FICVX vs. FTCVX

Last updated Jun 3, 2026

FICVX (Fidelity Advisor Convertible Securities Fund Class I) and FTCVX (Fidelity Advisor Convertible Securities Fund Class M) are both Preferred Stock/Convertible Bonds funds from Fidelity. Over the past 10 years, FICVX returned 13.15%/yr vs 12.73%/yr for FTCVX. With a 1.00 correlation, they move nearly in lockstep. FICVX charges 0.70%/yr vs 1.23%/yr for FTCVX.

Performance

FICVX vs. FTCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Convertible Securities Fund Class I (FICVX) and Fidelity Advisor Convertible Securities Fund Class M (FTCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FICVX having a 23.97% return and FTCVX slightly lower at 23.71%. Both investments have delivered pretty close results over the past 10 years, with FICVX having a 13.15% annualized return and FTCVX not far behind at 12.73%.

FICVX

• 1D: 0.90%
• 1M: 6.54%
• YTD: 23.97%
• 6M: 24.40%
• 1Y: 43.85%
• 3Y*: 19.15%
• 5Y*: 9.16%
• 10Y*: 13.15%

FTCVX

• 1D: 0.90%
• 1M: 6.49%
• YTD: 23.71%
• 6M: 24.09%
• 1Y: 43.10%
• 3Y*: 19.16%
• 5Y*: 8.94%
• 10Y*: 12.73%

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

FICVX vs. FTCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FICVX Fidelity Advisor Convertible Securities Fund Class I	23.97%	18.28%	8.11%	11.39%	-15.38%	9.93%	42.46%	28.58%	-1.31%	9.03%
FTCVX Fidelity Advisor Convertible Securities Fund Class M	23.71%	17.67%	7.70%	12.42%	-15.82%	9.35%	41.70%	27.83%	-1.88%	8.54%

Correlation

The correlation between FICVX and FTCVX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 20, 2009	1.00

The correlation between FICVX and FTCVX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FICVX vs. FTCVX — Risk / Return Rank

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

FICVX

FICVX Risk / Return Rank: 89
FICVX Sharpe Ratio Rank: 91
FICVX Sortino Ratio Rank: 82
FICVX Omega Ratio Rank: 79
FICVX Calmar Ratio Rank: 96
FICVX Martin Ratio Rank: 96

FTCVX

FTCVX Risk / Return Rank: 88
FTCVX Sharpe Ratio Rank: 90
FTCVX Sortino Ratio Rank: 81
FTCVX Omega Ratio Rank: 78
FTCVX Calmar Ratio Rank: 96
FTCVX Martin Ratio Rank: 96

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.

FICVX vs. FTCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Convertible Securities Fund Class I (FICVX) and Fidelity Advisor Convertible Securities Fund Class M (FTCVX). 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.

	FICVX	FTCVX	Difference
Sharpe ratio Return per unit of total volatility	3.01	2.96	+0.05
Sortino ratio Return per unit of downside risk	3.88	3.82	+0.07
Omega ratio Gain probability vs. loss probability	1.52	1.51	+0.01
Calmar ratio Return relative to maximum drawdown	6.22	6.10	+0.12
Martin ratio Return relative to average drawdown	24.47	23.82	+0.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FICVX vs. FTCVX - Sharpe Ratio Comparison

The current FICVX Sharpe Ratio is 3.01, which is comparable to the FTCVX Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of FICVX and FTCVX, 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

	FICVX	FTCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.01	2.96	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.67	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.94	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.99	+0.04

Drawdowns

FICVX vs. FTCVX - Drawdown Comparison

The maximum FICVX drawdown since its inception was -25.06%, roughly equal to the maximum FTCVX drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for FICVX and FTCVX.

Drawdown Indicators

	FICVX	FTCVX	Difference
Max Drawdown Largest peak-to-trough decline	-25.06%	-25.10%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-7.16%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-18.91%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-24.20%	-24.45%	+0.25%
Max Drawdown (10Y) Largest decline over 10 years	-25.06%	-25.10%	+0.04%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.63%	-5.85%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.83%	-0.01%

Volatility

FICVX vs. FTCVX - Volatility Comparison

Fidelity Advisor Convertible Securities Fund Class I (FICVX) and Fidelity Advisor Convertible Securities Fund Class M (FTCVX) have volatilities of 4.81% and 4.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FICVX	FTCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	4.81%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	11.86%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	14.85%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.48%	13.49%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	13.65%	-0.01%

FICVX vs. FTCVX - Expense Ratio Comparison

FICVX has a 0.70% expense ratio, which is lower than FTCVX's 1.23% expense ratio.

Dividends

FICVX vs. FTCVX - Dividend Comparison

FICVX's dividend yield for the trailing twelve months is around 8.91%, more than FTCVX's 8.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICVX Fidelity Advisor Convertible Securities Fund Class I	8.91%	11.38%	2.02%	2.12%	3.73%	20.65%	10.73%	3.28%	9.85%	4.09%	4.90%	10.39%
FTCVX Fidelity Advisor Convertible Securities Fund Class M	8.50%	10.89%	1.66%	3.03%	3.18%	20.07%	10.32%	2.74%	9.06%	3.78%	4.32%	9.73%

Frequently Asked Questions

Can I hold both FICVX and FTCVX in my portfolio?

With a correlation of 1.00, FICVX and FTCVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FICVX or FTCVX?

FTCVX has higher volatility (4.81%) compared to FICVX (4.81%). In terms of maximum drawdown, FICVX dropped -25.06% vs FTCVX's -25.10%.

Which has better risk-adjusted returns?

FICVX currently has the higher Sharpe Ratio (3.01 vs 2.96), 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.