FIKNX vs. BRSIX

Last updated Jun 25, 2026

FIKNX (Fidelity Advisor Small Cap Value Fund Class Z) and BRSIX (Bridgeway Ultra Small Company Market Fund) are both Small Cap Value Equities funds. Over the past 5 years, FIKNX returned 9.48%/yr vs -0.43%/yr for BRSIX. Their correlation of 0.81 suggests significant overlap in exposure. FIKNX charges 0.87%/yr vs 0.78%/yr for BRSIX.

Performance

FIKNX vs. BRSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Value Fund Class Z (FIKNX) and Bridgeway Ultra Small Company Market Fund (BRSIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKNX achieves a 23.29% return, which is significantly higher than BRSIX's 18.82% return.

FIKNX

• 1D: -0.44%
• 1M: 4.93%
• YTD: 23.29%
• 6M: 20.59%
• 1Y: 36.52%
• 3Y*: 18.68%
• 5Y*: 9.48%
• 10Y*: —

BRSIX

• 1D: 0.22%
• 1M: 1.11%
• YTD: 18.82%
• 6M: 16.32%
• 1Y: 52.10%
• 3Y*: 21.24%
• 5Y*: -0.43%
• 10Y*: 8.67%

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

FIKNX vs. BRSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIKNX Fidelity Advisor Small Cap Value Fund Class Z	23.29%	8.18%	8.00%	17.97%	-12.98%	38.27%	11.35%	20.98%	-13.08%
BRSIX Bridgeway Ultra Small Company Market Fund	18.82%	20.09%	14.92%	11.46%	-23.43%	-1.93%	25.50%	15.34%	-21.68%

Correlation

The correlation between FIKNX and BRSIX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.81

The correlation between FIKNX and BRSIX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

FIKNX vs. BRSIX — Risk / Return Rank

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

FIKNX

FIKNX Risk / Return Rank: 72
FIKNX Sharpe Ratio Rank: 68
FIKNX Sortino Ratio Rank: 73
FIKNX Omega Ratio Rank: 57
FIKNX Calmar Ratio Rank: 85
FIKNX Martin Ratio Rank: 78

BRSIX

BRSIX Risk / Return Rank: 75
BRSIX Sharpe Ratio Rank: 77
BRSIX Sortino Ratio Rank: 66
BRSIX Omega Ratio Rank: 55
BRSIX Calmar Ratio Rank: 93
BRSIX Martin Ratio Rank: 85

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.

FIKNX vs. BRSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Value Fund Class Z (FIKNX) and Bridgeway Ultra Small Company Market Fund (BRSIX). 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.

	FIKNX	BRSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.33	-0.21
Sortino ratio: Return per unit of downside risk	3.12	3.04	+0.08
Omega ratio: Gain probability vs. loss probability	1.36	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	3.71	4.89	-1.17
Martin ratio: Return relative to average drawdown	13.02	14.66	-1.64

FIKNX vs. BRSIX - Sharpe Ratio Comparison

The current FIKNX Sharpe Ratio is 2.12, which is comparable to the BRSIX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FIKNX and BRSIX, 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

FIKNX vs. BRSIX - Drawdown Comparison

The maximum FIKNX drawdown since its inception was -44.09%, smaller than the maximum BRSIX drawdown of -61.79%. Use the drawdown chart below to compare losses from any high point for FIKNX and BRSIX.

Drawdown Indicators

	FIKNX	BRSIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.09%	-61.79%	+17.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-11.46%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-24.87%	-30.80%	+5.93%
Max Drawdown (5Y) Largest decline over 5 years	-24.87%	-53.66%	+28.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-54.09%	—
Current Drawdown Current decline from peak	-0.44%	-3.50%	+3.06%
Average Drawdown Average peak-to-trough decline	-7.61%	-15.61%	+8.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.81%	-0.86%

Volatility

FIKNX vs. BRSIX - Volatility Comparison

The current volatility for Fidelity Advisor Small Cap Value Fund Class Z (FIKNX) is 5.88%, while Bridgeway Ultra Small Company Market Fund (BRSIX) has a volatility of 7.88%. This indicates that FIKNX experiences smaller price fluctuations and is considered to be less risky than BRSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKNX	BRSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	7.88%	-2.00%
Volatility (6M) Calculated over the trailing 6-month period	13.44%	16.09%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	18.19%	24.04%	-5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.97%	24.60%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	24.18%	+0.42%

FIKNX vs. BRSIX - Expense Ratio Comparison

FIKNX has a 0.87% expense ratio, which is higher than BRSIX's 0.78% expense ratio.

Dividends

FIKNX vs. BRSIX - Dividend Comparison

FIKNX's dividend yield for the trailing twelve months is around 8.31%, more than BRSIX's 0.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRSIX Bridgeway Ultra Small Company Market Fund	0.87%	1.03%	0.62%	0.89%	2.12%	1.32%	3.46%	1.30%	16.12%	13.71%	8.25%	12.77%
FIKNX Fidelity Advisor Small Cap Value Fund Class Z	8.31%	10.24%	4.82%	5.32%	5.92%	8.07%	0.58%	3.65%	8.42%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIKNX and BRSIX in my portfolio?

FIKNX and BRSIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIKNX or BRSIX?

BRSIX has higher volatility (7.88%) compared to FIKNX (5.88%). In terms of maximum drawdown, FIKNX dropped -44.09% vs BRSIX's -61.79%.

Which has better risk-adjusted returns?

BRSIX currently has the higher Sharpe Ratio (2.33 vs 2.12), 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.