FSCZX vs. ACIIX

Last updated Jun 23, 2026

FSCZX (Fidelity Advisor Stock Selector Large Cap Value Fund Class Z) and ACIIX (American Century Equity Income Fund Class I) are both Large Cap Value Equities funds. Over the past 5 years, FSCZX returned 12.03%/yr vs 7.82%/yr for ACIIX. Their correlation of 0.91 suggests significant overlap in exposure. FSCZX charges 0.65%/yr vs 0.72%/yr for ACIIX.

Performance

FSCZX vs. ACIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector Large Cap Value Fund Class Z (FSCZX) and American Century Equity Income Fund Class I (ACIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCZX achieves a 9.45% return, which is significantly higher than ACIIX's 7.40% return.

FSCZX

• 1D: 0.29%
• 1M: 1.84%
• YTD: 9.45%
• 6M: 8.89%
• 1Y: 23.60%
• 3Y*: 17.80%
• 5Y*: 12.03%
• 10Y*: —

ACIIX

• 1D: -0.11%
• 1M: -0.07%
• YTD: 7.40%
• 6M: 6.90%
• 1Y: 16.79%
• 3Y*: 10.55%
• 5Y*: 7.82%
• 10Y*: 8.93%

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

FSCZX vs. ACIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCZX Fidelity Advisor Stock Selector Large Cap Value Fund Class Z	9.45%	16.08%	17.38%	14.56%	-5.40%	25.84%	4.25%	24.84%	-9.17%	11.91%
ACIIX American Century Equity Income Fund Class I	7.40%	12.05%	10.58%	4.25%	-2.96%	17.16%	1.19%	24.50%	-3.53%	13.18%

Correlation

The correlation between FSCZX and ACIIX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.91

The correlation between FSCZX and ACIIX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

FSCZX vs. ACIIX — Risk / Return Rank

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

FSCZX

FSCZX Risk / Return Rank: 72
FSCZX Sharpe Ratio Rank: 68
FSCZX Sortino Ratio Rank: 70
FSCZX Omega Ratio Rank: 62
FSCZX Calmar Ratio Rank: 79
FSCZX Martin Ratio Rank: 79

ACIIX

ACIIX Risk / Return Rank: 52
ACIIX Sharpe Ratio Rank: 54
ACIIX Sortino Ratio Rank: 62
ACIIX Omega Ratio Rank: 49
ACIIX Calmar Ratio Rank: 53
ACIIX Martin Ratio Rank: 43

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.

FSCZX vs. ACIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector Large Cap Value Fund Class Z (FSCZX) and American Century Equity Income Fund Class I (ACIIX). 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.

	FSCZX	ACIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.00	+0.21
Sortino ratio: Return per unit of downside risk	3.18	3.01	+0.17
Omega ratio: Gain probability vs. loss probability	1.40	1.35	+0.05
Calmar ratio: Return relative to maximum drawdown	3.39	2.67	+0.73
Martin ratio: Return relative to average drawdown	13.70	8.69	+5.01

FSCZX vs. ACIIX - Sharpe Ratio Comparison

The current FSCZX Sharpe Ratio is 2.21, which is comparable to the ACIIX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FSCZX and ACIIX, 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

FSCZX vs. ACIIX - Drawdown Comparison

The maximum FSCZX drawdown since its inception was -39.70%, roughly equal to the maximum ACIIX drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for FSCZX and ACIIX.

Drawdown Indicators

	FSCZX	ACIIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.70%	-39.16%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-6.38%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-15.68%	-10.15%	-5.53%
Max Drawdown (5Y) Largest decline over 5 years	-19.28%	-13.49%	-5.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.76%	—
Current Drawdown Current decline from peak	-0.83%	-1.44%	+0.61%
Average Drawdown Average peak-to-trough decline	-4.33%	-5.24%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.95%	-0.21%

Volatility

FSCZX vs. ACIIX - Volatility Comparison

Fidelity Advisor Stock Selector Large Cap Value Fund Class Z (FSCZX) has a higher volatility of 3.29% compared to American Century Equity Income Fund Class I (ACIIX) at 2.57%. This indicates that FSCZX's price experiences larger fluctuations and is considered to be riskier than ACIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCZX	ACIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	2.57%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	6.22%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	8.50%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	10.77%	+4.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	13.39%	+4.69%

FSCZX vs. ACIIX - Expense Ratio Comparison

FSCZX has a 0.65% expense ratio, which is lower than ACIIX's 0.72% expense ratio.

Dividends

FSCZX vs. ACIIX - Dividend Comparison

FSCZX's dividend yield for the trailing twelve months is around 8.23%, less than ACIIX's 10.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACIIX American Century Equity Income Fund Class I	10.86%	10.55%	11.71%	8.21%	8.96%	7.02%	2.18%	7.57%	9.05%	12.14%	8.08%	10.72%
FSCZX Fidelity Advisor Stock Selector Large Cap Value Fund Class Z	8.23%	7.17%	10.56%	2.62%	8.42%	4.49%	2.32%	1.83%	7.75%	1.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSCZX and ACIIX in my portfolio?

FSCZX and ACIIX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCZX or ACIIX?

FSCZX has higher volatility (3.29%) compared to ACIIX (2.57%). In terms of maximum drawdown, FSCZX dropped -39.70% vs ACIIX's -39.16%.

Which has better risk-adjusted returns?

FSCZX currently has the higher Sharpe Ratio (2.21 vs 2.00), 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.