RWCEX vs. FGKPX
RWCEX (Redwheel Global Emerging Equity Fund) and FGKPX (Fidelity SAI Emerging Markets Low Volatility Index Fund) are both Emerging Markets Equities funds. Over the past 5 years, RWCEX returned 0.77%/yr vs 6.76%/yr for FGKPX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. RWCEX charges 1.22%/yr vs 0.23%/yr for FGKPX.
Performance
RWCEX vs. FGKPX - Performance Comparison
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Returns By Period
In the year-to-date period, RWCEX achieves a -0.28% return, which is significantly lower than FGKPX's 10.41% return.
RWCEX
- 1D
- -1.30%
- 1M
- -5.74%
- 6M
- -12.74%
- YTD
- -0.28%
- 1Y
- 15.79%
- 3Y*
- 9.11%
- 5Y*
- 0.77%
- 10Y*
- —
- ALL TIME*
- 6.20%
FGKPX
- 1D
- -0.55%
- 1M
- -2.68%
- 6M
- 6.97%
- YTD
- 10.41%
- 1Y
- 13.10%
- 3Y*
- 10.28%
- 5Y*
- 6.76%
- 10Y*
- —
- ALL TIME*
- 6.43%
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 |
RWCEX vs. FGKPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RWCEX Redwheel Global Emerging Equity Fund | -0.28% | 40.13% | -1.85% | 5.59% | -24.47% | -5.10% | 34.62% | 10.42% |
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund | 10.41% | 12.56% | 5.96% | 15.28% | -12.98% | 10.75% | 5.22% | 3.48% |
Correlation
The correlation between RWCEX and FGKPX is 0.74, 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. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.78 |
The correlation between RWCEX and FGKPX has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.
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Return for Risk
RWCEX vs. FGKPX — Risk / Return Rank
RWCEX
FGKPX
RWCEX vs. FGKPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Redwheel Global Emerging Equity Fund (RWCEX) 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.
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.
| RWCEX | FGKPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.22 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.91 | -0.83 |
| Martin ratioReturn relative to average drawdown | 2.73 | 4.95 | -2.22 |
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Drawdowns
RWCEX vs. FGKPX - Drawdown Comparison
The maximum RWCEX drawdown since its inception was -46.08%, which is greater than FGKPX's maximum drawdown of -32.05%. Use the drawdown chart below to compare losses from any high point for RWCEX and FGKPX.
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Drawdown Indicators
| RWCEX | FGKPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.08% | -32.05% | -14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -14.62% | -6.93% | -7.69% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -12.67% | -8.73% |
Max Drawdown (5Y)Largest decline over 5 years | -39.58% | -20.69% | -18.89% |
Current DrawdownCurrent decline from peak | -14.50% | -6.33% | -8.17% |
Average DrawdownAverage peak-to-trough decline | -20.12% | -5.28% | -14.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 2.66% | +3.10% |
Volatility
RWCEX vs. FGKPX - Volatility Comparison
Redwheel Global Emerging Equity Fund (RWCEX) has a higher volatility of 6.46% compared to Fidelity SAI Emerging Markets Low Volatility Index Fund (FGKPX) at 4.14%. This indicates that RWCEX'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.
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Volatility by Period
| RWCEX | FGKPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 4.14% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 18.12% | 10.65% | +7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.33% | 11.63% | +9.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.08% | 10.58% | +10.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 12.64% | +8.15% |
RWCEX vs. FGKPX - Expense Ratio Comparison
RWCEX has a 1.22% expense ratio, which is higher than FGKPX's 0.23% expense ratio.
Dividends
RWCEX vs. FGKPX - Dividend Comparison
RWCEX's dividend yield for the trailing twelve months is around 0.96%, less than FGKPX's 7.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FGKPX Fidelity SAI Emerging Markets Low Volatility Index Fund | 7.01% | 7.75% | 5.07% | 2.91% | 1.88% | 2.30% | 1.77% | 1.88% | 0.00% | 0.00% |
RWCEX Redwheel Global Emerging Equity Fund | 0.96% | 0.96% | 1.27% | 0.68% | 0.54% | 16.01% | 0.24% | 0.49% | 0.14% | 1.47% |
Frequently Asked Questions
RWCEX and FGKPX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWCEX has higher volatility (6.46%) compared to FGKPX (4.14%). In terms of maximum drawdown, RWCEX dropped -46.08% vs FGKPX's -32.05%.
FGKPX currently has the higher Sharpe Ratio (1.14 vs 0.74), 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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