FSOAX vs. UMCVX

Last updated Jun 4, 2026

FSOAX (Fidelity Advisor Value Strategies Fund Class A) and UMCVX (Invesco V.I. American Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FSOAX returned 9.55%/yr vs 14.19%/yr for UMCVX. Their correlation of 0.85 suggests significant overlap in exposure. FSOAX charges 1.13%/yr vs 0.89%/yr for UMCVX.

Performance

FSOAX vs. UMCVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Strategies Fund Class A (FSOAX) and Invesco V.I. American Value Fund (UMCVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSOAX achieves a 20.88% return, which is significantly lower than UMCVX's 24.24% return. Over the past 10 years, FSOAX has underperformed UMCVX with an annualized return of 9.55%, while UMCVX has yielded a comparatively higher 14.19% annualized return.

FSOAX

• 1D: 0.32%
• 1M: 3.46%
• YTD: 20.88%
• 6M: 10.92%
• 1Y: 26.76%
• 3Y*: 10.01%
• 5Y*: 5.68%
• 10Y*: 9.55%

UMCVX

• 1D: 4.35%
• 1M: 7.23%
• YTD: 24.24%
• 6M: 24.38%
• 1Y: 51.41%
• 3Y*: 32.68%
• 5Y*: 17.91%
• 10Y*: 14.19%

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

FSOAX vs. UMCVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSOAX Fidelity Advisor Value Strategies Fund Class A	20.88%	-2.17%	-3.64%	20.24%	-7.61%	32.95%	7.95%	34.16%	-17.02%	17.21%
UMCVX Invesco V.I. American Value Fund	24.24%	21.17%	30.42%	15.70%	-2.53%	27.96%	1.15%	24.95%	-12.56%	9.97%

Correlation

The correlation between FSOAX and UMCVX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.85

The correlation between FSOAX and UMCVX shifts across timeframes, from 0.81 (1 year) to 0.92 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FSOAX vs. UMCVX — Risk / Return Rank

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

FSOAX

FSOAX Risk / Return Rank: 33
FSOAX Sharpe Ratio Rank: 27
FSOAX Sortino Ratio Rank: 21
FSOAX Omega Ratio Rank: 29
FSOAX Calmar Ratio Rank: 44
FSOAX Martin Ratio Rank: 41

UMCVX

UMCVX Risk / Return Rank: 87
UMCVX Sharpe Ratio Rank: 89
UMCVX Sortino Ratio Rank: 80
UMCVX Omega Ratio Rank: 77
UMCVX Calmar Ratio Rank: 94
UMCVX Martin Ratio Rank: 93

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.

FSOAX vs. UMCVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Strategies Fund Class A (FSOAX) and Invesco V.I. American Value Fund (UMCVX). 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.

	FSOAX	UMCVX	Difference
Sharpe ratio Return per unit of total volatility	1.49	2.95	-1.46
Sortino ratio Return per unit of downside risk	1.94	3.79	-1.85
Omega ratio Gain probability vs. loss probability	1.29	1.51	-0.22
Calmar ratio Return relative to maximum drawdown	2.53	5.54	-3.01
Martin ratio Return relative to average drawdown	8.83	20.15	-11.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSOAX vs. UMCVX - Sharpe Ratio Comparison

The current FSOAX Sharpe Ratio is 1.49, which is lower than the UMCVX Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of FSOAX and UMCVX, 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

	FSOAX	UMCVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	2.95	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.66	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.57	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.44	-0.04

Drawdowns

FSOAX vs. UMCVX - Drawdown Comparison

The maximum FSOAX drawdown since its inception was -70.02%, which is greater than UMCVX's maximum drawdown of -59.30%. Use the drawdown chart below to compare losses from any high point for FSOAX and UMCVX.

Drawdown Indicators

	FSOAX	UMCVX	Difference
Max Drawdown Largest peak-to-trough decline	-70.02%	-59.30%	-10.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-9.69%	-1.87%
Max Drawdown (3Y) Largest decline over 3 years	-35.33%	-25.10%	-10.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.33%	-25.10%	-10.23%
Max Drawdown (10Y) Largest decline over 10 years	-47.99%	-45.77%	-2.22%
Current Drawdown Current decline from peak	-3.97%	0.00%	-3.97%
Average Drawdown Average peak-to-trough decline	-9.99%	-10.06%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.66%	+0.64%

Volatility

FSOAX vs. UMCVX - Volatility Comparison

The current volatility for Fidelity Advisor Value Strategies Fund Class A (FSOAX) is 4.28%, while Invesco V.I. American Value Fund (UMCVX) has a volatility of 6.26%. This indicates that FSOAX experiences smaller price fluctuations and is considered to be less risky than UMCVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSOAX	UMCVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	6.26%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	15.80%	14.26%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	19.67%	18.18%	+1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	27.26%	-6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	25.16%	-2.87%

FSOAX vs. UMCVX - Expense Ratio Comparison

FSOAX has a 1.13% expense ratio, which is higher than UMCVX's 0.89% expense ratio.

Dividends

FSOAX vs. UMCVX - Dividend Comparison

FSOAX has not paid dividends to shareholders, while UMCVX's dividend yield for the trailing twelve months is around 13.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSOAX Fidelity Advisor Value Strategies Fund Class A	0.00%	0.00%	0.00%	2.90%	2.43%	8.70%	0.82%	5.59%	17.03%	7.64%	22.64%	1.10%
UMCVX Invesco V.I. American Value Fund	13.49%	16.76%	3.11%	25.58%	23.66%	0.42%	1.65%	8.19%	19.87%	1.91%	5.79%	15.77%

Frequently Asked Questions

Can I hold both FSOAX and UMCVX in my portfolio?

FSOAX and UMCVX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSOAX or UMCVX?

UMCVX has higher volatility (6.26%) compared to FSOAX (4.28%). In terms of maximum drawdown, FSOAX dropped -70.02% vs UMCVX's -59.30%.

Which has better risk-adjusted returns?

UMCVX currently has the higher Sharpe Ratio (2.95 vs 1.49), 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.