Fidelity Fund Research

Fidelity Fund Analysis

In-depth analysis and research notes on mutual funds, ETFs, and investment trusts.

Fidelity Funds — Modern Portfolio Theory

Expected annualised return vs. risk (std dev). Colour = Sharpe ratio (green = higher, red = lower). Dashed line = Capital Market Line from risk-free rate (4.5%).

Fund	Return (ann.)	Risk (std dev)	Sharpe Ratio
Japan Value Fund	35.39%	19.57%	1.58
Japan Equity ESG Fund	22.86%	19.04%	0.96
Iberia Fund	16.43%	12.61%	0.95
Euro 50 Index Fund	18.51%	17.00%	0.82
Global Dividend Plus Fund	13.87%	13.09%	0.72
Global Dividend Fund	13.34%	12.44%	0.71
Global Technology Fund	18.84%	20.22%	0.71
Europe Equity ESG Fund	14.49%	14.57%	0.69
First All Country World Fund	15.29%	15.78%	0.68
Global Financial Services Fund	15.54%	17.42%	0.63
European Dividend Fund	11.93%	11.87%	0.63
Global Thematic Opportunities Fund	12.61%	16.21%	0.50
Global Multi Asset Dynamic Fund	10.58%	12.17%	0.50
Global Focus Fund	12.48%	16.21%	0.49
Asia Pacific Dividend Fund	10.43%	13.83%	0.43
European Dynamic Growth Fund	13.81%	21.79%	0.43
Technology Opportunities Fund	18.87%	34.03%	0.42
India Focus Fund	13.22%	22.61%	0.39
Global Short Duration Income Fund	5.17%	2.10%	0.32
Fidelity Funds - Italy Fund	10.15%	17.92%	0.32
Pacific Fund	9.95%	17.32%	0.31
European Larger Companies Fund	8.87%	14.06%	0.31
Global Consumer Brands Fund	10.34%	18.91%	0.31
European Smaller Companies Fund	10.64%	23.86%	0.26
Asian Smaller Companies Fund	9.85%	20.86%	0.26
Target™ 2030 Fund	9.43%	19.95%	0.25
America Fund	7.51%	13.99%	0.21
Fidelity Funds - Germany Fund	8.33%	19.67%	0.19
China Focus Fund	7.89%	24.00%	0.14
ASEAN Fund	5.77%	12.09%	0.11
Emerging EMEA Fund	6.86%	27.18%	0.09
Asia Pacific Opportunities Fund	5.57%	17.58%	0.06
UK Special Situations Fund	4.89%	14.63%	0.03
Global Income Fund	4.32%	3.85%	-0.05
Target™ 2025 Fund	2.94%	12.39%	-0.13
Emerging Asia Fund	2.16%	18.53%	-0.13
US High Yield Fund	3.21%	10.18%	-0.13
Emerging Market Debt Fund	2.56%	10.20%	-0.19
Global Healthcare Fund	0.60%	14.51%	-0.27
Asia Pacific Strategic Income Fund	2.19%	5.13%	-0.45
Emerging Market Corporate Debt Fund	2.34%	4.14%	-0.52
Global Inflation-linked Bond Fund	0.91%	6.21%	-0.58
Asian Bond Fund	1.18%	5.39%	-0.62
ASEAN Fund	0.00%	0.00%	-4.50
Asia Pacific Dividend Fund	0.00%	0.00%	-4.50
Asian Bond Fund	0.00%	0.00%	-4.50
European Dividend Fund	0.00%	0.00%	-4.50
Global Dividend Fund	0.00%	0.00%	-4.50
Global Technology Fund	0.00%	0.00%	-4.50
Pacific Fund	0.00%	0.00%	-4.50
Euro Bond Fund	0.00%	0.00%	-4.50
Nordic Fund	0.00%	0.00%	-4.50
Asian High Yield Fund	0.00%	0.00%	-4.50
Global Industrials Fund	0.00%	0.00%	-4.50
Euro Cash Fund	2.46%	0.29%	-7.03

