FDESX vs. IWV
FDESX (Fidelity Advisor Diversified Stock Fund Class O) and IWV (iShares Russell 3000 ETF) are both funds - FDESX is a Large Cap Growth Equities fund managed by Fidelity, while IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Over the past 10 years, FDESX returned 16.43%/yr vs 15.13%/yr for IWV. With a 0.96 correlation, they move nearly in lockstep. FDESX charges 0.45%/yr vs 0.20%/yr for IWV.
Performance
FDESX vs. IWV - Performance Comparison
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Returns By Period
In the year-to-date period, FDESX achieves a 14.64% return, which is significantly higher than IWV's 10.01% return. Over the past 10 years, FDESX has outperformed IWV with an annualized return of 16.43%, while IWV has yielded a comparatively lower 15.13% annualized return.
FDESX
- 1D
- 1.34%
- 1M
- 2.57%
- YTD
- 14.64%
- 6M
- 13.87%
- 1Y
- 31.43%
- 3Y*
- 22.55%
- 5Y*
- 14.27%
- 10Y*
- 16.43%
IWV
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 10.01%
- 6M
- 9.26%
- 1Y
- 26.55%
- 3Y*
- 20.91%
- 5Y*
- 12.24%
- 10Y*
- 15.13%
FDESX vs. IWV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDESX Fidelity Advisor Diversified Stock Fund Class O | 14.64% | 14.07% | 28.08% | 28.34% | -19.86% | 28.26% | 27.46% | 28.23% | -5.62% | 17.76% |
IWV iShares Russell 3000 ETF | 10.01% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 30.66% | -5.43% | 20.97% |
Correlation
The correlation between FDESX and IWV 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 May 26, 2000 | 0.96 |
The correlation between FDESX and IWV has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
FDESX vs. IWV — Risk / Return Rank
FDESX
IWV
FDESX vs. IWV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Diversified Stock Fund Class O (FDESX) and iShares Russell 3000 ETF (IWV). 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.
| FDESX | IWV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.38 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 3.00 | +0.13 |
| Martin ratioReturn relative to average drawdown | 13.47 | 13.42 | +0.05 |
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Drawdowns
FDESX vs. IWV - Drawdown Comparison
The maximum FDESX drawdown since its inception was -65.36%, which is greater than IWV's maximum drawdown of -55.61%. Use the drawdown chart below to compare losses from any high point for FDESX and IWV.
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Drawdown Indicators
| FDESX | IWV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.36% | -55.61% | -9.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.99% | -8.89% | -1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -27.06% | -19.28% | -7.78% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -25.11% | -1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -30.39% | -35.22% | +4.83% |
Current DrawdownCurrent decline from peak | -0.36% | -1.46% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -10.57% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.98% | +0.34% |
Volatility
FDESX vs. IWV - Volatility Comparison
Fidelity Advisor Diversified Stock Fund Class O (FDESX) has a higher volatility of 6.26% compared to iShares Russell 3000 ETF (IWV) at 4.65%. This indicates that FDESX's price experiences larger fluctuations and is considered to be riskier than IWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDESX | IWV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.26% | 4.65% | +1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 9.89% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 12.67% | +2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.84% | 17.32% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.63% | 18.45% | +1.18% |
FDESX vs. IWV - Expense Ratio Comparison
FDESX has a 0.45% expense ratio, which is higher than IWV's 0.20% expense ratio.
Dividends
FDESX vs. IWV - Dividend Comparison
FDESX's dividend yield for the trailing twelve months is around 5.74%, more than IWV's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDESX Fidelity Advisor Diversified Stock Fund Class O | 5.74% | 6.58% | 13.97% | 3.55% | 9.06% | 16.87% | 5.28% | 3.23% | 13.54% | 7.61% | 1.67% | 8.53% |
IWV iShares Russell 3000 ETF | 0.88% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
Frequently Asked Questions
With a correlation of 0.94, FDESX and IWV 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.
FDESX has higher volatility (6.26%) compared to IWV (4.65%). In terms of maximum drawdown, FDESX dropped -65.36% vs IWV's -55.61%.
IWV currently has the higher Sharpe Ratio (2.11 vs 2.05), 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.
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