FASOX vs. SMVTX

Last updated Jun 24, 2026

FASOX (Fidelity Advisor Value Strategies Fund Class I) and SMVTX (Virtus Ceredex Mid-Cap Value Equity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FASOX returned 11.78%/yr vs 12.97%/yr for SMVTX. Their correlation of 0.92 suggests significant overlap in exposure. FASOX charges 0.88%/yr vs 0.99%/yr for SMVTX.

Performance

FASOX vs. SMVTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Strategies Fund Class I (FASOX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FASOX having a 24.15% return and SMVTX slightly higher at 25.14%. Over the past 10 years, FASOX has underperformed SMVTX with an annualized return of 11.78%, while SMVTX has yielded a comparatively higher 12.97% annualized return.

FASOX

• 1D: 0.07%
• 1M: 4.51%
• YTD: 24.15%
• 6M: 22.76%
• 1Y: 40.94%
• 3Y*: 15.61%
• 5Y*: 9.68%
• 10Y*: 11.78%

SMVTX

• 1D: 1.17%
• 1M: 4.46%
• YTD: 25.14%
• 6M: 23.11%
• 1Y: 46.22%
• 3Y*: 24.75%
• 5Y*: 12.72%
• 10Y*: 12.97%

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

FASOX vs. SMVTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FASOX Fidelity Advisor Value Strategies Fund Class I	24.15%	8.28%	-2.00%	20.51%	-7.38%	33.31%	8.21%	34.49%	-16.90%	17.40%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	25.14%	17.58%	18.93%	10.94%	-13.89%	29.15%	-1.19%	33.14%	-8.01%	11.69%

Correlation

The correlation between FASOX and SMVTX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002	0.92

The correlation between FASOX and SMVTX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

FASOX vs. SMVTX — Risk / Return Rank

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

FASOX

FASOX Risk / Return Rank: 80
FASOX Sharpe Ratio Rank: 80
FASOX Sortino Ratio Rank: 78
FASOX Omega Ratio Rank: 65
FASOX Calmar Ratio Rank: 89
FASOX Martin Ratio Rank: 88

SMVTX

SMVTX Risk / Return Rank: 92
SMVTX Sharpe Ratio Rank: 94
SMVTX Sortino Ratio Rank: 89
SMVTX Omega Ratio Rank: 83
SMVTX Calmar Ratio Rank: 97
SMVTX 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.

FASOX vs. SMVTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Strategies Fund Class I (FASOX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). 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.

	FASOX	SMVTX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.97	-0.55
Sortino ratio: Return per unit of downside risk	3.41	3.97	-0.56
Omega ratio: Gain probability vs. loss probability	1.41	1.51	-0.10
Calmar ratio: Return relative to maximum drawdown	4.29	6.64	-2.35
Martin ratio: Return relative to average drawdown	15.79	24.05	-8.26

FASOX vs. SMVTX - Sharpe Ratio Comparison

The current FASOX Sharpe Ratio is 2.42, which is comparable to the SMVTX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of FASOX and SMVTX, 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

FASOX vs. SMVTX - Drawdown Comparison

The maximum FASOX drawdown since its inception was -69.86%, which is greater than SMVTX's maximum drawdown of -54.72%. Use the drawdown chart below to compare losses from any high point for FASOX and SMVTX.

Drawdown Indicators

	FASOX	SMVTX	Difference
Max Drawdown Largest peak-to-trough decline	-69.86%	-54.72%	-15.14%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-7.17%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-34.34%	-24.75%	-9.59%
Max Drawdown (5Y) Largest decline over 5 years	-34.34%	-25.44%	-8.90%
Max Drawdown (10Y) Largest decline over 10 years	-47.97%	-45.45%	-2.52%
Current Drawdown Current decline from peak	-0.41%	0.00%	-0.41%
Average Drawdown Average peak-to-trough decline	-9.69%	-8.22%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	1.97%	+0.68%

Volatility

FASOX vs. SMVTX - Volatility Comparison

The current volatility for Fidelity Advisor Value Strategies Fund Class I (FASOX) is 4.96%, while Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX) has a volatility of 6.13%. This indicates that FASOX experiences smaller price fluctuations and is considered to be less risky than SMVTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FASOX	SMVTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	6.13%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	12.63%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	16.04%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.68%	20.53%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.04%	20.70%	+1.34%

FASOX vs. SMVTX - Expense Ratio Comparison

FASOX has a 0.88% expense ratio, which is lower than SMVTX's 0.99% expense ratio.

Dividends

FASOX vs. SMVTX - Dividend Comparison

FASOX's dividend yield for the trailing twelve months is around 7.27%, less than SMVTX's 13.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASOX Fidelity Advisor Value Strategies Fund Class I	7.27%	9.03%	0.00%	2.74%	2.34%	7.97%	0.91%	5.21%	15.65%	7.00%	20.89%	1.24%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	13.95%	16.44%	15.96%	1.16%	6.75%	18.53%	2.52%	5.82%	14.47%	20.86%	3.61%	7.05%

Frequently Asked Questions

Can I hold both FASOX and SMVTX in my portfolio?

FASOX and SMVTX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FASOX or SMVTX?

SMVTX has higher volatility (6.13%) compared to FASOX (4.96%). In terms of maximum drawdown, FASOX dropped -69.86% vs SMVTX's -54.72%.

Which has better risk-adjusted returns?

SMVTX currently has the higher Sharpe Ratio (2.97 vs 2.42), 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.