FDFIX vs. FNIAX

Last updated Jun 4, 2026

FDFIX (Fidelity Flex 500 Index Fund) and FNIAX (Fidelity Advisor New Insights Fund Class A) are both mutual funds - FDFIX is a Large Cap Blend Equities fund managed by Fidelity, while FNIAX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, FDFIX returned 14.20%/yr vs 15.23%/yr for FNIAX. Their correlation of 0.94 suggests significant overlap in exposure. FDFIX charges 0.00%/yr vs 0.93%/yr for FNIAX.

Performance

FDFIX vs. FNIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex 500 Index Fund (FDFIX) and Fidelity Advisor New Insights Fund Class A (FNIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDFIX achieves a 11.53% return, which is significantly higher than FNIAX's 9.43% return.

FDFIX

• 1D: 0.22%
• 1M: 6.02%
• YTD: 11.53%
• 6M: 11.45%
• 1Y: 28.49%
• 3Y*: 22.62%
• 5Y*: 14.20%
• 10Y*: —

FNIAX

• 1D: 0.04%
• 1M: 3.51%
• YTD: 9.43%
• 6M: 12.58%
• 1Y: 27.79%
• 3Y*: 27.04%
• 5Y*: 15.23%
• 10Y*: 16.25%

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

FDFIX vs. FNIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDFIX Fidelity Flex 500 Index Fund	11.53%	17.59%	25.06%	26.27%	-18.10%	28.69%	18.46%	31.47%	-4.45%	14.41%
FNIAX Fidelity Advisor New Insights Fund Class A	9.43%	21.17%	34.94%	35.97%	-26.57%	24.40%	23.62%	29.17%	-4.67%	18.93%

Correlation

The correlation between FDFIX and FNIAX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 10, 2017	0.94

The correlation between FDFIX and FNIAX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

FDFIX vs. FNIAX — Risk / Return Rank

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

FDFIX

FDFIX Risk / Return Rank: 70
FDFIX Sharpe Ratio Rank: 72
FDFIX Sortino Ratio Rank: 64
FDFIX Omega Ratio Rank: 64
FDFIX Calmar Ratio Rank: 72
FDFIX Martin Ratio Rank: 80

FNIAX

FNIAX Risk / Return Rank: 49
FNIAX Sharpe Ratio Rank: 46
FNIAX Sortino Ratio Rank: 43
FNIAX Omega Ratio Rank: 44
FNIAX Calmar Ratio Rank: 51
FNIAX Martin Ratio Rank: 61

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.

FDFIX vs. FNIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex 500 Index Fund (FDFIX) and Fidelity Advisor New Insights Fund Class A (FNIAX). 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.

	FDFIX	FNIAX	Difference
Sharpe ratio Return per unit of total volatility	2.47	2.00	+0.46
Sortino ratio Return per unit of downside risk	3.34	2.75	+0.59
Omega ratio Gain probability vs. loss probability	1.45	1.36	+0.09
Calmar ratio Return relative to maximum drawdown	3.28	2.73	+0.56
Martin ratio Return relative to average drawdown	14.96	12.10	+2.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDFIX vs. FNIAX - Sharpe Ratio Comparison

The current FDFIX Sharpe Ratio is 2.47, which is comparable to the FNIAX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FDFIX and FNIAX, 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

	FDFIX	FNIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.00	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.80	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.64	+0.19

Drawdowns

FDFIX vs. FNIAX - Drawdown Comparison

The maximum FDFIX drawdown since its inception was -33.77%, smaller than the maximum FNIAX drawdown of -49.69%. Use the drawdown chart below to compare losses from any high point for FDFIX and FNIAX.

Drawdown Indicators

	FDFIX	FNIAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.77%	-49.69%	+15.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-10.41%	+1.42%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-20.61%	+1.85%
Max Drawdown (5Y) Largest decline over 5 years	-24.51%	-31.98%	+7.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.98%	—
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-4.58%	-7.23%	+2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	2.34%	-0.37%

Volatility

FDFIX vs. FNIAX - Volatility Comparison

The current volatility for Fidelity Flex 500 Index Fund (FDFIX) is 2.92%, while Fidelity Advisor New Insights Fund Class A (FNIAX) has a volatility of 3.53%. This indicates that FDFIX experiences smaller price fluctuations and is considered to be less risky than FNIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDFIX	FNIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.53%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	10.80%	-1.77%
Volatility (1Y) Calculated over the trailing 1-year period	11.96%	14.19%	-2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	19.05%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.59%	19.29%	-0.70%

FDFIX vs. FNIAX - Expense Ratio Comparison

FDFIX has a 0.00% expense ratio, which is lower than FNIAX's 0.93% expense ratio.

Dividends

FDFIX vs. FNIAX - Dividend Comparison

FDFIX's dividend yield for the trailing twelve months is around 1.03%, less than FNIAX's 8.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDFIX Fidelity Flex 500 Index Fund	1.03%	1.11%	1.26%	1.48%	1.70%	1.27%	1.52%	1.78%	2.16%	0.50%	0.00%	0.00%
FNIAX Fidelity Advisor New Insights Fund Class A	8.54%	8.96%	5.85%	6.18%	17.12%	12.66%	8.14%	6.48%	13.78%	7.61%	4.99%	4.40%

Frequently Asked Questions

Can I hold both FDFIX and FNIAX in my portfolio?

FDFIX and FNIAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDFIX or FNIAX?

FNIAX has higher volatility (3.53%) compared to FDFIX (2.92%). In terms of maximum drawdown, FDFIX dropped -33.77% vs FNIAX's -49.69%.

Which has better risk-adjusted returns?

FDFIX currently has the higher Sharpe Ratio (2.47 vs 2.00), 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.