IEMFX vs. FPADX
Compare and contrast key facts about T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) and Fidelity Emerging Markets Index Fund (FPADX).
IEMFX is managed by T. Rowe Price. It was launched on Oct 30, 2002. FPADX is managed by Fidelity. It was launched on Sep 8, 2011.
Performance
IEMFX vs. FPADX - Performance Comparison
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IEMFX vs. FPADX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMFX T. Rowe Price Institutional Emerging Markets Equity Fund | -0.52% | 32.91% | -1.60% | 2.26% | -23.34% | -10.61% | 17.81% | 26.62% | -16.02% | 42.87% |
FPADX Fidelity Emerging Markets Index Fund | 0.22% | 33.90% | 6.80% | 9.51% | -20.06% | -3.07% | 17.84% | 18.28% | -14.65% | 35.16% |
Returns By Period
In the year-to-date period, IEMFX achieves a -0.52% return, which is significantly lower than FPADX's 0.22% return. Over the past 10 years, IEMFX has underperformed FPADX with an annualized return of 5.71%, while FPADX has yielded a comparatively higher 7.51% annualized return.
IEMFX
- 1D
- -0.89%
- 1M
- -12.87%
- YTD
- -0.52%
- 6M
- 6.39%
- 1Y
- 28.52%
- 3Y*
- 8.02%
- 5Y*
- -2.06%
- 10Y*
- 5.71%
FPADX
- 1D
- -0.87%
- 1M
- -12.34%
- YTD
- 0.22%
- 6M
- 4.75%
- 1Y
- 29.14%
- 3Y*
- 14.61%
- 5Y*
- 3.41%
- 10Y*
- 7.51%
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IEMFX vs. FPADX - Expense Ratio Comparison
IEMFX has a 1.06% expense ratio, which is higher than FPADX's 0.08% expense ratio.
Return for Risk
IEMFX vs. FPADX — Risk / Return Rank
IEMFX
FPADX
IEMFX vs. FPADX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) and Fidelity Emerging Markets Index Fund (FPADX). 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.
| IEMFX | FPADX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 1.64 | -0.08 |
Sortino ratioReturn per unit of downside risk | 2.06 | 2.18 | -0.12 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.94 | 1.98 | -0.04 |
Martin ratioReturn relative to average drawdown | 8.04 | 8.08 | -0.04 |
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
| IEMFX | FPADX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.64 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | 0.21 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.43 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.27 | +0.14 |
Correlation
The correlation between IEMFX and FPADX 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
IEMFX vs. FPADX - Dividend Comparison
IEMFX's dividend yield for the trailing twelve months is around 2.44%, more than FPADX's 2.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMFX T. Rowe Price Institutional Emerging Markets Equity Fund | 2.44% | 2.43% | 0.92% | 1.88% | 3.87% | 3.07% | 0.56% | 1.43% | 1.15% | 0.54% | 0.83% | 0.69% |
FPADX Fidelity Emerging Markets Index Fund | 2.35% | 2.35% | 2.70% | 2.68% | 2.47% | 2.14% | 1.50% | 2.59% | 2.20% | 0.12% | 1.69% | 2.47% |
Drawdowns
IEMFX vs. FPADX - Drawdown Comparison
The maximum IEMFX drawdown since its inception was -71.65%, which is greater than FPADX's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for IEMFX and FPADX.
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Drawdown Indicators
| IEMFX | FPADX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.65% | -39.16% | -32.49% |
Max Drawdown (1Y)Largest decline over 1 year | -13.49% | -13.28% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -43.26% | -37.04% | -6.22% |
Max Drawdown (10Y)Largest decline over 10 years | -46.27% | -39.16% | -7.11% |
Current DrawdownCurrent decline from peak | -17.35% | -13.28% | -4.07% |
Average DrawdownAverage peak-to-trough decline | -19.87% | -13.39% | -6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.26% | -0.01% |
Volatility
IEMFX vs. FPADX - Volatility Comparison
T. Rowe Price Institutional Emerging Markets Equity Fund (IEMFX) has a higher volatility of 9.37% compared to Fidelity Emerging Markets Index Fund (FPADX) at 8.84%. This indicates that IEMFX's price experiences larger fluctuations and is considered to be riskier than FPADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMFX | FPADX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.37% | 8.84% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 13.29% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.16% | 17.59% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.37% | 16.64% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 17.60% | +0.75% |