FDTZX vs. HDCTX

Last updated Jun 4, 2026

FDTZX (Fidelity Advisor Capital Development Fund Class M) and HDCTX (Rational Equity Armor Fund) are both Large Cap Value Equities funds. Over the past 10 years, FDTZX returned 15.06%/yr vs 5.66%/yr for HDCTX. Their correlation of 0.82 suggests significant overlap in exposure. FDTZX charges 1.33%/yr vs 1.17%/yr for HDCTX.

Performance

FDTZX vs. HDCTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Capital Development Fund Class M (FDTZX) and Rational Equity Armor Fund (HDCTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDTZX achieves a 9.55% return, which is significantly lower than HDCTX's 11.26% return. Over the past 10 years, FDTZX has outperformed HDCTX with an annualized return of 15.06%, while HDCTX has yielded a comparatively lower 5.66% annualized return.

FDTZX

• 1D: -0.29%
• 1M: 3.20%
• YTD: 9.55%
• 6M: 11.52%
• 1Y: 30.40%
• 3Y*: 25.08%
• 5Y*: 15.43%
• 10Y*: 15.06%

HDCTX

• 1D: 0.34%
• 1M: 4.63%
• YTD: 11.26%
• 6M: 8.64%
• 1Y: 21.27%
• 3Y*: 16.02%
• 5Y*: 7.04%
• 10Y*: 5.66%

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

FDTZX vs. HDCTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDTZX Fidelity Advisor Capital Development Fund Class M	9.55%	26.82%	26.26%	23.23%	-8.72%	24.45%	8.28%	30.31%	-9.87%	16.34%
HDCTX Rational Equity Armor Fund	11.26%	12.64%	16.85%	2.95%	-10.68%	14.52%	15.85%	11.32%	-11.94%	-1.99%

Correlation

The correlation between FDTZX and HDCTX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 2, 2004	0.82

The correlation between FDTZX and HDCTX has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

FDTZX vs. HDCTX — Risk / Return Rank

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

FDTZX

FDTZX Risk / Return Rank: 72
FDTZX Sharpe Ratio Rank: 75
FDTZX Sortino Ratio Rank: 70
FDTZX Omega Ratio Rank: 67
FDTZX Calmar Ratio Rank: 69
FDTZX Martin Ratio Rank: 78

HDCTX

HDCTX Risk / Return Rank: 57
HDCTX Sharpe Ratio Rank: 61
HDCTX Sortino Ratio Rank: 64
HDCTX Omega Ratio Rank: 55
HDCTX Calmar Ratio Rank: 65
HDCTX Martin Ratio Rank: 38

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.

FDTZX vs. HDCTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Capital Development Fund Class M (FDTZX) and Rational Equity Armor Fund (HDCTX). 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.

	FDTZX	HDCTX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.30	+0.23
Sortino ratio: Return per unit of downside risk	3.49	3.36	+0.13
Omega ratio: Gain probability vs. loss probability	1.46	1.41	+0.05
Calmar ratio: Return relative to maximum drawdown	3.22	3.11	+0.11
Martin ratio: Return relative to average drawdown	14.65	8.25	+6.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDTZX vs. HDCTX - Sharpe Ratio Comparison

The current FDTZX Sharpe Ratio is 2.53, which is comparable to the HDCTX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FDTZX and HDCTX, 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

	FDTZX	HDCTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.30	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.66	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.49	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.40	+0.11

Drawdowns

FDTZX vs. HDCTX - Drawdown Comparison

The maximum FDTZX drawdown since its inception was -58.26%, roughly equal to the maximum HDCTX drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for FDTZX and HDCTX.

Drawdown Indicators

	FDTZX	HDCTX	Difference
Max Drawdown Largest peak-to-trough decline	-58.26%	-59.05%	+0.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-6.95%	-2.76%
Max Drawdown (3Y) Largest decline over 3 years	-20.16%	-11.74%	-8.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.13%	-18.22%	-3.91%
Max Drawdown (10Y) Largest decline over 10 years	-36.66%	-19.43%	-17.23%
Current Drawdown Current decline from peak	-0.29%	-0.83%	+0.54%
Average Drawdown Average peak-to-trough decline	-8.61%	-6.41%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.61%	-0.48%

Volatility

FDTZX vs. HDCTX - Volatility Comparison

The current volatility for Fidelity Advisor Capital Development Fund Class M (FDTZX) is 2.94%, while Rational Equity Armor Fund (HDCTX) has a volatility of 3.84%. This indicates that FDTZX experiences smaller price fluctuations and is considered to be less risky than HDCTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDTZX	HDCTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	3.84%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	6.95%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	9.39%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	10.67%	+7.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	11.53%	+7.34%

FDTZX vs. HDCTX - Expense Ratio Comparison

FDTZX has a 1.33% expense ratio, which is higher than HDCTX's 1.17% expense ratio.

Dividends

FDTZX vs. HDCTX - Dividend Comparison

FDTZX's dividend yield for the trailing twelve months is around 10.08%, more than HDCTX's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTZX Fidelity Advisor Capital Development Fund Class M	10.08%	11.04%	9.30%	4.11%	5.35%	5.32%	4.07%	7.18%	15.77%	5.66%	2.35%	5.37%
HDCTX Rational Equity Armor Fund	0.18%	0.00%	0.00%	0.17%	0.78%	1.21%	1.10%	5.37%	7.86%	5.60%	3.28%	15.32%

Frequently Asked Questions

Can I hold both FDTZX and HDCTX in my portfolio?

FDTZX and HDCTX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDTZX or HDCTX?

HDCTX has higher volatility (3.84%) compared to FDTZX (2.94%). In terms of maximum drawdown, FDTZX dropped -58.26% vs HDCTX's -59.05%.

Which has better risk-adjusted returns?

FDTZX currently has the higher Sharpe Ratio (2.53 vs 2.30), 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.