FSLZX vs. QCGDX

Last updated Jun 24, 2026

FSLZX (Fidelity Advisor Stock Selector Mid Cap Fund Class Z) and QCGDX (Quantified Common Ground Fund) are both Mid Cap Blend Equities funds. Over the past 5 years, FSLZX returned 9.16%/yr vs 9.08%/yr for QCGDX. A 0.79 correlation means they provide meaningful diversification when combined. FSLZX charges 0.67%/yr vs 1.68%/yr for QCGDX.

Performance

FSLZX vs. QCGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector Mid Cap Fund Class Z (FSLZX) and Quantified Common Ground Fund (QCGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSLZX achieves a 21.56% return, which is significantly higher than QCGDX's 16.84% return.

FSLZX

• 1D: 0.21%
• 1M: 5.55%
• YTD: 21.56%
• 6M: 19.35%
• 1Y: 32.83%
• 3Y*: 17.83%
• 5Y*: 9.16%
• 10Y*: —

QCGDX

• 1D: -0.06%
• 1M: 0.63%
• YTD: 16.84%
• 6M: 16.10%
• 1Y: 22.20%
• 3Y*: 12.91%
• 5Y*: 9.08%
• 10Y*: —

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

FSLZX vs. QCGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FSLZX Fidelity Advisor Stock Selector Mid Cap Fund Class Z	21.56%	10.58%	9.00%	17.32%	-13.77%	23.38%	13.20%	0.11%
QCGDX Quantified Common Ground Fund	16.84%	1.02%	9.87%	14.74%	-12.23%	32.19%	14.65%	0.10%

Correlation

The correlation between FSLZX and QCGDX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 30, 2019	0.79

The correlation between FSLZX and QCGDX has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

Return for Risk

FSLZX vs. QCGDX — Risk / Return Rank

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

FSLZX

FSLZX Risk / Return Rank: 68
FSLZX Sharpe Ratio Rank: 59
FSLZX Sortino Ratio Rank: 58
FSLZX Omega Ratio Rank: 52
FSLZX Calmar Ratio Rank: 87
FSLZX Martin Ratio Rank: 85

QCGDX

QCGDX Risk / Return Rank: 53
QCGDX Sharpe Ratio Rank: 40
QCGDX Sortino Ratio Rank: 39
QCGDX Omega Ratio Rank: 44
QCGDX Calmar Ratio Rank: 65
QCGDX Martin Ratio Rank: 75

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.

FSLZX vs. QCGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector Mid Cap Fund Class Z (FSLZX) and Quantified Common Ground Fund (QCGDX). 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.

	FSLZX	QCGDX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.73	+0.36
Sortino ratio: Return per unit of downside risk	2.94	2.41	+0.53
Omega ratio: Gain probability vs. loss probability	1.36	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	3.97	2.96	+1.01
Martin ratio: Return relative to average drawdown	14.78	13.27	+1.50

FSLZX vs. QCGDX - Sharpe Ratio Comparison

The current FSLZX Sharpe Ratio is 2.09, which is comparable to the QCGDX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FSLZX and QCGDX, 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

FSLZX vs. QCGDX - Drawdown Comparison

The maximum FSLZX drawdown since its inception was -43.36%, which is greater than QCGDX's maximum drawdown of -22.37%. Use the drawdown chart below to compare losses from any high point for FSLZX and QCGDX.

Drawdown Indicators

	FSLZX	QCGDX	Difference
Max Drawdown Largest peak-to-trough decline	-43.36%	-22.37%	-20.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.68%	-7.92%	-0.76%
Max Drawdown (3Y) Largest decline over 3 years	-25.28%	-16.10%	-9.18%
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	-20.18%	-5.10%
Current Drawdown Current decline from peak	0.00%	-1.40%	+1.40%
Average Drawdown Average peak-to-trough decline	-6.02%	-6.10%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	1.76%	+0.57%

Volatility

FSLZX vs. QCGDX - Volatility Comparison

The current volatility for Fidelity Advisor Stock Selector Mid Cap Fund Class Z (FSLZX) is 5.07%, while Quantified Common Ground Fund (QCGDX) has a volatility of 7.34%. This indicates that FSLZX experiences smaller price fluctuations and is considered to be less risky than QCGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSLZX	QCGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.07%	7.34%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	12.74%	11.31%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	16.56%	13.58%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.07%	14.98%	+5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.47%	16.61%	+4.86%

FSLZX vs. QCGDX - Expense Ratio Comparison

FSLZX has a 0.67% expense ratio, which is lower than QCGDX's 1.68% expense ratio.

Dividends

FSLZX vs. QCGDX - Dividend Comparison

FSLZX's dividend yield for the trailing twelve months is around 6.57%, more than QCGDX's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSLZX Fidelity Advisor Stock Selector Mid Cap Fund Class Z	6.57%	7.99%	0.00%	0.91%	9.89%	12.98%	2.42%	4.32%	21.29%	4.12%
QCGDX Quantified Common Ground Fund	0.59%	0.69%	4.42%	0.22%	0.00%	5.44%	1.65%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSLZX and QCGDX in my portfolio?

FSLZX and QCGDX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSLZX or QCGDX?

QCGDX has higher volatility (7.34%) compared to FSLZX (5.07%). In terms of maximum drawdown, FSLZX dropped -43.36% vs QCGDX's -22.37%.

Which has better risk-adjusted returns?

FSLZX currently has the higher Sharpe Ratio (2.09 vs 1.73), 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.