FSSMX vs. FIIMX

Last updated Jun 23, 2026

FSSMX (Fidelity Stock Selector Mid Cap Fund) and FIIMX (Fidelity Advisor Mid Cap II Fund Class I) are both Mid Cap Blend Equities funds from Fidelity. Over the past 10 years, FSSMX returned 11.87%/yr vs 12.29%/yr for FIIMX. With a 0.97 correlation, they move nearly in lockstep. FSSMX charges 0.79%/yr vs 0.73%/yr for FIIMX.

Performance

FSSMX vs. FIIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stock Selector Mid Cap Fund (FSSMX) and Fidelity Advisor Mid Cap II Fund Class I (FIIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSSMX achieves a 21.28% return, which is significantly lower than FIIMX's 25.12% return. Both investments have delivered pretty close results over the past 10 years, with FSSMX having a 11.87% annualized return and FIIMX not far ahead at 12.29%.

FSSMX

• 1D: 1.51%
• 1M: 5.31%
• YTD: 21.28%
• 6M: 9.99%
• 1Y: 24.05%
• 3Y*: 14.89%
• 5Y*: 8.49%
• 10Y*: 11.87%

FIIMX

• 1D: 1.39%
• 1M: 6.04%
• YTD: 25.12%
• 6M: 23.32%
• 1Y: 42.74%
• 3Y*: 19.55%
• 5Y*: 11.69%
• 10Y*: 12.29%

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

FSSMX vs. FIIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSSMX Fidelity Stock Selector Mid Cap Fund	21.28%	2.35%	12.50%	17.16%	-13.90%	23.25%	13.03%	29.57%	-7.70%	19.54%
FIIMX Fidelity Advisor Mid Cap II Fund Class I	25.12%	7.71%	17.21%	15.01%	-14.80%	25.26%	18.68%	23.72%	-14.97%	20.62%

Correlation

The correlation between FSSMX and FIIMX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 6, 2012	0.97

The correlation between FSSMX and FIIMX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FSSMX vs. FIIMX — Risk / Return Rank

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

FSSMX

FSSMX Risk / Return Rank: 31
FSSMX Sharpe Ratio Rank: 24
FSSMX Sortino Ratio Rank: 21
FSSMX Omega Ratio Rank: 27
FSSMX Calmar Ratio Rank: 46
FSSMX Martin Ratio Rank: 38

FIIMX

FIIMX Risk / Return Rank: 82
FIIMX Sharpe Ratio Rank: 82
FIIMX Sortino Ratio Rank: 76
FIIMX Omega Ratio Rank: 71
FIIMX Calmar Ratio Rank: 91
FIIMX Martin Ratio Rank: 92

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.

FSSMX vs. FIIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stock Selector Mid Cap Fund (FSSMX) and Fidelity Advisor Mid Cap II Fund Class I (FIIMX). 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.

	FSSMX	FIIMX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.43	-1.11
Sortino ratio: Return per unit of downside risk	1.78	3.27	-1.50
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	2.49	4.37	-1.88
Martin ratio: Return relative to average drawdown	7.95	17.49	-9.54

FSSMX vs. FIIMX - Sharpe Ratio Comparison

The current FSSMX Sharpe Ratio is 1.32, which is lower than the FIIMX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FSSMX and FIIMX, 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

FSSMX vs. FIIMX - Drawdown Comparison

The maximum FSSMX drawdown since its inception was -43.37%, smaller than the maximum FIIMX drawdown of -53.22%. Use the drawdown chart below to compare losses from any high point for FSSMX and FIIMX.

Drawdown Indicators

	FSSMX	FIIMX	Difference
Max Drawdown Largest peak-to-trough decline	-43.37%	-53.22%	+9.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-9.83%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.82%	-28.06%	+5.24%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	-28.06%	+4.06%
Max Drawdown (10Y) Largest decline over 10 years	-43.37%	-42.29%	-1.08%
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-5.07%	-8.05%	+2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	2.45%	+0.60%

Volatility

FSSMX vs. FIIMX - Volatility Comparison

The current volatility for Fidelity Stock Selector Mid Cap Fund (FSSMX) is 5.39%, while Fidelity Advisor Mid Cap II Fund Class I (FIIMX) has a volatility of 5.81%. This indicates that FSSMX experiences smaller price fluctuations and is considered to be less risky than FIIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSSMX	FIIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	5.81%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	15.29%	14.22%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.41%	17.67%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	20.41%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	21.04%	+0.14%

FSSMX vs. FIIMX - Expense Ratio Comparison

FSSMX has a 0.79% expense ratio, which is higher than FIIMX's 0.73% expense ratio.

Dividends

FSSMX vs. FIIMX - Dividend Comparison

FSSMX has not paid dividends to shareholders, while FIIMX's dividend yield for the trailing twelve months is around 5.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIIMX Fidelity Advisor Mid Cap II Fund Class I	5.49%	6.06%	6.79%	2.71%	5.70%	18.41%	1.29%	3.30%	10.56%	7.67%	4.84%	4.76%
FSSMX Fidelity Stock Selector Mid Cap Fund	0.00%	0.00%	3.10%	0.78%	9.73%	12.87%	2.31%	4.03%	21.01%	4.12%	0.92%	1.84%

Frequently Asked Questions

Can I hold both FSSMX and FIIMX in my portfolio?

With a correlation of 0.97, FSSMX and FIIMX 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, FSSMX or FIIMX?

FIIMX has higher volatility (5.81%) compared to FSSMX (5.39%). In terms of maximum drawdown, FSSMX dropped -43.37% vs FIIMX's -53.22%.

Which has better risk-adjusted returns?

FIIMX currently has the higher Sharpe Ratio (2.43 vs 1.32), 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.