FIQOX vs. LVAFX

Last updated Jul 14, 2026

FIQOX (Fidelity Advisor Worldwide Fund Class Z) and LVAFX (LSV Global Managed Volatility Fund) are both Global Equities funds. Over the past 5 years, FIQOX returned 14.90%/yr vs 8.34%/yr for LVAFX. A 0.68 correlation means they provide meaningful diversification when combined. FIQOX charges 0.90%/yr vs 1.00%/yr for LVAFX.

Performance

FIQOX vs. LVAFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Worldwide Fund Class Z (FIQOX) and LSV Global Managed Volatility Fund (LVAFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIQOX achieves a 20.50% return, which is significantly higher than LVAFX's 12.69% return.

FIQOX

• 1D: -0.05%
• 1M: 1.01%
• 6M: 16.67%
• YTD: 20.50%
• 1Y: 31.67%
• 3Y*: 29.89%
• 5Y*: 14.90%
• 10Y*: —

LVAFX

• 1D: 0.32%
• 1M: -1.10%
• 6M: 11.00%
• YTD: 12.69%
• 1Y: 23.18%
• 3Y*: 13.46%
• 5Y*: 8.34%
• 10Y*: 7.89%

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

FIQOX vs. LVAFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQOX Fidelity Advisor Worldwide Fund Class Z	20.50%	16.27%	46.05%	25.10%	-25.64%	18.58%	31.08%	29.13%	-10.40%
LVAFX LSV Global Managed Volatility Fund	12.69%	22.33%	0.10%	9.81%	-4.04%	17.36%	-5.16%	17.54%	-6.13%

Correlation

The correlation between FIQOX and LVAFX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.68

Over the past year, the correlation between FIQOX and LVAFX has dropped to 0.46 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

FIQOX vs. LVAFX — Risk / Return Rank

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

FIQOX

FIQOX Risk / Return Rank: 60
FIQOX Sharpe Ratio Rank: 52
FIQOX Sortino Ratio Rank: 47
FIQOX Omega Ratio Rank: 50
FIQOX Calmar Ratio Rank: 73
FIQOX Martin Ratio Rank: 77

LVAFX

LVAFX Risk / Return Rank: 91
LVAFX Sharpe Ratio Rank: 93
LVAFX Sortino Ratio Rank: 91
LVAFX Omega Ratio Rank: 86
LVAFX Calmar Ratio Rank: 92
LVAFX Martin Ratio Rank: 90

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.

FIQOX vs. LVAFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Worldwide Fund Class Z (FIQOX) and LSV Global Managed Volatility Fund (LVAFX). 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.

	FIQOX	LVAFX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.60	-0.99
Sortino ratio: Return per unit of downside risk	2.20	3.81	-1.61
Omega ratio: Gain probability vs. loss probability	1.29	1.47	-0.18
Calmar ratio: Return relative to maximum drawdown	2.64	3.91	-1.27
Martin ratio: Return relative to average drawdown	10.88	13.53	-2.65

FIQOX vs. LVAFX - Sharpe Ratio Comparison

The current FIQOX Sharpe Ratio is 1.61, which is lower than the LVAFX Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of FIQOX and LVAFX, 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

FIQOX vs. LVAFX - Drawdown Comparison

The maximum FIQOX drawdown since its inception was -33.64%, roughly equal to the maximum LVAFX drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FIQOX and LVAFX.

Drawdown Indicators

	FIQOX	LVAFX	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-33.69%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-5.76%	-5.98%
Max Drawdown (3Y) Largest decline over 3 years	-22.59%	-17.52%	-5.07%
Max Drawdown (5Y) Largest decline over 5 years	-33.64%	-18.34%	-15.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.69%	—
Current Drawdown Current decline from peak	-3.00%	-1.10%	-1.90%
Average Drawdown Average peak-to-trough decline	-7.78%	-4.73%	-3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	1.66%	+1.18%

Volatility

FIQOX vs. LVAFX - Volatility Comparison

Fidelity Advisor Worldwide Fund Class Z (FIQOX) has a higher volatility of 8.00% compared to LSV Global Managed Volatility Fund (LVAFX) at 2.88%. This indicates that FIQOX's price experiences larger fluctuations and is considered to be riskier than LVAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQOX	LVAFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	2.88%	+5.12%
Volatility (6M) Calculated over the trailing 6-month period	15.99%	6.58%	+9.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.28%	8.67%	+10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	13.23%	+7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	13.52%	+7.77%

FIQOX vs. LVAFX - Expense Ratio Comparison

FIQOX has a 0.90% expense ratio, which is lower than LVAFX's 1.00% expense ratio.

Dividends

FIQOX vs. LVAFX - Dividend Comparison

FIQOX's dividend yield for the trailing twelve months is around 9.63%, more than LVAFX's 9.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQOX Fidelity Advisor Worldwide Fund Class Z	9.63%	11.60%	26.02%	1.10%	6.51%	12.99%	8.23%	5.09%	9.32%	0.00%	0.00%	0.00%
LVAFX LSV Global Managed Volatility Fund	9.03%	10.17%	2.71%	15.64%	2.90%	2.90%	2.14%	7.62%	3.59%	7.10%	1.66%	1.74%

Frequently Asked Questions

Can I hold both FIQOX and LVAFX in my portfolio?

FIQOX and LVAFX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQOX or LVAFX?

FIQOX has higher volatility (8.00%) compared to LVAFX (2.88%). In terms of maximum drawdown, FIQOX dropped -33.64% vs LVAFX's -33.69%.

Which has better risk-adjusted returns?

LVAFX currently has the higher Sharpe Ratio (2.60 vs 1.61), 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.