PEAFX vs. FHKFX
PEAFX (PIMCO RAE Emerging Markets Fund Class A) and FHKFX (Fidelity Series Emerging Markets Fund) are both Emerging Markets Equities funds. Over the past 5 years, PEAFX returned 7.84%/yr vs 7.54%/yr for FHKFX. Their correlation of 0.82 means they have usually moved in the same direction. PEAFX charges 1.10%/yr vs 0.01%/yr for FHKFX.
Performance
PEAFX vs. FHKFX - Performance Comparison
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Returns By Period
In the year-to-date period, PEAFX achieves a 11.38% return, which is significantly lower than FHKFX's 20.27% return.
PEAFX
- 1D
- 2.23%
- 1M
- 2.64%
- 6M
- 1.34%
- YTD
- 11.38%
- 1Y
- 19.17%
- 3Y*
- 11.69%
- 5Y*
- 7.84%
- 10Y*
- 9.35%
- ALL TIME*
- 11.46%
FHKFX
- 1D
- 4.05%
- 1M
- -3.49%
- 6M
- 8.95%
- YTD
- 20.27%
- 1Y
- 41.07%
- 3Y*
- 20.31%
- 5Y*
- 7.54%
- 10Y*
- —
- ALL TIME*
- 6.80%
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 |
PEAFX vs. FHKFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PEAFX PIMCO RAE Emerging Markets Fund Class A | 11.38% | 20.25% | 1.14% | 22.28% | -10.71% | 15.47% | 6.43% | 13.30% | -6.61% |
FHKFX Fidelity Series Emerging Markets Fund | 20.27% | 38.51% | 5.42% | 12.10% | -24.50% | -4.15% | 17.85% | 9.64% | -8.52% |
Correlation
The correlation between PEAFX and FHKFX is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 29, 2018 | 0.82 |
The correlation between PEAFX and FHKFX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.
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Return for Risk
PEAFX vs. FHKFX — Risk / Return Rank
PEAFX
FHKFX
PEAFX vs. FHKFX - 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 Series Emerging Markets Fund (FHKFX). 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.
| PEAFX | FHKFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 2.67 | -1.06 |
| Martin ratioReturn relative to average drawdown | 4.12 | 8.71 | -4.59 |
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Drawdowns
PEAFX vs. FHKFX - Drawdown Comparison
The maximum PEAFX drawdown since its inception was -47.18%, roughly equal to the maximum FHKFX drawdown of -45.47%. Use the drawdown chart below to compare losses from any high point for PEAFX and FHKFX.
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Drawdown Indicators
| PEAFX | FHKFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.18% | -45.47% | -1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -14.49% | +4.51% |
Max Drawdown (3Y)Largest decline over 3 years | -22.22% | -16.71% | -5.51% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -39.01% | +12.85% |
Max Drawdown (10Y)Largest decline over 10 years | -47.18% | — | — |
Current DrawdownCurrent decline from peak | -5.74% | -11.03% | +5.29% |
Average DrawdownAverage peak-to-trough decline | -10.11% | -17.01% | +6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 4.43% | -0.54% |
Volatility
PEAFX vs. FHKFX - Volatility Comparison
The current volatility for PIMCO RAE Emerging Markets Fund Class A (PEAFX) is 5.08%, while Fidelity Series Emerging Markets Fund (FHKFX) has a volatility of 9.54%. This indicates that PEAFX experiences smaller price fluctuations and is considered to be less risky than FHKFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEAFX | FHKFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 9.54% | -4.46% |
Volatility (6M)Calculated over the trailing 6-month period | 12.50% | 21.41% | -8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.43% | 23.69% | -8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.05% | 19.95% | -4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 20.18% | -3.13% |
PEAFX vs. FHKFX - Expense Ratio Comparison
PEAFX has a 1.10% expense ratio, which is higher than FHKFX's 0.01% expense ratio.
Dividends
PEAFX vs. FHKFX - Dividend Comparison
PEAFX's dividend yield for the trailing twelve months is around 2.67%, more than FHKFX's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FHKFX Fidelity Series Emerging Markets Fund | 1.98% | 2.38% | 2.86% | 2.43% | 2.56% | 3.46% | 1.38% | 2.28% | 0.42% | 0.00% | 0.00% |
PEAFX PIMCO RAE Emerging Markets Fund Class A | 2.67% | 2.97% | 1.01% | 4.01% | 11.33% | 9.19% | 7.05% | 2.48% | 11.05% | 8.07% | 2.59% |
Frequently Asked Questions
PEAFX and FHKFX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHKFX has higher volatility (9.54%) compared to PEAFX (5.08%). In terms of maximum drawdown, PEAFX dropped -47.18% vs FHKFX's -45.47%.
FHKFX currently has the higher Sharpe Ratio (1.63 vs 1.04), 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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