FCLAX vs. FCLIX

Last updated Jun 24, 2026

FCLAX (Fidelity Advisor Industrials Fund Class A) and FCLIX (Fidelity Advisor Industrials Fund I Class) are both Industrials Equities funds from Fidelity. Over the past 10 years, FCLAX returned 14.84%/yr vs 15.12%/yr for FCLIX. With a 1.00 correlation, they move nearly in lockstep. FCLAX charges 1.02%/yr vs 0.75%/yr for FCLIX.

Performance

FCLAX vs. FCLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Industrials Fund Class A (FCLAX) and Fidelity Advisor Industrials Fund I Class (FCLIX). 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 FCLAX having a 20.46% return and FCLIX slightly higher at 20.61%. Both investments have delivered pretty close results over the past 10 years, with FCLAX having a 14.84% annualized return and FCLIX not far ahead at 15.12%.

FCLAX

• 1D: 0.71%
• 1M: 7.93%
• YTD: 20.46%
• 6M: 18.52%
• 1Y: 33.31%
• 3Y*: 30.99%
• 5Y*: 18.28%
• 10Y*: 14.84%

FCLIX

• 1D: 0.71%
• 1M: 7.95%
• YTD: 20.61%
• 6M: 18.68%
• 1Y: 33.66%
• 3Y*: 31.32%
• 5Y*: 18.59%
• 10Y*: 15.12%

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

FCLAX vs. FCLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCLAX Fidelity Advisor Industrials Fund Class A	20.46%	24.48%	28.24%	22.64%	-10.64%	16.27%	11.17%	27.81%	-15.83%	19.28%
FCLIX Fidelity Advisor Industrials Fund I Class	20.61%	24.80%	28.57%	22.99%	-10.41%	16.61%	11.48%	28.14%	-15.58%	19.30%

Correlation

The correlation between FCLAX and FCLIX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Aug 30, 1996	1.00

The correlation between FCLAX and FCLIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FCLAX vs. FCLIX — Risk / Return Rank

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

FCLAX

FCLAX Risk / Return Rank: 49
FCLAX Sharpe Ratio Rank: 47
FCLAX Sortino Ratio Rank: 46
FCLAX Omega Ratio Rank: 40
FCLAX Calmar Ratio Rank: 55
FCLAX Martin Ratio Rank: 58

FCLIX

FCLIX Risk / Return Rank: 50
FCLIX Sharpe Ratio Rank: 48
FCLIX Sortino Ratio Rank: 47
FCLIX Omega Ratio Rank: 41
FCLIX Calmar Ratio Rank: 56
FCLIX Martin Ratio Rank: 59

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.

FCLAX vs. FCLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Industrials Fund Class A (FCLAX) and Fidelity Advisor Industrials Fund I Class (FCLIX). 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.

	FCLAX	FCLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.88	-0.02
Sortino ratio: Return per unit of downside risk	2.64	2.66	-0.03
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.72	2.75	-0.03
Martin ratio: Return relative to average drawdown	10.95	11.10	-0.15

FCLAX vs. FCLIX - Sharpe Ratio Comparison

The current FCLAX Sharpe Ratio is 1.86, which is comparable to the FCLIX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FCLAX and FCLIX, 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

FCLAX vs. FCLIX - Drawdown Comparison

The maximum FCLAX drawdown since its inception was -60.95%, roughly equal to the maximum FCLIX drawdown of -60.76%. Use the drawdown chart below to compare losses from any high point for FCLAX and FCLIX.

Drawdown Indicators

	FCLAX	FCLIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.95%	-60.76%	-0.19%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.09%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-21.26%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	-26.34%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	-42.71%	-42.69%	-0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.79%	-7.67%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.23%	+0.01%

Volatility

FCLAX vs. FCLIX - Volatility Comparison

Fidelity Advisor Industrials Fund Class A (FCLAX) and Fidelity Advisor Industrials Fund I Class (FCLIX) have volatilities of 6.61% and 6.60%, 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

	FCLAX	FCLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	6.60%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	15.63%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	19.13%	19.11%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	20.98%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	21.58%	+0.01%

FCLAX vs. FCLIX - Expense Ratio Comparison

FCLAX has a 1.02% expense ratio, which is higher than FCLIX's 0.75% expense ratio.

Dividends

FCLAX vs. FCLIX - Dividend Comparison

FCLAX's dividend yield for the trailing twelve months is around 1.44%, more than FCLIX's 1.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCLAX Fidelity Advisor Industrials Fund Class A	1.44%	1.73%	8.10%	8.69%	3.46%	21.93%	0.59%	7.50%	12.29%	2.79%	5.69%	9.17%
FCLIX Fidelity Advisor Industrials Fund I Class	1.31%	1.58%	8.07%	8.08%	3.30%	20.72%	0.55%	7.31%	11.97%	2.66%	5.69%	9.05%

Frequently Asked Questions

Can I hold both FCLAX and FCLIX in my portfolio?

With a correlation of 1.00, FCLAX and FCLIX 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, FCLAX or FCLIX?

FCLAX has higher volatility (6.61%) compared to FCLIX (6.60%). In terms of maximum drawdown, FCLAX dropped -60.95% vs FCLIX's -60.76%.

Which has better risk-adjusted returns?

FCLIX currently has the higher Sharpe Ratio (1.88 vs 1.86), 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.