FIOOX vs. FEQIX

Last updated Aug 4, 2026

FIOOX (Fidelity Series Large Cap Value Index Fund) and FEQIX (Fidelity Equity-Income Fund) are both Large Cap Value Equities funds from Fidelity. Over the past 10 years, FIOOX returned 11.51%/yr vs 12.06%/yr for FEQIX. Their 0.97 correlation means they have historically moved very closely together. FIOOX charges 0.00%/yr vs 0.57%/yr for FEQIX.

Performance

FIOOX vs. FEQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Large Cap Value Index Fund (FIOOX) and Fidelity Equity-Income Fund (FEQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIOOX achieves a 20.69% return, which is significantly higher than FEQIX's 13.60% return. Both investments have delivered pretty close results over the past 10 years, with FIOOX having a 11.51% annualized return and FEQIX not far ahead at 12.06%.

FIOOX

• 1D: 0.46%
• 1M: 1.99%
• 6M: 14.47%
• YTD: 20.69%
• 1Y: 32.96%
• 3Y*: 18.06%
• 5Y*: 11.86%
• 10Y*: 11.51%
• ALL TIME*: 10.46%

FEQIX

• 1D: 0.50%
• 1M: 1.70%
• 6M: 8.89%
• YTD: 13.60%
• 1Y: 24.30%
• 3Y*: 17.37%
• 5Y*: 11.70%
• 10Y*: 12.06%
• ALL TIME*: 8.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEQIX Fidelity Equity-Income Fund	$0.00	$0.00	$0.00
FIOOX Fidelity Series Large Cap Value Index Fund	$0.00	$0.00	$0.00

FIOOX vs. FEQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIOOX Fidelity Series Large Cap Value Index Fund	20.69%	15.95%	14.34%	11.60%	-7.56%	25.23%	2.85%	26.57%	-8.28%	11.06%
FEQIX Fidelity Equity-Income Fund	13.60%	18.96%	15.34%	10.62%	-5.10%	24.49%	6.77%	27.90%	-8.46%	12.80%

Correlation

The correlation between FIOOX and FEQIX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013	0.97

The correlation between FIOOX and FEQIX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

FIOOX vs. FEQIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIOOX

FIOOX Risk / Return Rank: 95
FIOOX Sharpe Ratio Rank: 96
FIOOX Sortino Ratio Rank: 94
FIOOX Omega Ratio Rank: 91
FIOOX Calmar Ratio Rank: 96
FIOOX Martin Ratio Rank: 97

FEQIX

FEQIX Risk / Return Rank: 91
FEQIX Sharpe Ratio Rank: 93
FEQIX Sortino Ratio Rank: 91
FEQIX Omega Ratio Rank: 87
FEQIX Calmar Ratio Rank: 91
FEQIX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIOOX vs. FEQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Large Cap Value Index Fund (FIOOX) and Fidelity Equity-Income Fund (FEQIX). 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.

	FIOOX	FEQIX	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.42	+0.35
Sortino ratio: Return per unit of downside risk	3.86	3.47	+0.39
Omega ratio: Gain probability vs. loss probability	1.50	1.44	+0.06
Calmar ratio: Return relative to maximum drawdown	4.62	3.59	+1.03
Martin ratio: Return relative to average drawdown	19.74	14.73	+5.01

FIOOX vs. FEQIX - Sharpe Ratio Comparison

The current FIOOX Sharpe Ratio is 2.77, which is comparable to the FEQIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FIOOX and FEQIX, 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

FIOOX vs. FEQIX - Drawdown Comparison

The maximum FIOOX drawdown since its inception was -38.31%, smaller than the maximum FEQIX drawdown of -62.38%. Use the drawdown chart below to compare losses from any high point for FIOOX and FEQIX.

Drawdown Indicators

	FIOOX	FEQIX	Difference
Max Drawdown Largest peak-to-trough decline	-38.31%	-62.38%	+24.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-6.48%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.66%	-13.18%	-2.48%
Max Drawdown (5Y) Largest decline over 5 years	-19.02%	-17.20%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-38.31%	-33.12%	-5.19%
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-4.00%	-7.98%	+3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.58%	+0.01%

Volatility

FIOOX vs. FEQIX - Volatility Comparison

Fidelity Series Large Cap Value Index Fund (FIOOX) has a higher volatility of 2.86% compared to Fidelity Equity-Income Fund (FEQIX) at 2.70%. This indicates that FIOOX's price experiences larger fluctuations and is considered to be riskier than FEQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIOOX	FEQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.70%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	7.35%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	9.66%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	13.38%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	15.40%	+1.94%

FIOOX vs. FEQIX - Expense Ratio Comparison

FIOOX has a 0.00% expense ratio, which is lower than FEQIX's 0.57% expense ratio.

Dividends

FIOOX vs. FEQIX - Dividend Comparison

FIOOX's dividend yield for the trailing twelve months is around 2.92%, less than FEQIX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQIX Fidelity Equity-Income Fund	4.42%	4.67%	5.51%	4.26%	4.56%	9.90%	3.38%	7.16%	9.76%	6.29%	4.28%	12.17%
FIOOX Fidelity Series Large Cap Value Index Fund	2.92%	3.66%	3.30%	4.31%	4.39%	6.12%	2.59%	6.82%	4.99%	1.74%	2.48%	6.77%

Frequently Asked Questions

Can I hold both FIOOX and FEQIX in my portfolio?

With a correlation of 0.90, FIOOX and FEQIX 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, FIOOX or FEQIX?

FIOOX has higher volatility (2.86%) compared to FEQIX (2.70%). In terms of maximum drawdown, FIOOX dropped -38.31% vs FEQIX's -62.38%.

Which has better risk-adjusted returns?

FIOOX currently has the higher Sharpe Ratio (2.77 vs 2.42), 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.