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FEQHX vs. FSUVX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEQHX vs. FSUVX

Last updated Jun 24, 2026

FEQHX (Fidelity Hedged Equity Fund) and FSUVX (Fidelity SAI U.S. Low Volatility Index Fund) are both Large Cap Blend Equities funds from Fidelity. Over the past 3 years, FEQHX returned 16.67%/yr vs 13.42%/yr for FSUVX. Their correlation of 0.81 suggests significant overlap in exposure. FEQHX charges 0.55%/yr vs 0.11%/yr for FSUVX.

Performance

FEQHX vs. FSUVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Hedged Equity Fund (FEQHX) and Fidelity SAI U.S. Low Volatility Index Fund (FSUVX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FEQHX achieves a 7.79% return, which is significantly higher than FSUVX's 3.46% return.

FEQHX

1D
-0.43%
1M
-0.43%
YTD
7.79%
6M
6.86%
1Y
18.77%
3Y*
16.67%
5Y*
—
10Y*
—

FSUVX

1D
-0.59%
1M
-2.76%
YTD
3.46%
6M
2.97%
1Y
10.40%
3Y*
13.42%
5Y*
9.18%
10Y*
11.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEQHX vs. FSUVX - Yearly Performance Comparison

2026 (YTD)2025202420232022
FEQHX
Fidelity Hedged Equity Fund		7.79%13.61%19.46%17.65%-4.85%
FSUVX
Fidelity SAI U.S. Low Volatility Index Fund		3.46%11.03%17.40%14.80%0.15%

Correlation

The correlation between FEQHX and FSUVX is 0.71, 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

0.71

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Sep 8, 2022

0.81

The correlation between FEQHX and FSUVX shifts across timeframes, from 0.71 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

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Fidelity Hedged Equity Fund

Fidelity SAI U.S. Low Volatility Index Fund

Often compared with FEQHX:
FEQHX vs. BDMAXFEQHX vs. JDIEXFEQHX vs. INGIXFEQHX vs. AGRDXFEQHX vs. BFSAXFEQHX vs. VDIGXFEQHX vs. VOO
Often compared with FSUVX:
FSUVX vs. USMVFSUVX vs. FXAIXFSUVX vs. VOOFSUVX vs. ACWVFSUVX vs. AEPGXFSUVX vs. SPLVFSUVX vs. AOA

Return for Risk

FEQHX vs. FSUVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEQHX
FEQHX Risk / Return Rank: 5353
Overall Rank
FEQHX Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
FEQHX Sortino Ratio Rank: 5353
Sortino Ratio Rank
FEQHX Omega Ratio Rank: 5252
Omega Ratio Rank
FEQHX Calmar Ratio Rank: 5353
Calmar Ratio Rank
FEQHX Martin Ratio Rank: 5353
Martin Ratio Rank
FSUVX
FSUVX Risk / Return Rank: 2626
Overall Rank
FSUVX Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
FSUVX Sortino Ratio Rank: 2626
Sortino Ratio Rank
FSUVX Omega Ratio Rank: 2424
Omega Ratio Rank
FSUVX Calmar Ratio Rank: 2222
Calmar Ratio Rank
FSUVX Martin Ratio Rank: 3131
Martin Ratio Rank
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.

FEQHX vs. FSUVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Hedged Equity Fund (FEQHX) and Fidelity SAI U.S. Low Volatility Index Fund (FSUVX). 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.

FEQHXFSUVXDifference
Sharpe ratioReturn per unit of total volatility
2.03
1.36

+0.66

Sortino ratioReturn per unit of downside risk
2.82
1.96

+0.87

Omega ratioGain probability vs. loss probability

1.37

1.24

+0.13

Calmar ratioReturn relative to maximum drawdown

2.67

1.61

+1.06

Martin ratioReturn relative to average drawdown

10.27

6.69

+3.57

FEQHX vs. FSUVX - Sharpe Ratio Comparison

The current FEQHX Sharpe Ratio is 2.03, which is higher than the FSUVX Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FEQHX and FSUVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FEQHX vs. FSUVX - Drawdown Comparison

The maximum FEQHX drawdown since its inception was -10.42%, smaller than the maximum FSUVX drawdown of -32.41%. Use the drawdown chart below to compare losses from any high point for FEQHX and FSUVX.

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Drawdown Indicators

FEQHXFSUVXDifference

Max Drawdown

Largest peak-to-trough decline

-10.42%

-32.41%

+21.99%

Max Drawdown (1Y)

Largest decline over 1 year

-7.40%

-7.28%

-0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-10.42%

-11.55%

+1.13%

Max Drawdown (5Y)

Largest decline over 5 years

—

-19.48%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.41%

—

Current Drawdown

Current decline from peak

-2.01%

-2.76%

+0.75%

Average Drawdown

Average peak-to-trough decline

-2.22%

-3.27%

+1.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.92%

1.74%

+0.18%

Volatility

FEQHX vs. FSUVX - Volatility Comparison

Fidelity Hedged Equity Fund (FEQHX) has a higher volatility of 3.97% compared to Fidelity SAI U.S. Low Volatility Index Fund (FSUVX) at 2.71%. This indicates that FEQHX's price experiences larger fluctuations and is considered to be riskier than FSUVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEQHXFSUVXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.97%

2.71%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

7.45%

6.54%

+0.91%

Volatility (1Y)

Calculated over the trailing 1-year period

9.76%

8.59%

+1.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.32%

12.97%

-1.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.32%

15.19%

-3.87%

FEQHX vs. FSUVX - Expense Ratio Comparison

FEQHX has a 0.55% expense ratio, which is higher than FSUVX's 0.11% expense ratio.

Dividends

FEQHX vs. FSUVX - Dividend Comparison

FEQHX's dividend yield for the trailing twelve months is around 0.52%, less than FSUVX's 4.30% yield.

PositionTTM20252024202320222021202020192018201720162015
FEQHX
Fidelity Hedged Equity Fund		0.52%0.43%0.61%0.77%0.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
FSUVX
Fidelity SAI U.S. Low Volatility Index Fund		4.30%4.45%2.25%1.74%4.12%3.52%1.31%3.80%2.63%2.94%2.23%1.17%

Frequently Asked Questions

FEQHX and FSUVX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FEQHX has higher volatility (3.97%) compared to FSUVX (2.71%). In terms of maximum drawdown, FEQHX dropped -10.42% vs FSUVX's -32.41%.

FEQHX currently has the higher Sharpe Ratio (2.03 vs 1.36), 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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