FCVCX vs. PMJIX

Last updated Jun 25, 2026

FCVCX (Fidelity Advisor Small Cap Value Fund Class C) and PMJIX (PIMCO RAE US Small Fund) are both Small Cap Value Equities funds. Over the past 10 years, FCVCX returned 10.69%/yr vs 13.98%/yr for PMJIX. Their correlation of 0.93 suggests significant overlap in exposure. FCVCX charges 2.02%/yr vs 0.50%/yr for PMJIX.

Performance

FCVCX vs. PMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Value Fund Class C (FCVCX) and PIMCO RAE US Small Fund (PMJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCVCX achieves a 22.62% return, which is significantly higher than PMJIX's 18.23% return. Over the past 10 years, FCVCX has underperformed PMJIX with an annualized return of 10.69%, while PMJIX has yielded a comparatively higher 13.98% annualized return.

FCVCX

• 1D: -0.48%
• 1M: 4.79%
• YTD: 22.62%
• 6M: 19.87%
• 1Y: 34.97%
• 3Y*: 17.35%
• 5Y*: 8.25%
• 10Y*: 10.69%

PMJIX

• 1D: -0.58%
• 1M: 3.85%
• YTD: 18.23%
• 6M: 14.97%
• 1Y: 33.78%
• 3Y*: 21.87%
• 5Y*: 10.58%
• 10Y*: 13.98%

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

FCVCX vs. PMJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCVCX Fidelity Advisor Small Cap Value Fund Class C	22.62%	6.93%	6.82%	16.65%	-13.97%	36.71%	9.98%	19.64%	-16.02%	11.11%
PMJIX PIMCO RAE US Small Fund	18.23%	5.11%	22.05%	19.77%	-4.62%	39.15%	6.95%	20.22%	-11.69%	9.22%

Correlation

The correlation between FCVCX and PMJIX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 5, 2015	0.93

The correlation between FCVCX and PMJIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FCVCX vs. PMJIX — Risk / Return Rank

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

FCVCX

FCVCX Risk / Return Rank: 70
FCVCX Sharpe Ratio Rank: 66
FCVCX Sortino Ratio Rank: 71
FCVCX Omega Ratio Rank: 56
FCVCX Calmar Ratio Rank: 84
FCVCX Martin Ratio Rank: 75

PMJIX

PMJIX Risk / Return Rank: 67
PMJIX Sharpe Ratio Rank: 58
PMJIX Sortino Ratio Rank: 59
PMJIX Omega Ratio Rank: 48
PMJIX Calmar Ratio Rank: 92
PMJIX Martin Ratio Rank: 79

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.

FCVCX vs. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Value Fund Class C (FCVCX) and PIMCO RAE US Small Fund (PMJIX). 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.

	FCVCX	PMJIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.03	0.00
Sortino ratio: Return per unit of downside risk	3.00	2.90	+0.10
Omega ratio: Gain probability vs. loss probability	1.35	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	3.52	4.61	-1.09
Martin ratio: Return relative to average drawdown	12.23	13.64	-1.41

FCVCX vs. PMJIX - Sharpe Ratio Comparison

The current FCVCX Sharpe Ratio is 2.03, which is comparable to the PMJIX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FCVCX and PMJIX, 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

FCVCX vs. PMJIX - Drawdown Comparison

The maximum FCVCX drawdown since its inception was -58.55%, which is greater than PMJIX's maximum drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for FCVCX and PMJIX.

Drawdown Indicators

	FCVCX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.55%	-49.75%	-8.80%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-7.62%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	-25.11%	-26.04%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-25.11%	-49.75%	+24.64%
Max Drawdown (10Y) Largest decline over 10 years	-45.31%	-49.75%	+4.44%
Current Drawdown Current decline from peak	-0.48%	-2.76%	+2.28%
Average Drawdown Average peak-to-trough decline	-8.46%	-16.14%	+7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.57%	+0.43%

Volatility

FCVCX vs. PMJIX - Volatility Comparison

Fidelity Advisor Small Cap Value Fund Class C (FCVCX) has a higher volatility of 5.86% compared to PIMCO RAE US Small Fund (PMJIX) at 5.31%. This indicates that FCVCX's price experiences larger fluctuations and is considered to be riskier than PMJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCVCX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.86%	5.31%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	13.45%	11.89%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	18.17%	17.30%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.96%	39.45%	-18.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	33.08%	-10.71%

FCVCX vs. PMJIX - Expense Ratio Comparison

FCVCX has a 2.02% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

FCVCX vs. PMJIX - Dividend Comparison

FCVCX's dividend yield for the trailing twelve months is around 10.07%, more than PMJIX's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCVCX Fidelity Advisor Small Cap Value Fund Class C	10.07%	12.35%	5.46%	5.97%	7.23%	8.53%	0.13%	3.34%	41.61%	3.03%	7.26%	11.44%
PMJIX PIMCO RAE US Small Fund	2.67%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%

Frequently Asked Questions

Can I hold both FCVCX and PMJIX in my portfolio?

With a correlation of 0.90, FCVCX and PMJIX 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, FCVCX or PMJIX?

FCVCX has higher volatility (5.86%) compared to PMJIX (5.31%). In terms of maximum drawdown, FCVCX dropped -58.55% vs PMJIX's -49.75%.

Which has better risk-adjusted returns?

PMJIX currently has the higher Sharpe Ratio (2.03 vs 2.03), 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.