FSCDX vs. FTMSX

Last updated Jul 14, 2026

FSCDX (Fidelity Advisor Small Cap Fund Class A) and FTMSX (Fuller & Thaler Behavioral Micro-Cap Equity Fund) are both Small Cap Blend Equities funds. Over the past 5 years, FSCDX returned 6.30%/yr vs 0.86%/yr for FTMSX. Their correlation of 0.87 suggests significant overlap in exposure. FSCDX charges 1.22%/yr vs 2.30%/yr for FTMSX.

Performance

FSCDX vs. FTMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Fund Class A (FSCDX) and Fuller & Thaler Behavioral Micro-Cap Equity Fund (FTMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCDX achieves a 21.44% return, which is significantly lower than FTMSX's 31.22% return.

FSCDX

• 1D: -0.11%
• 1M: -0.35%
• 6M: 15.68%
• YTD: 21.44%
• 1Y: 31.15%
• 3Y*: 12.59%
• 5Y*: 6.30%
• 10Y*: 9.84%

FTMSX

• 1D: -0.56%
• 1M: 5.11%
• 6M: 23.17%
• YTD: 31.22%
• 1Y: 40.39%
• 3Y*: 11.99%
• 5Y*: 0.86%
• 10Y*: —

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

FSCDX vs. FTMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FSCDX Fidelity Advisor Small Cap Fund Class A	21.44%	11.85%	-2.52%	18.29%	-20.70%	31.22%	17.13%	32.10%
FTMSX Fuller & Thaler Behavioral Micro-Cap Equity Fund	31.22%	0.30%	3.88%	13.11%	-31.07%	37.45%	15.58%	17.82%

Correlation

The correlation between FSCDX and FTMSX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2019	0.87

The correlation between FSCDX and FTMSX shifts across timeframes, from 0.76 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FSCDX vs. FTMSX — Risk / Return Rank

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

FSCDX

FSCDX Risk / Return Rank: 66
FSCDX Sharpe Ratio Rank: 54
FSCDX Sortino Ratio Rank: 59
FSCDX Omega Ratio Rank: 47
FSCDX Calmar Ratio Rank: 85
FSCDX Martin Ratio Rank: 83

FTMSX

FTMSX Risk / Return Rank: 43
FTMSX Sharpe Ratio Rank: 42
FTMSX Sortino Ratio Rank: 40
FTMSX Omega Ratio Rank: 37
FTMSX Calmar Ratio Rank: 48
FTMSX Martin Ratio Rank: 48

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.

FSCDX vs. FTMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class A (FSCDX) and Fuller & Thaler Behavioral Micro-Cap Equity Fund (FTMSX). 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.

	FSCDX	FTMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.44	+0.20
Sortino ratio: Return per unit of downside risk	2.43	2.04	+0.40
Omega ratio: Gain probability vs. loss probability	1.28	1.24	+0.04
Calmar ratio: Return relative to maximum drawdown	3.23	2.13	+1.10
Martin ratio: Return relative to average drawdown	11.87	7.88	+3.99

FSCDX vs. FTMSX - Sharpe Ratio Comparison

The current FSCDX Sharpe Ratio is 1.65, which is comparable to the FTMSX Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of FSCDX and FTMSX, 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

FSCDX vs. FTMSX - Drawdown Comparison

The maximum FSCDX drawdown since its inception was -50.10%, smaller than the maximum FTMSX drawdown of -53.12%. Use the drawdown chart below to compare losses from any high point for FSCDX and FTMSX.

Drawdown Indicators

	FSCDX	FTMSX	Difference
Max Drawdown Largest peak-to-trough decline	-50.10%	-53.12%	+3.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-17.52%	+8.19%
Max Drawdown (3Y) Largest decline over 3 years	-35.42%	-35.01%	-0.41%
Max Drawdown (5Y) Largest decline over 5 years	-35.42%	-48.67%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	-40.44%	—	—
Current Drawdown Current decline from peak	-2.97%	-2.55%	-0.42%
Average Drawdown Average peak-to-trough decline	-11.59%	-22.08%	+10.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	4.74%	-2.20%

Volatility

FSCDX vs. FTMSX - Volatility Comparison

The current volatility for Fidelity Advisor Small Cap Fund Class A (FSCDX) is 5.83%, while Fuller & Thaler Behavioral Micro-Cap Equity Fund (FTMSX) has a volatility of 7.53%. This indicates that FSCDX experiences smaller price fluctuations and is considered to be less risky than FTMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCDX	FTMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	7.53%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	13.95%	17.98%	-4.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.31%	25.86%	-7.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.25%	28.14%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.98%	30.47%	-8.49%

FSCDX vs. FTMSX - Expense Ratio Comparison

FSCDX has a 1.22% expense ratio, which is lower than FTMSX's 2.30% expense ratio.

Dividends

FSCDX vs. FTMSX - Dividend Comparison

FSCDX's dividend yield for the trailing twelve months is around 1.58%, while FTMSX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSCDX Fidelity Advisor Small Cap Fund Class A	1.58%	1.92%	0.00%	1.36%	5.36%	10.98%	2.70%	3.97%	14.60%	14.03%	2.35%	8.39%
FTMSX Fuller & Thaler Behavioral Micro-Cap Equity Fund	0.00%	0.00%	0.12%	0.00%	0.00%	8.27%	0.37%	4.90%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSCDX and FTMSX in my portfolio?

FSCDX and FTMSX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCDX or FTMSX?

FTMSX has higher volatility (7.53%) compared to FSCDX (5.83%). In terms of maximum drawdown, FSCDX dropped -50.10% vs FTMSX's -53.12%.

Which has better risk-adjusted returns?

FSCDX currently has the higher Sharpe Ratio (1.65 vs 1.44), 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.