EQPIX vs. VALAX

Last updated Jun 24, 2026

EQPIX (Fidelity Advisor Equity Income Fund Class I) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Their correlation of 0.90 suggests significant overlap in exposure. EQPIX charges 0.65%/yr vs 1.24%/yr for VALAX.

Performance

EQPIX vs. VALAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Equity Income Fund Class I (EQPIX) and Al Frank Fund (VALAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQPIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VALAX

• 1D: 0.85%
• 1M: 4.45%
• YTD: 25.18%
• 6M: 23.99%
• 1Y: 50.76%
• 3Y*: 25.05%
• 5Y*: 12.78%
• 10Y*: 15.04%

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

EQPIX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EQPIX Fidelity Advisor Equity Income Fund Class I	0.00%	2.86%	6.37%	11.43%	-1.10%	22.41%	1.47%	27.53%	-9.69%	11.64%
VALAX Al Frank Fund	25.18%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%

Correlation

The correlation between EQPIX and VALAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006	0.90

The correlation between EQPIX and VALAX shifts across timeframes, from 0.66 (3 years) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EQPIX vs. VALAX — Risk / Return Rank

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

EQPIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VALAX

VALAX Risk / Return Rank: 96
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 95
VALAX Omega Ratio Rank: 91
VALAX Calmar Ratio Rank: 97
VALAX Martin Ratio Rank: 97

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.

EQPIX vs. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Equity Income Fund Class I (EQPIX) and Al Frank Fund (VALAX). 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.

	EQPIX	VALAX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.63	—
Sortino ratio: Return per unit of downside risk	—	4.77	—
Omega ratio: Gain probability vs. loss probability	—	1.64	—
Calmar ratio: Return relative to maximum drawdown	—	6.08	—
Martin ratio: Return relative to average drawdown	—	23.87	—

Drawdowns

Drawdown Indicators

	EQPIX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-61.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.56%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.22%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-10.72%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.18%	—

Volatility

Volatility by Period

	EQPIX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	14.37%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.86%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.39%	—

EQPIX vs. VALAX - Expense Ratio Comparison

EQPIX has a 0.65% expense ratio, which is lower than VALAX's 1.24% expense ratio.

Dividends

EQPIX vs. VALAX - Dividend Comparison

EQPIX has not paid dividends to shareholders, while VALAX's dividend yield for the trailing twelve months is around 6.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQPIX Fidelity Advisor Equity Income Fund Class I	0.00%	4.49%	1.48%	4.77%	5.81%	10.67%	2.31%	7.87%	16.21%	9.88%	3.18%	10.56%
VALAX Al Frank Fund	6.91%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both EQPIX and VALAX in my portfolio?

With a correlation of 0.90, EQPIX and VALAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.