FVLKX vs. SMVTX

Last updated Jun 4, 2026

FVLKX (Fidelity Value Fund Class K) and SMVTX (Virtus Ceredex Mid-Cap Value Equity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FVLKX returned 12.52%/yr vs 12.21%/yr for SMVTX. Their correlation of 0.94 suggests significant overlap in exposure. FVLKX charges 0.71%/yr vs 0.99%/yr for SMVTX.

Performance

FVLKX vs. SMVTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Value Fund Class K (FVLKX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVLKX achieves a 16.92% return, which is significantly lower than SMVTX's 21.54% return. Both investments have delivered pretty close results over the past 10 years, with FVLKX having a 12.52% annualized return and SMVTX not far behind at 12.21%.

FVLKX

• 1D: 0.31%
• 1M: 3.39%
• YTD: 16.92%
• 6M: 18.17%
• 1Y: 34.76%
• 3Y*: 20.53%
• 5Y*: 11.15%
• 10Y*: 12.52%

SMVTX

• 1D: 1.80%
• 1M: 2.73%
• YTD: 21.54%
• 6M: 20.83%
• 1Y: 43.86%
• 3Y*: 23.93%
• 5Y*: 11.97%
• 10Y*: 12.21%

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

FVLKX vs. SMVTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVLKX Fidelity Value Fund Class K	16.92%	11.37%	14.64%	19.65%	-8.91%	35.38%	9.41%	31.92%	-17.56%	14.09%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	21.54%	17.58%	18.93%	10.94%	-13.89%	29.15%	-1.19%	33.14%	-8.01%	11.69%

Correlation

The correlation between FVLKX and SMVTX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 12, 2008	0.94

The correlation between FVLKX and SMVTX shifts across timeframes, from 0.83 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FVLKX vs. SMVTX — Risk / Return Rank

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

FVLKX

FVLKX Risk / Return Rank: 66
FVLKX Sharpe Ratio Rank: 61
FVLKX Sortino Ratio Rank: 61
FVLKX Omega Ratio Rank: 52
FVLKX Calmar Ratio Rank: 82
FVLKX Martin Ratio Rank: 72

SMVTX

SMVTX Risk / Return Rank: 89
SMVTX Sharpe Ratio Rank: 90
SMVTX Sortino Ratio Rank: 85
SMVTX Omega Ratio Rank: 79
SMVTX Calmar Ratio Rank: 96
SMVTX 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.

FVLKX vs. SMVTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Fund Class K (FVLKX) and Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX). 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.

	FVLKX	SMVTX	Difference
Sharpe ratio Return per unit of total volatility	2.30	2.99	-0.69
Sortino ratio Return per unit of downside risk	3.29	4.06	-0.77
Omega ratio Gain probability vs. loss probability	1.40	1.51	-0.12
Calmar ratio Return relative to maximum drawdown	3.77	6.39	-2.62
Martin ratio Return relative to average drawdown	13.77	23.52	-9.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FVLKX vs. SMVTX - Sharpe Ratio Comparison

The current FVLKX Sharpe Ratio is 2.30, which is comparable to the SMVTX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of FVLKX and SMVTX, 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

	FVLKX	SMVTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.99	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.59	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.59	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.49	-0.09

Drawdowns

FVLKX vs. SMVTX - Drawdown Comparison

The maximum FVLKX drawdown since its inception was -62.82%, which is greater than SMVTX's maximum drawdown of -54.72%. Use the drawdown chart below to compare losses from any high point for FVLKX and SMVTX.

Drawdown Indicators

	FVLKX	SMVTX	Difference
Max Drawdown Largest peak-to-trough decline	-62.82%	-54.72%	-8.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.86%	-7.17%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-31.39%	-24.75%	-6.64%
Max Drawdown (5Y) Largest decline over 5 years	-31.39%	-25.44%	-5.95%
Max Drawdown (10Y) Largest decline over 10 years	-48.62%	-45.45%	-3.17%
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-9.42%	-8.23%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	1.94%	+0.75%

Volatility

FVLKX vs. SMVTX - Volatility Comparison

The current volatility for Fidelity Value Fund Class K (FVLKX) is 4.18%, while Virtus Ceredex Mid-Cap Value Equity Fund (SMVTX) has a volatility of 5.09%. This indicates that FVLKX experiences smaller price fluctuations and is considered to be less risky than SMVTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVLKX	SMVTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	5.09%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	11.46%	11.94%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	15.30%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.03%	20.45%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.40%	20.64%	+2.76%

FVLKX vs. SMVTX - Expense Ratio Comparison

FVLKX has a 0.71% expense ratio, which is lower than SMVTX's 0.99% expense ratio.

Dividends

FVLKX vs. SMVTX - Dividend Comparison

FVLKX's dividend yield for the trailing twelve months is around 8.58%, less than SMVTX's 13.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVLKX Fidelity Value Fund Class K	8.58%	10.03%	20.95%	3.80%	7.16%	9.87%	1.06%	3.43%	16.38%	3.37%	1.36%	11.10%
SMVTX Virtus Ceredex Mid-Cap Value Equity Fund	13.52%	16.44%	15.96%	1.16%	6.75%	18.53%	2.52%	5.82%	14.47%	20.86%	3.61%	7.05%

Frequently Asked Questions

Can I hold both FVLKX and SMVTX in my portfolio?

FVLKX and SMVTX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVLKX or SMVTX?

SMVTX has higher volatility (5.09%) compared to FVLKX (4.18%). In terms of maximum drawdown, FVLKX dropped -62.82% vs SMVTX's -54.72%.

Which has better risk-adjusted returns?

SMVTX currently has the higher Sharpe Ratio (2.99 vs 2.30), 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.