FDESX vs. ELFNX

Last updated Jun 3, 2026

FDESX (Fidelity Advisor Diversified Stock Fund Class O) and ELFNX (Elfun Trusts) are both Large Cap Growth Equities funds. Over the past 10 years, FDESX returned 16.19%/yr vs 16.58%/yr for ELFNX. Their correlation of 0.85 suggests significant overlap in exposure. FDESX charges 0.45%/yr vs 0.18%/yr for ELFNX.

Performance

FDESX vs. ELFNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Diversified Stock Fund Class O (FDESX) and Elfun Trusts (ELFNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDESX achieves a 14.17% return, which is significantly higher than ELFNX's 7.37% return. Both investments have delivered pretty close results over the past 10 years, with FDESX having a 16.19% annualized return and ELFNX not far ahead at 16.58%.

FDESX

• 1D: 0.32%
• 1M: 5.14%
• YTD: 14.17%
• 6M: 14.12%
• 1Y: 31.70%
• 3Y*: 23.47%
• 5Y*: 13.80%
• 10Y*: 16.19%

ELFNX

• 1D: 0.46%
• 1M: 3.77%
• YTD: 7.37%
• 6M: 7.59%
• 1Y: 25.59%
• 3Y*: 22.64%
• 5Y*: 13.31%
• 10Y*: 16.58%

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

FDESX vs. ELFNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDESX Fidelity Advisor Diversified Stock Fund Class O	14.17%	14.07%	28.08%	28.34%	-19.86%	28.26%	27.46%	28.23%	-5.62%	17.76%
ELFNX Elfun Trusts	7.37%	16.64%	26.91%	34.50%	-19.91%	24.46%	25.18%	35.57%	-3.25%	25.60%

Correlation

The correlation between FDESX and ELFNX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 3, 1980	0.85

The correlation between FDESX and ELFNX has been stable across timeframes, ranging from 0.85 to 0.95 - a consistent structural relationship.

Return for Risk

FDESX vs. ELFNX — Risk / Return Rank

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

FDESX

FDESX Risk / Return Rank: 63
FDESX Sharpe Ratio Rank: 60
FDESX Sortino Ratio Rank: 54
FDESX Omega Ratio Rank: 55
FDESX Calmar Ratio Rank: 71
FDESX Martin Ratio Rank: 76

ELFNX

ELFNX Risk / Return Rank: 44
ELFNX Sharpe Ratio Rank: 50
ELFNX Sortino Ratio Rank: 46
ELFNX Omega Ratio Rank: 46
ELFNX Calmar Ratio Rank: 35
ELFNX Martin Ratio Rank: 43

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.

FDESX vs. ELFNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Diversified Stock Fund Class O (FDESX) and Elfun Trusts (ELFNX). 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.

	FDESX	ELFNX	Difference
Sharpe ratio Return per unit of total volatility	2.30	2.09	+0.21
Sortino ratio Return per unit of downside risk	3.08	2.84	+0.24
Omega ratio Gain probability vs. loss probability	1.41	1.37	+0.04
Calmar ratio Return relative to maximum drawdown	3.28	2.27	+1.01
Martin ratio Return relative to average drawdown	14.47	9.28	+5.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDESX vs. ELFNX - Sharpe Ratio Comparison

The current FDESX Sharpe Ratio is 2.30, which is comparable to the ELFNX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FDESX and ELFNX, 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

	FDESX	ELFNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.09	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.75	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.91	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.60	-0.11

Drawdowns

FDESX vs. ELFNX - Drawdown Comparison

The maximum FDESX drawdown since its inception was -65.36%, which is greater than ELFNX's maximum drawdown of -50.28%. Use the drawdown chart below to compare losses from any high point for FDESX and ELFNX.

Drawdown Indicators

	FDESX	ELFNX	Difference
Max Drawdown Largest peak-to-trough decline	-65.36%	-50.28%	-15.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-11.40%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-27.06%	-19.58%	-7.48%
Max Drawdown (5Y) Largest decline over 5 years	-27.06%	-26.39%	-0.67%
Max Drawdown (10Y) Largest decline over 10 years	-30.39%	-32.44%	+2.05%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.04%	-7.63%	-6.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.78%	-0.52%

Volatility

FDESX vs. ELFNX - Volatility Comparison

Fidelity Advisor Diversified Stock Fund Class O (FDESX) has a higher volatility of 4.24% compared to Elfun Trusts (ELFNX) at 2.88%. This indicates that FDESX's price experiences larger fluctuations and is considered to be riskier than ELFNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDESX	ELFNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	2.88%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	11.16%	9.46%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	12.50%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	17.89%	+1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	18.38%	+1.18%

FDESX vs. ELFNX - Expense Ratio Comparison

FDESX has a 0.45% expense ratio, which is higher than ELFNX's 0.18% expense ratio.

Dividends

FDESX vs. ELFNX - Dividend Comparison

FDESX's dividend yield for the trailing twelve months is around 5.77%, less than ELFNX's 9.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELFNX Elfun Trusts	9.19%	9.87%	10.43%	2.90%	9.01%	11.62%	8.60%	9.39%	16.18%	10.80%	8.85%	8.22%
FDESX Fidelity Advisor Diversified Stock Fund Class O	5.77%	6.58%	13.97%	3.55%	9.06%	16.87%	5.28%	3.23%	13.54%	7.61%	1.67%	8.53%

Frequently Asked Questions

Can I hold both FDESX and ELFNX in my portfolio?

With a correlation of 0.91, FDESX and ELFNX 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, FDESX or ELFNX?

FDESX has higher volatility (4.24%) compared to ELFNX (2.88%). In terms of maximum drawdown, FDESX dropped -65.36% vs ELFNX's -50.28%.

Which has better risk-adjusted returns?

FDESX currently has the higher Sharpe Ratio (2.30 vs 2.09), 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.