FZAEX Performance — Fidelity Advisor Focused Emerging Markets Fund, Class Z
Data updated: 2026-09-23
FZAEX returned +21.03% year to date and +41.38% over one year to Jul 2026. Annualised returns are +22.03% over 3 years and +9.53% over 5 years. The fund beat its Emerging Markets Equity category average: $100 invested three years ago grew to $182, against $164 for the category, and to $141 over one year, against $134. Volatility over the past three years was 17.65% a year. In the 12 months to Jul 2026 the fund took in a net $1.4B, and assets reached $13.14B.
FZAEX Growth of $100
What $100 invested in Fidelity Advisor Focused Emerging Markets Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Emerging Markets Equity category average over the same months.
| Period | FZAEX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $141 | $134 |
| 3 years (Aug 2023 – Jul 2026) | $182 | $164 |
| 5 years (Aug 2021 – Jul 2026) | $158 | $143 |
| Since data start (Aug 2019 – Jul 2026) | $226 | $188 |
FZAEX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +21.03% |
| 1 year | +41.38% |
| 3 years (annualised) | +22.03% |
| 5 years (annualised) | +9.53% |
FZAEX Annual Returns
Calendar-year total returns of Fidelity Advisor Focused Emerging Markets Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +21.03% |
| 2025 | +40.28% |
| 2024 | +9.45% |
| 2023 | +8.62% |
| 2022 | −19.73% |
| 2021 | −2.41% |
| 2020 | +30.60% |
| 2019 (Aug–Dec) | +9.50% |
FZAEX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +10.6% | +5.1% | −10.1% | +12.0% | +9.6% | 0.0% | −5.6% | — | — | — | — | — |
| 2025 | +1.7% | +1.3% | +3.0% | −1.6% | +4.3% | +5.8% | +4.2% | +3.3% | +7.0% | +3.4% | −1.1% | +3.3% |
| 2024 | −5.9% | +4.4% | +4.9% | +2.0% | +2.1% | +2.1% | +0.5% | +0.3% | +7.8% | −4.1% | −3.4% | −0.9% |
| 2023 | +9.3% | −7.3% | +2.3% | −0.3% | −3.6% | +5.3% | +5.9% | −7.0% | −3.3% | −3.5% | +9.1% | +3.2% |
| 2022 | +1.8% | −8.5% | −5.9% | −4.9% | +1.4% | −5.1% | −1.2% | +0.9% | −11.3% | −3.4% | +18.6% | −1.1% |
| 2021 | +4.0% | +0.3% | −0.6% | +1.1% | +2.9% | +0.1% | −7.1% | +2.0% | −4.2% | +1.7% | −4.2% | +2.2% |
| 2020 | −4.7% | −3.7% | −14.8% | +9.8% | +3.3% | +7.5% | +9.7% | +2.0% | −2.4% | +4.2% | +10.5% | +8.9% |
| 2019 | — | — | — | — | — | — | — | −3.7% | +2.6% | +1.7% | +0.4% | +8.6% |
FZAEX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 17.65%
- 3-year Sharpe ratio: 0.99 (vs 4.5% risk-free rate)
- Best month: +12.01% (Apr 2026)
- Worst month: −10.13% (Mar 2026)
FZAEX Fund Flows
Monthly money in and out of Fidelity Advisor Focused Emerging Markets Fund, from SEC Form N-PORT.
- 12-month net flow: $1.4B
- 12-month gross sales (incl. reinvestments): $5.0B
- Sales ÷ redemptions: 1.39×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $312.4M | $252.7M | $59.7M |
| Jun 2026 | $1.2B | $1.0B | $122.8M |
| May 2026 | $252.8M | $195.2M | $57.5M |
| Apr 2026 | $224.5M | $203.9M | $20.6M |
| Mar 2026 | $695.8M | $288.9M | $407.0M |
| Feb 2026 | $649.4M | $186.0M | $463.5M |
| Jan 2026 | $557.4M | $224.2M | $333.2M |
| Dec 2025 | $310.9M | $531.5M | −$220.6M |
| Nov 2025 | $147.3M | $131.8M | $15.5M |
| Oct 2025 | $160.9M | $192.0M | −$31.1M |
| Sep 2025 | $184.2M | $245.4M | −$61.2M |
| Aug 2025 | $397.4M | $148.6M | $248.8M |
FZAEX Assets Under Management
Net assets of Fidelity Advisor Focused Emerging Markets Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $13.14B |
| 2026-04-30 | $12.47B |
| 2026-01-31 | $10.89B |
| 2025-10-31 | $9.71B |
| 2025-07-31 | $8.33B |
| 2025-04-30 | $7.31B |
| 2025-01-31 | $6.00B |
| 2024-10-31 | $5.76B |
| 2024-07-31 | $5.11B |
| 2024-04-30 | $4.37B |
| 2024-01-31 | $3.73B |
| 2023-10-31 | $3.70B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.