FMCAX vs. LLSCX
FMCAX (Fidelity Advisor Stock Selector Mid Cap Fund Class M) and LLSCX (Longleaf Partners Small-Cap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, FMCAX returned 11.61%/yr vs 5.79%/yr for LLSCX. A 0.77 correlation means they provide meaningful diversification when combined. FMCAX charges 1.29%/yr vs 0.95%/yr for LLSCX.
Performance
FMCAX vs. LLSCX - Performance Comparison
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Returns By Period
In the year-to-date period, FMCAX achieves a 20.51% return, which is significantly higher than LLSCX's -3.27% return. Over the past 10 years, FMCAX has outperformed LLSCX with an annualized return of 11.61%, while LLSCX has yielded a comparatively lower 5.79% annualized return.
FMCAX
- 1D
- 0.29%
- 1M
- 1.13%
- 6M
- 13.64%
- YTD
- 20.51%
- 1Y
- 25.99%
- 3Y*
- 14.55%
- 5Y*
- 9.31%
- 10Y*
- 11.61%
LLSCX
- 1D
- 2.14%
- 1M
- 4.15%
- 6M
- -5.92%
- YTD
- -3.27%
- 1Y
- -2.64%
- 3Y*
- 6.77%
- 5Y*
- 2.18%
- 10Y*
- 5.79%
FMCAX vs. LLSCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMCAX Fidelity Advisor Stock Selector Mid Cap Fund Class M | 20.51% | 9.87% | 8.94% | 16.59% | -14.31% | 22.62% | 12.48% | 28.98% | -8.06% | 19.55% |
LLSCX Longleaf Partners Small-Cap Fund | -3.27% | 7.56% | 9.69% | 20.17% | -19.25% | 11.18% | 4.17% | 27.74% | -6.52% | 9.07% |
Correlation
The correlation between FMCAX and LLSCX is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 1996 | 0.77 |
Over the past year, the correlation between FMCAX and LLSCX has dropped to 0.56 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
FMCAX vs. LLSCX — Risk / Return Rank
FMCAX
LLSCX
FMCAX vs. LLSCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector Mid Cap Fund Class M (FMCAX) and Longleaf Partners Small-Cap Fund (LLSCX). 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.
| FMCAX | LLSCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.98 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | -0.21 | +3.37 |
| Martin ratioReturn relative to average drawdown | 11.58 | -0.42 | +12.00 |
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Drawdowns
FMCAX vs. LLSCX - Drawdown Comparison
The maximum FMCAX drawdown since its inception was -65.06%, roughly equal to the maximum LLSCX drawdown of -63.97%. Use the drawdown chart below to compare losses from any high point for FMCAX and LLSCX.
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Drawdown Indicators
| FMCAX | LLSCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.06% | -63.97% | -1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -8.72% | -11.44% | +2.72% |
Max Drawdown (3Y)Largest decline over 3 years | -25.04% | -15.40% | -9.64% |
Max Drawdown (5Y)Largest decline over 5 years | -25.04% | -26.67% | +1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -43.42% | -42.23% | -1.19% |
Current DrawdownCurrent decline from peak | -1.85% | -7.53% | +5.68% |
Average DrawdownAverage peak-to-trough decline | -10.92% | -8.90% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 5.57% | -3.19% |
Volatility
FMCAX vs. LLSCX - Volatility Comparison
The current volatility for Fidelity Advisor Stock Selector Mid Cap Fund Class M (FMCAX) is 4.01%, while Longleaf Partners Small-Cap Fund (LLSCX) has a volatility of 4.93%. This indicates that FMCAX experiences smaller price fluctuations and is considered to be less risky than LLSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMCAX | LLSCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 4.93% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 9.70% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 13.11% | +3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.03% | 17.00% | +3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.96% | 24.55% | -3.59% |
FMCAX vs. LLSCX - Expense Ratio Comparison
FMCAX has a 1.29% expense ratio, which is higher than LLSCX's 0.95% expense ratio.
Dividends
FMCAX vs. LLSCX - Dividend Comparison
FMCAX's dividend yield for the trailing twelve months is around 6.78%, more than LLSCX's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMCAX Fidelity Advisor Stock Selector Mid Cap Fund Class M | 6.78% | 8.17% | 0.00% | 0.36% | 9.72% | 13.00% | 2.00% | 3.87% | 21.28% | 4.27% | 0.51% | 1.53% |
LLSCX Longleaf Partners Small-Cap Fund | 1.21% | 1.17% | 0.11% | 0.94% | 1.20% | 0.82% | 5.85% | 14.89% | 18.13% | 8.43% | 18.01% | 5.91% |
Frequently Asked Questions
FMCAX and LLSCX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LLSCX has higher volatility (4.93%) compared to FMCAX (4.01%). In terms of maximum drawdown, FMCAX dropped -65.06% vs LLSCX's -63.97%.
FMCAX currently has the higher Sharpe Ratio (1.66 vs -0.18), 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.
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