SIVLX vs. FEDGX

Last updated Aug 1, 2026

SIVLX (Seafarer Overseas Value Fund Institutional Class) and FEDGX (Fidelity Advisor Emerging Markets Discovery Fund Class C) are both Emerging Markets Equities funds. Over the past 5 years, SIVLX returned 10.04%/yr vs 7.64%/yr for FEDGX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. SIVLX charges 1.05%/yr vs 2.25%/yr for FEDGX.

Performance

SIVLX vs. FEDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Seafarer Overseas Value Fund Institutional Class (SIVLX) and Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIVLX achieves a 7.95% return, which is significantly lower than FEDGX's 17.47% return.

SIVLX

• 1D: 2.92%
• 1M: 2.86%
• 6M: -1.13%
• YTD: 7.95%
• 1Y: 20.54%
• 3Y*: 12.78%
• 5Y*: 10.04%
• 10Y*: —
• ALL TIME*: 9.55%

FEDGX

• 1D: 2.73%
• 1M: -1.00%
• 6M: 8.19%
• YTD: 17.47%
• 1Y: 32.63%
• 3Y*: 14.28%
• 5Y*: 7.64%
• 10Y*: 8.80%
• ALL TIME*: 7.23%

*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)
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	$0.00	$0.00	$0.00
SIVLX Seafarer Overseas Value Fund Institutional Class	$0.00	$0.00	$0.00

SIVLX vs. FEDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SIVLX Seafarer Overseas Value Fund Institutional Class	7.95%	37.79%	-3.34%	13.38%	-0.74%	10.05%	4.05%	21.98%	-13.91%	23.02%
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	17.47%	30.50%	-4.59%	19.45%	-12.76%	5.51%	15.73%	18.27%	-19.70%	35.93%

Correlation

The correlation between SIVLX and FEDGX is 0.71, 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.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.75

The correlation between SIVLX and FEDGX has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

Return for Risk

SIVLX vs. FEDGX — Risk / Return Rank

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

SIVLX

SIVLX Risk / Return Rank: 41
SIVLX Sharpe Ratio Rank: 47
SIVLX Sortino Ratio Rank: 46
SIVLX Omega Ratio Rank: 54
SIVLX Calmar Ratio Rank: 32
SIVLX Martin Ratio Rank: 24

FEDGX

FEDGX Risk / Return Rank: 83
FEDGX Sharpe Ratio Rank: 84
FEDGX Sortino Ratio Rank: 79
FEDGX Omega Ratio Rank: 80
FEDGX Calmar Ratio Rank: 88
FEDGX Martin Ratio Rank: 85

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.

SIVLX vs. FEDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Seafarer Overseas Value Fund Institutional Class (SIVLX) and Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX). 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.

	SIVLX	FEDGX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.06	-0.73
Sortino ratio: Return per unit of downside risk	1.91	2.75	-0.85
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.11
Calmar ratio: Return relative to maximum drawdown	1.45	3.21	-1.76
Martin ratio: Return relative to average drawdown	3.58	10.85	-7.27

SIVLX vs. FEDGX - Sharpe Ratio Comparison

The current SIVLX Sharpe Ratio is 1.33, which is lower than the FEDGX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of SIVLX and FEDGX, 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

SIVLX vs. FEDGX - Drawdown Comparison

The maximum SIVLX drawdown since its inception was -33.09%, smaller than the maximum FEDGX drawdown of -44.26%. Use the drawdown chart below to compare losses from any high point for SIVLX and FEDGX.

Drawdown Indicators

	SIVLX	FEDGX	Difference
Max Drawdown Largest peak-to-trough decline	-33.09%	-44.26%	+11.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-9.66%	-2.85%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-17.77%	+5.26%
Max Drawdown (5Y) Largest decline over 5 years	-16.39%	-28.29%	+11.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.26%	—
Current Drawdown Current decline from peak	-6.81%	-3.54%	-3.27%
Average Drawdown Average peak-to-trough decline	-5.64%	-9.46%	+3.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.05%	2.85%	+2.20%

Volatility

SIVLX vs. FEDGX - Volatility Comparison

The current volatility for Seafarer Overseas Value Fund Institutional Class (SIVLX) is 4.60%, while Fidelity Advisor Emerging Markets Discovery Fund Class C (FEDGX) has a volatility of 5.49%. This indicates that SIVLX experiences smaller price fluctuations and is considered to be less risky than FEDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIVLX	FEDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	5.49%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	13.08%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	15.06%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.04%	14.42%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.71%	15.81%	-3.10%

SIVLX vs. FEDGX - Expense Ratio Comparison

SIVLX has a 1.05% expense ratio, which is lower than FEDGX's 2.25% expense ratio.

Dividends

SIVLX vs. FEDGX - Dividend Comparison

SIVLX's dividend yield for the trailing twelve months is around 4.68%, more than FEDGX's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FEDGX Fidelity Advisor Emerging Markets Discovery Fund Class C	3.24%	3.81%	3.01%	1.09%	0.57%	10.88%	0.00%	0.00%	0.49%	1.54%	0.58%
SIVLX Seafarer Overseas Value Fund Institutional Class	4.68%	5.05%	4.23%	2.93%	1.70%	3.56%	1.38%	3.06%	3.30%	3.41%	0.00%

Frequently Asked Questions

Can I hold both SIVLX and FEDGX in my portfolio?

SIVLX and FEDGX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIVLX or FEDGX?

FEDGX has higher volatility (5.49%) compared to SIVLX (4.60%). In terms of maximum drawdown, SIVLX dropped -33.09% vs FEDGX's -44.26%.

Which has better risk-adjusted returns?

FEDGX currently has the higher Sharpe Ratio (2.06 vs 1.33), 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.