FVLAX vs. ADVGX

Last updated Jul 3, 2026

FVLAX (Fidelity Advisor Value Leaders Fund Class A) and ADVGX (North Square Advisory Research Small Cap Value Fund) are both Large Cap Value Equities funds. Their correlation of 0.84 suggests significant overlap in exposure. FVLAX charges 1.15%/yr vs 0.95%/yr for ADVGX.

Performance

FVLAX vs. ADVGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Leaders Fund Class A (FVLAX) and North Square Advisory Research Small Cap Value Fund (ADVGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FVLAX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADVGX

• 1D: -0.48%
• 1M: 12.08%
• 6M: 24.89%
• YTD: 24.89%
• 1Y: 30.68%
• 3Y*: 21.21%
• 5Y*: 12.11%
• 10Y*: 12.89%

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

FVLAX vs. ADVGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVLAX Fidelity Advisor Value Leaders Fund Class A	0.00%	4.80%	4.34%	6.82%	1.10%	24.51%	-5.57%	21.30%	-9.26%	14.42%
ADVGX North Square Advisory Research Small Cap Value Fund	24.89%	7.13%	15.52%	20.90%	-12.98%	29.94%	-2.61%	27.64%	-3.27%	19.60%

Correlation

The correlation between FVLAX and ADVGX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 17, 2009	0.84

Over the past year, the correlation between FVLAX and ADVGX has dropped to 0.34 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

Return for Risk

FVLAX vs. ADVGX — Risk / Return Rank

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

FVLAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ADVGX

ADVGX Risk / Return Rank: 48
ADVGX Sharpe Ratio Rank: 53
ADVGX Sortino Ratio Rank: 59
ADVGX Omega Ratio Rank: 46
ADVGX Calmar Ratio Rank: 49
ADVGX Martin Ratio Rank: 33

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.

FVLAX vs. ADVGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Leaders Fund Class A (FVLAX) and North Square Advisory Research Small Cap Value Fund (ADVGX). 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.

	FVLAX	ADVGX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.52	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.22	—
Martin ratio: Return relative to average drawdown	—	5.91	—

Drawdowns

Drawdown Indicators

	FVLAX	ADVGX	Difference
Max Drawdown Largest peak-to-trough decline	—	-41.34%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.34%	—
Current Drawdown Current decline from peak	—	-0.48%	—
Average Drawdown Average peak-to-trough decline	—	-5.54%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.59%	—

Volatility

Volatility by Period

	FVLAX	ADVGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.50%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	21.55%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.06%	—

FVLAX vs. ADVGX - Expense Ratio Comparison

FVLAX has a 1.15% expense ratio, which is higher than ADVGX's 0.95% expense ratio.

Dividends

FVLAX vs. ADVGX - Dividend Comparison

FVLAX's dividend yield for the trailing twelve months is around 2.48%, less than ADVGX's 4.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVGX North Square Advisory Research Small Cap Value Fund	4.55%	5.68%	1.16%	0.85%	6.87%	7.52%	11.47%	11.43%	41.46%	9.66%	7.34%	19.79%
FVLAX Fidelity Advisor Value Leaders Fund Class A	2.48%	2.48%	11.39%	5.28%	1.87%	7.54%	0.61%	1.48%	8.96%	0.64%	0.45%	0.11%

Frequently Asked Questions

Can I hold both FVLAX and ADVGX in my portfolio?

FVLAX and ADVGX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.