FAFSX vs. FLC

Last updated Jun 23, 2026

FAFSX (Fidelity Advisor Financial Services Fund Class M) and FLC (Flaherty & Crumrine Total Return Fund Inc) are both Financials Equities funds. Over the past 10 years, FAFSX returned 13.79%/yr vs 4.61%/yr for FLC. At a 0.31 correlation, their price movements are largely independent. FAFSX charges 1.28%/yr vs 1.64%/yr for FLC.

Performance

FAFSX vs. FLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Financial Services Fund Class M (FAFSX) and Flaherty & Crumrine Total Return Fund Inc (FLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAFSX achieves a 1.94% return, which is significantly higher than FLC's -1.76% return. Over the past 10 years, FAFSX has outperformed FLC with an annualized return of 13.79%, while FLC has yielded a comparatively lower 4.61% annualized return.

FAFSX

• 1D: -0.37%
• 1M: 3.56%
• YTD: 1.94%
• 6M: 0.32%
• 1Y: 13.77%
• 3Y*: 23.84%
• 5Y*: 13.01%
• 10Y*: 13.79%

FLC

• 1D: -0.54%
• 1M: -0.77%
• YTD: -1.76%
• 6M: -1.32%
• 1Y: 6.69%
• 3Y*: 12.62%
• 5Y*: -0.36%
• 10Y*: 4.61%

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

FAFSX vs. FLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAFSX Fidelity Advisor Financial Services Fund Class M	1.94%	14.61%	38.47%	13.74%	-9.15%	32.60%	-0.54%	33.44%	-16.30%	20.14%
FLC Flaherty & Crumrine Total Return Fund Inc	-1.76%	12.38%	23.05%	-0.83%	-25.11%	2.82%	14.12%	38.65%	-14.14%	17.00%

Correlation

The correlation between FAFSX and FLC is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Oct 9, 2003	0.31

The correlation between FAFSX and FLC shifts across timeframes, from 0.29 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FAFSX vs. FLC — Risk / Return Rank

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

FAFSX

FAFSX Risk / Return Rank: 12
FAFSX Sharpe Ratio Rank: 12
FAFSX Sortino Ratio Rank: 11
FAFSX Omega Ratio Rank: 11
FAFSX Calmar Ratio Rank: 12
FAFSX Martin Ratio Rank: 11

FLC

FLC Risk / Return Rank: 11
FLC Sharpe Ratio Rank: 13
FLC Sortino Ratio Rank: 11
FLC Omega Ratio Rank: 13
FLC Calmar Ratio Rank: 9
FLC Martin Ratio Rank: 9

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.

FAFSX vs. FLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Financial Services Fund Class M (FAFSX) and Flaherty & Crumrine Total Return Fund Inc (FLC). 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.

	FAFSX	FLC	Difference
Sharpe ratio: Return per unit of total volatility	0.88	0.93	-0.05
Sortino ratio: Return per unit of downside risk	1.28	1.29	-0.01
Omega ratio: Gain probability vs. loss probability	1.16	1.17	-0.01
Calmar ratio: Return relative to maximum drawdown	1.08	0.81	+0.27
Martin ratio: Return relative to average drawdown	3.05	2.50	+0.55

FAFSX vs. FLC - Sharpe Ratio Comparison

The current FAFSX Sharpe Ratio is 0.88, which is comparable to the FLC Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of FAFSX and FLC, 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

FAFSX vs. FLC - Drawdown Comparison

The maximum FAFSX drawdown since its inception was -75.78%, roughly equal to the maximum FLC drawdown of -76.79%. Use the drawdown chart below to compare losses from any high point for FAFSX and FLC.

Drawdown Indicators

	FAFSX	FLC	Difference
Max Drawdown Largest peak-to-trough decline	-75.78%	-76.79%	+1.01%
Max Drawdown (1Y) Largest decline over 1 year	-13.10%	-8.34%	-4.76%
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	-11.87%	-7.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.33%	-40.14%	+14.81%
Max Drawdown (10Y) Largest decline over 10 years	-46.03%	-55.27%	+9.24%
Current Drawdown Current decline from peak	-1.18%	-5.16%	+3.98%
Average Drawdown Average peak-to-trough decline	-18.01%	-10.85%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.63%	2.68%	+1.95%

Volatility

FAFSX vs. FLC - Volatility Comparison

Fidelity Advisor Financial Services Fund Class M (FAFSX) has a higher volatility of 4.51% compared to Flaherty & Crumrine Total Return Fund Inc (FLC) at 1.76%. This indicates that FAFSX's price experiences larger fluctuations and is considered to be riskier than FLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAFSX	FLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	1.76%	+2.75%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	6.13%	+6.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	7.21%	+8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.01%	14.07%	+6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	22.04%	+1.82%

FAFSX vs. FLC - Expense Ratio Comparison

FAFSX has a 1.28% expense ratio, which is lower than FLC's 1.64% expense ratio.

Dividends

FAFSX vs. FLC - Dividend Comparison

FAFSX's dividend yield for the trailing twelve months is around 6.68%, less than FLC's 7.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAFSX Fidelity Advisor Financial Services Fund Class M	6.68%	6.81%	9.29%	2.09%	5.75%	4.06%	2.24%	0.98%	3.73%	0.06%	0.11%	0.41%
FLC Flaherty & Crumrine Total Return Fund Inc	7.44%	6.81%	6.62%	7.38%	8.95%	6.86%	6.27%	6.31%	8.34%	7.22%	8.20%	8.51%

Frequently Asked Questions

Can I hold both FAFSX and FLC in my portfolio?

FAFSX and FLC have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAFSX or FLC?

FAFSX has higher volatility (4.51%) compared to FLC (1.76%). In terms of maximum drawdown, FAFSX dropped -75.78% vs FLC's -76.79%.

Which has better risk-adjusted returns?

FLC currently has the higher Sharpe Ratio (0.93 vs 0.88), 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.