PRIJX vs. FEMSX
PRIJX (T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class) and FEMSX (Fidelity Series Emerging Markets Opportunities Fund) are both Emerging Markets Equities funds. Over the past 10 years, PRIJX returned 12.15%/yr vs 13.30%/yr for FEMSX. Their correlation of 0.93 suggests significant overlap in exposure. PRIJX charges 1.13%/yr vs 0.01%/yr for FEMSX.
Performance
PRIJX vs. FEMSX - Performance Comparison
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Returns By Period
In the year-to-date period, PRIJX achieves a 29.71% return, which is significantly lower than FEMSX's 32.13% return. Over the past 10 years, PRIJX has underperformed FEMSX with an annualized return of 12.15%, while FEMSX has yielded a comparatively higher 13.30% annualized return.
PRIJX
- 1D
- -1.06%
- 1M
- 8.60%
- YTD
- 29.71%
- 6M
- 33.49%
- 1Y
- 62.08%
- 3Y*
- 26.48%
- 5Y*
- 10.33%
- 10Y*
- 12.15%
FEMSX
- 1D
- -1.15%
- 1M
- 7.85%
- YTD
- 32.13%
- 6M
- 36.21%
- 1Y
- 63.17%
- 3Y*
- 28.15%
- 5Y*
- 8.38%
- 10Y*
- 13.30%
PRIJX vs. FEMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRIJX T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class | 29.71% | 38.56% | 5.75% | 11.13% | -15.64% | 4.50% | 6.87% | 16.63% | -9.91% | 32.57% |
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 32.13% | 37.92% | 7.84% | 14.23% | -23.95% | -5.14% | 24.72% | 28.87% | -16.20% | 49.92% |
Correlation
The correlation between PRIJX and FEMSX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016 | 0.93 |
The correlation between PRIJX and FEMSX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
PRIJX vs. FEMSX — Risk / Return Rank
PRIJX
FEMSX
PRIJX vs. FEMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX). 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.
| PRIJX | FEMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.63 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.82 | 4.88 | -0.06 |
| Martin ratioReturn relative to average drawdown | 19.06 | 19.45 | -0.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRIJX | FEMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.53 | 3.45 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.44 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.69 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.57 | +0.11 |
Drawdowns
PRIJX vs. FEMSX - Drawdown Comparison
The maximum PRIJX drawdown since its inception was -41.67%, smaller than the maximum FEMSX drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for PRIJX and FEMSX.
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Drawdown Indicators
| PRIJX | FEMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.67% | -44.16% | +2.49% |
Max Drawdown (1Y)Largest decline over 1 year | -13.26% | -13.42% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -16.15% | -17.04% | +0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -32.32% | -41.64% | +9.32% |
Max Drawdown (10Y)Largest decline over 10 years | -41.67% | -44.16% | +2.49% |
Current DrawdownCurrent decline from peak | -1.06% | -1.15% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -9.92% | -13.40% | +3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 3.36% | -0.01% |
Volatility
PRIJX vs. FEMSX - Volatility Comparison
T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class (PRIJX) and Fidelity Series Emerging Markets Opportunities Fund (FEMSX) have volatilities of 8.43% and 8.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRIJX | FEMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.43% | 8.12% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 15.55% | 16.46% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.13% | 18.99% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 19.04% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.70% | 19.34% | -1.64% |
PRIJX vs. FEMSX - Expense Ratio Comparison
PRIJX has a 1.13% expense ratio, which is higher than FEMSX's 0.01% expense ratio.
Dividends
PRIJX vs. FEMSX - Dividend Comparison
PRIJX's dividend yield for the trailing twelve months is around 3.48%, more than FEMSX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEMSX Fidelity Series Emerging Markets Opportunities Fund | 1.85% | 2.45% | 2.08% | 2.82% | 2.39% | 12.83% | 2.99% | 2.48% | 9.42% | 8.98% | 1.46% | 1.27% |
PRIJX T. Rowe Price Emerging Markets Discovery Stock Fund Investor Class | 3.48% | 4.51% | 3.15% | 2.99% | 1.93% | 2.29% | 0.76% | 2.55% | 1.66% | 3.67% | 4.69% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, PRIJX and FEMSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PRIJX has higher volatility (8.43%) compared to FEMSX (8.12%). In terms of maximum drawdown, PRIJX dropped -41.67% vs FEMSX's -44.16%.
PRIJX currently has the higher Sharpe Ratio (3.53 vs 3.44), 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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