FDEIX vs. FXAIX

Last updated Jun 5, 2026

FDEIX (Fidelity Advisor Capital Development Fund Class I) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FDEIX is a Large Cap Value Equities fund managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FDEIX returned 15.58%/yr vs 15.58%/yr for FXAIX. Their correlation of 0.93 suggests significant overlap in exposure. FDEIX charges 0.71%/yr vs 0.02%/yr for FXAIX.

Performance

FDEIX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Capital Development Fund Class I (FDEIX) 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, FDEIX achieves a 8.79% return, which is significantly lower than FXAIX's 10.89% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: FDEIX at 15.58% and FXAIX at 15.58%.

FDEIX

• 1D: -0.92%
• 1M: 1.48%
• YTD: 8.79%
• 6M: 10.50%
• 1Y: 29.70%
• 3Y*: 25.36%
• 5Y*: 15.74%
• 10Y*: 15.58%

FXAIX

• 1D: -0.73%
• 1M: 4.17%
• YTD: 10.89%
• 6M: 10.80%
• 1Y: 28.02%
• 3Y*: 22.45%
• 5Y*: 13.91%
• 10Y*: 15.58%

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

FDEIX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDEIX Fidelity Advisor Capital Development Fund Class I	8.79%	27.44%	26.86%	24.00%	-8.17%	25.18%	8.93%	31.14%	-9.21%	16.45%
FXAIX Fidelity 500 Index Fund	10.89%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FDEIX and FXAIX 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	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.93

The correlation between FDEIX and FXAIX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

FDEIX vs. FXAIX — Risk / Return Rank

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

FDEIX

FDEIX Risk / Return Rank: 69
FDEIX Sharpe Ratio Rank: 71
FDEIX Sortino Ratio Rank: 66
FDEIX Omega Ratio Rank: 64
FDEIX Calmar Ratio Rank: 68
FDEIX Martin Ratio Rank: 77

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 60
FXAIX Calmar Ratio Rank: 67
FXAIX 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.

FDEIX vs. FXAIX - Risk-Adjusted Trends Comparison

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

	FDEIX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.37	+0.05
Sortino ratio: Return per unit of downside risk	3.37	3.24	+0.13
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	3.11	3.17	-0.06
Martin ratio: Return relative to average drawdown	14.20	14.80	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEIX vs. FXAIX - Sharpe Ratio Comparison

The current FDEIX Sharpe Ratio is 2.42, which is comparable to the FXAIX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of FDEIX 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

	FDEIX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.37	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.83	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.87	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.82	-0.28

Drawdowns

FDEIX vs. FXAIX - Drawdown Comparison

The maximum FDEIX drawdown since its inception was -57.82%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FDEIX and FXAIX.

Drawdown Indicators

	FDEIX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-33.79%	-24.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-8.89%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-18.76%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-21.81%	-24.50%	+2.69%
Max Drawdown (10Y) Largest decline over 10 years	-36.61%	-33.79%	-2.82%
Current Drawdown Current decline from peak	-1.18%	-0.73%	-0.45%
Average Drawdown Average peak-to-trough decline	-8.13%	-3.79%	-4.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	1.90%	+0.21%

Volatility

FDEIX vs. FXAIX - Volatility Comparison

Fidelity Advisor Capital Development Fund Class I (FDEIX) and Fidelity 500 Index Fund (FXAIX) have volatilities of 3.01% and 2.92%, 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

	FDEIX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	2.92%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	8.99%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	11.88%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	16.91%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	18.07%	+0.76%

FDEIX vs. FXAIX - Expense Ratio Comparison

FDEIX has a 0.71% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FDEIX vs. FXAIX - Dividend Comparison

FDEIX's dividend yield for the trailing twelve months is around 9.45%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDEIX Fidelity Advisor Capital Development Fund Class I	9.45%	10.28%	8.81%	4.21%	5.46%	5.49%	4.32%	7.30%	15.57%	5.32%	2.82%	5.75%
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 FDEIX and FXAIX in my portfolio?

With a correlation of 0.94, FDEIX and FXAIX 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, FDEIX or FXAIX?

FDEIX has higher volatility (3.01%) compared to FXAIX (2.92%). In terms of maximum drawdown, FDEIX dropped -57.82% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FDEIX currently has the higher Sharpe Ratio (2.42 vs 2.37), 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.