FZAFX vs. ADX

Last updated Jun 24, 2026

FZAFX (Fidelity Advisor Equity Growth Fund Class Z) and ADX (Adams Diversified Equity Fund, Inc.) are both mutual funds - FZAFX is a Large Cap Growth Equities fund managed by Fidelity, while ADX is a Large Cap Blend Equities fund actively managed by Adams Funds. Over the past 10 years, FZAFX returned 18.45%/yr vs 18.44%/yr for ADX. Their correlation of 0.84 suggests significant overlap in exposure. FZAFX charges 0.60%/yr vs 0.59%/yr for ADX.

Performance

FZAFX vs. ADX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Equity Growth Fund Class Z (FZAFX) and Adams Diversified Equity Fund, Inc. (ADX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAFX achieves a 12.14% return, which is significantly higher than ADX's 11.06% return. Both investments have delivered pretty close results over the past 10 years, with FZAFX having a 18.45% annualized return and ADX not far behind at 18.44%.

FZAFX

• 1D: -0.78%
• 1M: 0.40%
• YTD: 12.14%
• 6M: 10.90%
• 1Y: 26.05%
• 3Y*: 19.50%
• 5Y*: 11.32%
• 10Y*: 18.45%

ADX

• 1D: -0.44%
• 1M: -0.52%
• YTD: 11.06%
• 6M: 11.92%
• 1Y: 28.91%
• 3Y*: 27.63%
• 5Y*: 16.53%
• 10Y*: 18.44%

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

FZAFX vs. ADX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAFX Fidelity Advisor Equity Growth Fund Class Z	12.14%	14.68%	18.15%	35.80%	-24.36%	23.09%	43.86%	35.68%	0.36%	35.37%
ADX Adams Diversified Equity Fund, Inc.	11.06%	26.03%	28.31%	31.49%	-19.82%	29.69%	17.28%	36.75%	-3.58%	29.61%

Correlation

The correlation between FZAFX and ADX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.84

The correlation between FZAFX and ADX shifts across timeframes, from 0.74 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FZAFX vs. ADX — Risk / Return Rank

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

FZAFX

FZAFX Risk / Return Rank: 34
FZAFX Sharpe Ratio Rank: 34
FZAFX Sortino Ratio Rank: 30
FZAFX Omega Ratio Rank: 32
FZAFX Calmar Ratio Rank: 36
FZAFX Martin Ratio Rank: 39

ADX

ADX Risk / Return Rank: 61
ADX Sharpe Ratio Rank: 55
ADX Sortino Ratio Rank: 56
ADX Omega Ratio Rank: 48
ADX Calmar Ratio Rank: 61
ADX Martin Ratio Rank: 84

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.

FZAFX vs. ADX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Equity Growth Fund Class Z (FZAFX) and Adams Diversified Equity Fund, Inc. (ADX). 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.

	FZAFX	ADX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.02	-0.46
Sortino ratio: Return per unit of downside risk	2.12	2.89	-0.77
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.07
Calmar ratio: Return relative to maximum drawdown	2.17	2.86	-0.69
Martin ratio: Return relative to average drawdown	8.01	14.47	-6.46

FZAFX vs. ADX - Sharpe Ratio Comparison

The current FZAFX Sharpe Ratio is 1.56, which is comparable to the ADX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FZAFX and ADX, 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

FZAFX vs. ADX - Drawdown Comparison

The maximum FZAFX drawdown since its inception was -31.13%, smaller than the maximum ADX drawdown of -71.60%. Use the drawdown chart below to compare losses from any high point for FZAFX and ADX.

Drawdown Indicators

	FZAFX	ADX	Difference
Max Drawdown Largest peak-to-trough decline	-31.13%	-71.60%	+40.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-10.16%	-2.39%
Max Drawdown (3Y) Largest decline over 3 years	-29.19%	-18.29%	-10.90%
Max Drawdown (5Y) Largest decline over 5 years	-29.73%	-25.07%	-4.66%
Max Drawdown (10Y) Largest decline over 10 years	-31.13%	-37.17%	+6.04%
Current Drawdown Current decline from peak	-2.94%	-2.85%	-0.09%
Average Drawdown Average peak-to-trough decline	-5.77%	-22.11%	+16.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.00%	+1.39%

Volatility

FZAFX vs. ADX - Volatility Comparison

Fidelity Advisor Equity Growth Fund Class Z (FZAFX) has a higher volatility of 7.05% compared to Adams Diversified Equity Fund, Inc. (ADX) at 4.84%. This indicates that FZAFX's price experiences larger fluctuations and is considered to be riskier than ADX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAFX	ADX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	4.84%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	14.02%	11.12%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	17.49%	14.43%	+3.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.81%	17.40%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.86%	18.05%	+2.81%

FZAFX vs. ADX - Expense Ratio Comparison

FZAFX has a 0.60% expense ratio, which is higher than ADX's 0.59% expense ratio.

Dividends

FZAFX vs. ADX - Dividend Comparison

FZAFX's dividend yield for the trailing twelve months is around 0.46%, less than ADX's 7.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADX Adams Diversified Equity Fund, Inc.	7.51%	7.93%	12.38%	7.34%	7.36%	15.35%	6.54%	9.00%	15.85%	9.18%	7.79%	7.17%
FZAFX Fidelity Advisor Equity Growth Fund Class Z	0.46%	0.51%	0.00%	0.48%	1.93%	11.39%	10.84%	9.53%	6.38%	11.66%	5.87%	0.00%

Frequently Asked Questions

Can I hold both FZAFX and ADX in my portfolio?

FZAFX and ADX 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.

Which is riskier, FZAFX or ADX?

FZAFX has higher volatility (7.05%) compared to ADX (4.84%). In terms of maximum drawdown, FZAFX dropped -31.13% vs ADX's -71.60%.

Which has better risk-adjusted returns?

ADX currently has the higher Sharpe Ratio (2.02 vs 1.56), 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.