PEAFX vs. FGKPX

Last updated Jun 4, 2026

PEAFX (PIMCO RAE Emerging Markets Fund Class A) and FGKPX (Fidelity SAI Emerging Markets Low Volatility Index Fund) are both Emerging Markets Equities funds. Over the past 5 years, PEAFX returned 8.10%/yr vs 7.24%/yr for FGKPX. Their correlation of 0.84 suggests significant overlap in exposure. PEAFX charges 1.10%/yr vs 0.23%/yr for FGKPX.

Performance

PEAFX vs. FGKPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAE Emerging Markets Fund Class A (PEAFX) and Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PEAFX having a 18.16% return and FGKPX slightly lower at 17.87%.

PEAFX

• 1D: 0.82%
• 1M: 2.95%
• YTD: 18.16%
• 6M: 14.06%
• 1Y: 30.79%
• 3Y*: 17.61%
• 5Y*: 8.10%
• 10Y*: 11.41%

FGKPX

• 1D: 0.22%
• 1M: 9.16%
• YTD: 17.87%
• 6M: 18.21%
• 1Y: 25.72%
• 3Y*: 15.19%
• 5Y*: 7.24%
• 10Y*: —

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

PEAFX vs. FGKPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PEAFX PIMCO RAE Emerging Markets Fund Class A	18.16%	20.25%	1.14%	22.28%	-10.71%	15.47%	6.43%	6.47%
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund	17.87%	12.56%	5.96%	15.28%	-12.98%	10.75%	5.22%	3.48%

Correlation

The correlation between PEAFX and FGKPX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019	0.84

The correlation between PEAFX and FGKPX shifts across timeframes, from 0.73 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEAFX vs. FGKPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEAFX

PEAFX Risk / Return Rank: 56
PEAFX Sharpe Ratio Rank: 59
PEAFX Sortino Ratio Rank: 47
PEAFX Omega Ratio Rank: 57
PEAFX Calmar Ratio Rank: 68
PEAFX Martin Ratio Rank: 52

FGKPX

FGKPX Risk / Return Rank: 79
FGKPX Sharpe Ratio Rank: 85
FGKPX Sortino Ratio Rank: 84
FGKPX Omega Ratio Rank: 82
FGKPX Calmar Ratio Rank: 82
FGKPX Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PEAFX vs. FGKPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAE Emerging Markets Fund Class A (PEAFX) and Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX). 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.

	PEAFX	FGKPX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.74	-0.48
Sortino ratio: Return per unit of downside risk	2.88	3.95	-1.07
Omega ratio: Gain probability vs. loss probability	1.42	1.54	-0.12
Calmar ratio: Return relative to maximum drawdown	3.19	3.81	-0.62
Martin ratio: Return relative to average drawdown	10.66	12.58	-1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEAFX vs. FGKPX - Sharpe Ratio Comparison

The current PEAFX Sharpe Ratio is 2.26, which is comparable to the FGKPX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of PEAFX and FGKPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEAFX	FGKPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.74	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.71	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.60	+0.10

Drawdowns

PEAFX vs. FGKPX - Drawdown Comparison

The maximum PEAFX drawdown since its inception was -47.18%, which is greater than FGKPX's maximum drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for PEAFX and FGKPX.

Drawdown Indicators

	PEAFX	FGKPX	Difference
Max Drawdown Largest peak-to-trough decline	-47.18%	-32.05%	-15.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.98%	-6.93%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.22%	-12.67%	-9.55%
Max Drawdown (5Y) Largest decline over 5 years	-28.57%	-20.69%	-7.88%
Max Drawdown (10Y) Largest decline over 10 years	-47.18%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.17%	-5.31%	-4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.09%	+0.88%

Volatility

PEAFX vs. FGKPX - Volatility Comparison

PIMCO RAE Emerging Markets Fund Class A (PEAFX) has a higher volatility of 4.63% compared to Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) at 4.09%. This indicates that PEAFX's price experiences larger fluctuations and is considered to be riskier than FGKPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEAFX	FGKPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	4.09%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	8.13%	+3.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	9.64%	+4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	10.23%	+4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.13%	12.51%	+4.62%

PEAFX vs. FGKPX - Expense Ratio Comparison

PEAFX has a 1.10% expense ratio, which is higher than FGKPX's 0.23% expense ratio.

Dividends

PEAFX vs. FGKPX - Dividend Comparison

PEAFX's dividend yield for the trailing twelve months is around 2.52%, less than FGKPX's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund	6.57%	7.75%	5.07%	2.91%	1.88%	2.30%	1.77%	1.88%	0.00%	0.00%	0.00%
PEAFX PIMCO RAE Emerging Markets Fund Class A	2.52%	2.97%	1.01%	4.01%	11.33%	9.19%	7.05%	2.48%	11.05%	8.07%	2.59%

Frequently Asked Questions

Can I hold both PEAFX and FGKPX in my portfolio?

PEAFX and FGKPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEAFX or FGKPX?

PEAFX has higher volatility (4.63%) compared to FGKPX (4.09%). In terms of maximum drawdown, PEAFX dropped -47.18% vs FGKPX's -32.05%.

Which has better risk-adjusted returns?

FGKPX currently has the higher Sharpe Ratio (2.74 vs 2.26), 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.