FCCVX vs. DPIIX

Last updated Jun 4, 2026

FCCVX (Fidelity Advisor Convertible Securities Fund Class C) and DPIIX (Destra Flaherty & Crumrine Preferred and Income Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, FCCVX returned 12.17%/yr vs 4.62%/yr for DPIIX. At a 0.41 correlation, their price movements are largely independent. FCCVX charges 1.74%/yr vs 1.20%/yr for DPIIX.

Performance

FCCVX vs. DPIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Convertible Securities Fund Class C (FCCVX) and Destra Flaherty & Crumrine Preferred and Income Fund (DPIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCCVX achieves a 24.86% return, which is significantly higher than DPIIX's 1.53% return. Over the past 10 years, FCCVX has outperformed DPIIX with an annualized return of 12.17%, while DPIIX has yielded a comparatively lower 4.62% annualized return.

FCCVX

• 1D: 1.15%
• 1M: 7.30%
• YTD: 24.86%
• 6M: 24.23%
• 1Y: 43.01%
• 3Y*: 18.48%
• 5Y*: 8.56%
• 10Y*: 12.17%

DPIIX

• 1D: 0.00%
• 1M: 0.37%
• YTD: 1.53%
• 6M: 2.10%
• 1Y: 8.00%
• 3Y*: 9.41%
• 5Y*: 2.61%
• 10Y*: 4.62%

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

FCCVX vs. DPIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCCVX Fidelity Advisor Convertible Securities Fund Class C	24.86%	17.04%	7.28%	10.24%	-16.22%	8.77%	41.00%	27.26%	-2.32%	8.22%
DPIIX Destra Flaherty & Crumrine Preferred and Income Fund	1.53%	7.85%	11.39%	5.94%	-13.68%	4.89%	5.82%	18.60%	-5.62%	11.88%

Correlation

The correlation between FCCVX and DPIIX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011	0.41

Return for Risk

FCCVX vs. DPIIX — Risk / Return Rank

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

FCCVX

FCCVX Risk / Return Rank: 88
FCCVX Sharpe Ratio Rank: 90
FCCVX Sortino Ratio Rank: 81
FCCVX Omega Ratio Rank: 78
FCCVX Calmar Ratio Rank: 96
FCCVX Martin Ratio Rank: 96

DPIIX

DPIIX Risk / Return Rank: 89
DPIIX Sharpe Ratio Rank: 98
DPIIX Sortino Ratio Rank: 97
DPIIX Omega Ratio Rank: 97
DPIIX Calmar Ratio Rank: 75
DPIIX Martin Ratio Rank: 78

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.

FCCVX vs. DPIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Convertible Securities Fund Class C (FCCVX) and Destra Flaherty & Crumrine Preferred and Income Fund (DPIIX). 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.

	FCCVX	DPIIX	Difference
Sharpe ratio Return per unit of total volatility	2.99	3.85	-0.86
Sortino ratio Return per unit of downside risk	3.85	5.94	-2.09
Omega ratio Gain probability vs. loss probability	1.51	1.91	-0.40
Calmar ratio Return relative to maximum drawdown	6.14	3.42	+2.72
Martin ratio Return relative to average drawdown	23.77	14.65	+9.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCCVX vs. DPIIX - Sharpe Ratio Comparison

The current FCCVX Sharpe Ratio is 2.99, which is comparable to the DPIIX Sharpe Ratio of 3.85. The chart below compares the historical Sharpe Ratios of FCCVX and DPIIX, 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

	FCCVX	DPIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	3.85	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.51	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.59	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.78	+0.17

Drawdowns

FCCVX vs. DPIIX - Drawdown Comparison

The maximum FCCVX drawdown since its inception was -25.13%, smaller than the maximum DPIIX drawdown of -29.92%. Use the drawdown chart below to compare losses from any high point for FCCVX and DPIIX.

Drawdown Indicators

	FCCVX	DPIIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.13%	-29.92%	+4.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.21%	-2.39%	-4.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.98%	-4.26%	-14.72%
Max Drawdown (5Y) Largest decline over 5 years	-24.66%	-19.76%	-4.90%
Max Drawdown (10Y) Largest decline over 10 years	-25.13%	-29.92%	+4.79%
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-6.19%	-2.75%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	0.56%	+1.30%

Volatility

FCCVX vs. DPIIX - Volatility Comparison

Fidelity Advisor Convertible Securities Fund Class C (FCCVX) has a higher volatility of 4.85% compared to Destra Flaherty & Crumrine Preferred and Income Fund (DPIIX) at 0.71%. This indicates that FCCVX's price experiences larger fluctuations and is considered to be riskier than DPIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCCVX	DPIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	0.71%	+4.14%
Volatility (6M) Calculated over the trailing 6-month period	11.83%	1.72%	+10.11%
Volatility (1Y) Calculated over the trailing 1-year period	14.82%	2.12%	+12.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	5.13%	+8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	7.81%	+5.83%

FCCVX vs. DPIIX - Expense Ratio Comparison

FCCVX has a 1.74% expense ratio, which is higher than DPIIX's 1.20% expense ratio.

Dividends

FCCVX vs. DPIIX - Dividend Comparison

FCCVX's dividend yield for the trailing twelve months is around 8.06%, more than DPIIX's 5.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DPIIX Destra Flaherty & Crumrine Preferred and Income Fund	5.57%	5.03%	3.98%	5.17%	4.89%	3.87%	4.55%	4.81%	6.27%	4.92%	4.68%	4.52%
FCCVX Fidelity Advisor Convertible Securities Fund Class C	8.06%	10.47%	1.32%	1.12%	2.62%	19.63%	9.96%	2.31%	8.75%	3.35%	3.85%	9.24%

Frequently Asked Questions

Can I hold both FCCVX and DPIIX in my portfolio?

FCCVX and DPIIX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCCVX or DPIIX?

FCCVX has higher volatility (4.85%) compared to DPIIX (0.71%). In terms of maximum drawdown, FCCVX dropped -25.13% vs DPIIX's -29.92%.

Which has better risk-adjusted returns?

DPIIX currently has the higher Sharpe Ratio (3.85 vs 2.99), 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.