IIGIX vs. FAOIX
IIGIX (Voya Multi-Manager International Equity Fund) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 10 years, IIGIX returned 8.58%/yr vs 7.58%/yr for FAOIX. Their correlation of 0.91 suggests significant overlap in exposure. IIGIX charges 0.95%/yr vs 1.12%/yr for FAOIX.
Performance
IIGIX vs. FAOIX - Performance Comparison
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Returns By Period
Over the past 10 years, IIGIX has outperformed FAOIX with an annualized return of 8.58%, while FAOIX has yielded a comparatively lower 7.58% annualized return.
IIGIX
- 1D
- 0.15%
- 1M
- 1.65%
- YTD
- 12.29%
- 6M
- 12.20%
- 1Y
- 24.13%
- 3Y*
- 16.57%
- 5Y*
- 5.93%
- 10Y*
- 8.58%
FAOIX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -0.58%
- 3Y*
- 7.90%
- 5Y*
- 3.78%
- 10Y*
- 7.58%
IIGIX vs. FAOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIGIX Voya Multi-Manager International Equity Fund | 12.29% | 27.55% | 4.31% | 14.65% | -21.82% | 6.91% | 15.46% | 23.66% | -15.79% | 25.24% |
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 IIGIX and FAOIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
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 FAOIX has dropped to 0.42 - 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. FAOIX — Risk / Return Rank
IIGIX
FAOIX
IIGIX vs. FAOIX - 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 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.
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 | FAOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.00 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | -0.06 | +2.55 |
| Martin ratioReturn relative to average drawdown | 9.26 | -0.10 | +9.37 |
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Drawdowns
IIGIX vs. FAOIX - Drawdown Comparison
The maximum IIGIX drawdown since its inception was -37.67%, smaller than the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for IIGIX and FAOIX.
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Drawdown Indicators
| IIGIX | FAOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.67% | -59.86% | +22.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.69% | -7.28% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -13.21% | -13.98% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -35.88% | -36.33% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | -36.33% | -1.34% |
Current DrawdownCurrent decline from peak | -0.84% | -5.85% | +5.01% |
Average DrawdownAverage peak-to-trough decline | -8.95% | -14.19% | +5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 4.13% | -1.38% |
Volatility
IIGIX vs. FAOIX - Volatility Comparison
Voya Multi-Manager International Equity Fund (IIGIX) has a higher volatility of 5.13% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that IIGIX'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.
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Volatility by Period
| IIGIX | FAOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 0.00% | +5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 11.82% | 3.63% | +8.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.54% | 8.78% | +5.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.66% | 16.72% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 16.65% | +0.53% |
IIGIX vs. FAOIX - Expense Ratio Comparison
IIGIX has a 0.95% expense ratio, which is lower than FAOIX's 1.12% expense ratio.
Dividends
IIGIX vs. FAOIX - Dividend Comparison
IIGIX's dividend yield for the trailing twelve months is around 11.17%, 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% |
IIGIX Voya Multi-Manager International Equity Fund | 11.17% | 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 FAOIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIGIX has higher volatility (5.13%) compared to FAOIX (0.00%). In terms of maximum drawdown, IIGIX dropped -37.67% vs FAOIX's -59.86%.
IIGIX currently has the higher Sharpe Ratio (1.83 vs -0.05), 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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