FSDIX vs. FEQIX

Last updated Jun 23, 2026

FSDIX (Fidelity Strategic Dividend & Income Fund) and FEQIX (Fidelity Equity-Income Fund) are both mutual funds - FSDIX is a Diversified Portfolio fund managed by Fidelity, while FEQIX is a Large Cap Value Equities fund actively managed by Fidelity. Over the past 10 years, FSDIX returned 9.20%/yr vs 11.99%/yr for FEQIX. Their correlation of 0.94 suggests significant overlap in exposure. FSDIX charges 0.68%/yr vs 0.57%/yr for FEQIX.

Performance

FSDIX vs. FEQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Strategic Dividend & Income Fund (FSDIX) and Fidelity Equity-Income Fund (FEQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSDIX achieves a 12.85% return, which is significantly higher than FEQIX's 9.28% return. Over the past 10 years, FSDIX has underperformed FEQIX with an annualized return of 9.20%, while FEQIX has yielded a comparatively higher 11.99% annualized return.

FSDIX

• 1D: 0.36%
• 1M: 0.36%
• YTD: 12.85%
• 6M: 6.04%
• 1Y: 16.50%
• 3Y*: 12.27%
• 5Y*: 7.49%
• 10Y*: 9.20%

FEQIX

• 1D: 0.17%
• 1M: 0.24%
• YTD: 9.28%
• 6M: 9.11%
• 1Y: 23.24%
• 3Y*: 17.14%
• 5Y*: 11.63%
• 10Y*: 11.99%

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

FSDIX vs. FEQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSDIX Fidelity Strategic Dividend & Income Fund	12.85%	6.52%	11.52%	9.45%	-9.84%	19.03%	11.23%	22.50%	-4.33%	11.23%
FEQIX Fidelity Equity-Income Fund	9.28%	18.96%	15.34%	10.62%	-5.10%	24.49%	6.77%	27.90%	-8.46%	12.80%

Correlation

The correlation between FSDIX and FEQIX 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 Dec 24, 2003	0.94

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

Return for Risk

FSDIX vs. FEQIX — Risk / Return Rank

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

FSDIX

FSDIX Risk / Return Rank: 40
FSDIX Sharpe Ratio Rank: 36
FSDIX Sortino Ratio Rank: 26
FSDIX Omega Ratio Rank: 45
FSDIX Calmar Ratio Rank: 51
FSDIX Martin Ratio Rank: 43

FEQIX

FEQIX Risk / Return Rank: 80
FEQIX Sharpe Ratio Rank: 80
FEQIX Sortino Ratio Rank: 80
FEQIX Omega Ratio Rank: 73
FEQIX Calmar Ratio Rank: 82
FEQIX 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.

FSDIX vs. FEQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Strategic Dividend & Income Fund (FSDIX) and Fidelity Equity-Income Fund (FEQIX). 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.

	FSDIX	FEQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.42	-0.81
Sortino ratio: Return per unit of downside risk	1.98	3.47	-1.49
Omega ratio: Gain probability vs. loss probability	1.34	1.44	-0.10
Calmar ratio: Return relative to maximum drawdown	2.61	3.62	-1.01
Martin ratio: Return relative to average drawdown	8.60	14.61	-6.01

FSDIX vs. FEQIX - Sharpe Ratio Comparison

The current FSDIX Sharpe Ratio is 1.61, which is lower than the FEQIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FSDIX and FEQIX, 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

FSDIX vs. FEQIX - Drawdown Comparison

The maximum FSDIX drawdown since its inception was -58.92%, smaller than the maximum FEQIX drawdown of -62.38%. Use the drawdown chart below to compare losses from any high point for FSDIX and FEQIX.

Drawdown Indicators

	FSDIX	FEQIX	Difference
Max Drawdown Largest peak-to-trough decline	-58.92%	-62.38%	+3.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.38%	-6.48%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-12.49%	-13.18%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-17.08%	-17.20%	+0.12%
Max Drawdown (10Y) Largest decline over 10 years	-29.99%	-33.12%	+3.13%
Current Drawdown Current decline from peak	-0.70%	-0.98%	+0.28%
Average Drawdown Average peak-to-trough decline	-6.34%	-8.00%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.60%	+0.33%

Volatility

FSDIX vs. FEQIX - Volatility Comparison

The current volatility for Fidelity Strategic Dividend & Income Fund (FSDIX) is 2.62%, while Fidelity Equity-Income Fund (FEQIX) has a volatility of 2.85%. This indicates that FSDIX experiences smaller price fluctuations and is considered to be less risky than FEQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSDIX	FEQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	2.85%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	7.40%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	9.69%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	13.47%	-2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.59%	15.50%	-2.91%

FSDIX vs. FEQIX - Expense Ratio Comparison

FSDIX has a 0.68% expense ratio, which is higher than FEQIX's 0.57% expense ratio.

Dividends

FSDIX vs. FEQIX - Dividend Comparison

FSDIX's dividend yield for the trailing twelve months is around 1.61%, less than FEQIX's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQIX Fidelity Equity-Income Fund	4.60%	4.67%	5.51%	4.26%	4.56%	9.90%	3.38%	7.16%	9.76%	6.29%	4.28%	12.17%
FSDIX Fidelity Strategic Dividend & Income Fund	1.61%	1.80%	5.27%	5.71%	4.23%	8.43%	5.67%	6.68%	8.19%	6.57%	4.92%	6.38%

Frequently Asked Questions

Can I hold both FSDIX and FEQIX in my portfolio?

With a correlation of 0.92, FSDIX and FEQIX 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, FSDIX or FEQIX?

FEQIX has higher volatility (2.85%) compared to FSDIX (2.62%). In terms of maximum drawdown, FSDIX dropped -58.92% vs FEQIX's -62.38%.

Which has better risk-adjusted returns?

FEQIX currently has the higher Sharpe Ratio (2.42 vs 1.61), 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.