FDESX vs. SPHQ

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Advisor Diversified Stock Fund Class O (FDESX) and Invesco S&P 500 Quality ETF (SPHQ).

FDESX is managed by Fidelity. It was launched on Jul 10, 1970. SPHQ is a passively managed fund by Invesco that tracks the performance of the S&P 500 Quality Index. It was launched on Dec 6, 2005.

Performance

FDESX vs. SPHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Diversified Stock Fund Class O (FDESX) and Invesco S&P 500 Quality ETF (SPHQ). The values are adjusted to include any dividend payments, if applicable.

FDESX vs. SPHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDESX Fidelity Advisor Diversified Stock Fund Class O	-2.35%	14.07%	28.08%	28.34%	-19.86%	28.26%	27.46%	28.23%	-5.62%	17.76%
SPHQ Invesco S&P 500 Quality ETF	1.46%	13.25%	25.44%	24.83%	-15.76%	28.03%	17.36%	33.64%	-7.10%	19.10%

Returns By Period

In the year-to-date period, FDESX achieves a -2.35% return, which is significantly lower than SPHQ's 1.46% return. Over the past 10 years, FDESX has outperformed SPHQ with an annualized return of 14.83%, while SPHQ has yielded a comparatively lower 13.63% annualized return.

FDESX

• 1D: 3.51%
• 1M: -5.39%
• YTD: -2.35%
• 6M: 0.11%
• 1Y: 19.24%
• 3Y*: 19.69%
• 5Y*: 11.52%
• 10Y*: 14.83%

SPHQ

• 1D: 0.89%
• 1M: -5.57%
• YTD: 1.46%
• 6M: 3.57%
• 1Y: 16.02%
• 3Y*: 18.54%
• 5Y*: 12.70%
• 10Y*: 13.63%

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

FDESX vs. SPHQ - Expense Ratio Comparison

FDESX has a 0.45% expense ratio, which is higher than SPHQ's 0.15% expense ratio.

FDESX

Fidelity Advisor Diversified Stock Fund Class O

SPHQ

Invesco S&P 500 Quality ETF

Return for Risk

FDESX vs. SPHQ — Risk / Return Rank

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

FDESX

FDESX Risk / Return Rank: 59
FDESX Sharpe Ratio Rank: 51
FDESX Sortino Ratio Rank: 53
FDESX Omega Ratio Rank: 53
FDESX Calmar Ratio Rank: 65
FDESX Martin Ratio Rank: 71

SPHQ

SPHQ Risk / Return Rank: 54
SPHQ Sharpe Ratio Rank: 50
SPHQ Sortino Ratio Rank: 53
SPHQ Omega Ratio Rank: 50
SPHQ Calmar Ratio Rank: 55
SPHQ Martin Ratio Rank: 62

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. SPHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Diversified Stock Fund Class O (FDESX) and Invesco S&P 500 Quality ETF (SPHQ). 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	SPHQ	Difference
Sharpe ratio Return per unit of total volatility	1.03	0.94	+0.09
Sortino ratio Return per unit of downside risk	1.53	1.44	+0.09
Omega ratio Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio Return relative to maximum drawdown	1.62	1.45	+0.16
Martin ratio Return relative to average drawdown	7.12	6.35	+0.77
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. SPHQ - Sharpe Ratio Comparison

The current FDESX Sharpe Ratio is 1.03, which is comparable to the SPHQ Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FDESX and SPHQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FDESX	SPHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	0.94	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.78	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.77	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.50	-0.03

Correlation

The correlation between FDESX and SPHQ is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FDESX vs. SPHQ - Dividend Comparison

FDESX's dividend yield for the trailing twelve months is around 6.74%, more than SPHQ's 1.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDESX Fidelity Advisor Diversified Stock Fund Class O	6.74%	6.58%	13.97%	3.55%	9.06%	16.87%	5.28%	3.23%	13.54%	7.61%	1.67%	8.53%
SPHQ Invesco S&P 500 Quality ETF	1.18%	1.09%	1.15%	1.42%	1.85%	1.19%	1.55%	1.51%	1.85%	1.57%	1.67%	2.29%

Drawdowns

FDESX vs. SPHQ - Drawdown Comparison

The maximum FDESX drawdown since its inception was -65.36%, which is greater than SPHQ's maximum drawdown of -57.83%. Use the drawdown chart below to compare losses from any high point for FDESX and SPHQ.

Drawdown Indicators

	FDESX	SPHQ	Difference
Max Drawdown Largest peak-to-trough decline	-65.36%	-57.83%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-10.84%	-1.72%
Max Drawdown (5Y) Largest decline over 5 years	-27.06%	-25.04%	-2.02%
Max Drawdown (10Y) Largest decline over 10 years	-30.39%	-31.60%	+1.21%
Current Drawdown Current decline from peak	-6.82%	-5.92%	-0.90%
Average Drawdown Average peak-to-trough decline	-14.09%	-10.78%	-3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	2.48%	+0.38%

Volatility

FDESX vs. SPHQ - Volatility Comparison

Fidelity Advisor Diversified Stock Fund Class O (FDESX) has a higher volatility of 6.65% compared to Invesco S&P 500 Quality ETF (SPHQ) at 5.32%. This indicates that FDESX's price experiences larger fluctuations and is considered to be riskier than SPHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDESX	SPHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	5.32%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	11.65%	9.67%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	19.43%	17.13%	+2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	16.40%	+3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.53%	17.81%	+1.72%