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 7.61%/yr vs 7.58%/yr for FAOIX. Their correlation of 0.86 suggests significant overlap in exposure. MSILX charges 1.05%/yr vs 1.12%/yr for FAOIX.
Performance
MSILX vs. FAOIX - 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 7.61% annualized return and FAOIX not far behind at 7.58%.
MSILX
- 1D
- -0.54%
- 1M
- 1.49%
- YTD
- 7.39%
- 6M
- 7.20%
- 1Y
- 20.06%
- 3Y*
- 13.11%
- 5Y*
- 5.47%
- 10Y*
- 7.61%
FAOIX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- -0.58%
- 3Y*
- 7.90%
- 5Y*
- 3.78%
- 10Y*
- 7.58%
MSILX vs. FAOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSILX iMGP International Fund | 7.39% | 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 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 0.44 - 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 | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.00 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | -0.06 | +1.68 |
| Martin ratioReturn relative to average drawdown | 5.93 | -0.10 | +6.04 |
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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 | -16.51% | -13.98% | -2.53% |
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 | -1.53% | -5.85% | +4.32% |
Average DrawdownAverage peak-to-trough decline | -15.77% | -14.19% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 4.13% | -0.68% |
Volatility
MSILX vs. FAOIX - Volatility Comparison
iMGP International Fund (MSILX) has a higher volatility of 4.82% 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 | 4.82% | 0.00% | +4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 12.92% | 3.63% | +9.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.49% | 8.78% | +6.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.16% | 16.72% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.36% | 16.65% | +2.71% |
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 1.45%, 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 | 1.45% | 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 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSILX has higher volatility (4.82%) 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 (1.33 vs -0.05), 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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