FMCDX vs. FCDAX

Last updated Jun 25, 2026

FMCDX (Fidelity Advisor Stock Selector Mid Cap Fund Class A) and FCDAX (Fidelity Advisor Stock Selector Small Cap Fund Class A) are both mutual funds - FMCDX is a Mid Cap Blend Equities fund managed by Fidelity, while FCDAX is a Small Cap Blend Equities fund managed by Fidelity. Over the past 10 years, FMCDX returned 12.39%/yr vs 13.34%/yr for FCDAX. Their correlation of 0.94 suggests significant overlap in exposure. FMCDX charges 1.05%/yr vs 1.19%/yr for FCDAX.

Performance

FMCDX vs. FCDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector Mid Cap Fund Class A (FMCDX) and Fidelity Advisor Stock Selector Small Cap Fund Class A (FCDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FMCDX having a 19.99% return and FCDAX slightly lower at 19.40%. Over the past 10 years, FMCDX has underperformed FCDAX with an annualized return of 12.39%, while FCDAX has yielded a comparatively higher 13.34% annualized return.

FMCDX

• 1D: -1.12%
• 1M: 4.33%
• YTD: 19.99%
• 6M: 17.59%
• 1Y: 29.68%
• 3Y*: 17.05%
• 5Y*: 8.35%
• 10Y*: 12.39%

FCDAX

• 1D: -1.30%
• 1M: 3.71%
• YTD: 19.40%
• 6M: 16.43%
• 1Y: 38.13%
• 3Y*: 20.57%
• 5Y*: 9.91%
• 10Y*: 13.34%

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

FMCDX vs. FCDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMCDX Fidelity Advisor Stock Selector Mid Cap Fund Class A	19.99%	10.17%	8.89%	16.86%	-14.11%	22.92%	12.77%	29.26%	-7.82%	19.57%
FCDAX Fidelity Advisor Stock Selector Small Cap Fund Class A	19.40%	14.04%	14.16%	19.09%	-18.47%	24.38%	21.39%	30.05%	-9.16%	11.34%

Correlation

The correlation between FMCDX and FCDAX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 3, 2006	0.94

The correlation between FMCDX and FCDAX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FMCDX vs. FCDAX — Risk / Return Rank

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

FMCDX

FMCDX Risk / Return Rank: 62
FMCDX Sharpe Ratio Rank: 52
FMCDX Sortino Ratio Rank: 52
FMCDX Omega Ratio Rank: 46
FMCDX Calmar Ratio Rank: 83
FMCDX Martin Ratio Rank: 78

FCDAX

FCDAX Risk / Return Rank: 74
FCDAX Sharpe Ratio Rank: 69
FCDAX Sortino Ratio Rank: 68
FCDAX Omega Ratio Rank: 56
FCDAX Calmar Ratio Rank: 88
FCDAX Martin Ratio Rank: 88

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.

FMCDX vs. FCDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector Mid Cap Fund Class A (FMCDX) and Fidelity Advisor Stock Selector Small Cap Fund Class A (FCDAX). 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.

	FMCDX	FCDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.18	-0.30
Sortino ratio: Return per unit of downside risk	2.68	3.07	-0.39
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.04
Calmar ratio: Return relative to maximum drawdown	3.56	3.99	-0.43
Martin ratio: Return relative to average drawdown	13.24	15.36	-2.12

FMCDX vs. FCDAX - Sharpe Ratio Comparison

The current FMCDX Sharpe Ratio is 1.88, which is comparable to the FCDAX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of FMCDX and FCDAX, 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

FMCDX vs. FCDAX - Drawdown Comparison

The maximum FMCDX drawdown since its inception was -65.00%, roughly equal to the maximum FCDAX drawdown of -65.62%. Use the drawdown chart below to compare losses from any high point for FMCDX and FCDAX.

Drawdown Indicators

	FMCDX	FCDAX	Difference
Max Drawdown Largest peak-to-trough decline	-65.00%	-65.62%	+0.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-10.05%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-25.19%	-27.50%	+2.31%
Max Drawdown (5Y) Largest decline over 5 years	-25.19%	-30.67%	+5.48%
Max Drawdown (10Y) Largest decline over 10 years	-43.40%	-38.46%	-4.94%
Current Drawdown Current decline from peak	-1.12%	-1.30%	+0.18%
Average Drawdown Average peak-to-trough decline	-10.62%	-12.11%	+1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.61%	-0.27%

Volatility

FMCDX vs. FCDAX - Volatility Comparison

The current volatility for Fidelity Advisor Stock Selector Mid Cap Fund Class A (FMCDX) is 5.26%, while Fidelity Advisor Stock Selector Small Cap Fund Class A (FCDAX) has a volatility of 6.35%. This indicates that FMCDX experiences smaller price fluctuations and is considered to be less risky than FCDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMCDX	FCDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	6.35%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	14.06%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.55%	18.48%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.07%	21.67%	-1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	21.88%	-0.89%

FMCDX vs. FCDAX - Expense Ratio Comparison

FMCDX has a 1.05% expense ratio, which is lower than FCDAX's 1.19% expense ratio.

Dividends

FMCDX vs. FCDAX - Dividend Comparison

FMCDX's dividend yield for the trailing twelve months is around 7.15%, more than FCDAX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCDAX Fidelity Advisor Stock Selector Small Cap Fund Class A	0.37%	0.44%	2.61%	0.02%	0.08%	10.93%	1.44%	1.96%	22.71%	10.34%	1.43%	6.93%
FMCDX Fidelity Advisor Stock Selector Mid Cap Fund Class A	7.15%	8.58%	0.00%	0.61%	10.14%	13.43%	2.25%	4.16%	21.85%	4.30%	1.03%	9.17%

Frequently Asked Questions

Can I hold both FMCDX and FCDAX in my portfolio?

With a correlation of 0.94, FMCDX and FCDAX 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, FMCDX or FCDAX?

FCDAX has higher volatility (6.35%) compared to FMCDX (5.26%). In terms of maximum drawdown, FMCDX dropped -65.00% vs FCDAX's -65.62%.

Which has better risk-adjusted returns?

FCDAX currently has the higher Sharpe Ratio (2.18 vs 1.88), 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.