FASEX vs. FIUSX

Last updated Jun 4, 2026

FASEX (Nuveen Mid Cap Value Fund) and FIUSX (Delaware Opportunity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FASEX returned 10.97%/yr vs 11.06%/yr for FIUSX. Their correlation of 0.88 suggests significant overlap in exposure. FASEX charges 1.16%/yr vs 1.15%/yr for FIUSX.

Performance

FASEX vs. FIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Mid Cap Value Fund (FASEX) and Delaware Opportunity Fund (FIUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FASEX achieves a 17.58% return, which is significantly lower than FIUSX's 18.81% return. Both investments have delivered pretty close results over the past 10 years, with FASEX having a 10.97% annualized return and FIUSX not far ahead at 11.06%.

FASEX

• 1D: 1.68%
• 1M: 3.56%
• YTD: 17.58%
• 6M: 17.64%
• 1Y: 30.46%
• 3Y*: 16.66%
• 5Y*: 9.31%
• 10Y*: 10.97%

FIUSX

• 1D: 1.57%
• 1M: 2.54%
• YTD: 18.81%
• 6M: 18.48%
• 1Y: 34.10%
• 3Y*: 20.06%
• 5Y*: 10.71%
• 10Y*: 11.06%

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

FASEX vs. FIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FASEX Nuveen Mid Cap Value Fund	17.58%	9.68%	10.40%	14.20%	-10.63%	34.84%	1.19%	26.68%	-13.00%	19.23%
FIUSX Delaware Opportunity Fund	18.81%	12.60%	14.07%	11.68%	-9.62%	30.95%	0.88%	29.58%	-15.71%	18.67%

Correlation

The correlation between FASEX and FIUSX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 25, 1992	0.88

The correlation between FASEX and FIUSX has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

Return for Risk

FASEX vs. FIUSX — Risk / Return Rank

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

FASEX

FASEX Risk / Return Rank: 70
FASEX Sharpe Ratio Rank: 63
FASEX Sortino Ratio Rank: 62
FASEX Omega Ratio Rank: 53
FASEX Calmar Ratio Rank: 88
FASEX Martin Ratio Rank: 84

FIUSX

FIUSX Risk / Return Rank: 82
FIUSX Sharpe Ratio Rank: 80
FIUSX Sortino Ratio Rank: 78
FIUSX Omega Ratio Rank: 68
FIUSX Calmar Ratio Rank: 93
FIUSX Martin Ratio Rank: 93

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.

FASEX vs. FIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Mid Cap Value Fund (FASEX) and Delaware Opportunity Fund (FIUSX). 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.

	FASEX	FIUSX	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.60	-0.26
Sortino ratio: Return per unit of downside risk	3.30	3.72	-0.42
Omega ratio: Gain probability vs. loss probability	1.40	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	4.35	5.32	-0.96
Martin ratio: Return relative to average drawdown	15.87	19.83	-3.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FASEX vs. FIUSX - Sharpe Ratio Comparison

The current FASEX Sharpe Ratio is 2.33, which is comparable to the FIUSX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of FASEX and FIUSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FASEX	FIUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.60	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.59	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.54	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.45	+0.07

Drawdowns

FASEX vs. FIUSX - Drawdown Comparison

The maximum FASEX drawdown since its inception was -55.57%, roughly equal to the maximum FIUSX drawdown of -56.30%. Use the drawdown chart below to compare losses from any high point for FASEX and FIUSX.

Drawdown Indicators

	FASEX	FIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-55.57%	-56.30%	+0.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-6.75%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-22.26%	-21.69%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-22.26%	-21.69%	-0.57%
Max Drawdown (10Y) Largest decline over 10 years	-44.56%	-46.38%	+1.82%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.93%	-9.46%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.80%	+0.21%

Volatility

FASEX vs. FIUSX - Volatility Comparison

Nuveen Mid Cap Value Fund (FASEX) and Delaware Opportunity Fund (FIUSX) have volatilities of 4.26% and 4.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FASEX	FIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.26%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	10.46%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	13.76%	13.81%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	18.17%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	20.58%	-0.37%

FASEX vs. FIUSX - Expense Ratio Comparison

FASEX has a 1.16% expense ratio, which is higher than FIUSX's 1.15% expense ratio.

Dividends

FASEX vs. FIUSX - Dividend Comparison

FASEX's dividend yield for the trailing twelve months is around 12.48%, more than FIUSX's 9.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASEX Nuveen Mid Cap Value Fund	12.48%	14.67%	5.29%	3.12%	6.32%	4.02%	1.06%	0.89%	4.48%	7.93%	3.67%	3.49%
FIUSX Delaware Opportunity Fund	9.71%	11.53%	12.68%	2.85%	8.96%	5.62%	1.60%	40.65%	12.11%	6.00%	4.23%	1.14%

Frequently Asked Questions

Can I hold both FASEX and FIUSX in my portfolio?

With a correlation of 0.95, FASEX and FIUSX 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.

Which is riskier, FASEX or FIUSX?

FIUSX has higher volatility (4.26%) compared to FASEX (4.26%). In terms of maximum drawdown, FASEX dropped -55.57% vs FIUSX's -56.30%.

Which has better risk-adjusted returns?

FIUSX currently has the higher Sharpe Ratio (2.60 vs 2.33), 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.