FZAEX vs. SIVLX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and Seafarer Overseas Value Fund Institutional Class (SIVLX).

FZAEX is managed by Fidelity. It was launched on Aug 13, 2013. SIVLX is an actively managed fund by Seafarer. It was launched on May 31, 2016.

Performance

FZAEX vs. SIVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) and Seafarer Overseas Value Fund Institutional Class (SIVLX). The values are adjusted to include any dividend payments, if applicable.

FZAEX vs. SIVLX - 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%	45.85%
SIVLX Seafarer Overseas Value Fund Institutional Class	3.00%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%

Returns By Period

In the year-to-date period, FZAEX achieves a 4.43% return, which is significantly higher than SIVLX's 3.00% 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%

SIVLX

• 1D: 1.63%
• 1M: -9.66%
• YTD: 3.00%
• 6M: 7.86%
• 1Y: 33.96%
• 3Y*: 14.01%
• 5Y*: 9.57%
• 10Y*: —

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

FZAEX vs. SIVLX - Expense Ratio Comparison

FZAEX has a 0.90% expense ratio, which is lower than SIVLX's 1.05% expense ratio.

SIVLX

Seafarer Overseas Value Fund Institutional Class

FZAEX

Fidelity Advisor Focused Emerging Markets Fund Class Z

Return for Risk

FZAEX vs. SIVLX — Risk / Return Rank

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

FZAEX

FZAEX Risk / Return Rank: 90
FZAEX Sharpe Ratio Rank: 92
FZAEX Sortino Ratio Rank: 89
FZAEX Omega Ratio Rank: 89
FZAEX Calmar Ratio Rank: 91
FZAEX Martin Ratio Rank: 89

SIVLX

SIVLX Risk / Return Rank: 93
SIVLX Sharpe Ratio Rank: 98
SIVLX Sortino Ratio Rank: 96
SIVLX Omega Ratio Rank: 96
SIVLX Calmar Ratio Rank: 89
SIVLX Martin Ratio Rank: 89

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.

FZAEX vs. SIVLX - 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 Seafarer Overseas Value Fund Institutional Class (SIVLX). 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	SIVLX	Difference
Sharpe ratio Return per unit of total volatility	2.05	2.82	-0.76
Sortino ratio Return per unit of downside risk	2.58	3.40	-0.82
Omega ratio Gain probability vs. loss probability	1.40	1.56	-0.16
Calmar ratio Return relative to maximum drawdown	2.69	2.68	0.00
Martin ratio Return relative to average drawdown	10.21	10.66	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZAEX vs. SIVLX - Sharpe Ratio Comparison

The current FZAEX Sharpe Ratio is 2.05, which is comparable to the SIVLX Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of FZAEX and SIVLX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FZAEX	SIVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.82	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.84	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.75	-0.26

Correlation

The correlation between FZAEX and SIVLX is 0.73, 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. SIVLX - Dividend Comparison

FZAEX's dividend yield for the trailing twelve months is around 1.58%, less than SIVLX's 4.90% 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%
SIVLX Seafarer Overseas Value Fund Institutional Class	4.90%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%	0.00%

Drawdowns

FZAEX vs. SIVLX - Drawdown Comparison

The maximum FZAEX drawdown since its inception was -41.73%, which is greater than SIVLX's maximum drawdown of -33.09%. Use the drawdown chart below to compare losses from any high point for FZAEX and SIVLX.

Drawdown Indicators

	FZAEX	SIVLX	Difference
Max Drawdown Largest peak-to-trough decline	-41.73%	-33.09%	-8.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-12.51%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-40.39%	-16.39%	-24.00%
Max Drawdown (10Y) Largest decline over 10 years	-41.73%	—	—
Current Drawdown Current decline from peak	-10.73%	-11.08%	+0.35%
Average Drawdown Average peak-to-trough decline	-12.53%	-5.60%	-6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	3.15%	+0.45%

Volatility

FZAEX vs. SIVLX - Volatility Comparison

Fidelity Advisor Focused Emerging Markets Fund Class Z (FZAEX) has a higher volatility of 9.38% compared to Seafarer Overseas Value Fund Institutional Class (SIVLX) at 6.54%. This indicates that FZAEX's price experiences larger fluctuations and is considered to be riskier than SIVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAEX	SIVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	6.54%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	13.47%	9.18%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	12.64%	+6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.52%	11.51%	+7.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.58%	12.56%	+6.02%