FMCSX vs. FZAMX
FMCSX (Fidelity Mid-Cap Stock Fund) and FZAMX (Fidelity Advisor Mid Cap II Fund Class Z) are both Mid Cap Blend Equities funds from Fidelity. Over the past 10 years, FMCSX returned 13.10%/yr vs 12.86%/yr for FZAMX. With a 0.96 correlation, they move nearly in lockstep. FMCSX charges 0.85%/yr vs 0.61%/yr for FZAMX.
Performance
FMCSX vs. FZAMX - Performance Comparison
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Returns By Period
In the year-to-date period, FMCSX achieves a 19.85% return, which is significantly lower than FZAMX's 25.16% return. Both investments have delivered pretty close results over the past 10 years, with FMCSX having a 13.10% annualized return and FZAMX not far behind at 12.86%.
FMCSX
- 1D
- 0.72%
- 1M
- 4.53%
- YTD
- 19.85%
- 6M
- 17.25%
- 1Y
- 34.40%
- 3Y*
- 18.42%
- 5Y*
- 11.91%
- 10Y*
- 13.10%
FZAMX
- 1D
- 1.39%
- 1M
- 6.05%
- YTD
- 25.16%
- 6M
- 22.19%
- 1Y
- 42.92%
- 3Y*
- 21.22%
- 5Y*
- 12.67%
- 10Y*
- 12.86%
FMCSX vs. FZAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMCSX Fidelity Mid-Cap Stock Fund | 19.85% | 11.80% | 14.55% | 11.02% | -6.40% | 28.64% | 11.43% | 25.39% | -6.67% | 18.03% |
FZAMX Fidelity Advisor Mid Cap II Fund Class Z | 25.16% | 12.00% | 17.39% | 15.15% | -14.70% | 25.40% | 18.84% | 23.85% | -14.85% | 20.78% |
Correlation
The correlation between FMCSX and FZAMX 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 20, 2013 | 0.96 |
The correlation between FMCSX and FZAMX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FMCSX vs. FZAMX — Risk / Return Rank
FMCSX
FZAMX
FMCSX vs. FZAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid-Cap Stock Fund (FMCSX) and Fidelity Advisor Mid Cap II Fund Class Z (FZAMX). 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.
| FMCSX | FZAMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.42 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | 4.41 | -0.36 |
| Martin ratioReturn relative to average drawdown | 15.54 | 17.63 | -2.09 |
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Drawdowns
FMCSX vs. FZAMX - Drawdown Comparison
The maximum FMCSX drawdown since its inception was -62.19%, which is greater than FZAMX's maximum drawdown of -42.32%. Use the drawdown chart below to compare losses from any high point for FMCSX and FZAMX.
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Drawdown Indicators
| FMCSX | FZAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.19% | -42.32% | -19.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.55% | -9.77% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -22.33% | -25.24% | +2.91% |
Max Drawdown (5Y)Largest decline over 5 years | -22.33% | -25.24% | +2.91% |
Max Drawdown (10Y)Largest decline over 10 years | -40.55% | -42.32% | +1.77% |
Current DrawdownCurrent decline from peak | -0.69% | -0.16% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -9.34% | -6.06% | -3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.44% | -0.22% |
Volatility
FMCSX vs. FZAMX - Volatility Comparison
Fidelity Mid-Cap Stock Fund (FMCSX) and Fidelity Advisor Mid Cap II Fund Class Z (FZAMX) have volatilities of 5.68% and 5.81%, 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.
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Volatility by Period
| FMCSX | FZAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 5.81% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 12.88% | 14.22% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.19% | 17.67% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.80% | 20.30% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.63% | 20.98% | -2.35% |
FMCSX vs. FZAMX - Expense Ratio Comparison
FMCSX has a 0.85% expense ratio, which is higher than FZAMX's 0.61% expense ratio.
Dividends
FMCSX vs. FZAMX - Dividend Comparison
FMCSX's dividend yield for the trailing twelve months is around 5.17%, less than FZAMX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMCSX Fidelity Mid-Cap Stock Fund | 5.17% | 1.83% | 8.94% | 2.60% | 5.44% | 12.80% | 6.72% | 6.63% | 18.48% | 6.66% | 8.25% | 14.18% |
FZAMX Fidelity Advisor Mid Cap II Fund Class Z | 5.63% | 10.09% | 6.93% | 2.83% | 5.86% | 18.58% | 1.41% | 3.50% | 10.72% | 7.81% | 5.00% | 4.90% |
Frequently Asked Questions
With a correlation of 0.97, FMCSX and FZAMX 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.
FZAMX has higher volatility (5.81%) compared to FMCSX (5.68%). In terms of maximum drawdown, FMCSX dropped -62.19% vs FZAMX's -42.32%.
FZAMX currently has the higher Sharpe Ratio (2.44 vs 2.14), 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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