FSCEX vs. BIVRX
FSCEX (Fidelity Advisor Small Cap Fund Class C) and BIVRX (Invenomic Fund) are both mutual funds - FSCEX is a Small Cap Blend Equities fund managed by Fidelity, while BIVRX is a Long-Short fund managed by Invenomic. Over the past 5 years, FSCEX returned 3.01%/yr vs 13.00%/yr for BIVRX. Their 0.05 correlation means their historical movements had little consistent relationship. FSCEX charges 2.04%/yr vs 2.48%/yr for BIVRX.
Performance
FSCEX vs. BIVRX - Performance Comparison
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Returns By Period
In the year-to-date period, FSCEX achieves a 19.16% return, which is significantly higher than BIVRX's 7.84% return.
FSCEX
- 1D
- 1.53%
- 1M
- -1.83%
- 6M
- 13.88%
- YTD
- 19.16%
- 1Y
- 31.96%
- 3Y*
- 6.45%
- 5Y*
- 3.01%
- 10Y*
- 7.82%
- ALL TIME*
- 8.44%
BIVRX
- 1D
- -5.65%
- 1M
- 15.64%
- 6M
- 11.37%
- YTD
- 7.84%
- 1Y
- 16.84%
- 3Y*
- 2.71%
- 5Y*
- 13.00%
- 10Y*
- —
- ALL TIME*
- 15.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BIVRX Invenomic Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FSCEX vs. BIVRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSCEX Fidelity Advisor Small Cap Fund Class C | 19.16% | 11.04% | -11.92% | 17.31% | -21.33% | 30.13% | 16.12% | 31.37% | -16.86% | 8.01% |
BIVRX Invenomic Fund | 7.84% | 4.39% | -9.03% | 16.47% | 49.61% | 44.06% | 11.12% | 11.36% | 3.41% | 8.73% |
Correlation
The correlation between FSCEX and BIVRX is -0.35, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.05 |
The correlation between FSCEX and BIVRX shifts across timeframes, from -0.35 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FSCEX vs. BIVRX — Risk / Return Rank
FSCEX
BIVRX
FSCEX vs. BIVRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class C (FSCEX) and Invenomic Fund (BIVRX). 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.
| FSCEX | BIVRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.11 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 0.58 | +2.46 |
| Martin ratioReturn relative to average drawdown | 10.68 | 1.57 | +9.11 |
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Drawdowns
FSCEX vs. BIVRX - Drawdown Comparison
The maximum FSCEX drawdown since its inception was -51.02%, which is greater than BIVRX's maximum drawdown of -27.37%. Use the drawdown chart below to compare losses from any high point for FSCEX and BIVRX.
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Drawdown Indicators
| FSCEX | BIVRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.02% | -27.37% | -23.65% |
Max Drawdown (1Y)Largest decline over 1 year | -9.37% | -26.97% | +17.60% |
Max Drawdown (3Y)Largest decline over 3 years | -41.37% | -27.37% | -14.00% |
Max Drawdown (5Y)Largest decline over 5 years | -41.37% | -27.37% | -14.00% |
Max Drawdown (10Y)Largest decline over 10 years | -41.37% | — | — |
Current DrawdownCurrent decline from peak | -4.41% | -5.65% | +1.24% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -6.20% | -6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 9.91% | -7.24% |
Volatility
FSCEX vs. BIVRX - Volatility Comparison
The current volatility for Fidelity Advisor Small Cap Fund Class C (FSCEX) is 4.40%, while Invenomic Fund (BIVRX) has a volatility of 17.69%. This indicates that FSCEX experiences smaller price fluctuations and is considered to be less risky than BIVRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSCEX | BIVRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 17.69% | -13.29% |
Volatility (6M)Calculated over the trailing 6-month period | 13.99% | 29.33% | -15.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 32.81% | -14.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.33% | 20.09% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.57% | 19.04% | +3.53% |
FSCEX vs. BIVRX - Expense Ratio Comparison
FSCEX has a 2.04% expense ratio, which is lower than BIVRX's 2.48% expense ratio.
Dividends
FSCEX vs. BIVRX - Dividend Comparison
FSCEX's dividend yield for the trailing twelve months is around 3.00%, more than BIVRX's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIVRX Invenomic Fund | 1.79% | 1.93% | 3.55% | 20.26% | 28.43% | 3.00% | 3.11% | 3.21% | 4.82% | 1.21% | 0.00% | 0.00% |
FSCEX Fidelity Advisor Small Cap Fund Class C | 3.00% | 3.58% | 0.00% | 2.23% | 8.66% | 16.35% | 3.97% | 5.72% | 20.54% | 18.60% | 2.60% | 10.50% |
Frequently Asked Questions
FSCEX and BIVRX have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIVRX has higher volatility (17.69%) compared to FSCEX (4.40%). In terms of maximum drawdown, FSCEX dropped -51.02% vs BIVRX's -27.37%.
FSCEX currently has the higher Sharpe Ratio (1.55 vs 0.48), 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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