FSCEX vs. WWSIX

Last updated Jun 24, 2026

FSCEX (Fidelity Advisor Small Cap Fund Class C) and WWSIX (Keeley Small Cap Fund Class Institutional) are both Small Cap Blend Equities funds. Over the past 10 years, FSCEX returned 8.80%/yr vs 15.57%/yr for WWSIX. Their correlation of 0.93 suggests significant overlap in exposure. FSCEX charges 2.04%/yr vs 1.00%/yr for WWSIX.

Performance

FSCEX vs. WWSIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSCEX achieves a 23.42% return, which is significantly lower than WWSIX's 32.94% return. Over the past 10 years, FSCEX has underperformed WWSIX with an annualized return of 8.80%, while WWSIX has yielded a comparatively higher 15.57% annualized return.

FSCEX

• 1D: 0.91%
• 1M: 5.72%
• YTD: 23.42%
• 6M: 20.50%
• 1Y: 39.07%
• 3Y*: 10.71%
• 5Y*: 4.06%
• 10Y*: 8.80%

WWSIX

• 1D: 0.27%
• 1M: 6.42%
• YTD: 32.94%
• 6M: 30.43%
• 1Y: 66.90%
• 3Y*: 26.23%
• 5Y*: 13.25%
• 10Y*: 15.57%

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

FSCEX vs. WWSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCEX Fidelity Advisor Small Cap Fund Class C	23.42%	11.04%	-11.92%	17.31%	-21.33%	30.13%	16.12%	31.37%	-16.86%	12.93%
WWSIX Keeley Small Cap Fund Class Institutional	32.94%	17.55%	15.79%	12.87%	-12.30%	30.04%	11.27%	28.74%	-13.49%	16.07%

Correlation

The correlation between FSCEX and WWSIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 11, 2008	0.93

The correlation between FSCEX and WWSIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FSCEX vs. WWSIX — Risk / Return Rank

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

FSCEX

FSCEX Risk / Return Rank: 75
FSCEX Sharpe Ratio Rank: 69
FSCEX Sortino Ratio Rank: 69
FSCEX Omega Ratio Rank: 56
FSCEX Calmar Ratio Rank: 90
FSCEX Martin Ratio Rank: 89

WWSIX

WWSIX Risk / Return Rank: 94
WWSIX Sharpe Ratio Rank: 97
WWSIX Sortino Ratio Rank: 92
WWSIX Omega Ratio Rank: 86
WWSIX Calmar Ratio Rank: 97
WWSIX Martin Ratio Rank: 97

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. WWSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class C (FSCEX) and Keeley Small Cap Fund Class Institutional (WWSIX). 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	WWSIX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	3.29	-1.05
Sortino ratio: Return per unit of downside risk	3.16	4.27	-1.12
Omega ratio: Gain probability vs. loss probability	1.38	1.56	-0.18
Calmar ratio: Return relative to maximum drawdown	4.36	6.83	-2.47
Martin ratio: Return relative to average drawdown	16.24	25.00	-8.76

FSCEX vs. WWSIX - Sharpe Ratio Comparison

The current FSCEX Sharpe Ratio is 2.24, which is lower than the WWSIX Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of FSCEX and WWSIX, 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

FSCEX vs. WWSIX - Drawdown Comparison

The maximum FSCEX drawdown since its inception was -51.02%, smaller than the maximum WWSIX drawdown of -59.71%. Use the drawdown chart below to compare losses from any high point for FSCEX and WWSIX.

Drawdown Indicators

	FSCEX	WWSIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.02%	-59.71%	+8.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-10.17%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-41.37%	-26.17%	-15.20%
Max Drawdown (5Y) Largest decline over 5 years	-41.37%	-26.17%	-15.20%
Max Drawdown (10Y) Largest decline over 10 years	-41.37%	-45.11%	+3.74%
Current Drawdown Current decline from peak	-0.59%	0.00%	-0.59%
Average Drawdown Average peak-to-trough decline	-12.68%	-8.94%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.77%	-0.26%

Volatility

FSCEX vs. WWSIX - Volatility Comparison

Fidelity Advisor Small Cap Fund Class C (FSCEX) and Keeley Small Cap Fund Class Institutional (WWSIX) have volatilities of 6.20% and 6.33%, 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.

Volatility by Period

	FSCEX	WWSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	6.33%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	13.75%	14.50%	-0.75%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	21.13%	-2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.35%	21.71%	+1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	23.76%	-1.15%

FSCEX vs. WWSIX - Expense Ratio Comparison

FSCEX has a 2.04% expense ratio, which is higher than WWSIX's 1.00% expense ratio.

Dividends

FSCEX vs. WWSIX - Dividend Comparison

FSCEX's dividend yield for the trailing twelve months is around 2.90%, less than WWSIX's 5.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSCEX Fidelity Advisor Small Cap Fund Class C	2.90%	3.58%	0.00%	2.23%	8.66%	16.35%	3.97%	5.72%	20.54%	18.60%	2.60%	10.50%
WWSIX Keeley Small Cap Fund Class Institutional	5.81%	7.72%	28.12%	3.00%	1.85%	5.58%	0.20%	4.70%	14.34%	8.83%	9.05%	18.47%

Frequently Asked Questions

Can I hold both FSCEX and WWSIX in my portfolio?

With a correlation of 0.92, FSCEX and WWSIX 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 WWSIX?

WWSIX has higher volatility (6.33%) compared to FSCEX (6.20%). In terms of maximum drawdown, FSCEX dropped -51.02% vs WWSIX's -59.71%.

Which has better risk-adjusted returns?

WWSIX currently has the higher Sharpe Ratio (3.29 vs 2.24), 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.