FWAFX vs. UCEQX

Last updated Aug 4, 2026

FWAFX (Fidelity Advisor Worldwide Fund Class A) and UCEQX (USAA Cornerstone Equity Fund) are both Global Equities funds. Over the past 10 years, FWAFX returned 14.16%/yr vs 11.39%/yr for UCEQX. Their correlation of 0.91 means they have usually moved in the same direction. FWAFX charges 1.29%/yr vs 0.09%/yr for UCEQX.

Performance

FWAFX vs. UCEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Worldwide Fund Class A (FWAFX) and USAA Cornerstone Equity Fund (UCEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FWAFX having a 15.15% return and UCEQX slightly lower at 14.40%. Over the past 10 years, FWAFX has outperformed UCEQX with an annualized return of 14.16%, while UCEQX has yielded a comparatively lower 11.39% annualized return.

FWAFX

• 1D: 0.62%
• 1M: -3.52%
• 6M: 10.18%
• YTD: 15.15%
• 1Y: 24.95%
• 3Y*: 20.74%
• 5Y*: 10.55%
• 10Y*: 14.16%
• ALL TIME*: 13.89%

UCEQX

• 1D: 0.21%
• 1M: 0.99%
• 6M: 10.27%
• YTD: 14.40%
• 1Y: 27.50%
• 3Y*: 19.34%
• 5Y*: 11.07%
• 10Y*: 11.39%
• ALL TIME*: 10.60%

*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)
FWAFX Fidelity Advisor Worldwide Fund Class A	$0.00	$0.00	$0.00
UCEQX USAA Cornerstone Equity Fund	$0.00	$0.00	$0.00

FWAFX vs. UCEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FWAFX Fidelity Advisor Worldwide Fund Class A	15.15%	15.83%	27.27%	24.62%	-25.96%	18.13%	30.57%	28.58%	-4.80%	29.15%
UCEQX USAA Cornerstone Equity Fund	14.40%	23.71%	14.50%	19.36%	-16.25%	19.68%	10.76%	22.49%	-12.06%	22.59%

Correlation

The correlation between FWAFX and UCEQX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Jun 13, 2012	0.91

The correlation between FWAFX and UCEQX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

FWAFX vs. UCEQX — Risk / Return Rank

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

FWAFX

FWAFX Risk / Return Rank: 37
FWAFX Sharpe Ratio Rank: 32
FWAFX Sortino Ratio Rank: 31
FWAFX Omega Ratio Rank: 32
FWAFX Calmar Ratio Rank: 45
FWAFX Martin Ratio Rank: 45

UCEQX

UCEQX Risk / Return Rank: 82
UCEQX Sharpe Ratio Rank: 81
UCEQX Sortino Ratio Rank: 78
UCEQX Omega Ratio Rank: 77
UCEQX Calmar Ratio Rank: 84
UCEQX Martin Ratio Rank: 90

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.

FWAFX vs. UCEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Worldwide Fund Class A (FWAFX) and USAA Cornerstone Equity Fund (UCEQX). 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.

	FWAFX	UCEQX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.98	-0.85
Sortino ratio: Return per unit of downside risk	1.63	2.74	-1.10
Omega ratio: Gain probability vs. loss probability	1.21	1.36	-0.15
Calmar ratio: Return relative to maximum drawdown	1.91	2.94	-1.03
Martin ratio: Return relative to average drawdown	6.88	12.65	-5.78

FWAFX vs. UCEQX - Sharpe Ratio Comparison

The current FWAFX Sharpe Ratio is 1.13, which is lower than the UCEQX Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of FWAFX and UCEQX, 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

FWAFX vs. UCEQX - Drawdown Comparison

The maximum FWAFX drawdown since its inception was -33.90%, roughly equal to the maximum UCEQX drawdown of -35.33%. Use the drawdown chart below to compare losses from any high point for FWAFX and UCEQX.

Drawdown Indicators

	FWAFX	UCEQX	Difference
Max Drawdown Largest peak-to-trough decline	-33.90%	-35.33%	+1.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-8.96%	-2.81%
Max Drawdown (3Y) Largest decline over 3 years	-22.67%	-15.64%	-7.03%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	-25.24%	-8.66%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	-35.33%	+1.43%
Current Drawdown Current decline from peak	-7.14%	-0.21%	-6.93%
Average Drawdown Average peak-to-trough decline	-6.17%	-4.83%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.08%	+1.18%

Volatility

FWAFX vs. UCEQX - Volatility Comparison

Fidelity Advisor Worldwide Fund Class A (FWAFX) has a higher volatility of 5.53% compared to USAA Cornerstone Equity Fund (UCEQX) at 3.35%. This indicates that FWAFX's price experiences larger fluctuations and is considered to be riskier than UCEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWAFX	UCEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	3.35%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	16.48%	11.02%	+5.46%
Volatility (1Y) Calculated over the trailing 1-year period	19.80%	13.31%	+6.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.36%	15.38%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	16.46%	+2.48%

FWAFX vs. UCEQX - Expense Ratio Comparison

FWAFX has a 1.29% expense ratio, which is higher than UCEQX's 0.09% expense ratio.

Dividends

FWAFX vs. UCEQX - Dividend Comparison

FWAFX's dividend yield for the trailing twelve months is around 10.05%, more than UCEQX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FWAFX Fidelity Advisor Worldwide Fund Class A	10.05%	11.57%	14.70%	0.66%	6.00%	12.73%	8.01%	4.71%	9.43%	6.66%	0.88%	3.72%
UCEQX USAA Cornerstone Equity Fund	4.44%	5.08%	2.56%	5.10%	6.80%	4.61%	8.25%	4.79%	6.73%	1.91%	3.16%	3.63%

Frequently Asked Questions

Can I hold both FWAFX and UCEQX in my portfolio?

With a correlation of 0.90, FWAFX and UCEQX 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, FWAFX or UCEQX?

FWAFX has higher volatility (5.53%) compared to UCEQX (3.35%). In terms of maximum drawdown, FWAFX dropped -33.90% vs UCEQX's -35.33%.

Which has better risk-adjusted returns?

UCEQX currently has the higher Sharpe Ratio (1.98 vs 1.13), 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.