FEAMX vs. FZALX

Last updated Jul 15, 2026

FEAMX (First Eagle Fund of America) and FZALX (Fidelity Advisor Mega Cap Stock Fund Class Z) are both Large Cap Blend Equities funds. Over the past 10 years, FEAMX returned 8.77%/yr vs 16.48%/yr for FZALX. Their correlation of 0.83 suggests significant overlap in exposure. FEAMX charges 1.65%/yr vs 0.51%/yr for FZALX.

Performance

FEAMX vs. FZALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Fund of America (FEAMX) and Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEAMX achieves a 7.02% return, which is significantly lower than FZALX's 10.83% return. Over the past 10 years, FEAMX has underperformed FZALX with an annualized return of 8.77%, while FZALX has yielded a comparatively higher 16.48% annualized return.

FEAMX

• 1D: -0.63%
• 1M: -1.40%
• 6M: 3.13%
• YTD: 7.02%
• 1Y: 19.69%
• 3Y*: 18.31%
• 5Y*: 9.76%
• 10Y*: 8.77%

FZALX

• 1D: -0.84%
• 1M: 1.96%
• 6M: 7.91%
• YTD: 10.83%
• 1Y: 23.39%
• 3Y*: 24.35%
• 5Y*: 16.56%
• 10Y*: 16.48%

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

FEAMX vs. FZALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEAMX First Eagle Fund of America	7.02%	22.95%	21.26%	21.30%	-19.90%	19.13%	7.00%	27.41%	-24.23%	20.85%
FZALX Fidelity Advisor Mega Cap Stock Fund Class Z	10.83%	27.07%	26.13%	26.63%	-8.89%	26.44%	13.06%	31.25%	-7.31%	18.01%

Correlation

The correlation between FEAMX and FZALX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.83

The correlation between FEAMX and FZALX shifts across timeframes, from 0.70 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEAMX vs. FZALX — Risk / Return Rank

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

FEAMX

FEAMX Risk / Return Rank: 50
FEAMX Sharpe Ratio Rank: 57
FEAMX Sortino Ratio Rank: 52
FEAMX Omega Ratio Rank: 56
FEAMX Calmar Ratio Rank: 41
FEAMX Martin Ratio Rank: 42

FZALX

FZALX Risk / Return Rank: 74
FZALX Sharpe Ratio Rank: 73
FZALX Sortino Ratio Rank: 71
FZALX Omega Ratio Rank: 69
FZALX Calmar Ratio Rank: 74
FZALX Martin Ratio Rank: 83

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.

FEAMX vs. FZALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Fund of America (FEAMX) and Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX). 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.

	FEAMX	FZALX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.90	-0.23
Sortino ratio: Return per unit of downside risk	2.29	2.64	-0.35
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	1.96	2.65	-0.69
Martin ratio: Return relative to average drawdown	7.13	11.60	-4.47

FEAMX vs. FZALX - Sharpe Ratio Comparison

The current FEAMX Sharpe Ratio is 1.67, which is comparable to the FZALX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FEAMX and FZALX, 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

FEAMX vs. FZALX - Drawdown Comparison

The maximum FEAMX drawdown since its inception was -45.04%, which is greater than FZALX's maximum drawdown of -35.23%. Use the drawdown chart below to compare losses from any high point for FEAMX and FZALX.

Drawdown Indicators

	FEAMX	FZALX	Difference
Max Drawdown Largest peak-to-trough decline	-45.04%	-35.23%	-9.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-8.99%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-12.58%	-18.49%	+5.91%
Max Drawdown (5Y) Largest decline over 5 years	-28.89%	-23.25%	-5.64%
Max Drawdown (10Y) Largest decline over 10 years	-40.30%	-35.23%	-5.07%
Current Drawdown Current decline from peak	-4.03%	-0.84%	-3.19%
Average Drawdown Average peak-to-trough decline	-7.92%	-3.75%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.05%	+0.72%

Volatility

FEAMX vs. FZALX - Volatility Comparison

First Eagle Fund of America (FEAMX) has a higher volatility of 4.07% compared to Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX) at 3.71%. This indicates that FEAMX's price experiences larger fluctuations and is considered to be riskier than FZALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEAMX	FZALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	3.71%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	9.49%	9.70%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	12.60%	-0.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	16.75%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.32%	18.08%	-0.76%

FEAMX vs. FZALX - Expense Ratio Comparison

FEAMX has a 1.65% expense ratio, which is higher than FZALX's 0.51% expense ratio.

Dividends

FEAMX vs. FZALX - Dividend Comparison

FEAMX's dividend yield for the trailing twelve months is around 16.35%, more than FZALX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEAMX First Eagle Fund of America	16.35%	17.24%	15.02%	13.60%	4.42%	21.44%	26.22%	1.16%	35.09%	12.74%	7.87%	3.43%
FZALX Fidelity Advisor Mega Cap Stock Fund Class Z	3.64%	4.04%	2.83%	2.17%	4.51%	4.92%	8.14%	13.19%	21.94%	16.56%	2.12%	4.33%

Frequently Asked Questions

Can I hold both FEAMX and FZALX in my portfolio?

FEAMX and FZALX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEAMX or FZALX?

FEAMX has higher volatility (4.07%) compared to FZALX (3.71%). In terms of maximum drawdown, FEAMX dropped -45.04% vs FZALX's -35.23%.

Which has better risk-adjusted returns?

FZALX currently has the higher Sharpe Ratio (1.90 vs 1.67), 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.