FAVFX vs. FVCSX

Last updated Jun 4, 2026

FAVFX (Fidelity Advisor Value Fund Class A) and FVCSX (Fidelity Advisor Value Strategies Fund Class C) are both Mid Cap Value Equities funds from Fidelity. Over the past 10 years, FAVFX returned 11.81%/yr vs 9.66%/yr for FVCSX. With a 0.98 correlation, they move nearly in lockstep. FAVFX charges 1.15%/yr vs 1.92%/yr for FVCSX.

Performance

FAVFX vs. FVCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Fund Class A (FAVFX) and Fidelity Advisor Value Strategies Fund Class C (FVCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAVFX achieves a 16.59% return, which is significantly lower than FVCSX's 20.48% return. Over the past 10 years, FAVFX has outperformed FVCSX with an annualized return of 11.81%, while FVCSX has yielded a comparatively lower 9.66% annualized return.

FAVFX

• 1D: 0.31%
• 1M: 3.47%
• YTD: 16.59%
• 6M: 17.83%
• 1Y: 34.24%
• 3Y*: 18.60%
• 5Y*: 9.95%
• 10Y*: 11.81%

FVCSX

• 1D: 0.31%
• 1M: 3.38%
• YTD: 20.48%
• 6M: 22.00%
• 1Y: 38.90%
• 3Y*: 11.93%
• 5Y*: 6.45%
• 10Y*: 9.66%

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

FAVFX vs. FVCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAVFX Fidelity Advisor Value Fund Class A	16.59%	10.98%	10.08%	19.41%	-9.38%	34.72%	9.52%	31.39%	-18.02%	15.01%
FVCSX Fidelity Advisor Value Strategies Fund Class C	20.48%	7.23%	-6.69%	19.32%	-8.35%	31.94%	7.10%	33.09%	-17.58%	16.92%

Correlation

The correlation between FAVFX and FVCSX is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 4, 2005	0.98

The correlation between FAVFX and FVCSX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

FAVFX vs. FVCSX — Risk / Return Rank

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

FAVFX

FAVFX Risk / Return Rank: 64
FAVFX Sharpe Ratio Rank: 59
FAVFX Sortino Ratio Rank: 60
FAVFX Omega Ratio Rank: 51
FAVFX Calmar Ratio Rank: 81
FAVFX Martin Ratio Rank: 70

FVCSX

FVCSX Risk / Return Rank: 72
FVCSX Sharpe Ratio Rank: 70
FVCSX Sortino Ratio Rank: 68
FVCSX Omega Ratio Rank: 55
FVCSX Calmar Ratio Rank: 86
FVCSX Martin Ratio Rank: 82

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.

FAVFX vs. FVCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Fund Class A (FAVFX) and Fidelity Advisor Value Strategies Fund Class C (FVCSX). 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.

	FAVFX	FVCSX	Difference
Sharpe ratio Return per unit of total volatility	2.27	2.45	-0.18
Sortino ratio Return per unit of downside risk	3.26	3.47	-0.21
Omega ratio Gain probability vs. loss probability	1.40	1.41	-0.02
Calmar ratio Return relative to maximum drawdown	3.67	4.20	-0.53
Martin ratio Return relative to average drawdown	13.49	15.50	-2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAVFX vs. FVCSX - Sharpe Ratio Comparison

The current FAVFX Sharpe Ratio is 2.27, which is comparable to the FVCSX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FAVFX and FVCSX, 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

	FAVFX	FVCSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	2.45	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.31	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.44	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.29	+0.12

Drawdowns

FAVFX vs. FVCSX - Drawdown Comparison

The maximum FAVFX drawdown since its inception was -64.67%, smaller than the maximum FVCSX drawdown of -70.38%. Use the drawdown chart below to compare losses from any high point for FAVFX and FVCSX.

Drawdown Indicators

	FAVFX	FVCSX	Difference
Max Drawdown Largest peak-to-trough decline	-64.67%	-70.38%	+5.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.93%	-9.89%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-24.41%	-37.07%	+12.66%
Max Drawdown (5Y) Largest decline over 5 years	-24.41%	-37.07%	+12.66%
Max Drawdown (10Y) Largest decline over 10 years	-48.59%	-48.07%	-0.52%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.94%	-11.19%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.68%	+0.02%

Volatility

FAVFX vs. FVCSX - Volatility Comparison

Fidelity Advisor Value Fund Class A (FAVFX) and Fidelity Advisor Value Strategies Fund Class C (FVCSX) have volatilities of 4.18% 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

	FAVFX	FVCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	4.26%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	11.93%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.07%	16.99%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.49%	21.05%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	22.19%	-0.01%

FAVFX vs. FVCSX - Expense Ratio Comparison

FAVFX has a 1.15% expense ratio, which is lower than FVCSX's 1.92% expense ratio.

Dividends

FAVFX vs. FVCSX - Dividend Comparison

FAVFX's dividend yield for the trailing twelve months is around 7.11%, less than FVCSX's 10.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAVFX Fidelity Advisor Value Fund Class A	7.11%	8.29%	12.50%	0.81%	0.39%	4.47%	0.44%	3.05%	14.73%	3.23%	0.63%	1.85%
FVCSX Fidelity Advisor Value Strategies Fund Class C	10.85%	13.08%	0.00%	2.96%	2.23%	9.80%	0.33%	5.50%	18.83%	8.78%	25.66%	0.43%

Frequently Asked Questions

Can I hold both FAVFX and FVCSX in my portfolio?

With a correlation of 0.99, FAVFX and FVCSX 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, FAVFX or FVCSX?

FVCSX has higher volatility (4.26%) compared to FAVFX (4.18%). In terms of maximum drawdown, FAVFX dropped -64.67% vs FVCSX's -70.38%.

Which has better risk-adjusted returns?

FVCSX currently has the higher Sharpe Ratio (2.45 vs 2.27), 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.