FASPX vs. FIUSX

Last updated Jun 24, 2026

FASPX (Fidelity Advisor Value Strategies Fund Class M) and FIUSX (Delaware Opportunity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FASPX returned 11.34%/yr vs 11.60%/yr for FIUSX. Their correlation of 0.88 suggests significant overlap in exposure. FASPX charges 1.37%/yr vs 1.15%/yr for FIUSX.

Performance

FASPX vs. FIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Strategies Fund Class M (FASPX) 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, FASPX achieves a 23.85% return, which is significantly higher than FIUSX's 20.12% return. Both investments have delivered pretty close results over the past 10 years, with FASPX having a 11.34% annualized return and FIUSX not far ahead at 11.60%.

FASPX

• 1D: 0.07%
• 1M: 4.47%
• YTD: 23.85%
• 6M: 22.48%
• 1Y: 40.27%
• 3Y*: 15.00%
• 5Y*: 9.12%
• 10Y*: 11.34%

FIUSX

• 1D: 1.03%
• 1M: 2.91%
• YTD: 20.12%
• 6M: 18.56%
• 1Y: 34.46%
• 3Y*: 20.30%
• 5Y*: 11.57%
• 10Y*: 11.60%

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

FASPX vs. FIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FASPX Fidelity Advisor Value Strategies Fund Class M	23.85%	7.76%	-2.60%	19.93%	-7.82%	32.65%	7.70%	33.85%	-17.27%	17.34%
FIUSX Delaware Opportunity Fund	20.12%	12.60%	14.07%	11.68%	-9.62%	30.95%	0.88%	29.58%	-15.71%	18.67%

Correlation

The correlation between FASPX and FIUSX 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 (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 24, 1992	0.88

The correlation between FASPX and FIUSX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

FASPX vs. FIUSX — Risk / Return Rank

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

FASPX

FASPX Risk / Return Rank: 79
FASPX Sharpe Ratio Rank: 78
FASPX Sortino Ratio Rank: 77
FASPX Omega Ratio Rank: 63
FASPX Calmar Ratio Rank: 89
FASPX Martin Ratio Rank: 87

FIUSX

FIUSX Risk / Return Rank: 87
FIUSX Sharpe Ratio Rank: 85
FIUSX Sortino Ratio Rank: 83
FIUSX Omega Ratio Rank: 76
FIUSX Calmar Ratio Rank: 95
FIUSX Martin Ratio Rank: 95

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.

FASPX vs. FIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Strategies Fund Class M (FASPX) 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.

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.

	FASPX	FIUSX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.57	-0.18
Sortino ratio: Return per unit of downside risk	3.36	3.66	-0.29
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	4.20	5.36	-1.16
Martin ratio: Return relative to average drawdown	15.44	19.83	-4.39

FASPX vs. FIUSX - Sharpe Ratio Comparison

The current FASPX Sharpe Ratio is 2.39, which is comparable to the FIUSX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of FASPX 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.

Drawdowns

FASPX vs. FIUSX - Drawdown Comparison

The maximum FASPX drawdown since its inception was -70.11%, which is greater than FIUSX's maximum drawdown of -56.30%. Use the drawdown chart below to compare losses from any high point for FASPX and FIUSX.

Drawdown Indicators

	FASPX	FIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-70.11%	-56.30%	-13.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-6.75%	-3.09%
Max Drawdown (3Y) Largest decline over 3 years	-34.53%	-21.69%	-12.84%
Max Drawdown (5Y) Largest decline over 5 years	-34.53%	-21.69%	-12.84%
Max Drawdown (10Y) Largest decline over 10 years	-48.02%	-46.38%	-1.64%
Current Drawdown Current decline from peak	-0.42%	-0.05%	-0.37%
Average Drawdown Average peak-to-trough decline	-9.82%	-9.44%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	1.82%	+0.85%

Volatility

FASPX vs. FIUSX - Volatility Comparison

Fidelity Advisor Value Strategies Fund Class M (FASPX) has a higher volatility of 4.93% compared to Delaware Opportunity Fund (FIUSX) at 4.28%. This indicates that FASPX's price experiences larger fluctuations and is considered to be riskier than FIUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FASPX	FIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	4.28%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	10.73%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	14.11%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.70%	18.16%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.04%	20.60%	+1.44%

FASPX vs. FIUSX - Expense Ratio Comparison

FASPX has a 1.37% expense ratio, which is higher than FIUSX's 1.15% expense ratio.

Dividends

FASPX vs. FIUSX - Dividend Comparison

FASPX's dividend yield for the trailing twelve months is around 7.53%, less than FIUSX's 9.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASPX Fidelity Advisor Value Strategies Fund Class M	7.53%	9.32%	0.00%	2.40%	1.93%	7.80%	0.55%	4.98%	15.67%	7.26%	21.61%	0.80%
FIUSX Delaware Opportunity Fund	9.60%	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 FASPX and FIUSX in my portfolio?

FASPX and FIUSX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FASPX or FIUSX?

FASPX has higher volatility (4.93%) compared to FIUSX (4.28%). In terms of maximum drawdown, FASPX dropped -70.11% vs FIUSX's -56.30%.

Which has better risk-adjusted returns?

FIUSX currently has the higher Sharpe Ratio (2.57 vs 2.38), 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.