FZAEX vs. FKEMX
Compare and contrast key facts about Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and Fidelity Emerging Markets K (FKEMX).
FZAEX is managed by Fidelity. It was launched on Aug 13, 2013. FKEMX is managed by Fidelity. It was launched on May 9, 2008.
Performance
FZAEX vs. FKEMX - Performance Comparison
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FZAEX vs. FKEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 4.43% | 40.25% | 9.43% | 8.60% | -19.75% | -2.50% | 30.63% | 29.94% | -17.95% | 46.69% |
FKEMX Fidelity Emerging Markets K | 0.98% | 31.18% | 7.26% | 15.36% | -27.42% | 1.40% | 32.68% | 33.86% | -17.92% | 46.97% |
Returns By Period
In the year-to-date period, FZAEX achieves a 4.43% return, which is significantly higher than FKEMX's 0.98% return. Over the past 10 years, FZAEX has outperformed FKEMX with an annualized return of 10.89%, while FKEMX has yielded a comparatively lower 10.08% annualized return.
FZAEX
- 1D
- 3.46%
- 1M
- -8.80%
- YTD
- 4.43%
- 6M
- 9.44%
- 1Y
- 36.89%
- 3Y*
- 18.90%
- 5Y*
- 5.41%
- 10Y*
- 10.89%
FKEMX
- 1D
- 3.49%
- 1M
- -7.62%
- YTD
- 0.98%
- 6M
- 4.40%
- 1Y
- 33.13%
- 3Y*
- 14.76%
- 5Y*
- 3.11%
- 10Y*
- 10.08%
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FZAEX vs. FKEMX - Expense Ratio Comparison
FZAEX has a 0.90% expense ratio, which is higher than FKEMX's 0.77% expense ratio.
Return for Risk
FZAEX vs. FKEMX — Risk / Return Rank
FZAEX
FKEMX
FZAEX vs. FKEMX - 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 Fidelity Emerging Markets K (FKEMX). 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.
| FZAEX | FKEMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.05 | 1.75 | +0.30 |
Sortino ratioReturn per unit of downside risk | 2.58 | 2.36 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.34 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.69 | 2.36 | +0.33 |
Martin ratioReturn relative to average drawdown | 10.21 | 8.85 | +1.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FZAEX | FKEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.75 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.17 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.55 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.18 | +0.32 |
Correlation
The correlation between FZAEX and FKEMX is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FZAEX vs. FKEMX - Dividend Comparison
FZAEX's dividend yield for the trailing twelve months is around 1.58%, more than FKEMX's 0.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 1.58% | 1.65% | 1.36% | 1.69% | 1.23% | 5.35% | 2.23% | 11.13% | 0.78% | 0.10% | 0.63% | 0.34% |
FKEMX Fidelity Emerging Markets K | 0.07% | 0.07% | 0.78% | 1.24% | 0.89% | 6.18% | 1.46% | 1.85% | 1.00% | 0.08% | 0.84% | 0.70% |
Drawdowns
FZAEX vs. FKEMX - Drawdown Comparison
The maximum FZAEX drawdown since its inception was -41.73%, smaller than the maximum FKEMX drawdown of -69.07%. Use the drawdown chart below to compare losses from any high point for FZAEX and FKEMX.
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Drawdown Indicators
| FZAEX | FKEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.73% | -69.07% | +27.34% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -13.00% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -40.39% | -40.79% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -41.73% | -43.13% | +1.40% |
Current DrawdownCurrent decline from peak | -10.73% | -9.97% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -12.53% | -21.49% | +8.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 3.47% | +0.13% |
Volatility
FZAEX vs. FKEMX - Volatility Comparison
The current volatility for Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) is 9.38%, while Fidelity Emerging Markets K (FKEMX) has a volatility of 9.99%. This indicates that FZAEX experiences smaller price fluctuations and is considered to be less risky than FKEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZAEX | FKEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.38% | 9.99% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 14.56% | -1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.66% | 19.60% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.52% | 18.56% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.58% | 18.46% | +0.12% |