ODVYX vs. FEDTX

Last updated Aug 1, 2026

ODVYX (Invesco Developing Markets Fund Class Y) and FEDTX (Fidelity Advisor Emerging Markets Discovery Fund Class M) are both Emerging Markets Equities funds. Over the past 10 years, ODVYX returned 7.00%/yr vs 9.33%/yr for FEDTX. Their correlation of 0.84 means they have usually moved in the same direction. ODVYX charges 1.05%/yr vs 1.76%/yr for FEDTX.

Performance

ODVYX vs. FEDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Developing Markets Fund Class Y (ODVYX) and Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ODVYX achieves a 15.52% return, which is significantly lower than FEDTX's 17.79% return. Over the past 10 years, ODVYX has underperformed FEDTX with an annualized return of 7.00%, while FEDTX has yielded a comparatively higher 9.33% annualized return.

ODVYX

• 1D: 3.17%
• 1M: 1.49%
• 6M: 7.21%
• YTD: 15.52%
• 1Y: 35.66%
• 3Y*: 11.98%
• 5Y*: 3.08%
• 10Y*: 7.00%
• ALL TIME*: 7.68%

FEDTX

• 1D: 2.75%
• 1M: -0.97%
• 6M: 8.45%
• YTD: 17.79%
• 1Y: 33.33%
• 3Y*: 14.85%
• 5Y*: 8.18%
• 10Y*: 9.33%
• ALL TIME*: 7.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M	$0.00	$0.00	$0.00
ODVYX Invesco Developing Markets Fund Class Y	$0.00	$0.00	$0.00

ODVYX vs. FEDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ODVYX Invesco Developing Markets Fund Class Y	15.52%	28.63%	-1.12%	11.40%	-24.97%	-7.29%	17.50%	24.35%	-11.93%	35.10%
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M	17.79%	31.19%	-4.16%	20.12%	-12.35%	6.05%	16.31%	18.91%	-19.40%	36.42%

Correlation

The correlation between ODVYX and FEDTX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Nov 2, 2011	0.84

The correlation between ODVYX and FEDTX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

ODVYX vs. FEDTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ODVYX

ODVYX Risk / Return Rank: 69
ODVYX Sharpe Ratio Rank: 70
ODVYX Sortino Ratio Rank: 63
ODVYX Omega Ratio Rank: 70
ODVYX Calmar Ratio Rank: 80
ODVYX Martin Ratio Rank: 61

FEDTX

FEDTX Risk / Return Rank: 84
FEDTX Sharpe Ratio Rank: 85
FEDTX Sortino Ratio Rank: 80
FEDTX Omega Ratio Rank: 81
FEDTX Calmar Ratio Rank: 89
FEDTX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ODVYX vs. FEDTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Developing Markets Fund Class Y (ODVYX) and Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX). 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.

	ODVYX	FEDTX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.10	-0.39
Sortino ratio: Return per unit of downside risk	2.30	2.80	-0.50
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	2.75	3.28	-0.54
Martin ratio: Return relative to average drawdown	8.29	11.13	-2.84

ODVYX vs. FEDTX - Sharpe Ratio Comparison

The current ODVYX Sharpe Ratio is 1.71, which is comparable to the FEDTX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of ODVYX and FEDTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ODVYX vs. FEDTX - Drawdown Comparison

The maximum ODVYX drawdown since its inception was -61.49%, which is greater than FEDTX's maximum drawdown of -43.70%. Use the drawdown chart below to compare losses from any high point for ODVYX and FEDTX.

Drawdown Indicators

	ODVYX	FEDTX	Difference
Max Drawdown Largest peak-to-trough decline	-61.49%	-43.70%	-17.79%
Max Drawdown (1Y) Largest decline over 1 year	-12.07%	-9.62%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-18.17%	-17.51%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-41.51%	-27.91%	-13.60%
Max Drawdown (10Y) Largest decline over 10 years	-46.02%	-43.70%	-2.32%
Current Drawdown Current decline from peak	-6.77%	-3.48%	-3.29%
Average Drawdown Average peak-to-trough decline	-14.48%	-9.10%	-5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	2.84%	+1.15%

Volatility

ODVYX vs. FEDTX - Volatility Comparison

Invesco Developing Markets Fund Class Y (ODVYX) has a higher volatility of 6.56% compared to Fidelity Advisor Emerging Markets Discovery Fund Class M (FEDTX) at 5.56%. This indicates that ODVYX's price experiences larger fluctuations and is considered to be riskier than FEDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ODVYX	FEDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	5.56%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	17.00%	13.11%	+3.89%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	15.06%	+4.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	14.41%	+3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	15.81%	+2.27%

ODVYX vs. FEDTX - Expense Ratio Comparison

ODVYX has a 1.05% expense ratio, which is lower than FEDTX's 1.76% expense ratio.

Dividends

ODVYX vs. FEDTX - Dividend Comparison

ODVYX's dividend yield for the trailing twelve months is around 37.31%, more than FEDTX's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEDTX Fidelity Advisor Emerging Markets Discovery Fund Class M	3.66%	4.31%	3.30%	1.63%	1.10%	11.36%	0.05%	0.48%	0.87%	1.51%	0.95%	0.22%
ODVYX Invesco Developing Markets Fund Class Y	37.31%	43.10%	0.26%	0.81%	0.94%	5.40%	0.22%	2.43%	0.62%	0.57%	0.52%	0.75%

Frequently Asked Questions

Can I hold both ODVYX and FEDTX in my portfolio?

ODVYX and FEDTX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ODVYX or FEDTX?

ODVYX has higher volatility (6.56%) compared to FEDTX (5.56%). In terms of maximum drawdown, ODVYX dropped -61.49% vs FEDTX's -43.70%.

Which has better risk-adjusted returns?

FEDTX currently has the higher Sharpe Ratio (2.10 vs 1.71), 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.