DHTAX vs. FSOAX

Last updated Aug 5, 2026

DHTAX (Diamond Hill All Cap Select Fund) and FSOAX (Fidelity Advisor Value Strategies Fund Class A) are both Mid Cap Value Equities funds. Over the past 10 years, DHTAX returned 12.95%/yr vs 10.14%/yr for FSOAX. Their correlation of 0.91 means they have usually moved in the same direction. DHTAX charges 1.16%/yr vs 1.13%/yr for FSOAX.

Performance

DHTAX vs. FSOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Diamond Hill All Cap Select Fund (DHTAX) and Fidelity Advisor Value Strategies Fund Class A (FSOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DHTAX achieves a 9.53% return, which is significantly lower than FSOAX's 30.25% return. Over the past 10 years, DHTAX has outperformed FSOAX with an annualized return of 12.95%, while FSOAX has yielded a comparatively lower 10.14% annualized return.

DHTAX

• 1D: 1.05%
• 1M: 2.79%
• 6M: 6.96%
• YTD: 9.53%
• 1Y: 17.27%
• 3Y*: 14.75%
• 5Y*: 10.31%
• 10Y*: 12.95%
• ALL TIME*: 9.27%

FSOAX

• 1D: 1.33%
• 1M: 3.17%
• 6M: 17.80%
• YTD: 30.25%
• 1Y: 30.10%
• 3Y*: 9.14%
• 5Y*: 8.16%
• 10Y*: 10.14%
• ALL TIME*: 8.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DHTAX Diamond Hill All Cap Select Fund	$0.00	$0.00	$0.00
FSOAX Fidelity Advisor Value Strategies Fund Class A	$0.00	$0.00	$0.00

DHTAX vs. FSOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHTAX Diamond Hill All Cap Select Fund	9.53%	13.28%	12.75%	30.19%	-17.47%	32.89%	14.30%	30.43%	-12.44%	19.93%
FSOAX Fidelity Advisor Value Strategies Fund Class A	30.25%	-2.17%	-3.64%	20.24%	-7.61%	32.95%	7.95%	34.16%	-17.02%	17.21%

Correlation

The correlation between DHTAX and FSOAX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.90
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006	0.91

The correlation between DHTAX and FSOAX shifts across timeframes, from 0.71 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DHTAX vs. FSOAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DHTAX

DHTAX Risk / Return Rank: 40
DHTAX Sharpe Ratio Rank: 34
DHTAX Sortino Ratio Rank: 35
DHTAX Omega Ratio Rank: 32
DHTAX Calmar Ratio Rank: 61
DHTAX Martin Ratio Rank: 36

FSOAX

FSOAX Risk / Return Rank: 61
FSOAX Sharpe Ratio Rank: 56
FSOAX Sortino Ratio Rank: 44
FSOAX Omega Ratio Rank: 59
FSOAX Calmar Ratio Rank: 77
FSOAX Martin Ratio Rank: 71

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DHTAX vs. FSOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Diamond Hill All Cap Select Fund (DHTAX) and Fidelity Advisor Value Strategies Fund Class A (FSOAX). 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.

	DHTAX	FSOAX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.63	-0.40
Sortino ratio: Return per unit of downside risk	1.82	2.09	-0.27
Omega ratio: Gain probability vs. loss probability	1.22	1.31	-0.09
Calmar ratio: Return relative to maximum drawdown	2.32	2.75	-0.44
Martin ratio: Return relative to average drawdown	5.80	9.87	-4.08

DHTAX vs. FSOAX - Sharpe Ratio Comparison

The current DHTAX Sharpe Ratio is 1.23, which is comparable to the FSOAX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of DHTAX and FSOAX, 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

DHTAX vs. FSOAX - Drawdown Comparison

The maximum DHTAX drawdown since its inception was -51.42%, smaller than the maximum FSOAX drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for DHTAX and FSOAX.

Drawdown Indicators

	DHTAX	FSOAX	Difference
Max Drawdown Largest peak-to-trough decline	-51.42%	-70.02%	+18.60%
Max Drawdown (1Y) Largest decline over 1 year	-7.80%	-11.56%	+3.76%
Max Drawdown (3Y) Largest decline over 3 years	-20.90%	-35.33%	+14.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-35.33%	+11.02%
Max Drawdown (10Y) Largest decline over 10 years	-44.28%	-47.99%	+3.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.72%	-9.94%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	3.21%	-0.10%

Volatility

DHTAX vs. FSOAX - Volatility Comparison

Diamond Hill All Cap Select Fund (DHTAX) has a higher volatility of 4.29% compared to Fidelity Advisor Value Strategies Fund Class A (FSOAX) at 3.50%. This indicates that DHTAX's price experiences larger fluctuations and is considered to be riskier than FSOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DHTAX	FSOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	3.50%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	10.17%	11.73%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	19.58%	-4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.89%	21.18%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.96%	22.24%	-0.28%

DHTAX vs. FSOAX - Expense Ratio Comparison

DHTAX has a 1.16% expense ratio, which is higher than FSOAX's 1.13% expense ratio.

Dividends

DHTAX vs. FSOAX - Dividend Comparison

DHTAX's dividend yield for the trailing twelve months is around 7.49%, while FSOAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHTAX Diamond Hill All Cap Select Fund	7.49%	8.20%	6.66%	0.28%	4.08%	13.72%	0.28%	1.93%	11.56%	0.00%	1.27%	3.32%
FSOAX Fidelity Advisor Value Strategies Fund Class A	0.00%	0.00%	0.00%	2.90%	2.43%	8.70%	0.82%	5.59%	17.03%	7.64%	22.64%	1.10%

Frequently Asked Questions

Can I hold both DHTAX and FSOAX in my portfolio?

DHTAX and FSOAX 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, DHTAX or FSOAX?

DHTAX has higher volatility (4.29%) compared to FSOAX (3.50%). In terms of maximum drawdown, DHTAX dropped -51.42% vs FSOAX's -70.02%.

Which has better risk-adjusted returns?

FSOAX currently has the higher Sharpe Ratio (1.63 vs 1.23), 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.