MIOIX vs. FAOCX
MIOIX (Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio) and FAOCX (Fidelity Advisor Overseas Fund Class C) are both Foreign Large Cap Equities funds. Over the past 10 years, MIOIX returned 10.52%/yr vs 7.17%/yr for FAOCX. A 0.79 correlation means they provide meaningful diversification when combined. MIOIX charges 1.00%/yr vs 2.25%/yr for FAOCX.
Performance
MIOIX vs. FAOCX - Performance Comparison
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Returns By Period
Over the past 10 years, MIOIX has outperformed FAOCX with an annualized return of 10.52%, while FAOCX has yielded a comparatively lower 7.17% annualized return.
MIOIX
- 1D
- 1.46%
- 1M
- 0.77%
- YTD
- 5.56%
- 6M
- 4.91%
- 1Y
- 3.00%
- 3Y*
- 13.27%
- 5Y*
- -2.94%
- 10Y*
- 10.52%
FAOCX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -2.03%
- 3Y*
- 8.24%
- 5Y*
- 2.35%
- 10Y*
- 7.17%
MIOIX vs. FAOCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio | 5.56% | 12.64% | 19.32% | 21.11% | -43.76% | -5.25% | 55.49% | 35.20% | -12.03% | 53.41% |
FAOCX Fidelity Advisor Overseas Fund Class C | 0.00% | 14.19% | 3.86% | 19.03% | -25.22% | 17.97% | 13.77% | 26.37% | -15.77% | 28.58% |
Correlation
The correlation between MIOIX and FAOCX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2010 | 0.79 |
Over the past year, the correlation between MIOIX and FAOCX has dropped to 0.43 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
MIOIX vs. FAOCX — Risk / Return Rank
MIOIX
FAOCX
MIOIX vs. FAOCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) and Fidelity Advisor Overseas Fund Class C (FAOCX). 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.
| MIOIX | FAOCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.94 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.37 | +0.51 |
| Martin ratioReturn relative to average drawdown | 0.44 | -0.60 | +1.04 |
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Drawdowns
MIOIX vs. FAOCX - Drawdown Comparison
The maximum MIOIX drawdown since its inception was -60.88%, roughly equal to the maximum FAOCX drawdown of -60.45%. Use the drawdown chart below to compare losses from any high point for MIOIX and FAOCX.
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Drawdown Indicators
| MIOIX | FAOCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.88% | -60.45% | -0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -7.33% | -11.17% |
Max Drawdown (3Y)Largest decline over 3 years | -19.42% | -14.05% | -5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -56.75% | -36.96% | -19.79% |
Max Drawdown (10Y)Largest decline over 10 years | -60.88% | -36.96% | -23.92% |
Current DrawdownCurrent decline from peak | -22.47% | -5.90% | -16.57% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -15.61% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 4.21% | +1.79% |
Volatility
MIOIX vs. FAOCX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) has a higher volatility of 11.48% compared to Fidelity Advisor Overseas Fund Class C (FAOCX) at 0.00%. This indicates that MIOIX's price experiences larger fluctuations and is considered to be riskier than FAOCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIOIX | FAOCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.48% | 0.00% | +11.48% |
Volatility (6M)Calculated over the trailing 6-month period | 19.57% | 3.52% | +16.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.09% | 8.70% | +13.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.47% | 16.71% | +8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.27% | 16.37% | +5.90% |
MIOIX vs. FAOCX - Expense Ratio Comparison
MIOIX has a 1.00% expense ratio, which is lower than FAOCX's 2.25% expense ratio.
Dividends
MIOIX vs. FAOCX - Dividend Comparison
MIOIX has not paid dividends to shareholders, while FAOCX's dividend yield for the trailing twelve months is around 8.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAOCX Fidelity Advisor Overseas Fund Class C | 8.26% | 8.26% | 0.40% | 0.00% | 0.00% | 2.22% | 0.00% | 0.51% | 3.72% | 3.07% | 0.12% | 0.00% |
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio | 0.00% | 0.00% | 0.16% | 0.00% | 9.25% | 2.13% | 0.24% | 0.00% | 0.24% | 1.63% | 0.02% | 3.15% |
Frequently Asked Questions
MIOIX and FAOCX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIOIX has higher volatility (11.48%) compared to FAOCX (0.00%). In terms of maximum drawdown, MIOIX dropped -60.88% vs FAOCX's -60.45%.
MIOIX currently has the higher Sharpe Ratio (0.12 vs -0.31), 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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