FCLAX vs. FCLTX

Last updated Jun 24, 2026

FCLAX (Fidelity Advisor Industrials Fund Class A) and FCLTX (Fidelity Advisor Industrials Fund Class M) are both Industrials Equities funds from Fidelity. Over the past 10 years, FCLAX returned 14.84%/yr vs 14.56%/yr for FCLTX. With a 1.00 correlation, they move nearly in lockstep. FCLAX charges 1.02%/yr vs 1.27%/yr for FCLTX.

Performance

FCLAX vs. FCLTX - 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 Class M (FCLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FCLAX having a 20.46% return and FCLTX slightly lower at 20.32%. Both investments have delivered pretty close results over the past 10 years, with FCLAX having a 14.84% annualized return and FCLTX not far behind at 14.56%.

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%

FCLTX

• 1D: 0.71%
• 1M: 7.91%
• YTD: 20.32%
• 6M: 18.38%
• 1Y: 32.99%
• 3Y*: 30.61%
• 5Y*: 17.95%
• 10Y*: 14.56%

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

FCLAX vs. FCLTX - 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%
FCLTX Fidelity Advisor Industrials Fund Class M	20.32%	24.14%	27.80%	22.34%	-10.87%	15.97%	10.89%	27.44%	-16.03%	19.25%

Correlation

The correlation between FCLAX and FCLTX 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 Jan 2, 2001	1.00

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

Return for Risk

FCLAX vs. FCLTX — 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

FCLTX

FCLTX Risk / Return Rank: 48
FCLTX Sharpe Ratio Rank: 46
FCLTX Sortino Ratio Rank: 45
FCLTX Omega Ratio Rank: 40
FCLTX Calmar Ratio Rank: 54
FCLTX Martin Ratio Rank: 57

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. FCLTX - 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 Class M (FCLTX). 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	FCLTX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.85	+0.02
Sortino ratio: Return per unit of downside risk	2.64	2.62	+0.02
Omega ratio: Gain probability vs. loss probability	1.32	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.72	2.69	+0.03
Martin ratio: Return relative to average drawdown	10.95	10.82	+0.13

FCLAX vs. FCLTX - Sharpe Ratio Comparison

The current FCLAX Sharpe Ratio is 1.86, which is comparable to the FCLTX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FCLAX and FCLTX, 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. FCLTX - Drawdown Comparison

The maximum FCLAX drawdown since its inception was -60.95%, roughly equal to the maximum FCLTX drawdown of -61.07%. Use the drawdown chart below to compare losses from any high point for FCLAX and FCLTX.

Drawdown Indicators

	FCLAX	FCLTX	Difference
Max Drawdown Largest peak-to-trough decline	-60.95%	-61.07%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.12%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	-21.35%	+0.04%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	-26.59%	+0.10%
Max Drawdown (10Y) Largest decline over 10 years	-42.71%	-42.73%	+0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.79%	-8.34%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.25%	-0.01%

Volatility

FCLAX vs. FCLTX - Volatility Comparison

Fidelity Advisor Industrials Fund Class A (FCLAX) and Fidelity Advisor Industrials Fund Class M (FCLTX) have volatilities of 6.61% and 6.62%, 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	FCLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	6.62%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	15.64%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	19.13%	19.13%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	20.96%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.59%	21.58%	+0.01%

FCLAX vs. FCLTX - Expense Ratio Comparison

FCLAX has a 1.02% expense ratio, which is lower than FCLTX's 1.27% expense ratio.

Dividends

FCLAX vs. FCLTX - Dividend Comparison

FCLAX's dividend yield for the trailing twelve months is around 1.44%, less than FCLTX's 1.51% 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%
FCLTX Fidelity Advisor Industrials Fund Class M	1.51%	1.82%	7.91%	8.95%	3.54%	22.27%	0.60%	7.40%	12.19%	2.81%	5.59%	9.09%

Frequently Asked Questions

Can I hold both FCLAX and FCLTX in my portfolio?

With a correlation of 1.00, FCLAX and FCLTX 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 FCLTX?

FCLTX has higher volatility (6.62%) compared to FCLAX (6.61%). In terms of maximum drawdown, FCLAX dropped -60.95% vs FCLTX's -61.07%.

Which has better risk-adjusted returns?

FCLAX currently has the higher Sharpe Ratio (1.86 vs 1.85), 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.