IIGIX vs. FAERX
IIGIX (Voya Multi-Manager International Equity Fund) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds. Over the past 10 years, IIGIX returned 7.86%/yr vs 7.12%/yr for FAERX. Their correlation of 0.91 means they have usually moved in the same direction. IIGIX charges 0.95%/yr vs 1.65%/yr for FAERX.
Performance
IIGIX vs. FAERX - Performance Comparison
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Returns By Period
Over the past 10 years, IIGIX has outperformed FAERX with an annualized return of 7.86%, while FAERX has yielded a comparatively lower 7.12% annualized return.
IIGIX
- 1D
- 2.28%
- 1M
- 1.88%
- 6M
- 7.43%
- YTD
- 12.73%
- 1Y
- 23.66%
- 3Y*
- 14.75%
- 5Y*
- 6.09%
- 10Y*
- 7.86%
- ALL TIME*
- 6.22%
FAERX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.42%
- 3Y*
- 7.43%
- 5Y*
- 2.30%
- 10Y*
- 7.12%
- ALL TIME*
- 5.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IIGIX vs. FAERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIGIX Voya Multi-Manager International Equity Fund | 12.73% | 27.55% | 4.31% | 14.65% | -21.82% | 6.91% | 15.46% | 23.66% | -15.79% | 25.24% |
FAERX Fidelity Advisor Overseas Fund Class M | 0.00% | 14.70% | 4.40% | 19.78% | -24.77% | 18.63% | 14.43% | 27.14% | -15.25% | 29.37% |
Correlation
The correlation between IIGIX and FAERX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 7, 2011 | 0.91 |
Over the past year, the correlation between IIGIX and FAERX has dropped to 0.35 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
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Return for Risk
IIGIX vs. FAERX — Risk / Return Rank
IIGIX
FAERX
IIGIX vs. FAERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Multi-Manager International Equity Fund (IIGIX) and Fidelity Advisor Overseas Fund Class M (FAERX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IIGIX | FAERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.93 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | -0.35 | +2.65 |
| Martin ratioReturn relative to average drawdown | 8.43 | -0.53 | +8.95 |
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Drawdowns
IIGIX vs. FAERX - Drawdown Comparison
The maximum IIGIX drawdown since its inception was -37.67%, smaller than the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for IIGIX and FAERX.
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Drawdown Indicators
| IIGIX | FAERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.67% | -60.14% | +22.47% |
Max Drawdown (1Y)Largest decline over 1 year | -10.69% | -7.29% | -3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -12.68% | -14.00% | +1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -35.88% | -36.62% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | -36.62% | -1.05% |
Current DrawdownCurrent decline from peak | -0.46% | -5.89% | +5.43% |
Average DrawdownAverage peak-to-trough decline | -8.90% | -14.34% | +5.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 4.51% | -1.66% |
Volatility
IIGIX vs. FAERX - Volatility Comparison
Voya Multi-Manager International Equity Fund (IIGIX) has a higher volatility of 4.42% compared to Fidelity Advisor Overseas Fund Class M (FAERX) at 0.00%. This indicates that IIGIX's price experiences larger fluctuations and is considered to be riskier than FAERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIGIX | FAERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 0.00% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 12.44% | 0.00% | +12.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.88% | 7.69% | +7.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.68% | 16.66% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.93% | 16.28% | +0.65% |
IIGIX vs. FAERX - Expense Ratio Comparison
IIGIX has a 0.95% expense ratio, which is lower than FAERX's 1.65% expense ratio.
Dividends
IIGIX vs. FAERX - Dividend Comparison
IIGIX's dividend yield for the trailing twelve months is around 11.13%, more than FAERX's 7.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAERX Fidelity Advisor Overseas Fund Class M | 7.94% | 7.94% | 0.96% | 0.51% | 0.12% | 2.07% | 0.00% | 1.15% | 4.25% | 3.35% | 0.80% | 0.09% |
IIGIX Voya Multi-Manager International Equity Fund | 11.13% | 12.54% | 1.82% | 1.78% | 1.21% | 22.96% | 4.10% | 1.95% | 5.88% | 2.26% | 1.84% | 2.30% |
Frequently Asked Questions
IIGIX and FAERX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIGIX has higher volatility (4.42%) compared to FAERX (0.00%). In terms of maximum drawdown, IIGIX dropped -37.67% vs FAERX's -60.14%.
IIGIX currently has the higher Sharpe Ratio (1.66 vs -0.33), 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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