FIDFX vs. FVLKX

Last updated Jul 14, 2026

FIDFX (Fidelity Advisor Mid Cap Value Fund Class Z) and FVLKX (Fidelity Value Fund Class K) are both Mid Cap Value Equities funds from Fidelity. Over the past 5 years, FIDFX returned 14.15%/yr vs 12.64%/yr for FVLKX. With a 0.97 correlation, they move nearly in lockstep. FIDFX charges 0.45%/yr vs 0.71%/yr for FVLKX.

Performance

FIDFX vs. FVLKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mid Cap Value Fund Class Z (FIDFX) and Fidelity Value Fund Class K (FVLKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIDFX achieves a 24.72% return, which is significantly higher than FVLKX's 22.63% return.

FIDFX

• 1D: 0.37%
• 1M: 2.57%
• 6M: 18.47%
• YTD: 24.72%
• 1Y: 35.59%
• 3Y*: 21.25%
• 5Y*: 14.15%
• 10Y*: —

FVLKX

• 1D: 0.36%
• 1M: 2.85%
• 6M: 16.24%
• YTD: 22.63%
• 1Y: 32.40%
• 3Y*: 19.95%
• 5Y*: 12.64%
• 10Y*: 12.96%

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

FIDFX vs. FVLKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDFX Fidelity Advisor Mid Cap Value Fund Class Z	24.72%	13.16%	14.66%	22.69%	-10.52%	34.11%	1.15%	23.72%	-18.82%	13.56%
FVLKX Fidelity Value Fund Class K	22.63%	11.37%	14.64%	19.65%	-8.91%	35.38%	9.41%	31.92%	-17.56%	11.12%

Correlation

The correlation between FIDFX and FVLKX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017	0.97

The correlation between FIDFX and FVLKX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

FIDFX vs. FVLKX — Risk / Return Rank

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

FIDFX

FIDFX Risk / Return Rank: 82
FIDFX Sharpe Ratio Rank: 80
FIDFX Sortino Ratio Rank: 81
FIDFX Omega Ratio Rank: 74
FIDFX Calmar Ratio Rank: 87
FIDFX Martin Ratio Rank: 88

FVLKX

FVLKX Risk / Return Rank: 76
FVLKX Sharpe Ratio Rank: 73
FVLKX Sortino Ratio Rank: 74
FVLKX Omega Ratio Rank: 65
FVLKX Calmar Ratio Rank: 84
FVLKX Martin Ratio Rank: 82

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.

FIDFX vs. FVLKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Mid Cap Value Fund Class Z (FIDFX) and Fidelity Value Fund Class K (FVLKX). 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.

	FIDFX	FVLKX	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.90	+0.18
Sortino ratio: Return per unit of downside risk	3.01	2.76	+0.25
Omega ratio: Gain probability vs. loss probability	1.36	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	3.37	3.18	+0.18
Martin ratio: Return relative to average drawdown	12.97	11.65	+1.32

FIDFX vs. FVLKX - Sharpe Ratio Comparison

The current FIDFX Sharpe Ratio is 2.08, which is comparable to the FVLKX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FIDFX and FVLKX, 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

FIDFX vs. FVLKX - Drawdown Comparison

The maximum FIDFX drawdown since its inception was -44.98%, smaller than the maximum FVLKX drawdown of -62.82%. Use the drawdown chart below to compare losses from any high point for FIDFX and FVLKX.

Drawdown Indicators

	FIDFX	FVLKX	Difference
Max Drawdown Largest peak-to-trough decline	-44.98%	-62.82%	+17.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-9.86%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-23.70%	-31.39%	+7.69%
Max Drawdown (5Y) Largest decline over 5 years	-23.70%	-31.39%	+7.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.62%	—
Current Drawdown Current decline from peak	-0.37%	-0.41%	+0.04%
Average Drawdown Average peak-to-trough decline	-6.82%	-9.37%	+2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.70%	-0.02%

Volatility

FIDFX vs. FVLKX - Volatility Comparison

Fidelity Advisor Mid Cap Value Fund Class Z (FIDFX) and Fidelity Value Fund Class K (FVLKX) have volatilities of 5.31% and 5.22%, 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

	FIDFX	FVLKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	5.22%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	12.48%	11.98%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	16.58%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	23.03%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	23.34%	-1.74%

FIDFX vs. FVLKX - Expense Ratio Comparison

FIDFX has a 0.45% expense ratio, which is lower than FVLKX's 0.71% expense ratio.

Dividends

FIDFX vs. FVLKX - Dividend Comparison

FIDFX's dividend yield for the trailing twelve months is around 6.34%, less than FVLKX's 8.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDFX Fidelity Advisor Mid Cap Value Fund Class Z	6.34%	8.32%	10.60%	1.30%	13.40%	1.43%	2.11%	2.03%	15.16%	9.15%	0.00%	0.00%
FVLKX Fidelity Value Fund Class K	8.18%	10.03%	20.95%	3.80%	7.16%	9.87%	1.06%	3.43%	16.38%	3.37%	1.36%	11.10%

Frequently Asked Questions

Can I hold both FIDFX and FVLKX in my portfolio?

With a correlation of 0.98, FIDFX and FVLKX 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, FIDFX or FVLKX?

FIDFX has higher volatility (5.31%) compared to FVLKX (5.22%). In terms of maximum drawdown, FIDFX dropped -44.98% vs FVLKX's -62.82%.

Which has better risk-adjusted returns?

FIDFX currently has the higher Sharpe Ratio (2.08 vs 1.90), 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.