FCDIX vs. SWSSX

Last updated Jun 24, 2026

FCDIX (Fidelity Advisor Stock Selector Small Cap Fund Class I) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both Small Cap Blend Equities funds. Over the past 10 years, FCDIX returned 13.80%/yr vs 11.83%/yr for SWSSX. With a 0.97 correlation, they move nearly in lockstep. FCDIX charges 0.92%/yr vs 0.04%/yr for SWSSX.

Performance

FCDIX vs. SWSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector Small Cap Fund Class I (FCDIX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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 FCDIX having a 21.12% return and SWSSX slightly higher at 21.72%. Over the past 10 years, FCDIX has outperformed SWSSX with an annualized return of 13.80%, while SWSSX has yielded a comparatively lower 11.83% annualized return.

FCDIX

• 1D: 1.22%
• 1M: 5.10%
• YTD: 21.12%
• 6M: 18.34%
• 1Y: 42.17%
• 3Y*: 21.41%
• 5Y*: 10.76%
• 10Y*: 13.80%

SWSSX

• 1D: 0.83%
• 1M: 4.82%
• YTD: 21.72%
• 6M: 18.97%
• 1Y: 42.68%
• 3Y*: 19.85%
• 5Y*: 6.95%
• 10Y*: 11.83%

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

FCDIX vs. SWSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCDIX Fidelity Advisor Stock Selector Small Cap Fund Class I	21.12%	14.34%	14.47%	19.42%	-18.28%	24.75%	21.74%	30.46%	-8.94%	11.72%
SWSSX Schwab Small-Cap Index Fund-Select Shares	21.72%	12.88%	11.57%	17.07%	-20.43%	14.77%	20.12%	25.63%	-11.19%	14.76%

Correlation

The correlation between FCDIX and SWSSX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Apr 3, 2006	0.97

The correlation between FCDIX and SWSSX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

FCDIX vs. SWSSX — Risk / Return Rank

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

FCDIX

FCDIX Risk / Return Rank: 80
FCDIX Sharpe Ratio Rank: 79
FCDIX Sortino Ratio Rank: 76
FCDIX Omega Ratio Rank: 63
FCDIX Calmar Ratio Rank: 90
FCDIX Martin Ratio Rank: 91

SWSSX

SWSSX Risk / Return Rank: 72
SWSSX Sharpe Ratio Rank: 71
SWSSX Sortino Ratio Rank: 65
SWSSX Omega Ratio Rank: 53
SWSSX Calmar Ratio Rank: 88
SWSSX Martin Ratio Rank: 83

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.

FCDIX vs. SWSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector Small Cap Fund Class I (FCDIX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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.

	FCDIX	SWSSX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.26	+0.14
Sortino ratio: Return per unit of downside risk	3.34	3.07	+0.27
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	4.39	4.04	+0.34
Martin ratio: Return relative to average drawdown	16.89	14.31	+2.58

FCDIX vs. SWSSX - Sharpe Ratio Comparison

The current FCDIX Sharpe Ratio is 2.39, which is comparable to the SWSSX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FCDIX and SWSSX, 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

FCDIX vs. SWSSX - Drawdown Comparison

The maximum FCDIX drawdown since its inception was -65.39%, which is greater than SWSSX's maximum drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for FCDIX and SWSSX.

Drawdown Indicators

	FCDIX	SWSSX	Difference
Max Drawdown Largest peak-to-trough decline	-65.39%	-60.34%	-5.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-11.00%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	-27.50%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-30.56%	-31.93%	+1.37%
Max Drawdown (10Y) Largest decline over 10 years	-38.42%	-41.81%	+3.39%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.83%	-10.71%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	3.10%	-0.50%

Volatility

FCDIX vs. SWSSX - Volatility Comparison

Fidelity Advisor Stock Selector Small Cap Fund Class I (FCDIX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX) have volatilities of 6.14% and 6.39%, 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

	FCDIX	SWSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	6.39%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	13.99%	14.33%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	18.45%	19.75%	-1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.67%	22.68%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.91%	24.15%	-2.24%

FCDIX vs. SWSSX - Expense Ratio Comparison

FCDIX has a 0.92% expense ratio, which is higher than SWSSX's 0.04% expense ratio.

Dividends

FCDIX vs. SWSSX - Dividend Comparison

FCDIX's dividend yield for the trailing twelve months is around 0.60%, less than SWSSX's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCDIX Fidelity Advisor Stock Selector Small Cap Fund Class I	0.60%	0.72%	2.77%	0.24%	0.12%	10.79%	1.39%	1.84%	22.34%	10.40%	1.62%	7.07%
SWSSX Schwab Small-Cap Index Fund-Select Shares	1.06%	1.29%	1.66%	1.49%	1.32%	8.88%	2.55%	6.12%	10.45%	5.22%	4.10%	6.92%

Frequently Asked Questions

Can I hold both FCDIX and SWSSX in my portfolio?

With a correlation of 0.94, FCDIX and SWSSX 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, FCDIX or SWSSX?

SWSSX has higher volatility (6.39%) compared to FCDIX (6.14%). In terms of maximum drawdown, FCDIX dropped -65.39% vs SWSSX's -60.34%.

Which has better risk-adjusted returns?

FCDIX currently has the higher Sharpe Ratio (2.39 vs 2.26), 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.