VEITX vs. FAOIX

Last updated Aug 1, 2026

VEITX (VELA International Fund) and FAOIX (Fidelity Advisor Overseas Fund Class I) are both Foreign Large Cap Equities funds. Over the past 5 years, VEITX returned 9.44%/yr vs 2.74%/yr for FAOIX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. VEITX charges 1.20%/yr vs 1.12%/yr for FAOIX.

Performance

VEITX vs. FAOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VELA International Fund (VEITX) and Fidelity Advisor Overseas Fund Class I (FAOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VEITX

• 1D: 1.44%
• 1M: 4.43%
• 6M: 6.51%
• YTD: 9.64%
• 1Y: 23.86%
• 3Y*: 14.72%
• 5Y*: 9.44%
• 10Y*: —
• ALL TIME*: 13.93%

FAOIX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.00%
• YTD: 0.00%
• 1Y: -0.26%
• 3Y*: 7.86%
• 5Y*: 2.74%
• 10Y*: 7.63%
• ALL TIME*: 5.75%

*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)
FAOIX Fidelity Advisor Overseas Fund Class I	$0.00	$0.00	$0.00
VEITX VELA International Fund	$0.00	$0.00	$0.00

VEITX vs. FAOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VEITX VELA International Fund	9.64%	31.00%	3.91%	15.92%	-6.88%	7.33%	22.42%
FAOIX Fidelity Advisor Overseas Fund Class I	0.00%	15.25%	4.92%	20.35%	-24.38%	19.23%	16.88%

Correlation

The correlation between VEITX and FAOIX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020	0.76

Over the past year, the correlation between VEITX and FAOIX has dropped to 0.36 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

Return for Risk

VEITX vs. FAOIX — Risk / Return Rank

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

VEITX

VEITX Risk / Return Rank: 65
VEITX Sharpe Ratio Rank: 74
VEITX Sortino Ratio Rank: 72
VEITX Omega Ratio Rank: 68
VEITX Calmar Ratio Rank: 56
VEITX Martin Ratio Rank: 52

FAOIX

FAOIX Risk / Return Rank: 2
FAOIX Sharpe Ratio Rank: 2
FAOIX Sortino Ratio Rank: 2
FAOIX Omega Ratio Rank: 1
FAOIX Calmar Ratio Rank: 2
FAOIX Martin Ratio Rank: 3

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.

VEITX vs. FAOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VELA International Fund (VEITX) and Fidelity Advisor Overseas Fund Class I (FAOIX). 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.

	VEITX	FAOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	-0.31	+2.09
Sortino ratio: Return per unit of downside risk	2.52	-0.37	+2.90
Omega ratio: Gain probability vs. loss probability	1.31	0.93	+0.38
Calmar ratio: Return relative to maximum drawdown	2.10	-0.32	+2.43
Martin ratio: Return relative to average drawdown	7.54	-0.49	+8.03

VEITX vs. FAOIX - Sharpe Ratio Comparison

The current VEITX Sharpe Ratio is 1.78, which is higher than the FAOIX Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of VEITX and FAOIX, 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

VEITX vs. FAOIX - Drawdown Comparison

The maximum VEITX drawdown since its inception was -27.99%, smaller than the maximum FAOIX drawdown of -59.86%. Use the drawdown chart below to compare losses from any high point for VEITX and FAOIX.

Drawdown Indicators

	VEITX	FAOIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.99%	-59.86%	+31.87%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-7.28%	-3.76%
Max Drawdown (3Y) Largest decline over 3 years	-12.16%	-13.98%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	-25.00%	-36.33%	+11.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.33%	—
Current Drawdown Current decline from peak	0.00%	-5.85%	+5.85%
Average Drawdown Average peak-to-trough decline	-5.68%	-14.17%	+8.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	4.48%	-1.41%

Volatility

VEITX vs. FAOIX - Volatility Comparison

VELA International Fund (VEITX) has a higher volatility of 3.72% compared to Fidelity Advisor Overseas Fund Class I (FAOIX) at 0.00%. This indicates that VEITX's price experiences larger fluctuations and is considered to be riskier than FAOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEITX	FAOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	0.00%	+3.72%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	0.00%	+10.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	7.69%	+5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.33%	16.67%	-2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	16.29%	-1.85%

VEITX vs. FAOIX - Expense Ratio Comparison

VEITX has a 1.20% expense ratio, which is higher than FAOIX's 1.12% expense ratio.

Dividends

VEITX vs. FAOIX - Dividend Comparison

VEITX's dividend yield for the trailing twelve months is around 8.08%, less than FAOIX's 8.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAOIX Fidelity Advisor Overseas Fund Class I	8.49%	8.49%	1.66%	0.96%	0.63%	2.06%	0.00%	1.35%	5.09%	3.79%	1.49%	0.63%
VEITX VELA International Fund	8.08%	7.97%	3.63%	2.28%	1.65%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEITX and FAOIX in my portfolio?

VEITX and FAOIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VEITX or FAOIX?

VEITX has higher volatility (3.72%) compared to FAOIX (0.00%). In terms of maximum drawdown, VEITX dropped -27.99% vs FAOIX's -59.86%.

Which has better risk-adjusted returns?

VEITX currently has the higher Sharpe Ratio (1.78 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.