HWNIX vs. FAOIX

Last updated Jun 3, 2026

HWNIX (Hotchkis & Wiley International Value Fund) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 10 years, HWNIX returned 11.05%/yr vs 7.40%/yr for FAOIX. A 0.78 correlation means they provide meaningful diversification when combined. HWNIX charges 0.95%/yr vs 1.12%/yr for FAOIX.

Performance

HWNIX vs. FAOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley International Value Fund (HWNIX) and Fidelity Advisor Overseas Fund Class I (FAOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, HWNIX has outperformed FAOIX with an annualized return of 11.05%, while FAOIX has yielded a comparatively lower 7.40% annualized return.

HWNIX

• 1D: 0.84%
• 1M: 6.19%
• YTD: 14.61%
• 6M: 19.51%
• 1Y: 30.66%
• 3Y*: 24.04%
• 5Y*: 13.87%
• 10Y*: 11.05%

FAOIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -2.23%
• 3Y*: 8.78%
• 5Y*: 3.56%
• 10Y*: 7.40%

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

HWNIX vs. FAOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWNIX Hotchkis & Wiley International Value Fund	14.61%	41.40%	5.92%	22.98%	-5.40%	18.12%	-2.36%	20.53%	-18.77%	18.13%
FAOIX Fidelity Advisor Overseas Fund Class I	0.00%	15.25%	4.92%	20.35%	-24.38%	19.23%	15.08%	27.82%	-14.85%	30.05%

Correlation

The correlation between HWNIX and FAOIX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.78

Over the past year, the correlation between HWNIX and FAOIX has dropped to 0.54 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

HWNIX vs. FAOIX — Risk / Return Rank

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

HWNIX

HWNIX Risk / Return Rank: 54
HWNIX Sharpe Ratio Rank: 58
HWNIX Sortino Ratio Rank: 54
HWNIX Omega Ratio Rank: 53
HWNIX Calmar Ratio Rank: 52
HWNIX Martin Ratio Rank: 53

FAOIX

FAOIX Risk / Return Rank: 5
FAOIX Sharpe Ratio Rank: 2
FAOIX Sortino Ratio Rank: 2
FAOIX Omega Ratio Rank: 2
FAOIX Calmar Ratio Rank: 13
FAOIX Martin Ratio Rank: 8

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.

HWNIX vs. FAOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley International Value Fund (HWNIX) and Fidelity Advisor Overseas Fund Class I (FAOIX). 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.

	HWNIX	FAOIX	Difference
Sharpe ratio Return per unit of total volatility	2.24	-0.18	+2.42
Sortino ratio Return per unit of downside risk	3.11	-0.18	+3.29
Omega ratio Gain probability vs. loss probability	1.40	0.97	+0.43
Calmar ratio Return relative to maximum drawdown	2.77	1.24	+1.53
Martin ratio Return relative to average drawdown	10.77	2.28	+8.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HWNIX vs. FAOIX - Sharpe Ratio Comparison

The current HWNIX Sharpe Ratio is 2.24, which is higher than the FAOIX Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of HWNIX and FAOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HWNIX	FAOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	-0.18	+2.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.22	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.45	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.32	+0.24

Drawdowns

HWNIX vs. FAOIX - Drawdown Comparison

The maximum HWNIX drawdown since its inception was -48.97%, smaller than the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for HWNIX and FAOIX.

Drawdown Indicators

	HWNIX	FAOIX	Difference
Max Drawdown Largest peak-to-trough decline	-48.97%	-59.86%	+10.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.63%	-7.28%	-4.35%
Max Drawdown (3Y) Largest decline over 3 years	-14.93%	-13.98%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-29.23%	-36.33%	+7.10%
Max Drawdown (10Y) Largest decline over 10 years	-48.97%	-36.33%	-12.64%
Current Drawdown Current decline from peak	0.00%	-5.85%	+5.85%
Average Drawdown Average peak-to-trough decline	-8.00%	-14.20%	+6.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	3.95%	-0.96%

Volatility

HWNIX vs. FAOIX - Volatility Comparison

Hotchkis & Wiley International Value Fund (HWNIX) has a higher volatility of 4.41% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that HWNIX's price experiences larger fluctuations and is considered to be riskier than FAOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWNIX	FAOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	0.00%	+4.41%
Volatility (6M) Calculated over the trailing 6-month period	11.45%	4.08%	+7.37%
Volatility (1Y) Calculated over the trailing 1-year period	14.43%	9.22%	+5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.82%	16.74%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	16.70%	+3.28%

HWNIX vs. FAOIX - Expense Ratio Comparison

HWNIX has a 0.95% expense ratio, which is lower than FAOIX's 1.12% expense ratio.

Dividends

HWNIX vs. FAOIX - Dividend Comparison

HWNIX's dividend yield for the trailing twelve months is around 14.75%, more than FAOIX's 8.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAOIX Fidelity Advisor Overseas Fund Class I	8.49%	8.49%	1.66%	0.96%	0.63%	2.06%	0.00%	1.35%	5.09%	3.79%	1.49%	0.63%
HWNIX Hotchkis & Wiley International Value Fund	14.75%	16.90%	13.76%	8.40%	3.20%	1.46%	1.21%	3.77%	7.96%	5.89%	3.90%	0.00%

Frequently Asked Questions

Can I hold both HWNIX and FAOIX in my portfolio?

HWNIX and FAOIX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWNIX or FAOIX?

HWNIX has higher volatility (4.41%) compared to FAOIX (0.00%). In terms of maximum drawdown, HWNIX dropped -48.97% vs FAOIX's -59.86%.

Which has better risk-adjusted returns?

HWNIX currently has the higher Sharpe Ratio (2.24 vs -0.18), 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.