FMPAX vs. FMCDX

Last updated Jun 3, 2026

FMPAX (Fidelity Advisor Mid Cap Value Fund Class A) and FMCDX (Fidelity Advisor Stock Selector Mid Cap Fund Class A) are both mutual funds - FMPAX is a Mid Cap Value Equities fund managed by Fidelity, while FMCDX is a Mid Cap Blend Equities fund managed by Fidelity. Over the past 10 years, FMPAX returned 10.82%/yr vs 11.64%/yr for FMCDX. Their correlation of 0.93 suggests significant overlap in exposure. FMPAX charges 0.86%/yr vs 1.05%/yr for FMCDX.

Performance

FMPAX vs. FMCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mid Cap Value Fund Class A (FMPAX) and Fidelity Advisor Stock Selector Mid Cap Fund Class A (FMCDX). 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 FMPAX having a 17.56% return and FMCDX slightly lower at 17.24%. Over the past 10 years, FMPAX has underperformed FMCDX with an annualized return of 10.82%, while FMCDX has yielded a comparatively higher 11.64% annualized return.

FMPAX

• 1D: -0.09%
• 1M: 2.17%
• YTD: 17.56%
• 6M: 20.12%
• 1Y: 36.99%
• 3Y*: 21.52%
• 5Y*: 11.76%
• 10Y*: 10.82%

FMCDX

• 1D: 0.20%
• 1M: 2.82%
• YTD: 17.24%
• 6M: 18.31%
• 1Y: 30.88%
• 3Y*: 16.09%
• 5Y*: 7.68%
• 10Y*: 11.64%

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

FMPAX vs. FMCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMPAX Fidelity Advisor Mid Cap Value Fund Class A	17.56%	12.75%	14.22%	22.18%	-10.89%	33.60%	0.68%	23.19%	-19.16%	16.73%
FMCDX Fidelity Advisor Stock Selector Mid Cap Fund Class A	17.24%	10.17%	8.89%	16.86%	-14.11%	22.92%	12.77%	29.26%	-7.82%	19.57%

Correlation

The correlation between FMPAX and FMCDX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 2006	0.93

The correlation between FMPAX and FMCDX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

FMPAX vs. FMCDX — Risk / Return Rank

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

FMPAX

FMPAX Risk / Return Rank: 63
FMPAX Sharpe Ratio Rank: 59
FMPAX Sortino Ratio Rank: 61
FMPAX Omega Ratio Rank: 52
FMPAX Calmar Ratio Rank: 76
FMPAX Martin Ratio Rank: 69

FMCDX

FMCDX Risk / Return Rank: 54
FMCDX Sharpe Ratio Rank: 43
FMCDX Sortino Ratio Rank: 42
FMCDX Omega Ratio Rank: 40
FMCDX Calmar Ratio Rank: 76
FMCDX Martin Ratio Rank: 67

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.

FMPAX vs. FMCDX - Risk-Adjusted Trends Comparison

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

	FMPAX	FMCDX	Difference
Sharpe ratio Return per unit of total volatility	2.27	1.92	+0.35
Sortino ratio Return per unit of downside risk	3.26	2.75	+0.52
Omega ratio Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio Return relative to maximum drawdown	3.48	3.47	0.00
Martin ratio Return relative to average drawdown	13.41	12.98	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMPAX vs. FMCDX - Sharpe Ratio Comparison

The current FMPAX Sharpe Ratio is 2.27, which is comparable to the FMCDX Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of FMPAX and FMCDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FMPAX	FMCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	1.92	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.39	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.56	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.50	-0.11

Drawdowns

FMPAX vs. FMCDX - Drawdown Comparison

The maximum FMPAX drawdown since its inception was -63.15%, roughly equal to the maximum FMCDX drawdown of -65.00%. Use the drawdown chart below to compare losses from any high point for FMPAX and FMCDX.

Drawdown Indicators

	FMPAX	FMCDX	Difference
Max Drawdown Largest peak-to-trough decline	-63.15%	-65.00%	+1.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-8.70%	-1.64%
Max Drawdown (3Y) Largest decline over 3 years	-23.79%	-25.19%	+1.40%
Max Drawdown (5Y) Largest decline over 5 years	-23.79%	-25.19%	+1.40%
Max Drawdown (10Y) Largest decline over 10 years	-45.47%	-43.40%	-2.07%
Current Drawdown Current decline from peak	-0.49%	0.00%	-0.49%
Average Drawdown Average peak-to-trough decline	-9.74%	-10.64%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.33%	+0.35%

Volatility

FMPAX vs. FMCDX - Volatility Comparison

Fidelity Advisor Mid Cap Value Fund Class A (FMPAX) and Fidelity Advisor Stock Selector Mid Cap Fund Class A (FMCDX) have volatilities of 4.72% and 4.57%, 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

	FMPAX	FMCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	4.57%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	12.00%	12.20%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	16.05%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.17%	20.01%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	21.00%	+0.12%

FMPAX vs. FMCDX - Expense Ratio Comparison

FMPAX has a 0.86% expense ratio, which is lower than FMCDX's 1.05% expense ratio.

Dividends

FMPAX vs. FMCDX - Dividend Comparison

FMPAX's dividend yield for the trailing twelve months is around 6.65%, less than FMCDX's 7.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMCDX Fidelity Advisor Stock Selector Mid Cap Fund Class A	7.32%	8.58%	0.00%	0.61%	10.14%	13.43%	2.25%	4.16%	21.85%	4.30%	1.03%	9.17%
FMPAX Fidelity Advisor Mid Cap Value Fund Class A	6.65%	8.24%	10.38%	0.96%	13.09%	1.08%	1.78%	1.61%	14.62%	8.77%	1.11%	4.99%

Frequently Asked Questions

Can I hold both FMPAX and FMCDX in my portfolio?

With a correlation of 0.93, FMPAX and FMCDX 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, FMPAX or FMCDX?

FMPAX has higher volatility (4.72%) compared to FMCDX (4.57%). In terms of maximum drawdown, FMPAX dropped -63.15% vs FMCDX's -65.00%.

Which has better risk-adjusted returns?

FMPAX currently has the higher Sharpe Ratio (2.27 vs 1.92), 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.