KGIIX vs. FAOSX

Last updated Jun 5, 2026

KGIIX (Kopernik International Fund) and FAOSX (Fidelity Advisor Overseas Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 5 years, KGIIX returned 8.49%/yr vs 3.61%/yr for FAOSX. At a 0.50 correlation, their price movements are largely independent. KGIIX charges 1.04%/yr vs 1.02%/yr for FAOSX.

Performance

KGIIX vs. FAOSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kopernik International Fund (KGIIX) and Fidelity Advisor Overseas Fund Class Z (FAOSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KGIIX

• 1D: -0.69%
• 1M: -1.93%
• YTD: 9.06%
• 6M: 11.56%
• 1Y: 35.42%
• 3Y*: 18.65%
• 5Y*: 8.49%
• 10Y*: 10.07%

FAOSX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -2.15%
• 3Y*: 8.88%
• 5Y*: 3.61%
• 10Y*: —

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

KGIIX vs. FAOSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KGIIX Kopernik International Fund	9.06%	54.97%	-7.01%	13.86%	-14.05%	16.62%	18.94%	16.37%	-6.24%	5.55%
FAOSX Fidelity Advisor Overseas Fund Class Z	0.00%	15.36%	5.06%	20.52%	-24.31%	19.42%	15.17%	27.96%	-14.73%	26.25%

Correlation

The correlation between KGIIX and FAOSX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.50

Over the past year, the correlation between KGIIX and FAOSX has dropped to 0.28 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

KGIIX vs. FAOSX — Risk / Return Rank

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

KGIIX

KGIIX Risk / Return Rank: 79
KGIIX Sharpe Ratio Rank: 86
KGIIX Sortino Ratio Rank: 74
KGIIX Omega Ratio Rank: 77
KGIIX Calmar Ratio Rank: 87
KGIIX Martin Ratio Rank: 70

FAOSX

FAOSX Risk / Return Rank: 2
FAOSX Sharpe Ratio Rank: 2
FAOSX Sortino Ratio Rank: 2
FAOSX Omega Ratio Rank: 2
FAOSX Calmar Ratio Rank: 2
FAOSX Martin Ratio Rank: 2

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.

KGIIX vs. FAOSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kopernik International Fund (KGIIX) and Fidelity Advisor Overseas Fund Class Z (FAOSX). 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.

	KGIIX	FAOSX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	-0.20	+3.02
Sortino ratio: Return per unit of downside risk	3.59	-0.22	+3.81
Omega ratio: Gain probability vs. loss probability	1.51	0.97	+0.54
Calmar ratio: Return relative to maximum drawdown	4.18	-0.26	+4.43
Martin ratio: Return relative to average drawdown	13.27	-0.44	+13.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KGIIX vs. FAOSX - Sharpe Ratio Comparison

The current KGIIX Sharpe Ratio is 2.82, which is higher than the FAOSX Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of KGIIX and FAOSX, 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

	KGIIX	FAOSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	-0.20	+3.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.22	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.50	+0.43

Drawdowns

KGIIX vs. FAOSX - Drawdown Comparison

The maximum KGIIX drawdown since its inception was -27.81%, smaller than the maximum FAOSX drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for KGIIX and FAOSX.

Drawdown Indicators

	KGIIX	FAOSX	Difference
Max Drawdown Largest peak-to-trough decline	-27.81%	-36.24%	+8.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-7.26%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-13.96%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	-27.81%	-36.24%	+8.43%
Max Drawdown (10Y) Largest decline over 10 years	-27.81%	—	—
Current Drawdown Current decline from peak	-4.91%	-5.86%	+0.95%
Average Drawdown Average peak-to-trough decline	-6.11%	-7.93%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.98%	-1.23%

Volatility

KGIIX vs. FAOSX - Volatility Comparison

Kopernik International Fund (KGIIX) has a higher volatility of 3.05% compared to Fidelity Advisor Overseas Fund Class Z (FAOSX) at 0.00%. This indicates that KGIIX's price experiences larger fluctuations and is considered to be riskier than FAOSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KGIIX	FAOSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	0.00%	+3.05%
Volatility (6M) Calculated over the trailing 6-month period	10.26%	3.98%	+6.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.98%	9.14%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	16.71%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	16.68%	-4.04%

KGIIX vs. FAOSX - Expense Ratio Comparison

KGIIX has a 1.04% expense ratio, which is higher than FAOSX's 1.02% expense ratio.

Dividends

KGIIX vs. FAOSX - Dividend Comparison

KGIIX's dividend yield for the trailing twelve months is around 13.08%, more than FAOSX's 8.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FAOSX Fidelity Advisor Overseas Fund Class Z	8.67%	8.67%	1.80%	1.12%	0.85%	2.07%	0.00%	1.70%	5.30%	3.93%	0.00%
KGIIX Kopernik International Fund	13.08%	14.26%	0.48%	12.56%	2.46%	5.77%	2.89%	2.50%	1.19%	1.35%	0.33%

Frequently Asked Questions

Can I hold both KGIIX and FAOSX in my portfolio?

KGIIX and FAOSX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KGIIX or FAOSX?

KGIIX has higher volatility (3.05%) compared to FAOSX (0.00%). In terms of maximum drawdown, KGIIX dropped -27.81% vs FAOSX's -36.24%.

Which has better risk-adjusted returns?

KGIIX currently has the higher Sharpe Ratio (2.82 vs -0.20), 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.