FZAEX vs. IEMG
Compare and contrast key facts about Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and iShares Core MSCI Emerging Markets ETF (IEMG).
FZAEX is managed by Fidelity. It was launched on Aug 13, 2013. IEMG is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Investable Market Index. It was launched on Oct 18, 2012.
Performance
FZAEX vs. IEMG - Performance Comparison
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FZAEX vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 0.94% | 40.25% | 9.43% | 8.60% | -19.75% | -2.50% | 30.63% | 29.94% | -17.95% | 46.69% |
IEMG iShares Core MSCI Emerging Markets ETF | 3.76% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
Returns By Period
In the year-to-date period, FZAEX achieves a 0.94% return, which is significantly lower than IEMG's 3.76% return. Over the past 10 years, FZAEX has outperformed IEMG with an annualized return of 10.51%, while IEMG has yielded a comparatively lower 8.23% annualized return.
FZAEX
- 1D
- -0.97%
- 1M
- -13.13%
- YTD
- 0.94%
- 6M
- 6.61%
- 1Y
- 33.46%
- 3Y*
- 17.56%
- 5Y*
- 4.90%
- 10Y*
- 10.51%
IEMG
- 1D
- 3.61%
- 1M
- -9.13%
- YTD
- 3.76%
- 6M
- 7.65%
- 1Y
- 33.09%
- 3Y*
- 16.07%
- 5Y*
- 4.37%
- 10Y*
- 8.23%
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FZAEX vs. IEMG - Expense Ratio Comparison
FZAEX has a 0.90% expense ratio, which is higher than IEMG's 0.09% expense ratio.
Return for Risk
FZAEX vs. IEMG — Risk / Return Rank
FZAEX
IEMG
FZAEX vs. IEMG - 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 Core MSCI Emerging Markets ETF (IEMG). 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 | IEMG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 1.68 | +0.08 |
Sortino ratioReturn per unit of downside risk | 2.24 | 2.27 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.48 | -0.31 |
Martin ratioReturn relative to average drawdown | 8.39 | 9.61 | -1.21 |
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 | IEMG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 1.68 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.25 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.42 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.28 | +0.20 |
Correlation
The correlation between FZAEX and IEMG is 0.92, 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. IEMG - Dividend Comparison
FZAEX's dividend yield for the trailing twelve months is around 1.64%, less than IEMG's 2.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZAEX Fidelity Advisor Focused Emerging Markets Fund Class Z | 1.64% | 1.65% | 1.36% | 1.69% | 1.23% | 5.35% | 2.23% | 11.13% | 0.78% | 0.10% | 0.63% | 0.34% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.65% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Drawdowns
FZAEX vs. IEMG - Drawdown Comparison
The maximum FZAEX drawdown since its inception was -41.73%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for FZAEX and IEMG.
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Drawdown Indicators
| FZAEX | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.73% | -38.71% | -3.02% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -13.21% | -0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -40.39% | -35.93% | -4.46% |
Max Drawdown (10Y)Largest decline over 10 years | -41.73% | -38.71% | -3.02% |
Current DrawdownCurrent decline from peak | -13.71% | -10.08% | -3.63% |
Average DrawdownAverage peak-to-trough decline | -12.53% | -13.11% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 3.41% | +0.13% |
Volatility
FZAEX vs. IEMG - Volatility Comparison
The current volatility for Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) is 8.51%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.48%. This indicates that FZAEX experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZAEX | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.51% | 10.48% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 13.08% | 14.67% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.39% | 19.78% | -1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 17.91% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.55% | 19.84% | -1.29% |