FSUVX vs. FDLO

Last updated Jun 5, 2026

FSUVX (Fidelity SAI U.S. Low Volatility Index Fund) and FDLO (Fidelity Low Volatility Factor ETF) are both funds - FSUVX is a Large Cap Blend Equities fund managed by Fidelity, while FDLO is a Volatility Hedged Equity fund tracking the Fidelity U.S. Low Volatility Factor Index. Over the past 5 years, FSUVX returned 9.48%/yr vs 10.20%/yr for FDLO. Their correlation of 0.95 suggests significant overlap in exposure. FSUVX charges 0.11%/yr vs 0.29%/yr for FDLO.

Performance

FSUVX vs. FDLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI U.S. Low Volatility Index Fund (FSUVX) and Fidelity Low Volatility Factor ETF (FDLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FSUVX having a 5.18% return and FDLO slightly higher at 5.38%.

FSUVX

• 1D: -0.99%
• 1M: 2.09%
• YTD: 5.18%
• 6M: 5.47%
• 1Y: 12.53%
• 3Y*: 14.44%
• 5Y*: 9.48%
• 10Y*: 11.34%

FDLO

• 1D: 0.36%
• 1M: 1.29%
• YTD: 5.38%
• 6M: 4.87%
• 1Y: 15.69%
• 3Y*: 14.49%
• 5Y*: 10.20%
• 10Y*: —

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

FSUVX vs. FDLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSUVX Fidelity SAI U.S. Low Volatility Index Fund	5.18%	11.03%	17.40%	14.80%	-10.93%	21.51%	9.86%	27.73%	1.35%	17.68%
FDLO Fidelity Low Volatility Factor ETF	5.38%	11.77%	16.06%	16.38%	-10.38%	24.00%	12.19%	31.10%	-0.26%	20.44%

Correlation

The correlation between FSUVX and FDLO is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.95

The correlation between FSUVX and FDLO has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FSUVX vs. FDLO — Risk / Return Rank

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

FSUVX

FSUVX Risk / Return Rank: 26
FSUVX Sharpe Ratio Rank: 27
FSUVX Sortino Ratio Rank: 26
FSUVX Omega Ratio Rank: 24
FSUVX Calmar Ratio Rank: 22
FSUVX Martin Ratio Rank: 32

FDLO

FDLO Risk / Return Rank: 52
FDLO Sharpe Ratio Rank: 54
FDLO Sortino Ratio Rank: 54
FDLO Omega Ratio Rank: 53
FDLO Calmar Ratio Rank: 45
FDLO Martin Ratio Rank: 56

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.

FSUVX vs. FDLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI U.S. Low Volatility Index Fund (FSUVX) and Fidelity Low Volatility Factor ETF (FDLO). 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.

	FSUVX	FDLO	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.80	-0.33
Sortino ratio: Return per unit of downside risk	2.14	2.56	-0.43
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	1.71	2.21	-0.50
Martin ratio: Return relative to average drawdown	7.21	9.62	-2.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSUVX vs. FDLO - Sharpe Ratio Comparison

The current FSUVX Sharpe Ratio is 1.47, which is comparable to the FDLO Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of FSUVX and FDLO, 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

	FSUVX	FDLO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	1.80	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.78	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.83	-0.07

Drawdowns

FSUVX vs. FDLO - Drawdown Comparison

The maximum FSUVX drawdown since its inception was -32.41%, smaller than the maximum FDLO drawdown of -34.35%. Use the drawdown chart below to compare losses from any high point for FSUVX and FDLO.

Drawdown Indicators

	FSUVX	FDLO	Difference
Max Drawdown Largest peak-to-trough decline	-32.41%	-34.35%	+1.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-7.13%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-11.55%	-13.68%	+2.13%
Max Drawdown (5Y) Largest decline over 5 years	-19.48%	-19.23%	-0.25%
Max Drawdown (10Y) Largest decline over 10 years	-32.41%	—	—
Current Drawdown Current decline from peak	-1.15%	-0.55%	-0.60%
Average Drawdown Average peak-to-trough decline	-3.28%	-3.38%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.63%	+0.09%

Volatility

FSUVX vs. FDLO - Volatility Comparison

Fidelity SAI U.S. Low Volatility Index Fund (FSUVX) has a higher volatility of 2.09% compared to Fidelity Low Volatility Factor ETF (FDLO) at 1.91%. This indicates that FSUVX's price experiences larger fluctuations and is considered to be riskier than FDLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSUVX	FDLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	1.91%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	6.25%	6.42%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	8.45%	8.75%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.96%	13.06%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	15.50%	-0.32%

FSUVX vs. FDLO - Expense Ratio Comparison

FSUVX has a 0.11% expense ratio, which is lower than FDLO's 0.29% expense ratio.

Dividends

FSUVX vs. FDLO - Dividend Comparison

FSUVX's dividend yield for the trailing twelve months is around 4.23%, more than FDLO's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDLO Fidelity Low Volatility Factor ETF	1.36%	1.37%	1.40%	1.35%	1.49%	1.11%	1.38%	1.55%	1.76%	1.61%	0.55%	0.00%
FSUVX Fidelity SAI U.S. Low Volatility Index Fund	4.23%	4.45%	2.25%	1.74%	4.12%	3.52%	1.31%	3.80%	2.63%	2.94%	2.23%	1.17%

Frequently Asked Questions

Can I hold both FSUVX and FDLO in my portfolio?

With a correlation of 0.93, FSUVX and FDLO 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, FSUVX or FDLO?

FSUVX has higher volatility (2.09%) compared to FDLO (1.91%). In terms of maximum drawdown, FSUVX dropped -32.41% vs FDLO's -34.35%.

Which has better risk-adjusted returns?

FDLO currently has the higher Sharpe Ratio (1.80 vs 1.47), 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.