1.74% | 1.43% | 1.52% | 2.04% | 1.83% | 2.09% | 2.25% | 0.00% | 0.00% | 0.00% | 0.00% |
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 1.26% | 1.65% | 1.36% | 1.69% | 1.23% | 5.35% | 2.23% | 11.13% | 0.78% | 0.10% | 0.63% | 0.34% |
Frequently Asked Questions
FZAEX and BSPGX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FZAEX has higher volatility (10.58%) compared to BSPGX (4.67%). In terms of maximum drawdown, FZAEX dropped -41.73% vs BSPGX's -33.74%.
FZAEX currently has the higher Sharpe Ratio (3.25 vs 2.15), 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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