FDVKX vs. FSWCX

Last updated Aug 1, 2026

FDVKX (Fidelity Value Discovery K6 Fund) and FSWCX (Fidelity SAI U.S. Value Index Fund) are both Large Cap Value Equities funds from Fidelity. Over the past 5 years, FDVKX returned 10.14%/yr vs 15.24%/yr for FSWCX. Their correlation of 0.92 means they have usually moved in the same direction. FDVKX charges 0.45%/yr vs 0.10%/yr for FSWCX.

Performance

FDVKX vs. FSWCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Value Discovery K6 Fund (FDVKX) and Fidelity SAI U.S. Value Index Fund (FSWCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDVKX achieves a 17.46% return, which is significantly lower than FSWCX's 18.44% return.

FDVKX

• 1D: 0.35%
• 1M: 2.66%
• 6M: 13.08%
• YTD: 17.46%
• 1Y: 32.52%
• 3Y*: 14.90%
• 5Y*: 10.14%
• 10Y*: —
• ALL TIME*: 10.67%

FSWCX

• 1D: 0.50%
• 1M: 3.37%
• 6M: 15.43%
• YTD: 18.44%
• 1Y: 38.19%
• 3Y*: 21.78%
• 5Y*: 15.24%
• 10Y*: —
• ALL TIME*: 12.28%

*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)
FDVKX Fidelity Value Discovery K6 Fund	$0.00	$0.00	$0.00
FSWCX Fidelity SAI U.S. Value Index Fund	$0.00	$0.00	$0.00

FDVKX vs. FSWCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDVKX Fidelity Value Discovery K6 Fund	17.46%	16.82%	8.67%	5.73%	-3.08%	25.05%	7.87%	24.17%	-9.34%	-0.18%
FSWCX Fidelity SAI U.S. Value Index Fund	18.44%	22.50%	19.90%	12.64%	-3.50%	30.43%	-4.44%	29.09%	-11.54%	0.77%

Correlation

The correlation between FDVKX and FSWCX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.92

The correlation between FDVKX and FSWCX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

FDVKX vs. FSWCX — Risk / Return Rank

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

FDVKX

FDVKX Risk / Return Rank: 95
FDVKX Sharpe Ratio Rank: 97
FDVKX Sortino Ratio Rank: 96
FDVKX Omega Ratio Rank: 92
FDVKX Calmar Ratio Rank: 95
FDVKX Martin Ratio Rank: 96

FSWCX

FSWCX Risk / Return Rank: 97
FSWCX Sharpe Ratio Rank: 98
FSWCX Sortino Ratio Rank: 96
FSWCX Omega Ratio Rank: 94
FSWCX Calmar Ratio Rank: 98
FSWCX Martin Ratio Rank: 98

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.

FDVKX vs. FSWCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Discovery K6 Fund (FDVKX) and Fidelity SAI U.S. Value Index Fund (FSWCX). 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.

	FDVKX	FSWCX	Difference
Sharpe ratio: Return per unit of total volatility	2.84	3.07	-0.23
Sortino ratio: Return per unit of downside risk	4.06	4.15	-0.09
Omega ratio: Gain probability vs. loss probability	1.51	1.56	-0.05
Calmar ratio: Return relative to maximum drawdown	4.42	6.04	-1.62
Martin ratio: Return relative to average drawdown	18.20	21.41	-3.21

FDVKX vs. FSWCX - Sharpe Ratio Comparison

The current FDVKX Sharpe Ratio is 2.84, which is comparable to the FSWCX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of FDVKX and FSWCX, 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

FDVKX vs. FSWCX - Drawdown Comparison

The maximum FDVKX drawdown since its inception was -37.70%, smaller than the maximum FSWCX drawdown of -41.41%. Use the drawdown chart below to compare losses from any high point for FDVKX and FSWCX.

Drawdown Indicators

	FDVKX	FSWCX	Difference
Max Drawdown Largest peak-to-trough decline	-37.70%	-41.41%	+3.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-5.77%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.73%	-16.13%	+2.40%
Max Drawdown (5Y) Largest decline over 5 years	-15.92%	-19.62%	+3.70%
Current Drawdown Current decline from peak	-0.07%	-0.31%	+0.24%
Average Drawdown Average peak-to-trough decline	-4.22%	-5.49%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	1.65%	+0.02%

Volatility

FDVKX vs. FSWCX - Volatility Comparison

Fidelity Value Discovery K6 Fund (FDVKX) has a higher volatility of 3.11% compared to Fidelity SAI U.S. Value Index Fund (FSWCX) at 2.50%. This indicates that FDVKX's price experiences larger fluctuations and is considered to be riskier than FSWCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDVKX	FSWCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.11%	2.50%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	7.86%	8.01%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	11.34%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.40%	16.65%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.19%	20.64%	-3.45%

FDVKX vs. FSWCX - Expense Ratio Comparison

FDVKX has a 0.45% expense ratio, which is higher than FSWCX's 0.10% expense ratio.

Dividends

FDVKX vs. FSWCX - Dividend Comparison

FDVKX's dividend yield for the trailing twelve months is around 11.47%, more than FSWCX's 6.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDVKX Fidelity Value Discovery K6 Fund	11.47%	13.47%	10.15%	4.71%	10.98%	9.64%	1.75%	3.53%	3.62%	0.75%
FSWCX Fidelity SAI U.S. Value Index Fund	6.25%	7.40%	8.86%	9.68%	12.90%	5.71%	2.55%	2.37%	3.84%	0.07%

Frequently Asked Questions

Can I hold both FDVKX and FSWCX in my portfolio?

FDVKX and FSWCX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDVKX or FSWCX?

FDVKX has higher volatility (3.11%) compared to FSWCX (2.50%). In terms of maximum drawdown, FDVKX dropped -37.70% vs FSWCX's -41.41%.

Which has better risk-adjusted returns?

FSWCX currently has the higher Sharpe Ratio (3.07 vs 2.84), 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.