FVWSX vs. FZAPX

Last updated Aug 4, 2026

FVWSX (Fidelity Series Opportunistic Insights Fund) and FZAPX (Fidelity Advisor Stock Selector All Cap Fund Class Z) are both Large Cap Growth Equities funds from Fidelity. Over the past 10 years, FVWSX returned 17.21%/yr vs 15.09%/yr for FZAPX. Their correlation of 0.93 means they have usually moved in the same direction. FVWSX charges 0.00%/yr vs 0.58%/yr for FZAPX.

Performance

FVWSX vs. FZAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Opportunistic Insights Fund (FVWSX) and Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVWSX achieves a 7.02% return, which is significantly lower than FZAPX's 15.39% return. Over the past 10 years, FVWSX has outperformed FZAPX with an annualized return of 17.21%, while FZAPX has yielded a comparatively lower 15.09% annualized return.

FVWSX

• 1D: 1.11%
• 1M: -2.71%
• 6M: 4.72%
• YTD: 7.02%
• 1Y: 16.26%
• 3Y*: 24.27%
• 5Y*: 13.61%
• 10Y*: 17.21%
• ALL TIME*: 16.83%

FZAPX

• 1D: 0.73%
• 1M: -0.06%
• 6M: 11.78%
• YTD: 15.39%
• 1Y: 29.38%
• 3Y*: 20.18%
• 5Y*: 12.25%
• 10Y*: 15.09%
• ALL TIME*: 13.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FVWSX Fidelity Series Opportunistic Insights Fund	$0.00	$0.00	$0.00
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	$0.00	$0.00	$0.00

FVWSX vs. FZAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVWSX Fidelity Series Opportunistic Insights Fund	7.02%	22.69%	36.47%	33.21%	-25.74%	24.95%	31.17%	30.57%	-2.07%	33.19%
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	15.39%	18.98%	19.88%	27.05%	-19.49%	23.25%	25.03%	32.34%	-8.52%	24.38%

Correlation

The correlation between FVWSX and FZAPX is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.93

The correlation between FVWSX and FZAPX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FVWSX vs. FZAPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FVWSX

FVWSX Risk / Return Rank: 26
FVWSX Sharpe Ratio Rank: 23
FVWSX Sortino Ratio Rank: 23
FVWSX Omega Ratio Rank: 23
FVWSX Calmar Ratio Rank: 28
FVWSX Martin Ratio Rank: 33

FZAPX

FZAPX Risk / Return Rank: 80
FZAPX Sharpe Ratio Rank: 78
FZAPX Sortino Ratio Rank: 74
FZAPX Omega Ratio Rank: 73
FZAPX Calmar Ratio Rank: 83
FZAPX Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FVWSX vs. FZAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Opportunistic Insights Fund (FVWSX) and Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX). 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.

	FVWSX	FZAPX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.90	-1.00
Sortino ratio: Return per unit of downside risk	1.33	2.59	-1.27
Omega ratio: Gain probability vs. loss probability	1.16	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	1.35	2.95	-1.59
Martin ratio: Return relative to average drawdown	5.21	13.35	-8.14

FVWSX vs. FZAPX - Sharpe Ratio Comparison

The current FVWSX Sharpe Ratio is 0.90, which is lower than the FZAPX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FVWSX and FZAPX, 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

FVWSX vs. FZAPX - Drawdown Comparison

The maximum FVWSX drawdown since its inception was -31.69%, smaller than the maximum FZAPX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FVWSX and FZAPX.

Drawdown Indicators

	FVWSX	FZAPX	Difference
Max Drawdown Largest peak-to-trough decline	-31.69%	-34.37%	+2.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-9.20%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.23%	-20.84%	+0.61%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-25.20%	-6.49%
Max Drawdown (10Y) Largest decline over 10 years	-31.69%	-34.37%	+2.68%
Current Drawdown Current decline from peak	-5.01%	-1.57%	-3.44%
Average Drawdown Average peak-to-trough decline	-5.25%	-4.52%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.03%	+0.70%

Volatility

FVWSX vs. FZAPX - Volatility Comparison

Fidelity Series Opportunistic Insights Fund (FVWSX) has a higher volatility of 4.62% compared to Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX) at 3.79%. This indicates that FVWSX's price experiences larger fluctuations and is considered to be riskier than FZAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVWSX	FZAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	3.79%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	11.41%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	14.28%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	17.91%	+1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	18.58%	+0.89%

FVWSX vs. FZAPX - Expense Ratio Comparison

FVWSX has a 0.00% expense ratio, which is lower than FZAPX's 0.58% expense ratio.

Dividends

FVWSX vs. FZAPX - Dividend Comparison

FVWSX's dividend yield for the trailing twelve months is around 15.26%, more than FZAPX's 4.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVWSX Fidelity Series Opportunistic Insights Fund	15.26%	16.24%	6.57%	1.02%	8.29%	21.40%	16.45%	9.19%	12.34%	12.74%	2.63%	7.00%
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	4.23%	4.88%	4.91%	2.12%	0.39%	1.47%	5.33%	6.18%	4.59%	3.07%	1.13%	5.24%

Frequently Asked Questions

Can I hold both FVWSX and FZAPX in my portfolio?

With a correlation of 0.95, FVWSX and FZAPX 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, FVWSX or FZAPX?

FVWSX has higher volatility (4.62%) compared to FZAPX (3.79%). In terms of maximum drawdown, FVWSX dropped -31.69% vs FZAPX's -34.37%.

Which has better risk-adjusted returns?

FZAPX currently has the higher Sharpe Ratio (1.90 vs 0.90), 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.