TIOIX vs. FAERX

Last updated Jun 3, 2026

TIOIX (TIAA-CREF International Opportunities Fund) and FAERX (Fidelity Advisor Overseas Fund Class M) are both Foreign Large Cap Equities funds. Over the past 10 years, TIOIX returned 8.70%/yr vs 6.87%/yr for FAERX. Their correlation of 0.89 suggests significant overlap in exposure. TIOIX charges 0.61%/yr vs 1.65%/yr for FAERX.

Performance

TIOIX vs. FAERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF International Opportunities Fund (TIOIX) and Fidelity Advisor Overseas Fund Class M (FAERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, TIOIX has outperformed FAERX with an annualized return of 8.70%, while FAERX has yielded a comparatively lower 6.87% annualized return.

TIOIX

• 1D: 1.57%
• 1M: 5.60%
• YTD: 9.37%
• 6M: 10.59%
• 1Y: 19.93%
• 3Y*: 11.70%
• 5Y*: 2.33%
• 10Y*: 8.70%

FAERX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: -1.93%
• 3Y*: 8.31%
• 5Y*: 3.21%
• 10Y*: 6.87%

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

TIOIX vs. FAERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIOIX TIAA-CREF International Opportunities Fund	9.37%	20.35%	0.72%	15.43%	-24.44%	3.30%	32.67%	30.33%	-17.31%	35.21%
FAERX Fidelity Advisor Overseas Fund Class M	0.00%	14.70%	4.40%	19.78%	-24.77%	18.63%	14.43%	27.14%	-15.25%	29.37%

Correlation

The correlation between TIOIX and FAERX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.89

Over the past year, the correlation between TIOIX and FAERX has dropped to 0.52 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

Return for Risk

TIOIX vs. FAERX — Risk / Return Rank

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

TIOIX

TIOIX Risk / Return Rank: 19
TIOIX Sharpe Ratio Rank: 18
TIOIX Sortino Ratio Rank: 18
TIOIX Omega Ratio Rank: 18
TIOIX Calmar Ratio Rank: 18
TIOIX Martin Ratio Rank: 22

FAERX

FAERX Risk / Return Rank: 1
FAERX Sharpe Ratio Rank: 2
FAERX Sortino Ratio Rank: 1
FAERX Omega Ratio Rank: 1
FAERX Calmar Ratio Rank: 1
FAERX Martin Ratio Rank: 1

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.

TIOIX vs. FAERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF International Opportunities Fund (TIOIX) and Fidelity Advisor Overseas Fund Class M (FAERX). 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.

	TIOIX	FAERX	Difference
Sharpe ratio Return per unit of total volatility	1.23	-0.31	+1.54
Sortino ratio Return per unit of downside risk	1.79	-0.36	+2.15
Omega ratio Gain probability vs. loss probability	1.23	0.95	+0.28
Calmar ratio Return relative to maximum drawdown	1.55	-0.39	+1.94
Martin ratio Return relative to average drawdown	5.85	-0.66	+6.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TIOIX vs. FAERX - Sharpe Ratio Comparison

The current TIOIX Sharpe Ratio is 1.23, which is higher than the FAERX Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of TIOIX and FAERX, 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

	TIOIX	FAERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	-0.31	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.20	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.42	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.31	+0.05

Drawdowns

TIOIX vs. FAERX - Drawdown Comparison

The maximum TIOIX drawdown since its inception was -38.26%, smaller than the maximum FAERX drawdown of -60.14%. Use the drawdown chart below to compare losses from any high point for TIOIX and FAERX.

Drawdown Indicators

	TIOIX	FAERX	Difference
Max Drawdown Largest peak-to-trough decline	-38.26%	-60.14%	+21.88%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-7.29%	-6.42%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-14.00%	-2.49%
Max Drawdown (5Y) Largest decline over 5 years	-38.26%	-36.62%	-1.64%
Max Drawdown (10Y) Largest decline over 10 years	-38.26%	-36.62%	-1.64%
Current Drawdown Current decline from peak	0.00%	-5.89%	+5.89%
Average Drawdown Average peak-to-trough decline	-11.15%	-14.37%	+3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	3.99%	-0.35%

Volatility

TIOIX vs. FAERX - Volatility Comparison

TIAA-CREF International Opportunities Fund (TIOIX) has a higher volatility of 6.19% compared to Fidelity Advisor Overseas Fund Class M (FAERX) at 0.00%. This indicates that TIOIX's price experiences larger fluctuations and is considered to be riskier than FAERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIOIX	FAERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	0.00%	+6.19%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	4.07%	+10.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.25%	9.19%	+8.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	16.73%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	16.69%	+1.83%

TIOIX vs. FAERX - Expense Ratio Comparison

TIOIX has a 0.61% expense ratio, which is lower than FAERX's 1.65% expense ratio.

Dividends

TIOIX vs. FAERX - Dividend Comparison

TIOIX's dividend yield for the trailing twelve months is around 6.16%, less than FAERX's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAERX Fidelity Advisor Overseas Fund Class M	7.94%	7.94%	0.96%	0.51%	0.12%	2.07%	0.00%	1.15%	4.25%	3.35%	0.80%	0.09%
TIOIX TIAA-CREF International Opportunities Fund	6.16%	6.74%	1.49%	1.21%	1.25%	8.14%	2.51%	1.02%	1.39%	1.18%	1.31%	1.25%

Frequently Asked Questions

Can I hold both TIOIX and FAERX in my portfolio?

TIOIX and FAERX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIOIX or FAERX?

TIOIX has higher volatility (6.19%) compared to FAERX (0.00%). In terms of maximum drawdown, TIOIX dropped -38.26% vs FAERX's -60.14%.

Which has better risk-adjusted returns?

TIOIX currently has the higher Sharpe Ratio (1.23 vs -0.31), 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.