FITIX vs. FMCSX

Last updated Jun 25, 2026

FITIX (Fidelity Advisor Mid Cap II Fund Class M) and FMCSX (Fidelity Mid-Cap Stock Fund) are both Mid Cap Blend Equities funds from Fidelity. Over the past 10 years, FITIX returned 13.43%/yr vs 13.30%/yr for FMCSX. Their correlation of 0.95 suggests significant overlap in exposure. FITIX charges 1.25%/yr vs 0.85%/yr for FMCSX.

Performance

FITIX vs. FMCSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mid Cap II Fund Class M (FITIX) and Fidelity Mid-Cap Stock Fund (FMCSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FITIX achieves a 23.95% return, which is significantly higher than FMCSX's 18.50% return. Both investments have delivered pretty close results over the past 10 years, with FITIX having a 13.43% annualized return and FMCSX not far behind at 13.30%.

FITIX

• 1D: -1.37%
• 1M: 5.28%
• YTD: 23.95%
• 6M: 21.12%
• 1Y: 38.40%
• 3Y*: 23.05%
• 5Y*: 12.12%
• 10Y*: 13.43%

FMCSX

• 1D: -1.30%
• 1M: 3.35%
• YTD: 18.50%
• 6M: 16.08%
• 1Y: 30.31%
• 3Y*: 18.77%
• 5Y*: 11.00%
• 10Y*: 13.30%

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

FITIX vs. FMCSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FITIX Fidelity Advisor Mid Cap II Fund Class M	23.95%	11.29%	22.41%	14.40%	-15.22%	24.61%	18.05%	23.04%	-15.37%	19.97%
FMCSX Fidelity Mid-Cap Stock Fund	18.50%	11.80%	14.55%	11.02%	-6.40%	28.64%	11.43%	25.39%	-6.67%	18.03%

Correlation

The correlation between FITIX and FMCSX is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 16, 2004	0.95

The correlation between FITIX and FMCSX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

FITIX vs. FMCSX — Risk / Return Rank

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

FITIX

FITIX Risk / Return Rank: 77
FITIX Sharpe Ratio Rank: 74
FITIX Sortino Ratio Rank: 69
FITIX Omega Ratio Rank: 64
FITIX Calmar Ratio Rank: 88
FITIX Martin Ratio Rank: 90

FMCSX

FMCSX Risk / Return Rank: 63
FMCSX Sharpe Ratio Rank: 52
FMCSX Sortino Ratio Rank: 51
FMCSX Omega Ratio Rank: 47
FMCSX Calmar Ratio Rank: 84
FMCSX 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.

FITIX vs. FMCSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Mid Cap II Fund Class M (FITIX) and Fidelity Mid-Cap Stock Fund (FMCSX). 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.

	FITIX	FMCSX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.96	+0.28
Sortino ratio: Return per unit of downside risk	3.05	2.74	+0.31
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	4.02	3.71	+0.31
Martin ratio: Return relative to average drawdown	16.06	14.22	+1.83

FITIX vs. FMCSX - Sharpe Ratio Comparison

The current FITIX Sharpe Ratio is 2.24, which is comparable to the FMCSX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FITIX and FMCSX, 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

FITIX vs. FMCSX - Drawdown Comparison

The maximum FITIX drawdown since its inception was -53.22%, smaller than the maximum FMCSX drawdown of -62.19%. Use the drawdown chart below to compare losses from any high point for FITIX and FMCSX.

Drawdown Indicators

	FITIX	FMCSX	Difference
Max Drawdown Largest peak-to-trough decline	-53.22%	-62.19%	+8.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.87%	-8.55%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-23.94%	-22.33%	-1.61%
Max Drawdown (5Y) Largest decline over 5 years	-25.10%	-22.33%	-2.77%
Max Drawdown (10Y) Largest decline over 10 years	-42.59%	-40.55%	-2.04%
Current Drawdown Current decline from peak	-1.37%	-1.82%	+0.45%
Average Drawdown Average peak-to-trough decline	-8.03%	-9.34%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.23%	+0.24%

Volatility

FITIX vs. FMCSX - Volatility Comparison

Fidelity Advisor Mid Cap II Fund Class M (FITIX) and Fidelity Mid-Cap Stock Fund (FMCSX) have volatilities of 5.88% and 5.74%, 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

	FITIX	FMCSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	5.74%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	14.28%	12.91%	+1.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.78%	16.25%	+1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.63%	17.78%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.13%	18.59%	+2.54%

FITIX vs. FMCSX - Expense Ratio Comparison

FITIX has a 1.25% expense ratio, which is higher than FMCSX's 0.85% expense ratio.

Dividends

FITIX vs. FMCSX - Dividend Comparison

FITIX's dividend yield for the trailing twelve months is around 6.00%, more than FMCSX's 5.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FITIX Fidelity Advisor Mid Cap II Fund Class M	6.00%	10.82%	11.68%	2.52%	5.82%	19.35%	1.01%	3.07%	10.58%	7.57%	9.20%	4.84%
FMCSX Fidelity Mid-Cap Stock Fund	5.23%	1.83%	8.94%	2.60%	5.44%	12.80%	6.72%	6.63%	18.48%	6.66%	8.25%	14.18%

Frequently Asked Questions

Can I hold both FITIX and FMCSX in my portfolio?

With a correlation of 0.97, FITIX and FMCSX 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, FITIX or FMCSX?

FITIX has higher volatility (5.88%) compared to FMCSX (5.74%). In terms of maximum drawdown, FITIX dropped -53.22% vs FMCSX's -62.19%.

Which has better risk-adjusted returns?

FITIX currently has the higher Sharpe Ratio (2.24 vs 1.96), 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.