FSCEX vs. FDSCX

Last updated Jun 4, 2026

FSCEX (Fidelity Advisor Small Cap Fund Class C) and FDSCX (Fidelity Stock Selector Small Cap Fund) are both Small Cap Blend Equities funds from Fidelity. Over the past 10 years, FSCEX returned 7.87%/yr vs 12.84%/yr for FDSCX. Their correlation of 0.93 suggests significant overlap in exposure. FSCEX charges 2.04%/yr vs 0.90%/yr for FDSCX.

Performance

FSCEX vs. FDSCX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSCEX achieves a 17.99% return, which is significantly higher than FDSCX's 15.95% return. Over the past 10 years, FSCEX has underperformed FDSCX with an annualized return of 7.87%, while FDSCX has yielded a comparatively higher 12.84% annualized return.

FSCEX

• 1D: 1.01%
• 1M: 2.91%
• YTD: 17.99%
• 6M: 16.14%
• 1Y: 36.53%
• 3Y*: 9.30%
• 5Y*: 3.24%
• 10Y*: 7.87%

FDSCX

• 1D: 0.84%
• 1M: 1.01%
• YTD: 15.95%
• 6M: 14.53%
• 1Y: 38.89%
• 3Y*: 19.79%
• 5Y*: 9.93%
• 10Y*: 12.84%

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

FSCEX vs. FDSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCEX Fidelity Advisor Small Cap Fund Class C	17.99%	11.04%	-11.92%	17.31%	-21.33%	30.13%	16.12%	31.37%	-16.86%	12.93%
FDSCX Fidelity Stock Selector Small Cap Fund	15.95%	14.33%	14.51%	19.46%	-18.28%	24.76%	21.76%	30.42%	-8.90%	11.25%

Correlation

The correlation between FSCEX and FDSCX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 10, 1998	0.93

The correlation between FSCEX and FDSCX has been stable across timeframes, ranging from 0.93 to 0.99 - a consistent structural relationship.

Return for Risk

FSCEX vs. FDSCX — Risk / Return Rank

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

FSCEX

FSCEX Risk / Return Rank: 66
FSCEX Sharpe Ratio Rank: 57
FSCEX Sortino Ratio Rank: 56
FSCEX Omega Ratio Rank: 47
FSCEX Calmar Ratio Rank: 86
FSCEX Martin Ratio Rank: 83

FDSCX

FDSCX Risk / Return Rank: 69
FDSCX Sharpe Ratio Rank: 62
FDSCX Sortino Ratio Rank: 60
FDSCX Omega Ratio Rank: 51
FDSCX Calmar Ratio Rank: 86
FDSCX Martin Ratio Rank: 84

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.

FSCEX vs. FDSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class C (FSCEX) and Fidelity Stock Selector Small Cap Fund (FDSCX). 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.

	FSCEX	FDSCX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.32	-0.10
Sortino ratio: Return per unit of downside risk	3.14	3.27	-0.13
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	4.17	4.12	+0.05
Martin ratio: Return relative to average drawdown	15.63	16.04	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSCEX vs. FDSCX - Sharpe Ratio Comparison

The current FSCEX Sharpe Ratio is 2.21, which is comparable to the FDSCX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FSCEX and FDSCX, 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

	FSCEX	FDSCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.32	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.46	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.59	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.42	-0.02

Drawdowns

FSCEX vs. FDSCX - Drawdown Comparison

The maximum FSCEX drawdown since its inception was -51.02%, smaller than the maximum FDSCX drawdown of -65.47%. Use the drawdown chart below to compare losses from any high point for FSCEX and FDSCX.

Drawdown Indicators

	FSCEX	FDSCX	Difference
Max Drawdown Largest peak-to-trough decline	-51.02%	-65.47%	+14.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-10.04%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-41.37%	-27.42%	-13.95%
Max Drawdown (5Y) Largest decline over 5 years	-41.37%	-30.56%	-10.81%
Max Drawdown (10Y) Largest decline over 10 years	-41.37%	-38.43%	-2.94%
Current Drawdown Current decline from peak	-4.97%	-1.74%	-3.23%
Average Drawdown Average peak-to-trough decline	-12.70%	-11.23%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.57%	-0.07%

Volatility

FSCEX vs. FDSCX - Volatility Comparison

Fidelity Advisor Small Cap Fund Class C (FSCEX) has a higher volatility of 5.57% compared to Fidelity Stock Selector Small Cap Fund (FDSCX) at 5.23%. This indicates that FSCEX's price experiences larger fluctuations and is considered to be riskier than FDSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCEX	FDSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.57%	5.23%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	13.36%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	17.85%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.27%	21.63%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	21.87%	+0.69%

FSCEX vs. FDSCX - Expense Ratio Comparison

FSCEX has a 2.04% expense ratio, which is higher than FDSCX's 0.90% expense ratio.

Dividends

FSCEX vs. FDSCX - Dividend Comparison

FSCEX's dividend yield for the trailing twelve months is around 3.03%, more than FDSCX's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDSCX Fidelity Stock Selector Small Cap Fund	0.62%	0.72%	2.71%	0.23%	0.12%	10.85%	1.40%	2.13%	22.39%	10.02%	1.63%	7.06%
FSCEX Fidelity Advisor Small Cap Fund Class C	3.03%	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

Can I hold both FSCEX and FDSCX in my portfolio?

With a correlation of 0.99, FSCEX and FDSCX 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, FSCEX or FDSCX?

FSCEX has higher volatility (5.57%) compared to FDSCX (5.23%). In terms of maximum drawdown, FSCEX dropped -51.02% vs FDSCX's -65.47%.

Which has better risk-adjusted returns?

FDSCX currently has the higher Sharpe Ratio (2.32 vs 2.21), 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.