FBRNX vs. FXAIX

Last updated Jun 23, 2026

FBRNX (Fidelity Advisor Stock Selector All Cap Fund Class I) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FBRNX is a Large Cap Growth Equities fund managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FBRNX returned 15.42%/yr vs 15.58%/yr for FXAIX. With a 0.98 correlation, they move nearly in lockstep. FBRNX charges 0.62%/yr vs 0.02%/yr for FXAIX.

Performance

FBRNX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBRNX achieves a 15.51% return, which is significantly higher than FXAIX's 10.19% return. Both investments have delivered pretty close results over the past 10 years, with FBRNX having a 15.42% annualized return and FXAIX not far ahead at 15.58%.

FBRNX

• 1D: 1.43%
• 1M: 1.83%
• YTD: 15.51%
• 6M: 15.30%
• 1Y: 35.75%
• 3Y*: 21.74%
• 5Y*: 13.09%
• 10Y*: 15.42%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

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

FBRNX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBRNX Fidelity Advisor Stock Selector All Cap Fund Class I	15.51%	18.84%	19.74%	26.90%	-19.59%	22.96%	24.89%	32.20%	-8.66%	24.44%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FBRNX and FXAIX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.98

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

Return for Risk

FBRNX vs. FXAIX — Risk / Return Rank

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

FBRNX

FBRNX Risk / Return Rank: 85
FBRNX Sharpe Ratio Rank: 87
FBRNX Sortino Ratio Rank: 79
FBRNX Omega Ratio Rank: 79
FBRNX Calmar Ratio Rank: 86
FBRNX Martin Ratio Rank: 93

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

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.

FBRNX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX) and Fidelity 500 Index Fund (FXAIX). 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.

	FBRNX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.17	+0.44
Sortino ratio: Return per unit of downside risk	3.45	2.93	+0.52
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	3.89	3.04	+0.85
Martin ratio: Return relative to average drawdown	18.29	13.75	+4.54

FBRNX vs. FXAIX - Sharpe Ratio Comparison

The current FBRNX Sharpe Ratio is 2.60, which is comparable to the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FBRNX and FXAIX, 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

FBRNX vs. FXAIX - Drawdown Comparison

The maximum FBRNX drawdown since its inception was -34.37%, roughly equal to the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FBRNX and FXAIX.

Drawdown Indicators

	FBRNX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.37%	-33.79%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-8.89%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.87%	-18.76%	-2.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.29%	-24.50%	-0.79%
Max Drawdown (10Y) Largest decline over 10 years	-34.37%	-33.79%	-0.58%
Current Drawdown Current decline from peak	-0.25%	-1.36%	+1.11%
Average Drawdown Average peak-to-trough decline	-4.42%	-3.79%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.96%	-0.01%

Volatility

FBRNX vs. FXAIX - Volatility Comparison

Fidelity Advisor Stock Selector All Cap Fund Class I (FBRNX) has a higher volatility of 5.46% compared to Fidelity 500 Index Fund (FXAIX) at 4.77%. This indicates that FBRNX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBRNX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	4.77%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	9.91%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	13.75%	12.47%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	17.01%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.62%	18.11%	+0.51%

FBRNX vs. FXAIX - Expense Ratio Comparison

FBRNX has a 0.62% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FBRNX vs. FXAIX - Dividend Comparison

FBRNX's dividend yield for the trailing twelve months is around 3.98%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBRNX Fidelity Advisor Stock Selector All Cap Fund Class I	3.98%	4.60%	4.66%	1.94%	0.35%	0.00%	5.15%	5.28%	4.39%	3.07%	0.99%	5.06%
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FBRNX and FXAIX in my portfolio?

With a correlation of 0.98, FBRNX and FXAIX 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, FBRNX or FXAIX?

FBRNX has higher volatility (5.46%) compared to FXAIX (4.77%). In terms of maximum drawdown, FBRNX dropped -34.37% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FBRNX currently has the higher Sharpe Ratio (2.60 vs 2.17), 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.