FDVKX vs. TMMAX
FDVKX (Fidelity Value Discovery K6 Fund) and TMMAX (SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund) are both mutual funds - FDVKX is a Large Cap Value Equities fund managed by Fidelity, while TMMAX is a Low Volatility fund managed by BlackRock. Over the past 5 years, FDVKX returned 10.14%/yr vs 9.78%/yr for TMMAX. Their correlation of 0.84 means they have usually moved in the same direction. FDVKX charges 0.45%/yr vs 1.00%/yr for TMMAX.
Performance
FDVKX vs. TMMAX - Performance Comparison
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Returns By Period
In the year-to-date period, FDVKX achieves a 17.46% return, which is significantly higher than TMMAX's 8.33% 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%
TMMAX
- 1D
- -1.22%
- 1M
- 2.01%
- 6M
- 5.67%
- YTD
- 8.33%
- 1Y
- 13.78%
- 3Y*
- 13.06%
- 5Y*
- 9.78%
- 10Y*
- 9.93%
- ALL TIME*
- 9.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FDVKX vs. TMMAX - 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% | 9.32% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 8.33% | 11.03% | 17.07% | 7.32% | -3.11% | 24.10% | 1.32% | 24.00% | -2.84% | 8.61% |
Correlation
The correlation between FDVKX and TMMAX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 25, 2017 | 0.84 |
The correlation between FDVKX and TMMAX shifts across timeframes, from 0.73 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
FDVKX vs. TMMAX — Risk / Return Rank
FDVKX
TMMAX
FDVKX vs. TMMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Discovery K6 Fund (FDVKX) and SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX). 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 | TMMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.26 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 2.22 | +2.20 |
| Martin ratioReturn relative to average drawdown | 18.20 | 7.56 | +10.63 |
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Drawdowns
FDVKX vs. TMMAX - Drawdown Comparison
The maximum FDVKX drawdown since its inception was -37.70%, smaller than the maximum TMMAX drawdown of -41.50%. Use the drawdown chart below to compare losses from any high point for FDVKX and TMMAX.
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Drawdown Indicators
| FDVKX | TMMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.70% | -41.50% | +3.80% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -5.78% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -13.73% | -23.00% | +9.27% |
Max Drawdown (5Y)Largest decline over 5 years | -15.92% | -23.00% | +7.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.41% | — |
Current DrawdownCurrent decline from peak | -0.07% | -3.38% | +3.31% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -5.57% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 1.69% | -0.02% |
Volatility
FDVKX vs. TMMAX - Volatility Comparison
The current volatility for Fidelity Value Discovery K6 Fund (FDVKX) is 3.11%, while SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund (TMMAX) has a volatility of 3.98%. This indicates that FDVKX experiences smaller price fluctuations and is considered to be less risky than TMMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDVKX | TMMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.11% | 3.98% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 7.86% | 7.18% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.58% | 8.95% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.40% | 19.13% | -5.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.19% | 17.83% | -0.64% |
FDVKX vs. TMMAX - Expense Ratio Comparison
FDVKX has a 0.45% expense ratio, which is lower than TMMAX's 1.00% expense ratio.
Dividends
FDVKX vs. TMMAX - Dividend Comparison
FDVKX's dividend yield for the trailing twelve months is around 11.47%, less than TMMAX's 23.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
TMMAX SEI Institutional Managed Trust Tax-Managed Managed Volatility Fund | 23.27% | 25.19% | 23.39% | 15.23% | 6.54% | 4.73% | 2.15% | 3.67% | 4.91% | 4.10% | 4.17% | 5.57% |
Frequently Asked Questions
FDVKX and TMMAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMMAX has higher volatility (3.98%) compared to FDVKX (3.11%). In terms of maximum drawdown, FDVKX dropped -37.70% vs TMMAX's -41.50%.
FDVKX currently has the higher Sharpe Ratio (2.84 vs 1.44), 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.
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