FLCOX vs. HLQVX

Last updated Jun 26, 2026

FLCOX (Fidelity Large Cap Value Index Fund) and HLQVX (JPMorgan Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 5 years, FLCOX returned 10.92%/yr vs 12.30%/yr for HLQVX. With a 0.95 correlation, they move nearly in lockstep. FLCOX charges 0.04%/yr vs 0.69%/yr for HLQVX.

Performance

FLCOX vs. HLQVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Large Cap Value Index Fund (FLCOX) and JPMorgan Large Cap Value Fund (HLQVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCOX achieves a 15.46% return, which is significantly higher than HLQVX's 8.29% return.

FLCOX

• 1D: 0.04%
• 1M: 1.49%
• YTD: 15.46%
• 6M: 14.24%
• 1Y: 28.16%
• 3Y*: 18.65%
• 5Y*: 10.92%
• 10Y*: —

HLQVX

• 1D: 0.22%
• 1M: 1.79%
• YTD: 8.29%
• 6M: 6.87%
• 1Y: 22.55%
• 3Y*: 20.43%
• 5Y*: 12.30%
• 10Y*: 14.28%

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

FLCOX vs. HLQVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCOX Fidelity Large Cap Value Index Fund	15.46%	15.90%	14.38%	11.48%	-7.57%	25.09%	2.87%	26.54%	-8.38%	10.90%
HLQVX JPMorgan Large Cap Value Fund	8.29%	15.67%	27.12%	11.35%	-0.11%	23.57%	10.54%	27.44%	-15.21%	17.67%

Correlation

The correlation between FLCOX and HLQVX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.95

The correlation between FLCOX and HLQVX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

FLCOX vs. HLQVX — Risk / Return Rank

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

FLCOX

FLCOX Risk / Return Rank: 86
FLCOX Sharpe Ratio Rank: 86
FLCOX Sortino Ratio Rank: 84
FLCOX Omega Ratio Rank: 80
FLCOX Calmar Ratio Rank: 90
FLCOX Martin Ratio Rank: 93

HLQVX

HLQVX Risk / Return Rank: 46
HLQVX Sharpe Ratio Rank: 48
HLQVX Sortino Ratio Rank: 48
HLQVX Omega Ratio Rank: 44
HLQVX Calmar Ratio Rank: 49
HLQVX Martin Ratio Rank: 41

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.

FLCOX vs. HLQVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Large Cap Value Index Fund (FLCOX) and JPMorgan Large Cap Value Fund (HLQVX). 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.

	FLCOX	HLQVX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.69	+0.76
Sortino ratio: Return per unit of downside risk	3.43	2.40	+1.04
Omega ratio: Gain probability vs. loss probability	1.44	1.29	+0.14
Calmar ratio: Return relative to maximum drawdown	4.05	2.32	+1.73
Martin ratio: Return relative to average drawdown	16.84	7.72	+9.12

FLCOX vs. HLQVX - Sharpe Ratio Comparison

The current FLCOX Sharpe Ratio is 2.44, which is higher than the HLQVX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FLCOX and HLQVX, 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

FLCOX vs. HLQVX - Drawdown Comparison

The maximum FLCOX drawdown since its inception was -38.28%, smaller than the maximum HLQVX drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for FLCOX and HLQVX.

Drawdown Indicators

	FLCOX	HLQVX	Difference
Max Drawdown Largest peak-to-trough decline	-38.28%	-60.03%	+21.75%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-9.31%	+2.51%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-16.11%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-19.00%	-18.38%	-0.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.21%	—
Current Drawdown Current decline from peak	-1.12%	-1.17%	+0.05%
Average Drawdown Average peak-to-trough decline	-4.43%	-9.38%	+4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.79%	-1.16%

Volatility

FLCOX vs. HLQVX - Volatility Comparison

The current volatility for Fidelity Large Cap Value Index Fund (FLCOX) is 4.14%, while JPMorgan Large Cap Value Fund (HLQVX) has a volatility of 4.71%. This indicates that FLCOX experiences smaller price fluctuations and is considered to be less risky than HLQVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCOX	HLQVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	4.71%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	9.78%	-1.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	12.84%	-1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	16.37%	-1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.62%	20.30%	-2.68%

FLCOX vs. HLQVX - Expense Ratio Comparison

FLCOX has a 0.04% expense ratio, which is lower than HLQVX's 0.69% expense ratio.

Dividends

FLCOX vs. HLQVX - Dividend Comparison

FLCOX's dividend yield for the trailing twelve months is around 1.31%, less than HLQVX's 7.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLCOX Fidelity Large Cap Value Index Fund	1.31%	1.51%	1.92%	1.99%	2.01%	1.55%	2.28%	3.82%	2.79%	0.60%	0.00%	0.00%
HLQVX JPMorgan Large Cap Value Fund	7.39%	8.05%	20.76%	5.44%	5.80%	8.22%	1.05%	1.38%	9.09%	9.21%	5.91%	14.85%

Frequently Asked Questions

Can I hold both FLCOX and HLQVX in my portfolio?

With a correlation of 0.95, FLCOX and HLQVX 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, FLCOX or HLQVX?

HLQVX has higher volatility (4.71%) compared to FLCOX (4.14%). In terms of maximum drawdown, FLCOX dropped -38.28% vs HLQVX's -60.03%.

Which has better risk-adjusted returns?

FLCOX currently has the higher Sharpe Ratio (2.44 vs 1.69), 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.