FSWCX vs. MALVX

Last updated Jun 24, 2026

FSWCX (Fidelity SAI U.S. Value Index Fund) and MALVX (BlackRock Advantage Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 5 years, FSWCX returned 14.67%/yr vs 12.93%/yr for MALVX. Their correlation of 0.93 suggests significant overlap in exposure. FSWCX charges 0.10%/yr vs 0.54%/yr for MALVX.

Performance

FSWCX vs. MALVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI U.S. Value Index Fund (FSWCX) and BlackRock Advantage Large Cap Value Fund (MALVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSWCX achieves a 14.13% return, which is significantly lower than MALVX's 19.19% return.

FSWCX

• 1D: 0.46%
• 1M: 1.45%
• YTD: 14.13%
• 6M: 13.62%
• 1Y: 33.16%
• 3Y*: 23.44%
• 5Y*: 14.67%
• 10Y*: —

MALVX

• 1D: 0.54%
• 1M: 4.33%
• YTD: 19.19%
• 6M: 18.50%
• 1Y: 36.19%
• 3Y*: 21.58%
• 5Y*: 12.93%
• 10Y*: 13.27%

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

FSWCX vs. MALVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSWCX Fidelity SAI U.S. Value Index Fund	14.13%	22.50%	19.90%	12.64%	-3.50%	30.43%	-4.44%	29.09%	-11.54%	0.77%
MALVX BlackRock Advantage Large Cap Value Fund	19.19%	18.38%	15.39%	13.74%	-8.68%	26.51%	3.91%	24.74%	-7.74%	-0.10%

Correlation

The correlation between FSWCX and MALVX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.93

The correlation between FSWCX and MALVX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

FSWCX vs. MALVX — Risk / Return Rank

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

FSWCX

FSWCX Risk / Return Rank: 92
FSWCX Sharpe Ratio Rank: 93
FSWCX Sortino Ratio Rank: 89
FSWCX Omega Ratio Rank: 85
FSWCX Calmar Ratio Rank: 96
FSWCX Martin Ratio Rank: 95

MALVX

MALVX Risk / Return Rank: 95
MALVX Sharpe Ratio Rank: 97
MALVX Sortino Ratio Rank: 95
MALVX Omega Ratio Rank: 90
MALVX Calmar Ratio Rank: 96
MALVX Martin Ratio Rank: 97

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.

FSWCX vs. MALVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI U.S. Value Index Fund (FSWCX) and BlackRock Advantage Large Cap Value Fund (MALVX). 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.

	FSWCX	MALVX	Difference
Sharpe ratio: Return per unit of total volatility	2.96	3.35	-0.39
Sortino ratio: Return per unit of downside risk	4.00	4.65	-0.65
Omega ratio: Gain probability vs. loss probability	1.54	1.61	-0.07
Calmar ratio: Return relative to maximum drawdown	5.90	5.71	+0.19
Martin ratio: Return relative to average drawdown	20.07	25.85	-5.78

FSWCX vs. MALVX - Sharpe Ratio Comparison

The current FSWCX Sharpe Ratio is 2.96, which is comparable to the MALVX Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of FSWCX and MALVX, 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

FSWCX vs. MALVX - Drawdown Comparison

The maximum FSWCX drawdown since its inception was -41.41%, smaller than the maximum MALVX drawdown of -55.21%. Use the drawdown chart below to compare losses from any high point for FSWCX and MALVX.

Drawdown Indicators

	FSWCX	MALVX	Difference
Max Drawdown Largest peak-to-trough decline	-41.41%	-55.21%	+13.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.77%	-6.53%	+0.76%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-16.13%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-19.62%	-19.73%	+0.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.12%	—
Current Drawdown Current decline from peak	-1.79%	0.00%	-1.79%
Average Drawdown Average peak-to-trough decline	-5.55%	-8.74%	+3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.44%	+0.25%

Volatility

FSWCX vs. MALVX - Volatility Comparison

Fidelity SAI U.S. Value Index Fund (FSWCX) and BlackRock Advantage Large Cap Value Fund (MALVX) have volatilities of 4.14% and 4.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSWCX	MALVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	4.09%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.21%	8.79%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	11.53%	11.15%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	14.81%	+1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	17.34%	+3.41%

FSWCX vs. MALVX - Expense Ratio Comparison

FSWCX has a 0.10% expense ratio, which is lower than MALVX's 0.54% expense ratio.

Dividends

FSWCX vs. MALVX - Dividend Comparison

FSWCX's dividend yield for the trailing twelve months is around 6.48%, less than MALVX's 7.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSWCX Fidelity SAI U.S. Value Index Fund	6.48%	7.40%	8.86%	9.68%	12.90%	5.71%	2.55%	2.37%	3.84%	0.07%	0.00%	0.00%
MALVX BlackRock Advantage Large Cap Value Fund	7.74%	9.23%	14.33%	2.84%	5.96%	17.48%	1.68%	3.92%	12.95%	0.43%	1.38%	1.01%

Frequently Asked Questions

Can I hold both FSWCX and MALVX in my portfolio?

FSWCX and MALVX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSWCX or MALVX?

FSWCX has higher volatility (4.14%) compared to MALVX (4.09%). In terms of maximum drawdown, FSWCX dropped -41.41% vs MALVX's -55.21%.

Which has better risk-adjusted returns?

MALVX currently has the higher Sharpe Ratio (3.35 vs 2.96), 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.