MIOIX vs. FAOSX
MIOIX (Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio) and FAOSX (Fidelity Advisor Overseas Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 5 years, MIOIX returned -2.94%/yr vs 3.43%/yr for FAOSX. A 0.77 correlation means they provide meaningful diversification when combined. MIOIX charges 1.00%/yr vs 1.02%/yr for FAOSX.
Performance
MIOIX vs. FAOSX - Performance Comparison
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Returns By Period
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%
FAOSX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -1.58%
- 3Y*
- 9.26%
- 5Y*
- 3.43%
- 10Y*
- —
MIOIX vs. FAOSX - 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% | 45.61% |
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 MIOIX and FAOSX 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 (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.77 |
Over the past year, the correlation between MIOIX and FAOSX has dropped to 0.43 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
MIOIX vs. FAOSX — Risk / Return Rank
MIOIX
FAOSX
MIOIX vs. FAOSX - 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 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.
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 | FAOSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.95 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | -0.30 | +0.44 |
| Martin ratioReturn relative to average drawdown | 0.44 | -0.49 | +0.93 |
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Drawdowns
MIOIX vs. FAOSX - Drawdown Comparison
The maximum MIOIX drawdown since its inception was -60.88%, which is greater than FAOSX's maximum drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for MIOIX and FAOSX.
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Drawdown Indicators
| MIOIX | FAOSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.88% | -36.24% | -24.64% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -7.26% | -11.24% |
Max Drawdown (3Y)Largest decline over 3 years | -19.42% | -13.96% | -5.46% |
Max Drawdown (5Y)Largest decline over 5 years | -56.75% | -36.24% | -20.51% |
Max Drawdown (10Y)Largest decline over 10 years | -60.88% | — | — |
Current DrawdownCurrent decline from peak | -22.47% | -5.86% | -16.61% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -7.92% | -7.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 4.17% | +1.83% |
Volatility
MIOIX vs. FAOSX - 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 Z (FAOSX) at 0.00%. This indicates that MIOIX'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.
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Volatility by Period
| MIOIX | FAOSX | 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% | 3.51% | +16.06% |
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% | 16.70% | +8.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.27% | 16.63% | +5.64% |
MIOIX vs. FAOSX - Expense Ratio Comparison
MIOIX has a 1.00% expense ratio, which is lower than FAOSX's 1.02% expense ratio.
Dividends
MIOIX vs. FAOSX - Dividend Comparison
MIOIX has not paid dividends to shareholders, while FAOSX's dividend yield for the trailing twelve months is around 8.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 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 FAOSX 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 FAOSX (0.00%). In terms of maximum drawdown, MIOIX dropped -60.88% vs FAOSX's -36.24%.
MIOIX currently has the higher Sharpe Ratio (0.12 vs -0.25), 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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