BRSIX vs. FCVAX
BRSIX (Bridgeway Ultra Small Company Market Fund) and FCVAX (Fidelity Advisor Small Cap Value Fund Class A) are both Small Cap Value Equities funds. Over the past 10 years, BRSIX returned 8.67%/yr vs 11.52%/yr for FCVAX. Their correlation of 0.86 suggests significant overlap in exposure. BRSIX charges 0.78%/yr vs 1.26%/yr for FCVAX.
Performance
BRSIX vs. FCVAX - Performance Comparison
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Returns By Period
In the year-to-date period, BRSIX achieves a 18.82% return, which is significantly lower than FCVAX's 23.07% return. Over the past 10 years, BRSIX has underperformed FCVAX with an annualized return of 8.67%, while FCVAX has yielded a comparatively higher 11.52% annualized return.
BRSIX
- 1D
- 0.22%
- 1M
- 1.11%
- YTD
- 18.82%
- 6M
- 16.32%
- 1Y
- 52.10%
- 3Y*
- 21.24%
- 5Y*
- -0.43%
- 10Y*
- 8.67%
FCVAX
- 1D
- -0.51%
- 1M
- 4.88%
- YTD
- 23.07%
- 6M
- 20.33%
- 1Y
- 36.00%
- 3Y*
- 18.28%
- 5Y*
- 9.09%
- 10Y*
- 11.52%
BRSIX vs. FCVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BRSIX Bridgeway Ultra Small Company Market Fund | 18.82% | 20.09% | 14.92% | 11.46% | -23.43% | -1.93% | 25.50% | 15.34% | -17.23% | 12.29% |
FCVAX Fidelity Advisor Small Cap Value Fund Class A | 23.07% | 7.75% | 7.72% | 17.47% | -13.29% | 37.77% | 10.82% | 20.47% | -15.50% | 11.99% |
Correlation
The correlation between BRSIX and FCVAX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2004 | 0.86 |
The correlation between BRSIX and FCVAX shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BRSIX vs. FCVAX — Risk / Return Rank
BRSIX
FCVAX
BRSIX vs. FCVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bridgeway Ultra Small Company Market Fund (BRSIX) and Fidelity Advisor Small Cap Value Fund Class A (FCVAX). 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.
| BRSIX | FCVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.89 | 3.64 | +1.25 |
| Martin ratioReturn relative to average drawdown | 14.66 | 12.73 | +1.93 |
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Drawdowns
BRSIX vs. FCVAX - Drawdown Comparison
The maximum BRSIX drawdown since its inception was -61.79%, which is greater than FCVAX's maximum drawdown of -57.86%. Use the drawdown chart below to compare losses from any high point for BRSIX and FCVAX.
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Drawdown Indicators
| BRSIX | FCVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.79% | -57.86% | -3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -11.46% | -10.41% | -1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -30.80% | -24.90% | -5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -53.66% | -24.90% | -28.76% |
Max Drawdown (10Y)Largest decline over 10 years | -54.09% | -44.71% | -9.38% |
Current DrawdownCurrent decline from peak | -3.50% | -0.51% | -2.99% |
Average DrawdownAverage peak-to-trough decline | -15.61% | -8.10% | -7.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 2.97% | +0.84% |
Volatility
BRSIX vs. FCVAX - Volatility Comparison
Bridgeway Ultra Small Company Market Fund (BRSIX) has a higher volatility of 7.88% compared to Fidelity Advisor Small Cap Value Fund Class A (FCVAX) at 5.87%. This indicates that BRSIX's price experiences larger fluctuations and is considered to be riskier than FCVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRSIX | FCVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.88% | 5.87% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 16.09% | 13.45% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.04% | 18.18% | +5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.60% | 20.96% | +3.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.18% | 22.35% | +1.83% |
BRSIX vs. FCVAX - Expense Ratio Comparison
BRSIX has a 0.78% expense ratio, which is lower than FCVAX's 1.26% expense ratio.
Dividends
BRSIX vs. FCVAX - Dividend Comparison
BRSIX's dividend yield for the trailing twelve months is around 0.87%, less than FCVAX's 8.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRSIX Bridgeway Ultra Small Company Market Fund | 0.87% | 1.03% | 0.62% | 0.89% | 2.12% | 1.32% | 3.46% | 1.30% | 16.12% | 13.71% | 8.25% | 12.77% |
FCVAX Fidelity Advisor Small Cap Value Fund Class A | 8.37% | 10.30% | 4.77% | 5.19% | 6.11% | 7.94% | 0.30% | 3.32% | 37.11% | 3.43% | 7.01% | 11.07% |
Frequently Asked Questions
BRSIX and FCVAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRSIX has higher volatility (7.88%) compared to FCVAX (5.87%). In terms of maximum drawdown, BRSIX dropped -61.79% vs FCVAX's -57.86%.
BRSIX currently has the higher Sharpe Ratio (2.33 vs 2.09), 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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