FMPAX vs. FSLSX
FMPAX (Fidelity Advisor Mid Cap Value Fund Class A) and FSLSX (Fidelity Value Strategies Fund) are both Mid Cap Value Equities funds from Fidelity. Over the past 10 years, FMPAX returned 11.55%/yr vs 12.23%/yr for FSLSX. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.86% expense ratio.
Performance
FMPAX vs. FSLSX - Performance Comparison
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Returns By Period
In the year-to-date period, FMPAX achieves a 25.85% return, which is significantly lower than FSLSX's 28.77% return. Over the past 10 years, FMPAX has underperformed FSLSX with an annualized return of 11.55%, while FSLSX has yielded a comparatively higher 12.23% annualized return.
FMPAX
- 1D
- -0.29%
- 1M
- 1.19%
- 6M
- 17.57%
- YTD
- 25.85%
- 1Y
- 40.99%
- 3Y*
- 19.83%
- 5Y*
- 13.70%
- 10Y*
- 11.55%
- ALL TIME*
- 9.11%
FSLSX
- 1D
- -0.21%
- 1M
- 1.85%
- 6M
- 17.27%
- YTD
- 28.77%
- 1Y
- 32.99%
- 3Y*
- 14.00%
- 5Y*
- 11.23%
- 10Y*
- 12.23%
- ALL TIME*
- 10.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMPAX vs. FSLSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMPAX Fidelity Advisor Mid Cap Value Fund Class A | 25.85% | 12.75% | 14.22% | 22.18% | -10.89% | 33.60% | 0.68% | 23.19% | -19.16% | 16.73% |
FSLSX Fidelity Value Strategies Fund | 28.77% | 0.24% | 9.25% | 20.54% | -7.37% | 33.32% | 8.24% | 34.54% | -16.90% | 17.49% |
Correlation
The correlation between FMPAX and FSLSX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2006 | 0.96 |
The correlation between FMPAX and FSLSX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FMPAX vs. FSLSX — Risk / Return Rank
FMPAX
FSLSX
FMPAX vs. FSLSX - 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 Value Strategies Fund (FSLSX). 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.
| FMPAX | FSLSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.31 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 3.17 | +0.59 |
| Martin ratioReturn relative to average drawdown | 14.93 | 10.70 | +4.22 |
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Drawdowns
FMPAX vs. FSLSX - Drawdown Comparison
The maximum FMPAX drawdown since its inception was -63.15%, smaller than the maximum FSLSX drawdown of -69.87%. Use the drawdown chart below to compare losses from any high point for FMPAX and FSLSX.
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Drawdown Indicators
| FMPAX | FSLSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.15% | -69.87% | +6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.34% | -9.79% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -23.79% | -26.81% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -23.79% | -26.81% | +3.02% |
Max Drawdown (10Y)Largest decline over 10 years | -45.47% | -47.98% | +2.51% |
Current DrawdownCurrent decline from peak | -1.24% | -1.12% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -9.66% | -8.25% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.91% | -0.30% |
Volatility
FMPAX vs. FSLSX - Volatility Comparison
Fidelity Advisor Mid Cap Value Fund Class A (FMPAX) and Fidelity Value Strategies Fund (FSLSX) have volatilities of 3.31% and 3.26%, 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
| FMPAX | FSLSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | 3.26% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.29% | 11.73% | +0.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.53% | 18.73% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.12% | 20.40% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.09% | 21.87% | -0.78% |
FMPAX vs. FSLSX - Expense Ratio Comparison
Both FMPAX and FSLSX have an expense ratio of 0.86%.
Dividends
FMPAX vs. FSLSX - Dividend Comparison
FMPAX's dividend yield for the trailing twelve months is around 6.21%, while FSLSX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMPAX Fidelity Advisor Mid Cap Value Fund Class A | 6.21% | 8.24% | 10.38% | 0.96% | 13.09% | 1.08% | 1.78% | 1.61% | 14.62% | 8.77% | 1.11% | 4.99% |
FSLSX Fidelity Value Strategies Fund | 0.00% | 0.00% | 10.41% | 2.49% | 2.13% | 7.29% | 0.84% | 4.84% | 14.59% | 6.57% | 19.71% | 1.26% |
Frequently Asked Questions
With a correlation of 0.97, FMPAX and FSLSX 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.
FMPAX has higher volatility (3.31%) compared to FSLSX (3.26%). In terms of maximum drawdown, FMPAX dropped -63.15% vs FSLSX's -69.87%.
FMPAX currently has the higher Sharpe Ratio (2.36 vs 1.66), 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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