FZAEX vs. FTMKX
FZAEX (Fidelity Advisor Focused Emerging Markets Fund Class Z) and FTMKX (Fidelity Advisor Focused Emerging Markets Fund Class M) are both Emerging Markets Equities funds from Fidelity. Over the past 10 years, FZAEX returned 13.00%/yr vs 12.26%/yr for FTMKX. With a 1.00 correlation, they move nearly in lockstep. FZAEX charges 0.90%/yr vs 1.61%/yr for FTMKX.
Performance
FZAEX vs. FTMKX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FZAEX having a 29.72% return and FTMKX slightly lower at 29.38%. Over the past 10 years, FZAEX has outperformed FTMKX with an annualized return of 13.00%, while FTMKX has yielded a comparatively lower 12.26% annualized return.
FZAEX
- 1D
- -1.56%
- 1M
- 4.56%
- YTD
- 29.72%
- 6M
- 32.15%
- 1Y
- 62.24%
- 3Y*
- 27.93%
- 5Y*
- 8.86%
- 10Y*
- 13.00%
FTMKX
- 1D
- -1.56%
- 1M
- 4.51%
- YTD
- 29.38%
- 6M
- 31.75%
- 1Y
- 61.27%
- 3Y*
- 27.13%
- 5Y*
- 8.14%
- 10Y*
- 12.26%
FZAEX vs. FTMKX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 29.72% | 40.25% | 9.43% | 8.60% | -19.75% | -2.50% | 30.63% | 29.94% | -17.95% | 46.69% |
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M | 29.38% | 39.38% | 8.73% | 7.84% | -20.29% | -3.19% | 29.65% | 28.95% | -18.56% | 46.33% |
Correlation
The correlation between FZAEX and FTMKX 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 (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013 | 1.00 |
The correlation between FZAEX and FTMKX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
FZAEX vs. FTMKX — Risk / Return Rank
FZAEX
FTMKX
FZAEX vs. FTMKX - 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 Advisor Focused Emerging Markets Fund Class M (FTMKX). 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 | FTMKX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.63 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | 4.59 | +0.09 |
| Martin ratioReturn relative to average drawdown | 19.05 | 18.68 | +0.37 |
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 | FTMKX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.54 | 3.48 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.43 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.65 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.43 | +0.16 |
Drawdowns
FZAEX vs. FTMKX - Drawdown Comparison
The maximum FZAEX drawdown since its inception was -41.73%, smaller than the maximum FTMKX drawdown of -70.17%. Use the drawdown chart below to compare losses from any high point for FZAEX and FTMKX.
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Drawdown Indicators
| FZAEX | FTMKX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.73% | -70.17% | +28.44% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -13.75% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -18.94% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -40.15% | -40.72% | +0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -41.73% | -42.43% | +0.70% |
Current DrawdownCurrent decline from peak | -3.05% | -3.06% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -12.38% | -20.98% | +8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.37% | -0.01% |
Volatility
FZAEX vs. FTMKX - Volatility Comparison
Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and Fidelity Advisor Focused Emerging Markets Fund Class M (FTMKX) have volatilities of 8.33% and 8.33%, 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.
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Volatility by Period
| FZAEX | FTMKX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.33% | 8.33% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 15.64% | 15.64% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 18.14% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.94% | 18.94% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.82% | 18.83% | -0.01% |
FZAEX vs. FTMKX - Expense Ratio Comparison
FZAEX has a 0.90% expense ratio, which is lower than FTMKX's 1.61% expense ratio.
Dividends
FZAEX vs. FTMKX - Dividend Comparison
FZAEX's dividend yield for the trailing twelve months is around 1.27%, more than FTMKX's 0.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTMKX Fidelity Advisor Focused Emerging Markets Fund Class M | 0.80% | 1.04% | 0.78% | 0.98% | 0.47% | 4.58% | 1.62% | 10.48% | 0.00% | 0.08% | 0.00% | 0.00% |
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 1.27% | 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
With a correlation of 1.00, FZAEX and FTMKX 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.
FTMKX has higher volatility (8.33%) compared to FZAEX (8.33%). In terms of maximum drawdown, FZAEX dropped -41.73% vs FTMKX's -70.17%.
FZAEX currently has the higher Sharpe Ratio (3.54 vs 3.48), 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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