MSILX vs. FAERX
MSILX (iMGP International Fund) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds. Over the past 10 years, MSILX returned 6.97%/yr vs 7.12%/yr for FAERX. Their correlation of 0.86 means they have usually moved in the same direction. MSILX charges 1.05%/yr vs 1.65%/yr for FAERX.
Performance
MSILX vs. FAERX - Performance Comparison
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Returns By Period
Both investments have delivered pretty close results over the past 10 years, with MSILX having a 6.97% annualized return and FAERX not far ahead at 7.12%.
MSILX
- 1D
- 2.79%
- 1M
- -0.91%
- 6M
- 3.37%
- YTD
- 7.93%
- 1Y
- 19.77%
- 3Y*
- 11.59%
- 5Y*
- 5.90%
- 10Y*
- 6.97%
- ALL TIME*
- 7.06%
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 |
MSILX vs. FAERX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSILX iMGP International Fund | 7.93% | 30.20% | -0.58% | 17.41% | -21.57% | 11.82% | 5.03% | 29.53% | -20.24% | 23.62% |
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 MSILX and FAERX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 1997 | 0.86 |
Over the past year, the correlation between MSILX and FAERX has dropped to 0.39 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.
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Return for Risk
MSILX vs. FAERX — Risk / Return Rank
MSILX
FAERX
MSILX vs. FAERX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP International Fund (MSILX) 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.
| MSILX | FAERX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.93 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.35 | +1.71 |
| Martin ratioReturn relative to average drawdown | 4.94 | -0.53 | +5.47 |
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Drawdowns
MSILX vs. FAERX - Drawdown Comparison
The maximum MSILX drawdown since its inception was -60.45%, roughly equal to the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for MSILX and FAERX.
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Drawdown Indicators
| MSILX | FAERX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -60.14% | -0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -7.29% | -5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -15.73% | -14.00% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -34.92% | -36.62% | +1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | -36.62% | -8.61% |
Current DrawdownCurrent decline from peak | -1.44% | -5.89% | +4.45% |
Average DrawdownAverage peak-to-trough decline | -15.72% | -14.34% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 4.51% | -1.03% |
Volatility
MSILX vs. FAERX - Volatility Comparison
iMGP International Fund (MSILX) has a higher volatility of 5.04% compared to Fidelity Advisor Overseas Fund Class M (FAERX) at 0.00%. This indicates that MSILX'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
| MSILX | FAERX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 0.00% | +5.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 0.00% | +13.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 7.69% | +8.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 16.66% | +1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.10% | 16.28% | +2.82% |
MSILX vs. FAERX - Expense Ratio Comparison
MSILX has a 1.05% expense ratio, which is lower than FAERX's 1.65% expense ratio.
Dividends
MSILX vs. FAERX - Dividend Comparison
MSILX's dividend yield for the trailing twelve months is around 1.44%, less 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% |
MSILX iMGP International Fund | 1.44% | 1.55% | 1.24% | 1.01% | 0.88% | 3.70% | 2.23% | 2.99% | 0.74% | 2.94% | 4.15% | 1.68% |
Frequently Asked Questions
MSILX and FAERX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSILX has higher volatility (5.04%) compared to FAERX (0.00%). In terms of maximum drawdown, MSILX dropped -60.45% vs FAERX's -60.14%.
MSILX currently has the higher Sharpe Ratio (1.08 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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