FVLKX vs. FVAL
FVLKX (Fidelity Value Fund Class K) and FVAL (Fidelity Value Factor ETF) are both funds - FVLKX is a Mid Cap Value Equities fund managed by Fidelity, while FVAL is a Large Cap Value Equities fund tracking the Fidelity U.S. Value Factor Index. Over the past 5 years, FVLKX returned 13.35%/yr vs 12.35%/yr for FVAL. Their correlation of 0.86 means they have usually moved in the same direction. FVLKX charges 0.71%/yr vs 0.15%/yr for FVAL.
Performance
FVLKX vs. FVAL - Performance Comparison
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Returns By Period
In the year-to-date period, FVLKX achieves a 25.23% return, which is significantly higher than FVAL's 12.26% return.
FVLKX
- 1D
- -0.06%
- 1M
- 2.06%
- 6M
- 18.14%
- YTD
- 25.23%
- 1Y
- 40.09%
- 3Y*
- 19.06%
- 5Y*
- 13.35%
- 10Y*
- 13.10%
- ALL TIME*
- 10.19%
FVAL
- 1D
- 0.57%
- 1M
- 2.54%
- 6M
- 9.88%
- YTD
- 12.26%
- 1Y
- 28.47%
- 3Y*
- 18.46%
- 5Y*
- 12.35%
- 10Y*
- —
- ALL TIME*
- 14.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.44M | $3.65M | $2.95M | |
| $0.00 | $0.00 | $0.00 |
FVLKX vs. FVAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVLKX Fidelity Value Fund Class K | 25.23% | 11.37% | 14.64% | 19.65% | -8.91% | 35.38% | 9.41% | 31.92% | -17.56% | 14.09% |
FVAL Fidelity Value Factor ETF | 12.26% | 19.56% | 18.05% | 23.10% | -14.40% | 30.33% | 9.08% | 30.33% | -7.87% | 22.49% |
Correlation
The correlation between FVLKX and FVAL is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.86 |
The correlation between FVLKX and FVAL shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FVLKX vs. FVAL — Risk / Return Rank
FVLKX
FVAL
FVLKX vs. FVAL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Fund Class K (FVLKX) and Fidelity Value Factor ETF (FVAL). 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.
| FVLKX | FVAL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.69 | 3.02 | +0.68 |
| Martin ratioReturn relative to average drawdown | 14.06 | 12.33 | +1.73 |
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Drawdowns
FVLKX vs. FVAL - Drawdown Comparison
The maximum FVLKX drawdown since its inception was -62.82%, which is greater than FVAL's maximum drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for FVLKX and FVAL.
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Drawdown Indicators
| FVLKX | FVAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.82% | -37.26% | -25.56% |
Max Drawdown (1Y)Largest decline over 1 year | -9.86% | -8.92% | -0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -31.39% | -18.39% | -13.00% |
Max Drawdown (5Y)Largest decline over 5 years | -31.39% | -23.42% | -7.97% |
Max Drawdown (10Y)Largest decline over 10 years | -48.62% | — | — |
Current DrawdownCurrent decline from peak | -0.92% | 0.00% | -0.92% |
Average DrawdownAverage peak-to-trough decline | -9.34% | -4.54% | -4.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 2.18% | +0.45% |
Volatility
FVLKX vs. FVAL - Volatility Comparison
Fidelity Value Fund Class K (FVLKX) has a higher volatility of 3.31% compared to Fidelity Value Factor ETF (FVAL) at 2.90%. This indicates that FVLKX's price experiences larger fluctuations and is considered to be riskier than FVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVLKX | FVAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | 2.90% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 9.24% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.32% | 12.16% | +4.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.95% | 16.49% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.35% | 18.03% | +5.32% |
FVLKX vs. FVAL - Expense Ratio Comparison
FVLKX has a 0.71% expense ratio, which is higher than FVAL's 0.15% expense ratio.
Dividends
FVLKX vs. FVAL - Dividend Comparison
FVLKX's dividend yield for the trailing twelve months is around 8.01%, more than FVAL's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FVAL Fidelity Value Factor ETF | 1.56% | 1.61% | 1.60% | 1.69% | 1.79% | 1.41% | 1.61% | 1.77% | 2.06% | 1.62% | 0.45% | 0.00% |
FVLKX Fidelity Value Fund Class K | 8.01% | 10.03% | 20.95% | 3.80% | 7.16% | 9.87% | 1.06% | 3.43% | 16.38% | 3.37% | 1.36% | 11.10% |
Frequently Asked Questions
FVLKX and FVAL have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FVLKX has higher volatility (3.31%) compared to FVAL (2.90%). In terms of maximum drawdown, FVLKX dropped -62.82% vs FVAL's -37.26%.
FVLKX currently has the higher Sharpe Ratio (2.24 vs 2.22), 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.
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