FIDLX vs. FALIX

Last updated Jun 4, 2026

FIDLX (Fidelity Advisor Large Cap Fund Class Z) and FALIX (Fidelity Advisor Large Cap Fund Class I) are both Large Cap Value Equities funds from Fidelity. Over the past 5 years, FIDLX returned 12.51%/yr vs 12.39%/yr for FALIX. With a 1.00 correlation, they move nearly in lockstep. FIDLX charges 0.42%/yr vs 0.54%/yr for FALIX.

Performance

FIDLX vs. FALIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Large Cap Fund Class Z (FIDLX) and Fidelity Advisor Large Cap Fund Class I (FALIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIDLX

• 1D: 0.00%
• 1M: 0.02%
• YTD: 0.02%
• 6M: 0.02%
• 1Y: 12.15%
• 3Y*: 19.21%
• 5Y*: 12.51%
• 10Y*: —

FALIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 12.07%
• 3Y*: 19.09%
• 5Y*: 12.39%
• 10Y*: 14.12%

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

FIDLX vs. FALIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIDLX Fidelity Advisor Large Cap Fund Class Z	0.02%	19.77%	26.52%	23.65%	-7.81%	25.99%	8.97%	31.90%	-8.31%	13.58%
FALIX Fidelity Advisor Large Cap Fund Class I	0.00%	19.65%	26.36%	23.49%	-7.91%	25.81%	8.85%	31.71%	-8.42%	13.62%

Correlation

The correlation between FIDLX and FALIX 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 (All Time) Calculated using the full available price history since Feb 10, 2017	1.00

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

Return for Risk

FIDLX vs. FALIX — Risk / Return Rank

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

FIDLX

FIDLX Risk / Return Rank: 45
FIDLX Sharpe Ratio Rank: 39
FIDLX Sortino Ratio Rank: 38
FIDLX Omega Ratio Rank: 74
FIDLX Calmar Ratio Rank: 58
FIDLX Martin Ratio Rank: 18

FALIX

FALIX Risk / Return Rank: 45
FALIX Sharpe Ratio Rank: 38
FALIX Sortino Ratio Rank: 37
FALIX Omega Ratio Rank: 74
FALIX Calmar Ratio Rank: 57
FALIX Martin Ratio Rank: 18

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.

FIDLX vs. FALIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Large Cap Fund Class Z (FIDLX) and Fidelity Advisor Large Cap Fund Class I (FALIX). 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.

	FIDLX	FALIX	Difference
Sharpe ratio Return per unit of total volatility	1.82	1.81	+0.01
Sortino ratio Return per unit of downside risk	2.55	2.54	+0.01
Omega ratio Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio Return relative to maximum drawdown	2.91	2.89	+0.02
Martin ratio Return relative to average drawdown	4.96	4.92	+0.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIDLX vs. FALIX - Sharpe Ratio Comparison

The current FIDLX Sharpe Ratio is 1.82, which is comparable to the FALIX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of FIDLX and FALIX, 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

	FIDLX	FALIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	1.81	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.78	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.48	+0.25

Drawdowns

FIDLX vs. FALIX - Drawdown Comparison

The maximum FIDLX drawdown since its inception was -37.51%, smaller than the maximum FALIX drawdown of -62.37%. Use the drawdown chart below to compare losses from any high point for FIDLX and FALIX.

Drawdown Indicators

	FIDLX	FALIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.51%	-62.37%	+24.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.03%	-5.03%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.86%	-18.89%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-21.42%	-21.48%	+0.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.51%	—
Current Drawdown Current decline from peak	-4.15%	-4.17%	+0.02%
Average Drawdown Average peak-to-trough decline	-4.54%	-13.28%	+8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.78%	0.00%

Volatility

FIDLX vs. FALIX - Volatility Comparison

Fidelity Advisor Large Cap Fund Class Z (FIDLX) has a higher volatility of 0.02% compared to Fidelity Advisor Large Cap Fund Class I (FALIX) at 0.00%. This indicates that FIDLX's price experiences larger fluctuations and is considered to be riskier than FALIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIDLX	FALIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.02%	0.00%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.22%	4.20%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	8.08%	8.06%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	16.44%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	18.58%	+0.34%

FIDLX vs. FALIX - Expense Ratio Comparison

FIDLX has a 0.42% expense ratio, which is lower than FALIX's 0.54% expense ratio.

Dividends

FIDLX vs. FALIX - Dividend Comparison

FIDLX's dividend yield for the trailing twelve months is around 5.87%, which matches FALIX's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FALIX Fidelity Advisor Large Cap Fund Class I	5.86%	5.86%	6.10%	3.43%	2.28%	6.51%	5.39%	8.35%	16.78%	6.13%	2.25%	3.16%
FIDLX Fidelity Advisor Large Cap Fund Class Z	5.87%	5.87%	6.23%	3.56%	2.42%	6.64%	5.53%	8.55%	17.01%	6.13%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIDLX and FALIX in my portfolio?

With a correlation of 1.00, FIDLX and FALIX 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, FIDLX or FALIX?

FIDLX has higher volatility (0.02%) compared to FALIX (0.00%). In terms of maximum drawdown, FIDLX dropped -37.51% vs FALIX's -62.37%.

Which has better risk-adjusted returns?

FIDLX currently has the higher Sharpe Ratio (1.82 vs 1.81), 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.