FDTOX vs. MRFOX

Last updated Aug 1, 2026

FDTOX (Fidelity Advisor Diversified Stock Fund Class A) and MRFOX (Marshfield Concentrated Opportunity Fund) are both Large Cap Growth Equities funds. Over the past 10 years, FDTOX returned 15.06%/yr vs 15.92%/yr for MRFOX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. FDTOX charges 0.80%/yr vs 1.05%/yr for MRFOX.

Performance

FDTOX vs. MRFOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Diversified Stock Fund Class A (FDTOX) and Marshfield Concentrated Opportunity Fund (MRFOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDTOX achieves a 10.25% return, which is significantly higher than MRFOX's 4.87% return. Over the past 10 years, FDTOX has underperformed MRFOX with an annualized return of 15.06%, while MRFOX has yielded a comparatively higher 15.92% annualized return.

FDTOX

• 1D: 2.04%
• 1M: -1.94%
• 6M: 7.18%
• YTD: 10.25%
• 1Y: 19.91%
• 3Y*: 18.83%
• 5Y*: 12.13%
• 10Y*: 15.06%
• ALL TIME*: 8.41%

MRFOX

• 1D: -1.24%
• 1M: -0.50%
• 6M: 3.84%
• YTD: 4.87%
• 1Y: 11.84%
• 3Y*: 13.29%
• 5Y*: 11.49%
• 10Y*: 15.92%
• ALL TIME*: 15.58%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDTOX Fidelity Advisor Diversified Stock Fund Class A	$0.00	$0.00	$0.00
MRFOX Marshfield Concentrated Opportunity Fund	$0.00	$0.00	$0.00

FDTOX vs. MRFOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDTOX Fidelity Advisor Diversified Stock Fund Class A	10.25%	13.68%	27.66%	27.89%	-20.14%	27.77%	27.02%	27.81%	-5.95%	17.73%
MRFOX Marshfield Concentrated Opportunity Fund	4.87%	10.05%	17.10%	17.68%	5.06%	17.71%	15.19%	36.26%	1.89%	25.92%

Correlation

The correlation between FDTOX and MRFOX is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.61
Correlation (10Y) Provides a long-term view across more market conditions.	0.70
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.71

Over the past year, the correlation between FDTOX and MRFOX has dropped to 0.14 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

FDTOX vs. MRFOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDTOX

FDTOX Risk / Return Rank: 40
FDTOX Sharpe Ratio Rank: 35
FDTOX Sortino Ratio Rank: 34
FDTOX Omega Ratio Rank: 34
FDTOX Calmar Ratio Rank: 46
FDTOX Martin Ratio Rank: 52

MRFOX

MRFOX Risk / Return Rank: 35
MRFOX Sharpe Ratio Rank: 34
MRFOX Sortino Ratio Rank: 37
MRFOX Omega Ratio Rank: 32
MRFOX Calmar Ratio Rank: 38
MRFOX Martin Ratio Rank: 32

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDTOX vs. MRFOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Diversified Stock Fund Class A (FDTOX) and Marshfield Concentrated Opportunity Fund (MRFOX). 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.

	FDTOX	MRFOX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.05	+0.08
Sortino ratio: Return per unit of downside risk	1.61	1.62	-0.01
Omega ratio: Gain probability vs. loss probability	1.20	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	1.81	1.55	+0.26
Martin ratio: Return relative to average drawdown	7.25	4.55	+2.71

FDTOX vs. MRFOX - Sharpe Ratio Comparison

The current FDTOX Sharpe Ratio is 1.13, which is comparable to the MRFOX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of FDTOX and MRFOX, 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

FDTOX vs. MRFOX - Drawdown Comparison

The maximum FDTOX drawdown since its inception was -72.07%, which is greater than MRFOX's maximum drawdown of -29.10%. Use the drawdown chart below to compare losses from any high point for FDTOX and MRFOX.

Drawdown Indicators

	FDTOX	MRFOX	Difference
Max Drawdown Largest peak-to-trough decline	-72.07%	-29.10%	-42.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.04%	-7.03%	-3.01%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-7.91%	-19.47%
Max Drawdown (5Y) Largest decline over 5 years	-27.38%	-12.98%	-14.40%
Max Drawdown (10Y) Largest decline over 10 years	-30.39%	-29.10%	-1.29%
Current Drawdown Current decline from peak	-4.01%	-1.37%	-2.64%
Average Drawdown Average peak-to-trough decline	-19.44%	-2.34%	-17.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.38%	+0.12%

Volatility

FDTOX vs. MRFOX - Volatility Comparison

Fidelity Advisor Diversified Stock Fund Class A (FDTOX) and Marshfield Concentrated Opportunity Fund (MRFOX) have volatilities of 4.60% and 4.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDTOX	MRFOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.45%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	13.04%	7.80%	+5.24%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	10.40%	+5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	12.17%	+7.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	14.18%	+5.43%

FDTOX vs. MRFOX - Expense Ratio Comparison

FDTOX has a 0.80% expense ratio, which is lower than MRFOX's 1.05% expense ratio.

Dividends

FDTOX vs. MRFOX - Dividend Comparison

FDTOX's dividend yield for the trailing twelve months is around 6.01%, more than MRFOX's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTOX Fidelity Advisor Diversified Stock Fund Class A	6.01%	6.62%	14.36%	3.39%	9.03%	17.16%	5.14%	2.99%	13.50%	7.81%	1.38%	8.36%
MRFOX Marshfield Concentrated Opportunity Fund	1.54%	1.62%	4.59%	0.46%	0.35%	6.78%	2.68%	1.39%	1.94%	2.06%	0.60%	0.00%

Frequently Asked Questions

Can I hold both FDTOX and MRFOX in my portfolio?

FDTOX and MRFOX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDTOX or MRFOX?

FDTOX has higher volatility (4.60%) compared to MRFOX (4.45%). In terms of maximum drawdown, FDTOX dropped -72.07% vs MRFOX's -29.10%.

Which has better risk-adjusted returns?

FDTOX currently has the higher Sharpe Ratio (1.13 vs 1.05), 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.