FNICX vs. FZAPX

Last updated Jun 6, 2026

FNICX (Fidelity Advisor New Insights Fund Class C) and FZAPX (Fidelity Advisor Stock Selector All Cap Fund Class Z) are both Large Cap Growth Equities funds from Fidelity. Over the past 10 years, FNICX returned 15.52%/yr vs 15.37%/yr for FZAPX. Their correlation of 0.95 suggests significant overlap in exposure. FNICX charges 1.70%/yr vs 0.58%/yr for FZAPX.

Performance

FNICX vs. FZAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor New Insights Fund Class C (FNICX) and Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNICX achieves a 11.23% return, which is significantly lower than FZAPX's 15.75% return. Both investments have delivered pretty close results over the past 10 years, with FNICX having a 15.52% annualized return and FZAPX not far behind at 15.37%.

FNICX

• 1D: 0.63%
• 1M: 3.93%
• YTD: 11.23%
• 6M: 13.61%
• 1Y: 27.11%
• 3Y*: 26.80%
• 5Y*: 14.52%
• 10Y*: 15.52%

FZAPX

• 1D: 0.50%
• 1M: 2.74%
• YTD: 15.75%
• 6M: 16.02%
• 1Y: 35.90%
• 3Y*: 23.04%
• 5Y*: 13.02%
• 10Y*: 15.37%

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

FNICX vs. FZAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNICX Fidelity Advisor New Insights Fund Class C	11.23%	19.70%	33.94%	34.88%	-26.87%	23.48%	22.72%	28.17%	-5.40%	27.10%
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	15.75%	18.98%	19.88%	27.05%	-19.49%	23.25%	25.03%	32.34%	-8.52%	24.38%

Correlation

The correlation between FNICX and FZAPX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013	0.95

The correlation between FNICX and FZAPX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

FNICX vs. FZAPX — Risk / Return Rank

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

FNICX

FNICX Risk / Return Rank: 52
FNICX Sharpe Ratio Rank: 50
FNICX Sortino Ratio Rank: 47
FNICX Omega Ratio Rank: 47
FNICX Calmar Ratio Rank: 54
FNICX Martin Ratio Rank: 64

FZAPX

FZAPX Risk / Return Rank: 86
FZAPX Sharpe Ratio Rank: 89
FZAPX Sortino Ratio Rank: 82
FZAPX Omega Ratio Rank: 81
FZAPX Calmar Ratio Rank: 86
FZAPX Martin Ratio Rank: 93

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.

FNICX vs. FZAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor New Insights Fund Class C (FNICX) and Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX). 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.

	FNICX	FZAPX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.87	-0.86
Sortino ratio: Return per unit of downside risk	2.77	3.85	-1.09
Omega ratio: Gain probability vs. loss probability	1.36	1.52	-0.16
Calmar ratio: Return relative to maximum drawdown	2.71	4.06	-1.35
Martin ratio: Return relative to average drawdown	12.01	19.68	-7.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNICX vs. FZAPX - Sharpe Ratio Comparison

The current FNICX Sharpe Ratio is 2.01, which is comparable to the FZAPX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of FNICX and FZAPX, 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

	FNICX	FZAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	2.87	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.74	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.83	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.80	-0.20

Drawdowns

FNICX vs. FZAPX - Drawdown Comparison

The maximum FNICX drawdown since its inception was -50.18%, which is greater than FZAPX's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FNICX and FZAPX.

Drawdown Indicators

	FNICX	FZAPX	Difference
Max Drawdown Largest peak-to-trough decline	-50.18%	-34.37%	-15.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.53%	-9.20%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-21.10%	-20.84%	-0.26%
Max Drawdown (5Y) Largest decline over 5 years	-32.17%	-25.20%	-6.97%
Max Drawdown (10Y) Largest decline over 10 years	-32.17%	-34.37%	+2.20%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-7.60%	-4.56%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	1.89%	+0.49%

Volatility

FNICX vs. FZAPX - Volatility Comparison

Fidelity Advisor New Insights Fund Class C (FNICX) has a higher volatility of 3.73% compared to Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX) at 3.41%. This indicates that FNICX's price experiences larger fluctuations and is considered to be riskier than FZAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNICX	FZAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.41%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.85%	10.03%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.22%	13.02%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	17.76%	+1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	18.57%	+0.72%

FNICX vs. FZAPX - Expense Ratio Comparison

FNICX has a 1.70% expense ratio, which is higher than FZAPX's 0.58% expense ratio.

Dividends

FNICX vs. FZAPX - Dividend Comparison

FNICX's dividend yield for the trailing twelve months is around 12.28%, more than FZAPX's 4.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNICX Fidelity Advisor New Insights Fund Class C	12.28%	13.07%	8.12%	8.07%	21.87%	15.96%	9.88%	7.53%	16.07%	8.64%	4.45%	4.78%
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	4.22%	4.88%	4.91%	2.12%	0.39%	1.47%	5.33%	6.18%	4.59%	3.07%	1.13%	5.24%

Frequently Asked Questions

Can I hold both FNICX and FZAPX in my portfolio?

With a correlation of 0.91, FNICX and FZAPX 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, FNICX or FZAPX?

FNICX has higher volatility (3.73%) compared to FZAPX (3.41%). In terms of maximum drawdown, FNICX dropped -50.18% vs FZAPX's -34.37%.

Which has better risk-adjusted returns?

FZAPX currently has the higher Sharpe Ratio (2.87 vs 2.01), 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.