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FALAX vs. ACIIX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FALAX vs. ACIIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Large Cap Fund Class A (FALAX) and American Century Equity Income Fund Class I (ACIIX).

FALAX is managed by Fidelity. It was launched on Sep 3, 1996. ACIIX is managed by American Century. It was launched on Jul 8, 1998.

Performance

FALAX vs. ACIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Large Cap Fund Class A (FALAX) and American Century Equity Income Fund Class I (ACIIX). The values are adjusted to include any dividend payments, if applicable.

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FALAX vs. ACIIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FALAX
Fidelity Advisor Large Cap Fund Class A		0.00%19.36%26.05%23.16%-8.16%25.49%8.56%31.37%-8.64%16.87%
ACIIX
American Century Equity Income Fund Class I		2.73%12.05%10.58%4.25%-2.96%17.16%1.19%24.50%-3.53%13.69%

Returns By Period

Over the past 10 years, FALAX has outperformed ACIIX with an annualized return of 14.35%, while ACIIX has yielded a comparatively lower 8.89% annualized return.

FALAX

1D
0.00%
1M
0.00%
YTD
0.00%
6M
-1.16%
1Y
22.36%
3Y*
20.31%
5Y*
13.75%
10Y*
14.35%

ACIIX

1D
0.00%
1M
-5.73%
YTD
2.73%
6M
4.62%
1Y
9.92%
3Y*
9.70%
5Y*
7.47%
10Y*
8.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Fidelity Advisor Large Cap Fund Class A

American Century Equity Income Fund Class I

Often compared with FALAX:
FALAX vs. VOOFALAX vs. FXAIXFALAX vs. TRLGXFALAX vs. SPYFALAX vs. FBGRXFALAX vs. EPGAXFALAX vs. HFCVX
Often compared with ACIIX:
ACIIX vs. SCHDACIIX vs. VEIPXACIIX vs. BRK-BACIIX vs. PRWCXACIIX vs. VWELXACIIX vs. COWZACIIX vs. JEPI

FALAX vs. ACIIX - Expense Ratio Comparison

FALAX has a 0.80% expense ratio, which is higher than ACIIX's 0.72% expense ratio.

FALAX
Fidelity Advisor Large Cap Fund Class A
ACIIX
American Century Equity Income Fund Class I

Return for Risk

FALAX vs. ACIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FALAX
FALAX Risk / Return Rank: 6969
Overall Rank
FALAX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
FALAX Sortino Ratio Rank: 8282
Sortino Ratio Rank
FALAX Omega Ratio Rank: 9393
Omega Ratio Rank
FALAX Calmar Ratio Rank: 4545
Calmar Ratio Rank
FALAX Martin Ratio Rank: 4646
Martin Ratio Rank
ACIIX
ACIIX Risk / Return Rank: 4545
Overall Rank
ACIIX Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
ACIIX Sortino Ratio Rank: 4747
Sortino Ratio Rank
ACIIX Omega Ratio Rank: 4444
Omega Ratio Rank
ACIIX Calmar Ratio Rank: 4444
Calmar Ratio Rank
ACIIX Martin Ratio Rank: 4343
Martin Ratio Rank
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.

FALAX vs. ACIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Large Cap Fund Class A (FALAX) and American Century Equity Income Fund Class I (ACIIX). 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.

FALAXACIIXDifference

Sharpe ratio

Return per unit of total volatility

1.46

0.93

+0.53

Sortino ratio

Return per unit of downside risk

2.08

1.35

+0.73

Omega ratio

Gain probability vs. loss probability

1.45

1.19

+0.26

Calmar ratio

Return relative to maximum drawdown

1.14

1.11

+0.03

Martin ratio

Return relative to average drawdown

4.62

4.37

+0.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FALAX vs. ACIIX - Sharpe Ratio Comparison

The current FALAX Sharpe Ratio is 1.46, which is higher than the ACIIX Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of FALAX and ACIIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FALAXACIIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.46

0.93

+0.53

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.85

0.70

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.78

0.67

+0.11

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.53

-0.07

Correlation

The correlation between FALAX and ACIIX is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FALAX vs. ACIIX - Dividend Comparison

FALAX's dividend yield for the trailing twelve months is around 6.03%, less than ACIIX's 10.28% yield.

TTM20252024202320222021202020192018201720162015
FALAX
Fidelity Advisor Large Cap Fund Class A		6.03%6.03%6.33%3.46%2.21%6.69%5.50%8.65%17.32%6.41%2.11%3.02%
ACIIX
American Century Equity Income Fund Class I		10.28%10.55%11.71%8.21%8.96%7.02%2.18%7.57%9.05%12.14%8.08%10.72%

Drawdowns

FALAX vs. ACIIX - Drawdown Comparison

The maximum FALAX drawdown since its inception was -63.41%, which is greater than ACIIX's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for FALAX and ACIIX.

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Drawdown Indicators

FALAXACIIXDifference

Max Drawdown

Largest peak-to-trough decline

-63.41%

-39.16%

-24.25%

Max Drawdown (1Y)

Largest decline over 1 year

-12.28%

-8.96%

-3.32%

Max Drawdown (5Y)

Largest decline over 5 years

-21.62%

-13.49%

-8.13%

Max Drawdown (10Y)

Largest decline over 10 years

-37.55%

-32.76%

-4.79%

Current Drawdown

Current decline from peak

-4.19%

-5.73%

+1.54%

Average Drawdown

Average peak-to-trough decline

-14.00%

-5.26%

-8.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.92%

2.30%

+1.62%

Volatility

FALAX vs. ACIIX - Volatility Comparison

The current volatility for Fidelity Advisor Large Cap Fund Class A (FALAX) is 0.00%, while American Century Equity Income Fund Class I (ACIIX) has a volatility of 2.76%. This indicates that FALAX experiences smaller price fluctuations and is considered to be less risky than ACIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FALAXACIIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

2.76%

-2.76%

Volatility (6M)

Calculated over the trailing 6-month period

5.85%

6.05%

-0.20%

Volatility (1Y)

Calculated over the trailing 1-year period

17.18%

11.61%

+5.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.55%

10.74%

+5.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.63%

13.37%

+5.26%