FDETX vs. FXAIX

Last updated Jun 23, 2026

FDETX (Fidelity Advisor Capital Development Fund Class O) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FDETX 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, FDETX returned 16.08%/yr vs 15.58%/yr for FXAIX. Their correlation of 0.93 suggests significant overlap in exposure. FDETX charges 0.56%/yr vs 0.02%/yr for FXAIX.

Performance

FDETX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Capital Development Fund Class O (FDETX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FDETX having a 10.10% return and FXAIX slightly higher at 10.19%. Both investments have delivered pretty close results over the past 10 years, with FDETX having a 16.08% annualized return and FXAIX not far behind at 15.58%.

FDETX

• 1D: 0.96%
• 1M: 1.26%
• YTD: 10.10%
• 6M: 10.02%
• 1Y: 30.76%
• 3Y*: 25.13%
• 5Y*: 17.13%
• 10Y*: 16.08%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

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

FDETX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDETX Fidelity Advisor Capital Development Fund Class O	10.10%	27.60%	27.07%	24.20%	-8.00%	25.32%	9.12%	31.39%	-9.09%	16.45%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between FDETX 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 4, 2011	0.93

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

Return for Risk

FDETX vs. FXAIX — Risk / Return Rank

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

FDETX

FDETX Risk / Return Rank: 77
FDETX Sharpe Ratio Rank: 79
FDETX Sortino Ratio Rank: 74
FDETX Omega Ratio Rank: 72
FDETX Calmar Ratio Rank: 75
FDETX Martin Ratio Rank: 83

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
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.

FDETX vs. FXAIX - Risk-Adjusted Trends Comparison

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

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.

	FDETX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.17	+0.22
Sortino ratio: Return per unit of downside risk	3.28	2.93	+0.36
Omega ratio: Gain probability vs. loss probability	1.43	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	3.19	3.04	+0.15
Martin ratio: Return relative to average drawdown	14.40	13.75	+0.65

FDETX vs. FXAIX - Sharpe Ratio Comparison

The current FDETX Sharpe Ratio is 2.39, which is comparable to the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of FDETX 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.

Drawdowns

FDETX vs. FXAIX - Drawdown Comparison

The maximum FDETX drawdown since its inception was -66.86%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FDETX and FXAIX.

Drawdown Indicators

	FDETX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-33.79%	-33.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-8.89%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-19.76%	-18.76%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-21.72%	-24.50%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-36.61%	-33.79%	-2.82%
Current Drawdown Current decline from peak	-0.29%	-1.36%	+1.07%
Average Drawdown Average peak-to-trough decline	-11.21%	-3.79%	-7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.96%	+0.17%

Volatility

FDETX vs. FXAIX - Volatility Comparison

The current volatility for Fidelity Advisor Capital Development Fund Class O (FDETX) is 4.43%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.77%. This indicates that FDETX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDETX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.77%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	9.91%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	12.47%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	17.01%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.86%	18.11%	+0.75%

FDETX vs. FXAIX - Expense Ratio Comparison

FDETX has a 0.56% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FDETX vs. FXAIX - Dividend Comparison

FDETX's dividend yield for the trailing twelve months is around 9.39%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDETX Fidelity Advisor Capital Development Fund Class O	9.39%	10.34%	8.95%	4.39%	5.66%	5.63%	4.47%	7.46%	15.81%	5.34%	2.92%	5.97%
FXAIX Fidelity 500 Index Fund	1.04%	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 FDETX and FXAIX in my portfolio?

With a correlation of 0.94, FDETX 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, FDETX or FXAIX?

FXAIX has higher volatility (4.77%) compared to FDETX (4.43%). In terms of maximum drawdown, FDETX dropped -66.86% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FDETX currently has the higher Sharpe Ratio (2.39 vs 2.17), 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.