FICVX vs. NCV

Last updated Jul 15, 2026

FICVX (Fidelity Advisor Convertible Securities Fund Class I) and NCV (Virtus Convertible and Income Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, FICVX returned 12.10%/yr vs 7.44%/yr for NCV. A 0.58 correlation means they provide meaningful diversification when combined. FICVX charges 0.70%/yr vs 0.03%/yr for NCV.

Performance

FICVX vs. NCV - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FICVX having a 16.86% return and NCV slightly higher at 17.13%. Over the past 10 years, FICVX has outperformed NCV with an annualized return of 12.10%, while NCV has yielded a comparatively lower 7.44% annualized return.

FICVX

• 1D: -1.44%
• 1M: -3.46%
• 6M: 11.32%
• YTD: 16.86%
• 1Y: 27.34%
• 3Y*: 15.22%
• 5Y*: 7.92%
• 10Y*: 12.10%

NCV

• 1D: -0.42%
• 1M: -1.07%
• 6M: 12.41%
• YTD: 17.13%
• 1Y: 32.35%
• 3Y*: 20.23%
• 5Y*: 5.02%
• 10Y*: 7.44%

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

FICVX vs. NCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FICVX Fidelity Advisor Convertible Securities Fund Class I	16.86%	18.28%	8.11%	11.39%	-15.38%	9.93%	42.46%	28.58%	-1.31%	9.03%
NCV Virtus Convertible and Income Fund	17.13%	22.57%	16.18%	12.66%	-34.02%	10.68%	11.64%	24.12%	-17.25%	23.24%

Correlation

The correlation between FICVX and NCV 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	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 19, 2009	0.58

The correlation between FICVX and NCV shifts across timeframes, from 0.58 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FICVX vs. NCV — Risk / Return Rank

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

FICVX

FICVX Risk / Return Rank: 70
FICVX Sharpe Ratio Rank: 63
FICVX Sortino Ratio Rank: 54
FICVX Omega Ratio Rank: 53
FICVX Calmar Ratio Rank: 93
FICVX Martin Ratio Rank: 87

NCV

NCV Risk / Return Rank: 78
NCV Sharpe Ratio Rank: 80
NCV Sortino Ratio Rank: 75
NCV Omega Ratio Rank: 74
NCV Calmar Ratio Rank: 79
NCV Martin Ratio Rank: 81

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. NCV - Risk-Adjusted Trends Comparison

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

	FICVX	NCV	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.05	-0.31
Sortino ratio: Return per unit of downside risk	2.32	2.75	-0.43
Omega ratio: Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio: Return relative to maximum drawdown	3.96	2.86	+1.11
Martin ratio: Return relative to average drawdown	12.49	11.27	+1.22

FICVX vs. NCV - Sharpe Ratio Comparison

The current FICVX Sharpe Ratio is 1.74, which is comparable to the NCV Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FICVX and NCV, 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

FICVX vs. NCV - Drawdown Comparison

The maximum FICVX drawdown since its inception was -25.06%, smaller than the maximum NCV drawdown of -78.94%. Use the drawdown chart below to compare losses from any high point for FICVX and NCV.

Drawdown Indicators

	FICVX	NCV	Difference
Max Drawdown Largest peak-to-trough decline	-25.06%	-78.94%	+53.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-11.38%	+4.24%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-17.80%	-1.08%
Max Drawdown (5Y) Largest decline over 5 years	-24.20%	-44.60%	+20.40%
Max Drawdown (10Y) Largest decline over 10 years	-25.06%	-56.18%	+31.12%
Current Drawdown Current decline from peak	-6.82%	-4.03%	-2.79%
Average Drawdown Average peak-to-trough decline	-5.61%	-13.83%	+8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.88%	-0.62%

Volatility

FICVX vs. NCV - Volatility Comparison

Fidelity Advisor Convertible Securities Fund Class I (FICVX) and Virtus Convertible and Income Fund (NCV) have volatilities of 5.49% and 5.52%, 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	NCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	5.52%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	13.12%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	16.30%	15.86%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	20.68%	-6.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.77%	24.86%	-11.09%

FICVX vs. NCV - Expense Ratio Comparison

FICVX has a 0.70% expense ratio, which is higher than NCV's 0.03% expense ratio.

Dividends

FICVX vs. NCV - Dividend Comparison

FICVX's dividend yield for the trailing twelve months is around 8.94%, less than NCV's 9.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FICVX Fidelity Advisor Convertible Securities Fund Class I	8.94%	11.38%	2.02%	2.12%	3.73%	20.65%	10.73%	3.28%	9.85%	4.09%	4.90%	10.39%
NCV Virtus Convertible and Income Fund	9.74%	10.77%	11.76%	12.86%	15.00%	8.75%	9.41%	11.61%	15.03%	11.10%	12.23%	17.69%

Frequently Asked Questions

Can I hold both FICVX and NCV in my portfolio?

FICVX and NCV 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, FICVX or NCV?

NCV has higher volatility (5.52%) compared to FICVX (5.49%). In terms of maximum drawdown, FICVX dropped -25.06% vs NCV's -78.94%.

Which has better risk-adjusted returns?

NCV currently has the higher Sharpe Ratio (2.05 vs 1.74), 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.