FTCVX vs. FACVX

Last updated Jun 3, 2026

FTCVX (Fidelity Advisor Convertible Securities Fund Class M) and FACVX (Fidelity Advisor Convertible Securities Fund Class A) are both Preferred Stock/Convertible Bonds funds from Fidelity. Over the past 10 years, FTCVX returned 12.73%/yr vs 12.85%/yr for FACVX. With a 1.00 correlation, they move nearly in lockstep. FTCVX charges 1.23%/yr vs 0.97%/yr for FACVX.

Performance

FTCVX vs. FACVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Convertible Securities Fund Class M (FTCVX) and Fidelity Advisor Convertible Securities Fund Class A (FACVX). 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 FTCVX having a 23.71% return and FACVX slightly higher at 23.82%. Both investments have delivered pretty close results over the past 10 years, with FTCVX having a 12.73% annualized return and FACVX not far ahead at 12.85%.

FTCVX

• 1D: 0.90%
• 1M: 6.49%
• YTD: 23.71%
• 6M: 24.09%
• 1Y: 43.10%
• 3Y*: 19.16%
• 5Y*: 8.94%
• 10Y*: 12.73%

FACVX

• 1D: 0.90%
• 1M: 6.50%
• YTD: 23.82%
• 6M: 24.22%
• 1Y: 43.46%
• 3Y*: 18.85%
• 5Y*: 8.88%
• 10Y*: 12.85%

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

FTCVX vs. FACVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTCVX Fidelity Advisor Convertible Securities Fund Class M	23.71%	17.67%	7.70%	12.42%	-15.82%	9.35%	41.70%	27.83%	-1.88%	8.54%
FACVX Fidelity Advisor Convertible Securities Fund Class A	23.82%	17.95%	7.92%	11.06%	-15.59%	9.63%	42.09%	28.21%	-1.59%	8.77%

Correlation

The correlation between FTCVX and FACVX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Feb 20, 2009	1.00

The correlation between FTCVX and FACVX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FTCVX vs. FACVX — Risk / Return Rank

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

FTCVX

FTCVX Risk / Return Rank: 88
FTCVX Sharpe Ratio Rank: 90
FTCVX Sortino Ratio Rank: 81
FTCVX Omega Ratio Rank: 78
FTCVX Calmar Ratio Rank: 96
FTCVX Martin Ratio Rank: 96

FACVX

FACVX Risk / Return Rank: 88
FACVX Sharpe Ratio Rank: 90
FACVX Sortino Ratio Rank: 81
FACVX Omega Ratio Rank: 78
FACVX Calmar Ratio Rank: 96
FACVX Martin Ratio Rank: 96

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.

FTCVX vs. FACVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Convertible Securities Fund Class M (FTCVX) and Fidelity Advisor Convertible Securities Fund Class A (FACVX). 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.

	FTCVX	FACVX	Difference
Sharpe ratio Return per unit of total volatility	2.96	2.99	-0.03
Sortino ratio Return per unit of downside risk	3.82	3.85	-0.04
Omega ratio Gain probability vs. loss probability	1.51	1.51	0.00
Calmar ratio Return relative to maximum drawdown	6.10	6.15	-0.05
Martin ratio Return relative to average drawdown	23.82	24.15	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTCVX vs. FACVX - Sharpe Ratio Comparison

The current FTCVX Sharpe Ratio is 2.96, which is comparable to the FACVX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of FTCVX and FACVX, 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

	FTCVX	FACVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	2.99	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.66	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.95	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.01	-0.02

Drawdowns

FTCVX vs. FACVX - Drawdown Comparison

The maximum FTCVX drawdown since its inception was -25.10%, roughly equal to the maximum FACVX drawdown of -25.09%. Use the drawdown chart below to compare losses from any high point for FTCVX and FACVX.

Drawdown Indicators

	FTCVX	FACVX	Difference
Max Drawdown Largest peak-to-trough decline	-25.10%	-25.09%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-7.15%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.91%	-18.91%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-24.45%	-24.32%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-25.10%	-25.09%	-0.01%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.85%	-5.76%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.82%	+0.01%

Volatility

FTCVX vs. FACVX - Volatility Comparison

Fidelity Advisor Convertible Securities Fund Class M (FTCVX) and Fidelity Advisor Convertible Securities Fund Class A (FACVX) have volatilities of 4.81% and 4.79%, 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

	FTCVX	FACVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	4.79%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	11.82%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	14.81%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	13.47%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.65%	13.65%	0.00%

FTCVX vs. FACVX - Expense Ratio Comparison

FTCVX has a 1.23% expense ratio, which is higher than FACVX's 0.97% expense ratio.

Dividends

FTCVX vs. FACVX - Dividend Comparison

FTCVX's dividend yield for the trailing twelve months is around 8.50%, less than FACVX's 8.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FACVX Fidelity Advisor Convertible Securities Fund Class A	8.74%	11.18%	1.85%	1.86%	3.48%	20.42%	10.56%	3.04%	9.55%	3.89%	4.62%	10.02%
FTCVX Fidelity Advisor Convertible Securities Fund Class M	8.50%	10.89%	1.66%	3.03%	3.18%	20.07%	10.32%	2.74%	9.06%	3.78%	4.32%	9.73%

Frequently Asked Questions

Can I hold both FTCVX and FACVX in my portfolio?

With a correlation of 1.00, FTCVX and FACVX 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, FTCVX or FACVX?

FTCVX has higher volatility (4.81%) compared to FACVX (4.79%). In terms of maximum drawdown, FTCVX dropped -25.10% vs FACVX's -25.09%.

Which has better risk-adjusted returns?

FACVX currently has the higher Sharpe Ratio (2.99 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.