MSILX vs. FAOIX
MSILX (iMGP International Fund) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 10 years, MSILX returned 6.97%/yr vs 7.63%/yr for FAOIX. Their correlation of 0.86 means they have usually moved in the same direction. MSILX charges 1.05%/yr vs 1.12%/yr for FAOIX.
Performance
MSILX vs. FAOIX - Performance Comparison
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Returns By Period
Over the past 10 years, MSILX has underperformed FAOIX with an annualized return of 6.97%, while FAOIX has yielded a comparatively higher 7.63% annualized return.
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%
FAOIX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.26%
- 3Y*
- 7.86%
- 5Y*
- 2.74%
- 10Y*
- 7.63%
- ALL TIME*
- 5.75%
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. FAOIX - 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% |
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 MSILX and FAOIX 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. | 0.69 |
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 FAOIX 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. FAOIX — Risk / Return Rank
MSILX
FAOIX
MSILX vs. FAOIX - 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 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.
| MSILX | FAOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.93 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.32 | +1.68 |
| Martin ratioReturn relative to average drawdown | 4.94 | -0.49 | +5.43 |
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Drawdowns
MSILX vs. FAOIX - Drawdown Comparison
The maximum MSILX drawdown since its inception was -60.45%, roughly equal to the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for MSILX and FAOIX.
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Drawdown Indicators
| MSILX | FAOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -59.86% | -0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -7.28% | -5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.73% | -13.98% | -1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -34.92% | -36.33% | +1.41% |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | -36.33% | -8.90% |
Current DrawdownCurrent decline from peak | -1.44% | -5.85% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -15.72% | -14.17% | -1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 4.48% | -1.00% |
Volatility
MSILX vs. FAOIX - Volatility Comparison
iMGP International Fund (MSILX) has a higher volatility of 5.04% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that MSILX'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
| MSILX | FAOIX | 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% | 16.67% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.10% | 16.29% | +2.81% |
MSILX vs. FAOIX - Expense Ratio Comparison
MSILX has a 1.05% expense ratio, which is lower than FAOIX's 1.12% expense ratio.
Dividends
MSILX vs. FAOIX - Dividend Comparison
MSILX's dividend yield for the trailing twelve months is around 1.44%, less 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% |
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 FAOIX 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 FAOIX (0.00%). In terms of maximum drawdown, MSILX dropped -60.45% vs FAOIX's -59.86%.
MSILX currently has the higher Sharpe Ratio (1.08 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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