VEITX vs. FAOSX
VEITX (VELA International Fund) and FAOSX (Fidelity Advisor Overseas Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 5 years, VEITX returned 7.97%/yr vs 3.89%/yr for FAOSX. A 0.77 correlation means they provide meaningful diversification when combined. VEITX charges 1.20%/yr vs 1.02%/yr for FAOSX.
Performance
VEITX vs. FAOSX - Performance Comparison
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Returns By Period
VEITX
- 1D
- -0.06%
- 1M
- -1.04%
- YTD
- 3.81%
- 6M
- 3.61%
- 1Y
- 17.58%
- 3Y*
- 13.79%
- 5Y*
- 7.97%
- 10Y*
- —
FAOSX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 0.31%
- 3Y*
- 8.01%
- 5Y*
- 3.89%
- 10Y*
- —
VEITX vs. FAOSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VEITX VELA International Fund | 3.81% | 31.00% | 3.91% | 15.92% | -6.88% | 7.33% | 22.42% |
FAOSX Fidelity Advisor Overseas Fund Class Z | 0.00% | 15.36% | 5.06% | 20.52% | -24.31% | 19.42% | 16.89% |
Correlation
The correlation between VEITX and FAOSX is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2020 | 0.77 |
Over the past year, the correlation between VEITX and FAOSX has dropped to 0.44 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
VEITX vs. FAOSX — Risk / Return Rank
VEITX
FAOSX
VEITX vs. FAOSX - 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 Z (FAOSX). 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 | FAOSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.00 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | -0.06 | +1.58 |
| Martin ratioReturn relative to average drawdown | 5.54 | -0.09 | +5.64 |
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Drawdowns
VEITX vs. FAOSX - Drawdown Comparison
The maximum VEITX drawdown since its inception was -27.99%, smaller than the maximum FAOSX drawdown of -36.24%. Use the drawdown chart below to compare losses from any high point for VEITX and FAOSX.
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Drawdown Indicators
| VEITX | FAOSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.99% | -36.24% | +8.25% |
Max Drawdown (1Y)Largest decline over 1 year | -11.04% | -7.26% | -3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -13.96% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -25.52% | -36.24% | +10.72% |
Current DrawdownCurrent decline from peak | -3.07% | -5.86% | +2.79% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -7.92% | +2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 4.13% | -1.11% |
Volatility
VEITX vs. FAOSX - Volatility Comparison
VELA International Fund (VEITX) has a higher volatility of 4.39% compared to Fidelity Advisor Overseas Fund Class Z (FAOSX) at 0.00%. This indicates that VEITX's price experiences larger fluctuations and is considered to be riskier than FAOSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEITX | FAOSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 0.00% | +4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 10.52% | 3.63% | +6.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 8.76% | +4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.34% | 16.70% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.48% | 16.64% | -2.16% |
VEITX vs. FAOSX - Expense Ratio Comparison
VEITX has a 1.20% expense ratio, which is higher than FAOSX's 1.02% expense ratio.
Dividends
VEITX vs. FAOSX - Dividend Comparison
VEITX's dividend yield for the trailing twelve months is around 8.09%, less than FAOSX's 8.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAOSX Fidelity Advisor Overseas Fund Class Z | 8.67% | 8.67% | 1.80% | 1.12% | 0.85% | 2.07% | 0.00% | 1.70% | 5.30% | 3.93% |
VEITX VELA International Fund | 8.09% | 7.97% | 3.63% | 2.28% | 1.65% | 0.65% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VEITX and FAOSX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEITX has higher volatility (4.39%) compared to FAOSX (0.00%). In terms of maximum drawdown, VEITX dropped -27.99% vs FAOSX's -36.24%.
VEITX currently has the higher Sharpe Ratio (1.30 vs -0.05), 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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