NMIEX vs. FAOIX
NMIEX (Northern Active M International Equity Fund) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 10 years, NMIEX returned 10.63%/yr vs 7.83%/yr for FAOIX. Their correlation of 0.92 suggests significant overlap in exposure. NMIEX charges 0.84%/yr vs 1.12%/yr for FAOIX.
Performance
NMIEX vs. FAOIX - Performance Comparison
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Returns By Period
Over the past 10 years, NMIEX has outperformed FAOIX with an annualized return of 10.63%, while FAOIX has yielded a comparatively lower 7.83% annualized return.
NMIEX
- 1D
- 0.35%
- 1M
- -0.90%
- 6M
- 6.95%
- YTD
- 10.75%
- 1Y
- 21.61%
- 3Y*
- 17.26%
- 5Y*
- 10.00%
- 10Y*
- 10.63%
FAOIX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -1.92%
- 3Y*
- 7.67%
- 5Y*
- 3.14%
- 10Y*
- 7.83%
NMIEX vs. FAOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMIEX Northern Active M International Equity Fund | 10.75% | 34.98% | 4.43% | 20.82% | -17.17% | 14.41% | 11.70% | 22.93% | -13.76% | 29.06% |
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 NMIEX and FAOIX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2006 | 0.92 |
Over the past year, the correlation between NMIEX and FAOIX has dropped to 0.38 - well below their long-term average of 0.92, suggesting their price drivers have been diverging.
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Return for Risk
NMIEX vs. FAOIX — Risk / Return Rank
NMIEX
FAOIX
NMIEX vs. FAOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Active M International Equity Fund (NMIEX) 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.
| NMIEX | FAOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.91 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | -0.47 | +2.21 |
| Martin ratioReturn relative to average drawdown | 6.57 | -0.74 | +7.31 |
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Drawdowns
NMIEX vs. FAOIX - Drawdown Comparison
The maximum NMIEX drawdown since its inception was -55.92%, smaller than the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for NMIEX and FAOIX.
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Drawdown Indicators
| NMIEX | FAOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.92% | -59.86% | +3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.08% | -7.28% | -4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -13.98% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -31.54% | -36.33% | +4.79% |
Max Drawdown (10Y)Largest decline over 10 years | -36.63% | -36.33% | -0.30% |
Current DrawdownCurrent decline from peak | -2.05% | -5.85% | +3.80% |
Average DrawdownAverage peak-to-trough decline | -12.82% | -14.18% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 4.31% | -1.13% |
Volatility
NMIEX vs. FAOIX - Volatility Comparison
Northern Active M International Equity Fund (NMIEX) has a higher volatility of 4.14% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that NMIEX'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
| NMIEX | FAOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 0.00% | +4.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.70% | 2.61% | +11.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.62% | 8.28% | +7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.48% | 16.71% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.72% | 16.30% | +0.42% |
NMIEX vs. FAOIX - Expense Ratio Comparison
NMIEX has a 0.84% expense ratio, which is lower than FAOIX's 1.12% expense ratio.
Dividends
NMIEX vs. FAOIX - Dividend Comparison
NMIEX's dividend yield for the trailing twelve months is around 9.42%, more 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% |
NMIEX Northern Active M International Equity Fund | 9.42% | 10.43% | 14.92% | 6.95% | 1.53% | 10.42% | 0.80% | 5.83% | 6.65% | 1.34% | 1.73% | 0.75% |
Frequently Asked Questions
NMIEX and FAOIX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMIEX has higher volatility (4.14%) compared to FAOIX (0.00%). In terms of maximum drawdown, NMIEX dropped -55.92% vs FAOIX's -59.86%.
NMIEX currently has the higher Sharpe Ratio (1.35 vs -0.41), 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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