NMIEX vs. FAOSX
NMIEX (Northern Active M International Equity Fund) and FAOSX (Fidelity Advisor Overseas Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 5 years, NMIEX returned 10.16%/yr vs 2.60%/yr for FAOSX. Their correlation of 0.88 means they have usually moved in the same direction. NMIEX charges 0.84%/yr vs 1.02%/yr for FAOSX.
Performance
NMIEX vs. FAOSX - Performance Comparison
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Returns By Period
NMIEX
- 1D
- 0.48%
- 1M
- 2.01%
- 6M
- 6.98%
- YTD
- 13.84%
- 1Y
- 25.78%
- 3Y*
- 19.04%
- 5Y*
- 10.16%
- 10Y*
- 10.74%
- ALL TIME*
- 5.85%
FAOSX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -1.76%
- 3Y*
- 9.01%
- 5Y*
- 2.60%
- 10Y*
- —
- ALL TIME*
- 8.09%
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 |
NMIEX vs. FAOSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NMIEX Northern Active M International Equity Fund | 13.84% | 34.98% | 4.43% | 20.82% | -17.17% | 14.41% | 11.70% | 22.93% | -13.76% | 24.47% |
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 NMIEX and FAOSX is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.88 |
Over the past year, the correlation between NMIEX and FAOSX has dropped to 0.33 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
NMIEX vs. FAOSX — Risk / Return Rank
NMIEX
FAOSX
NMIEX vs. FAOSX - 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 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.
| NMIEX | FAOSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.00 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | -0.04 | +2.17 |
| Martin ratioReturn relative to average drawdown | 8.04 | -0.06 | +8.11 |
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Drawdowns
NMIEX vs. FAOSX - Drawdown Comparison
The maximum NMIEX drawdown since its inception was -55.92%, which is greater than FAOSX's maximum drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for NMIEX and FAOSX.
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Drawdown Indicators
| NMIEX | FAOSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.92% | -36.24% | -19.68% |
Max Drawdown (1Y)Largest decline over 1 year | -12.08% | -7.26% | -4.82% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -13.96% | -0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -31.54% | -36.24% | +4.70% |
Max Drawdown (10Y)Largest decline over 10 years | -36.63% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.86% | +5.86% |
Average DrawdownAverage peak-to-trough decline | -12.79% | -7.90% | -4.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 4.51% | -1.33% |
Volatility
NMIEX vs. FAOSX - Volatility Comparison
Northern Active M International Equity Fund (NMIEX) has a higher volatility of 4.17% compared to Fidelity Advisor Overseas Fund Class Z (FAOSX) at 0.00%. This indicates that NMIEX'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
| NMIEX | FAOSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 0.00% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 13.81% | 0.00% | +13.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.75% | 7.53% | +8.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.48% | 16.65% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.74% | 16.56% | +0.18% |
NMIEX vs. FAOSX - Expense Ratio Comparison
NMIEX has a 0.84% expense ratio, which is lower than FAOSX's 1.02% expense ratio.
Dividends
NMIEX vs. FAOSX - Dividend Comparison
NMIEX's dividend yield for the trailing twelve months is around 9.17%, more than FAOSX's 8.67% yield.
| 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% |
NMIEX Northern Active M International Equity Fund | 9.17% | 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 FAOSX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NMIEX has higher volatility (4.17%) compared to FAOSX (0.00%). In terms of maximum drawdown, NMIEX dropped -55.92% vs FAOSX's -36.24%.
NMIEX currently has the higher Sharpe Ratio (1.64 vs -0.04), 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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