FCVIX vs. VRTVX

Last updated Jun 25, 2026

FCVIX (Fidelity Advisor Small Cap Value Fund Class I) and VRTVX (Vanguard Russell 2000 Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 10 years, FCVIX returned 11.94%/yr vs 10.91%/yr for VRTVX. With a 0.96 correlation, they move nearly in lockstep. FCVIX charges 0.99%/yr vs 0.08%/yr for VRTVX.

Performance

FCVIX vs. VRTVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Value Fund Class I (FCVIX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCVIX achieves a 23.25% return, which is significantly higher than VRTVX's 20.90% return. Over the past 10 years, FCVIX has outperformed VRTVX with an annualized return of 11.94%, while VRTVX has yielded a comparatively lower 10.91% annualized return.

FCVIX

• 1D: -0.44%
• 1M: 4.94%
• YTD: 23.25%
• 6M: 20.48%
• 1Y: 36.35%
• 3Y*: 19.11%
• 5Y*: 9.65%
• 10Y*: 11.94%

VRTVX

• 1D: -0.25%
• 1M: 3.38%
• YTD: 20.90%
• 6M: 18.36%
• 1Y: 41.45%
• 3Y*: 19.39%
• 5Y*: 7.33%
• 10Y*: 10.91%

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

FCVIX vs. VRTVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCVIX Fidelity Advisor Small Cap Value Fund Class I	23.25%	8.02%	9.36%	17.82%	-13.07%	38.10%	11.21%	20.76%	-15.42%	12.27%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	20.90%	12.21%	8.07%	14.71%	-14.52%	28.06%	4.81%	22.40%	-12.83%	7.91%

Correlation

The correlation between FCVIX and VRTVX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.96

The correlation between FCVIX and VRTVX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FCVIX vs. VRTVX — Risk / Return Rank

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

FCVIX

FCVIX Risk / Return Rank: 72
FCVIX Sharpe Ratio Rank: 68
FCVIX Sortino Ratio Rank: 73
FCVIX Omega Ratio Rank: 57
FCVIX Calmar Ratio Rank: 85
FCVIX Martin Ratio Rank: 78

VRTVX

VRTVX Risk / Return Rank: 82
VRTVX Sharpe Ratio Rank: 79
VRTVX Sortino Ratio Rank: 77
VRTVX Omega Ratio Rank: 65
VRTVX Calmar Ratio Rank: 94
VRTVX Martin Ratio Rank: 92

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.

FCVIX vs. VRTVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Value Fund Class I (FCVIX) and Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX). 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.

	FCVIX	VRTVX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.36	-0.25
Sortino ratio: Return per unit of downside risk	3.12	3.30	-0.19
Omega ratio: Gain probability vs. loss probability	1.36	1.40	-0.04
Calmar ratio: Return relative to maximum drawdown	3.70	5.03	-1.33
Martin ratio: Return relative to average drawdown	12.93	17.09	-4.15

FCVIX vs. VRTVX - Sharpe Ratio Comparison

The current FCVIX Sharpe Ratio is 2.12, which is comparable to the VRTVX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FCVIX and VRTVX, 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

FCVIX vs. VRTVX - Drawdown Comparison

The maximum FCVIX drawdown since its inception was -57.61%, which is greater than VRTVX's maximum drawdown of -45.98%. Use the drawdown chart below to compare losses from any high point for FCVIX and VRTVX.

Drawdown Indicators

	FCVIX	VRTVX	Difference
Max Drawdown Largest peak-to-trough decline	-57.61%	-45.98%	-11.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-8.54%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	-23.82%	-26.85%	+3.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-26.85%	+3.03%
Max Drawdown (10Y) Largest decline over 10 years	-44.61%	-45.98%	+1.37%
Current Drawdown Current decline from peak	-0.44%	-0.25%	-0.19%
Average Drawdown Average peak-to-trough decline	-7.95%	-7.75%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.51%	+0.44%

Volatility

FCVIX vs. VRTVX - Volatility Comparison

Fidelity Advisor Small Cap Value Fund Class I (FCVIX) has a higher volatility of 5.83% compared to Vanguard Russell 2000 Value Index Fund Institutional Shares (VRTVX) at 5.29%. This indicates that FCVIX's price experiences larger fluctuations and is considered to be riskier than VRTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCVIX	VRTVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.29%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	12.48%	+0.92%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	18.24%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.95%	21.66%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	23.72%	-1.37%

FCVIX vs. VRTVX - Expense Ratio Comparison

FCVIX has a 0.99% expense ratio, which is higher than VRTVX's 0.08% expense ratio.

Dividends

FCVIX vs. VRTVX - Dividend Comparison

FCVIX's dividend yield for the trailing twelve months is around 8.19%, more than VRTVX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCVIX Fidelity Advisor Small Cap Value Fund Class I	8.19%	10.10%	6.09%	5.19%	5.92%	7.96%	0.48%	3.49%	36.40%	3.65%	7.15%	11.09%
VRTVX Vanguard Russell 2000 Value Index Fund Institutional Shares	1.65%	1.49%	1.84%	2.08%	2.15%	1.56%	1.54%	1.87%	2.17%	1.74%	1.52%	2.16%

Frequently Asked Questions

Can I hold both FCVIX and VRTVX in my portfolio?

With a correlation of 0.94, FCVIX and VRTVX 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, FCVIX or VRTVX?

FCVIX has higher volatility (5.83%) compared to VRTVX (5.29%). In terms of maximum drawdown, FCVIX dropped -57.61% vs VRTVX's -45.98%.

Which has better risk-adjusted returns?

VRTVX currently has the higher Sharpe Ratio (2.36 vs 2.12), 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.