ARKVX vs. FELAX

Last updated Jun 24, 2026

ARKVX (ARK Venture Fund) and FELAX (Fidelity Advisor Semiconductors Fund Class A) are both mutual funds - ARKVX is a Technology Equities fund actively managed by ARK Investment Management, while FELAX is a Semiconductors fund actively managed by Fidelity. Both are actively managed. Over the past 3 years, ARKVX returned 38.75%/yr vs 63.82%/yr for FELAX. A 0.53 correlation means they provide meaningful diversification when combined. ARKVX charges 3.50%/yr vs 0.94%/yr for FELAX.

Performance

ARKVX vs. FELAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Venture Fund (ARKVX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKVX achieves a 18.39% return, which is significantly lower than FELAX's 88.47% return.

ARKVX

• 1D: -2.17%
• 1M: 9.92%
• YTD: 18.39%
• 6M: 19.12%
• 1Y: 78.01%
• 3Y*: 38.75%
• 5Y*: —
• 10Y*: —

FELAX

• 1D: 0.88%
• 1M: 13.80%
• YTD: 88.47%
• 6M: 85.49%
• 1Y: 161.65%
• 3Y*: 63.82%
• 5Y*: 43.05%
• 10Y*: 38.06%

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

ARKVX vs. FELAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ARKVX ARK Venture Fund	18.39%	55.68%	6.69%	61.25%	-6.24%
FELAX Fidelity Advisor Semiconductors Fund Class A	88.47%	44.88%	43.74%	75.08%	3.75%

Correlation

The correlation between ARKVX and FELAX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Nov 7, 2022	0.53

Over the past year, the correlation between ARKVX and FELAX has dropped to 0.32 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

ARKVX vs. FELAX — Risk / Return Rank

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

ARKVX

ARKVX Risk / Return Rank: 99
ARKVX Sharpe Ratio Rank: 99
ARKVX Sortino Ratio Rank: 99
ARKVX Omega Ratio Rank: 98
ARKVX Calmar Ratio Rank: 99
ARKVX Martin Ratio Rank: 99

FELAX

FELAX Risk / Return Rank: 96
FELAX Sharpe Ratio Rank: 99
FELAX Sortino Ratio Rank: 94
FELAX Omega Ratio Rank: 91
FELAX Calmar Ratio Rank: 99
FELAX Martin Ratio Rank: 99

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.

ARKVX vs. FELAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Venture Fund (ARKVX) and Fidelity Advisor Semiconductors Fund Class A (FELAX). 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.

	ARKVX	FELAX	Difference
Sharpe ratio: Return per unit of total volatility	4.27	4.58	-0.31
Sortino ratio: Return per unit of downside risk	10.58	4.49	+6.09
Omega ratio: Gain probability vs. loss probability	2.38	1.63	+0.75
Calmar ratio: Return relative to maximum drawdown	10.13	11.17	-1.04
Martin ratio: Return relative to average drawdown	38.42	40.64	-2.23

ARKVX vs. FELAX - Sharpe Ratio Comparison

The current ARKVX Sharpe Ratio is 4.27, which is comparable to the FELAX Sharpe Ratio of 4.58. The chart below compares the historical Sharpe Ratios of ARKVX and FELAX, 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

ARKVX vs. FELAX - Drawdown Comparison

The maximum ARKVX drawdown since its inception was -19.10%, smaller than the maximum FELAX drawdown of -71.33%. Use the drawdown chart below to compare losses from any high point for ARKVX and FELAX.

Drawdown Indicators

	ARKVX	FELAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.10%	-71.33%	+52.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-14.66%	+6.52%
Max Drawdown (3Y) Largest decline over 3 years	-19.10%	-36.43%	+17.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-46.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.15%	—
Current Drawdown Current decline from peak	-2.62%	0.00%	-2.62%
Average Drawdown Average peak-to-trough decline	-4.15%	-21.84%	+17.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	4.02%	-1.92%

Volatility

ARKVX vs. FELAX - Volatility Comparison

The current volatility for ARK Venture Fund (ARKVX) is 6.84%, while Fidelity Advisor Semiconductors Fund Class A (FELAX) has a volatility of 18.04%. This indicates that ARKVX experiences smaller price fluctuations and is considered to be less risky than FELAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKVX	FELAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	18.04%	-11.20%
Volatility (6M) Calculated over the trailing 6-month period	14.21%	28.87%	-14.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.35%	35.81%	-16.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.77%	38.96%	-20.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	35.05%	-16.28%

ARKVX vs. FELAX - Expense Ratio Comparison

ARKVX has a 3.50% expense ratio, which is higher than FELAX's 0.94% expense ratio.

Dividends

ARKVX vs. FELAX - Dividend Comparison

ARKVX has not paid dividends to shareholders, while FELAX's dividend yield for the trailing twelve months is around 3.69%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKVX ARK Venture Fund	0.00%	0.00%	0.32%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FELAX Fidelity Advisor Semiconductors Fund Class A	3.69%	6.96%	7.02%	3.40%	3.32%	4.34%	4.51%	1.00%	20.15%	9.67%	0.36%	10.71%

Frequently Asked Questions

Can I hold both ARKVX and FELAX in my portfolio?

ARKVX and FELAX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKVX or FELAX?

FELAX has higher volatility (18.04%) compared to ARKVX (6.84%). In terms of maximum drawdown, ARKVX dropped -19.10% vs FELAX's -71.33%.

Which has better risk-adjusted returns?

FELAX currently has the higher Sharpe Ratio (4.58 vs 4.27), 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.