FZALX vs. FGLGX

Last updated Jun 4, 2026

FZALX (Fidelity Advisor Mega Cap Stock Fund Class Z) and FGLGX (Fidelity Series Large Cap Stock Fund) are both Large Cap Blend Equities funds from Fidelity. Over the past 10 years, FZALX returned 16.71%/yr vs 16.45%/yr for FGLGX. With a 0.99 correlation, they move nearly in lockstep. FZALX charges 0.51%/yr vs 0.00%/yr for FGLGX.

Performance

FZALX vs. FGLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX) and Fidelity Series Large Cap Stock Fund (FGLGX). 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 FZALX having a 10.54% return and FGLGX slightly lower at 10.11%. Both investments have delivered pretty close results over the past 10 years, with FZALX having a 16.71% annualized return and FGLGX not far behind at 16.45%.

FZALX

• 1D: -0.32%
• 1M: 3.44%
• YTD: 10.54%
• 6M: 12.47%
• 1Y: 31.53%
• 3Y*: 25.73%
• 5Y*: 16.44%
• 10Y*: 16.71%

FGLGX

• 1D: -0.24%
• 1M: 3.30%
• YTD: 10.11%
• 6M: 12.09%
• 1Y: 32.08%
• 3Y*: 26.56%
• 5Y*: 16.96%
• 10Y*: 16.45%

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

FZALX vs. FGLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZALX Fidelity Advisor Mega Cap Stock Fund Class Z	10.54%	27.07%	26.13%	26.63%	-8.89%	26.44%	13.06%	31.25%	-7.31%	18.01%
FGLGX Fidelity Series Large Cap Stock Fund	10.11%	28.57%	27.45%	24.80%	-7.23%	26.53%	10.01%	32.37%	-8.95%	16.64%

Correlation

The correlation between FZALX and FGLGX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013	0.99

The correlation between FZALX and FGLGX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

FZALX vs. FGLGX — Risk / Return Rank

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

FZALX

FZALX Risk / Return Rank: 81
FZALX Sharpe Ratio Rank: 84
FZALX Sortino Ratio Rank: 78
FZALX Omega Ratio Rank: 75
FZALX Calmar Ratio Rank: 80
FZALX Martin Ratio Rank: 86

FGLGX

FGLGX Risk / Return Rank: 80
FGLGX Sharpe Ratio Rank: 84
FGLGX Sortino Ratio Rank: 78
FGLGX Omega Ratio Rank: 75
FGLGX Calmar Ratio Rank: 77
FGLGX 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.

FZALX vs. FGLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX) and Fidelity Series Large Cap Stock Fund (FGLGX). 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.

	FZALX	FGLGX	Difference
Sharpe ratio Return per unit of total volatility	2.71	2.70	+0.02
Sortino ratio Return per unit of downside risk	3.72	3.71	+0.01
Omega ratio Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio Return relative to maximum drawdown	3.61	3.50	+0.11
Martin ratio Return relative to average drawdown	16.39	16.03	+0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZALX vs. FGLGX - Sharpe Ratio Comparison

The current FZALX Sharpe Ratio is 2.71, which is comparable to the FGLGX Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of FZALX and FGLGX, 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

	FZALX	FGLGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.70	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	1.01	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.90	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.88	-0.02

Drawdowns

FZALX vs. FGLGX - Drawdown Comparison

The maximum FZALX drawdown since its inception was -35.23%, roughly equal to the maximum FGLGX drawdown of -36.42%. Use the drawdown chart below to compare losses from any high point for FZALX and FGLGX.

Drawdown Indicators

	FZALX	FGLGX	Difference
Max Drawdown Largest peak-to-trough decline	-35.23%	-36.42%	+1.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-9.43%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.49%	-18.75%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-23.25%	-21.21%	-2.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-36.42%	+1.19%
Current Drawdown Current decline from peak	-0.32%	-0.24%	-0.08%
Average Drawdown Average peak-to-trough decline	-3.78%	-3.78%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.06%	-0.08%

Volatility

FZALX vs. FGLGX - Volatility Comparison

The current volatility for Fidelity Advisor Mega Cap Stock Fund Class Z (FZALX) is 2.73%, while Fidelity Series Large Cap Stock Fund (FGLGX) has a volatility of 2.89%. This indicates that FZALX experiences smaller price fluctuations and is considered to be less risky than FGLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZALX	FGLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	2.89%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	9.34%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	12.27%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.70%	16.89%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	18.37%	-0.23%

FZALX vs. FGLGX - Expense Ratio Comparison

FZALX has a 0.51% expense ratio, which is higher than FGLGX's 0.00% expense ratio.

Dividends

FZALX vs. FGLGX - Dividend Comparison

FZALX's dividend yield for the trailing twelve months is around 3.65%, less than FGLGX's 8.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGLGX Fidelity Series Large Cap Stock Fund	8.94%	9.84%	7.99%	5.29%	6.55%	9.22%	5.36%	7.25%	12.29%	4.61%	1.69%	5.94%
FZALX Fidelity Advisor Mega Cap Stock Fund Class Z	3.65%	4.04%	2.83%	2.17%	4.51%	4.92%	8.14%	13.19%	21.94%	16.56%	2.12%	4.33%

Frequently Asked Questions

Can I hold both FZALX and FGLGX in my portfolio?

With a correlation of 0.99, FZALX and FGLGX 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, FZALX or FGLGX?

FGLGX has higher volatility (2.89%) compared to FZALX (2.73%). In terms of maximum drawdown, FZALX dropped -35.23% vs FGLGX's -36.42%.

Which has better risk-adjusted returns?

FZALX currently has the higher Sharpe Ratio (2.71 vs 2.70), 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.