Fidelity Fund Analysis

Fidelity Funds — Modern Portfolio Theory

All Funds 81

Fidelity Funds - Asia Equity ESG Fund A-ACC-USD

Fidelity Funds - Asian Special Situations Fund A-ACC-USD

Fidelity Funds - China Consumer Fund A-ACC-HKD

Fidelity Funds - China High Yield Fund A-ACC-USD

Fidelity Funds - China Innovation Fund A-ACC-HKD

Fidelity Funds - China RMB Bond Fund A-ACC-USD

Fidelity Funds - Emerging Markets Equity ESG Fund A-ACC-USD

Fidelity Funds - Emerging Markets Fund A-ACC-USD

Fidelity Funds - European Growth Fund A-ACC-Euro

Fidelity Funds - European High Yield Fund A-ACC-Euro

Fidelity Funds - Flexible Bond Fund A-ACC-GBP

Fidelity Funds - Global Multi Asset Growth & Income Fund A-ACC-USD

Fidelity Funds - Global Multi Asset Income Fund A-ACC-USD

Fidelity Funds - Global Multiple Opportunities Fund A-USD

Fidelity Funds - Global Value Fund A-ACC-USD

Fidelity Funds - Greater China Fund A-USD

Fidelity Funds - Indonesia Fund A-USD

Fidelity Funds - Institutional Emerging Markets Equity Fund I-ACC-USD

Fidelity Funds - Japan Growth Fund I-ACC-JPY

Fidelity Funds - Latin America Fund A-USD

Fidelity Funds - Strategic Bond Fund A-ACC-USD

Fidelity Funds - Sustainable Eurozone Equity Fund A-ACC-Euro

Fidelity Funds - Thailand Fund A-USD

Fidelity Funds - US Equity Fund A-USD

Fidelity Funds - Water & Waste Fund A-ACC-USD

Fidelity Funds - European Dynamic Growth Fund A-ACC-Euro

Fidelity Funds - Global Demographics Fund A-ACC-USD

Fidelity Funds - European Smaller Companies Fund A-ACC-Euro

Fidelity Funds - Switzerland Fund A-ACC-CHF

Fidelity Funds - Germany Fund A-ACC-Euro

Fidelity Funds - Italy Fund A-Euro

Fidelity Funds - European Multi Asset Income Fund A-ACC-EUR

Fidelity Funds - Global Financial Services Fund A-USD

Fidelity Funds - Emerging Europe, Middle East and Africa Fund A-ACC-EUR

Fidelity Funds - Global Bond Fund A-ACC-USD

Fidelity Funds - Asian Smaller Companies Fund A-ACC-USD

Fidelity Funds - Emerging Asia Fund A-ACC-HKD

Fidelity Funds - Global Bond Fund A-ACC-USD

Fidelity Funds - India Focus Fund A-USD

Fidelity Funds - Fidelity Target™ 2025 Fund A-Euro

Fidelity Funds - Fidelity Target™ 2030 Fund A-Euro

Fidelity Funds - Technology Opportunities Fund A-ACC-USD

Fidelity Funds - European Larger Companies Fund A-ACC-Euro

Fidelity Funds - Iberia Fund A-ACC-Euro

Fidelity Funds - China Focus Fund A-ACC-HKD

Fidelity Funds - Euro 50 Index Fund A-ACC-Euro

Fidelity Funds - Global Industrials Fund A-Euro

Fidelity Funds - Emerging Market Debt Fund A-ACC-USD

Fidelity Funds - Global Inflation-linked Bond Fund A-ACC-USD

Fidelity Funds - US High Yield Fund A-ACC-USD

Fidelity Funds - Asian High Yield Fund A-ACC-USD

Fidelity Funds - Nordic Fund A-ACC-SEK

Fidelity Funds - Euro Bond Fund A-ACC-Euro

Fidelity Funds - US Dollar Bond Fund A-ACC-USD

Fidelity Funds - Euro Cash Fund A-Euro

Fidelity Funds - UK Special Situations Fund A-GBP

Fidelity Funds - US Dollar Cash Fund A-ACC-USD

Fidelity Funds - America Fund A-ACC-USD

Fidelity Funds - ASEAN Fund A-ACC-HKD

Fidelity Funds - Asia Pacific Dividend Fund A-MCDIST(G)-HKD

Fidelity Funds - Asia Pacific Opportunities Fund A-ACC-USD

Fidelity Funds - Asia Pacific Strategic Income Fund A-ACC-USD

Fidelity Funds - Asian Bond Fund A-ACC-USD

Fidelity Funds - Emerging Market Corporate Debt Fund A-ACC-USD

Fidelity Funds - Europe Equity ESG Fund A-ACC-Euro

Fidelity Funds - European Dividend Fund A-ACC-Euro

Fidelity Funds - FIRST All Country World Fund A-USD

Fidelity Funds - Global Consumer Brands Fund A-ACC-USD

Fidelity Funds - Global Dividend Fund A-ACC-USD

Fidelity Funds - Global Dividend Plus Fund A-USD

Fidelity Funds - Global Focus Fund A-USD

Fidelity Funds - Global Healthcare Fund A-ACC-USD

Fidelity Funds - Global Income Fund A-ACC-USD

Fidelity Funds - Global Multi Asset Dynamic Fund A-ACC-HKD

Fidelity Funds - Global Short Duration Income Fund A-ACC-USD

Fidelity Funds - Global Technology Fund A-ACC-USD

Fidelity Funds - Global Thematic Opportunities Fund A-USD