DDDIX vs. FZFLX

Last updated Jun 23, 2026

DDDIX (13D Activist Fund) and FZFLX (Fidelity SAI Small-Mid Cap 500 Index Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, DDDIX returned 10.70%/yr vs 14.30%/yr for FZFLX. Their correlation of 0.89 suggests significant overlap in exposure. DDDIX charges 1.51%/yr vs 0.05%/yr for FZFLX.

Performance

DDDIX vs. FZFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 13D Activist Fund (DDDIX) and Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDDIX achieves a 27.51% return, which is significantly lower than FZFLX's 35.27% return. Over the past 10 years, DDDIX has underperformed FZFLX with an annualized return of 10.70%, while FZFLX has yielded a comparatively higher 14.30% annualized return.

DDDIX

• 1D: 0.04%
• 1M: 5.06%
• YTD: 27.51%
• 6M: 26.12%
• 1Y: 43.99%
• 3Y*: 12.38%
• 5Y*: 4.62%
• 10Y*: 10.70%

FZFLX

• 1D: 1.51%
• 1M: 3.77%
• YTD: 35.27%
• 6M: 31.17%
• 1Y: 50.77%
• 3Y*: 23.69%
• 5Y*: 12.86%
• 10Y*: 14.30%

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

DDDIX vs. FZFLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDDIX 13D Activist Fund	27.51%	3.05%	1.67%	10.86%	-17.53%	19.62%	18.92%	31.79%	-13.43%	23.76%
FZFLX Fidelity SAI Small-Mid Cap 500 Index Fund	35.27%	10.76%	15.52%	17.75%	-15.62%	20.40%	19.78%	31.96%	-9.25%	18.41%

Correlation

The correlation between DDDIX and FZFLX is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 20, 2015	0.89

The correlation between DDDIX and FZFLX shifts across timeframes, from 0.71 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DDDIX vs. FZFLX — Risk / Return Rank

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

DDDIX

DDDIX Risk / Return Rank: 68
DDDIX Sharpe Ratio Rank: 65
DDDIX Sortino Ratio Rank: 61
DDDIX Omega Ratio Rank: 53
DDDIX Calmar Ratio Rank: 87
DDDIX Martin Ratio Rank: 74

FZFLX

FZFLX Risk / Return Rank: 80
FZFLX Sharpe Ratio Rank: 78
FZFLX Sortino Ratio Rank: 67
FZFLX Omega Ratio Rank: 66
FZFLX Calmar Ratio Rank: 93
FZFLX Martin Ratio Rank: 95

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.

DDDIX vs. FZFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 13D Activist Fund (DDDIX) and Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX). 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.

	DDDIX	FZFLX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.38	-0.21
Sortino ratio: Return per unit of downside risk	2.98	3.12	-0.14
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	4.04	4.82	-0.78
Martin ratio: Return relative to average drawdown	13.09	20.04	-6.94

DDDIX vs. FZFLX - Sharpe Ratio Comparison

The current DDDIX Sharpe Ratio is 2.18, which is comparable to the FZFLX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of DDDIX and FZFLX, 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

DDDIX vs. FZFLX - Drawdown Comparison

The maximum DDDIX drawdown since its inception was -43.82%, roughly equal to the maximum FZFLX drawdown of -42.03%. Use the drawdown chart below to compare losses from any high point for DDDIX and FZFLX.

Drawdown Indicators

	DDDIX	FZFLX	Difference
Max Drawdown Largest peak-to-trough decline	-43.82%	-42.03%	-1.79%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-10.68%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-28.76%	-22.29%	-6.47%
Max Drawdown (5Y) Largest decline over 5 years	-28.76%	-24.77%	-3.99%
Max Drawdown (10Y) Largest decline over 10 years	-43.82%	-42.03%	-1.79%
Current Drawdown Current decline from peak	-1.34%	-0.33%	-1.01%
Average Drawdown Average peak-to-trough decline	-7.13%	-5.72%	-1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.56%	+0.77%

Volatility

DDDIX vs. FZFLX - Volatility Comparison

The current volatility for 13D Activist Fund (DDDIX) is 5.51%, while Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX) has a volatility of 7.53%. This indicates that DDDIX experiences smaller price fluctuations and is considered to be less risky than FZFLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDDIX	FZFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	7.53%	-2.02%
Volatility (6M) Calculated over the trailing 6-month period	14.30%	18.63%	-4.33%
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	21.61%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.23%	21.28%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.01%	21.18%	-0.17%

DDDIX vs. FZFLX - Expense Ratio Comparison

DDDIX has a 1.51% expense ratio, which is higher than FZFLX's 0.05% expense ratio.

Dividends

DDDIX vs. FZFLX - Dividend Comparison

DDDIX's dividend yield for the trailing twelve months is around 3.62%, less than FZFLX's 42.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDDIX 13D Activist Fund	3.62%	4.62%	5.16%	3.89%	9.39%	9.30%	6.98%	6.88%	5.33%	1.69%	0.00%	0.00%
FZFLX Fidelity SAI Small-Mid Cap 500 Index Fund	42.71%	57.77%	10.20%	2.35%	79.79%	50.77%	7.19%	6.49%	7.69%	1.68%	0.93%	0.67%

Frequently Asked Questions

Can I hold both DDDIX and FZFLX in my portfolio?

DDDIX and FZFLX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDDIX or FZFLX?

FZFLX has higher volatility (7.53%) compared to DDDIX (5.51%). In terms of maximum drawdown, DDDIX dropped -43.82% vs FZFLX's -42.03%.

Which has better risk-adjusted returns?

FZFLX currently has the higher Sharpe Ratio (2.38 vs 2.18), 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.