FCLIX vs. FXAIX

Last updated Jun 4, 2026

FCLIX (Fidelity Advisor Industrials Fund I Class) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FCLIX is a Industrials Equities fund managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FCLIX returned 14.09%/yr vs 15.66%/yr for FXAIX. Their correlation of 0.85 suggests significant overlap in exposure. FCLIX charges 0.75%/yr vs 0.02%/yr for FXAIX.

Performance

FCLIX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Industrials Fund I Class (FCLIX) 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, FCLIX achieves a 13.68% return, which is significantly higher than FXAIX's 11.71% return. Over the past 10 years, FCLIX has underperformed FXAIX with an annualized return of 14.09%, while FXAIX has yielded a comparatively higher 15.66% annualized return.

FCLIX

• 1D: 0.99%
• 1M: 1.43%
• YTD: 13.68%
• 6M: 14.82%
• 1Y: 26.35%
• 3Y*: 29.62%
• 5Y*: 16.55%
• 10Y*: 14.09%

FXAIX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.75%
• 5Y*: 14.28%
• 10Y*: 15.66%

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

FCLIX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCLIX Fidelity Advisor Industrials Fund I Class	13.68%	24.80%	28.57%	22.99%	-10.41%	16.61%	11.48%	28.14%	-15.58%	19.30%
FXAIX Fidelity 500 Index Fund	11.71%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FCLIX and FXAIX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.85

The correlation between FCLIX and FXAIX shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FCLIX vs. FXAIX — Risk / Return Rank

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

FCLIX

FCLIX Risk / Return Rank: 31
FCLIX Sharpe Ratio Rank: 28
FCLIX Sortino Ratio Rank: 29
FCLIX Omega Ratio Rank: 25
FCLIX Calmar Ratio Rank: 32
FCLIX Martin Ratio Rank: 40

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX 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.

FCLIX vs. FXAIX - Risk-Adjusted Trends Comparison

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

	FCLIX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	2.52	-0.99
Sortino ratio: Return per unit of downside risk	2.25	3.42	-1.18
Omega ratio: Gain probability vs. loss probability	1.26	1.46	-0.20
Calmar ratio: Return relative to maximum drawdown	2.13	3.36	-1.23
Martin ratio: Return relative to average drawdown	8.65	15.70	-7.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCLIX vs. FXAIX - Sharpe Ratio Comparison

The current FCLIX Sharpe Ratio is 1.53, which is lower than the FXAIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FCLIX 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.

Sharpe Ratios by Period

	FCLIX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.53	2.52	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.85	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.87	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.82	-0.27

Drawdowns

FCLIX vs. FXAIX - Drawdown Comparison

The maximum FCLIX drawdown since its inception was -60.76%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FCLIX and FXAIX.

Drawdown Indicators

	FCLIX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.76%	-33.79%	-26.97%
Max Drawdown (1Y) Largest decline over 1 year	-13.09%	-8.89%	-4.20%
Max Drawdown (3Y) Largest decline over 3 years	-21.26%	-18.76%	-2.50%
Max Drawdown (5Y) Largest decline over 5 years	-26.34%	-24.50%	-1.84%
Max Drawdown (10Y) Largest decline over 10 years	-42.69%	-33.79%	-8.90%
Current Drawdown Current decline from peak	-2.44%	0.00%	-2.44%
Average Drawdown Average peak-to-trough decline	-7.68%	-3.79%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	1.90%	+1.32%

Volatility

FCLIX vs. FXAIX - Volatility Comparison

Fidelity Advisor Industrials Fund I Class (FCLIX) has a higher volatility of 5.96% compared to Fidelity 500 Index Fund (FXAIX) at 2.83%. This indicates that FCLIX'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

	FCLIX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	2.83%	+3.13%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	8.97%	+6.11%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	11.86%	+6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	16.91%	+3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.50%	18.07%	+3.43%

FCLIX vs. FXAIX - Expense Ratio Comparison

FCLIX has a 0.75% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FCLIX vs. FXAIX - Dividend Comparison

FCLIX's dividend yield for the trailing twelve months is around 1.39%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCLIX Fidelity Advisor Industrials Fund I Class	1.39%	1.58%	8.07%	8.08%	3.30%	20.72%	0.55%	7.31%	11.97%	2.66%	5.69%	9.05%
FXAIX Fidelity 500 Index Fund	1.03%	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 FCLIX and FXAIX in my portfolio?

FCLIX and FXAIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCLIX or FXAIX?

FCLIX has higher volatility (5.96%) compared to FXAIX (2.83%). In terms of maximum drawdown, FCLIX dropped -60.76% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.52 vs 1.53), 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.