BIVRX vs. FSCEX
BIVRX (Invenomic Fund) and FSCEX (Fidelity Advisor Small Cap Fund Class C) are both mutual funds - BIVRX is a Long-Short fund managed by Invenomic, while FSCEX is a Small Cap Blend Equities fund managed by Fidelity. Over the past 5 years, BIVRX returned 13.00%/yr vs 3.01%/yr for FSCEX. Their 0.05 correlation means their historical movements had little consistent relationship. BIVRX charges 2.48%/yr vs 2.04%/yr for FSCEX.
Performance
BIVRX vs. FSCEX - Performance Comparison
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Returns By Period
In the year-to-date period, BIVRX achieves a 7.84% return, which is significantly lower than FSCEX's 19.16% return.
BIVRX
- 1D
- -5.65%
- 1M
- 15.64%
- 6M
- 11.37%
- YTD
- 7.84%
- 1Y
- 16.84%
- 3Y*
- 2.71%
- 5Y*
- 13.00%
- 10Y*
- —
- ALL TIME*
- 15.03%
FSCEX
- 1D
- 1.53%
- 1M
- -1.83%
- 6M
- 13.88%
- YTD
- 19.16%
- 1Y
- 31.96%
- 3Y*
- 6.45%
- 5Y*
- 3.01%
- 10Y*
- 7.82%
- ALL TIME*
- 8.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BIVRX Invenomic Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
BIVRX vs. FSCEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIVRX Invenomic Fund | 7.84% | 4.39% | -9.03% | 16.47% | 49.61% | 44.06% | 11.12% | 11.36% | 3.41% | 8.73% |
FSCEX Fidelity Advisor Small Cap Fund Class C | 19.16% | 11.04% | -11.92% | 17.31% | -21.33% | 30.13% | 16.12% | 31.37% | -16.86% | 8.01% |
Correlation
The correlation between BIVRX and FSCEX is -0.35, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.05 |
The correlation between BIVRX and FSCEX shifts across timeframes, from -0.35 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BIVRX vs. FSCEX — Risk / Return Rank
BIVRX
FSCEX
BIVRX vs. FSCEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invenomic Fund (BIVRX) and Fidelity Advisor Small Cap Fund Class C (FSCEX). 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.
| BIVRX | FSCEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.27 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 3.04 | -2.46 |
| Martin ratioReturn relative to average drawdown | 1.57 | 10.68 | -9.11 |
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Drawdowns
BIVRX vs. FSCEX - Drawdown Comparison
The maximum BIVRX drawdown since its inception was -27.37%, smaller than the maximum FSCEX drawdown of -51.02%. Use the drawdown chart below to compare losses from any high point for BIVRX and FSCEX.
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Drawdown Indicators
| BIVRX | FSCEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.37% | -51.02% | +23.65% |
Max Drawdown (1Y)Largest decline over 1 year | -26.97% | -9.37% | -17.60% |
Max Drawdown (3Y)Largest decline over 3 years | -27.37% | -41.37% | +14.00% |
Max Drawdown (5Y)Largest decline over 5 years | -27.37% | -41.37% | +14.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.37% | — |
Current DrawdownCurrent decline from peak | -5.65% | -4.41% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -12.64% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.91% | 2.67% | +7.24% |
Volatility
BIVRX vs. FSCEX - Volatility Comparison
Invenomic Fund (BIVRX) has a higher volatility of 17.69% compared to Fidelity Advisor Small Cap Fund Class C (FSCEX) at 4.40%. This indicates that BIVRX's price experiences larger fluctuations and is considered to be riskier than FSCEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIVRX | FSCEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.69% | 4.40% | +13.29% |
Volatility (6M)Calculated over the trailing 6-month period | 29.33% | 13.99% | +15.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.81% | 18.38% | +14.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.09% | 23.33% | -3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.04% | 22.57% | -3.53% |
BIVRX vs. FSCEX - Expense Ratio Comparison
BIVRX has a 2.48% expense ratio, which is higher than FSCEX's 2.04% expense ratio.
Dividends
BIVRX vs. FSCEX - Dividend Comparison
BIVRX's dividend yield for the trailing twelve months is around 1.79%, less than FSCEX's 3.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIVRX Invenomic Fund | 1.79% | 1.93% | 3.55% | 20.26% | 28.43% | 3.00% | 3.11% | 3.21% | 4.82% | 1.21% | 0.00% | 0.00% |
FSCEX Fidelity Advisor Small Cap Fund Class C | 3.00% | 3.58% | 0.00% | 2.23% | 8.66% | 16.35% | 3.97% | 5.72% | 20.54% | 18.60% | 2.60% | 10.50% |
Frequently Asked Questions
BIVRX and FSCEX have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIVRX has higher volatility (17.69%) compared to FSCEX (4.40%). In terms of maximum drawdown, BIVRX dropped -27.37% vs FSCEX's -51.02%.
FSCEX currently has the higher Sharpe Ratio (1.55 vs 0.48), 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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