FZAMX vs. DNLDX

Last updated Aug 1, 2026

FZAMX (Fidelity Advisor Mid Cap II Fund Class Z) and DNLDX (BNY Mellon Active MidCap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, FZAMX returned 12.19%/yr vs 10.07%/yr for DNLDX. Their 0.95 correlation means they have historically moved very closely together. FZAMX charges 0.61%/yr vs 1.00%/yr for DNLDX.

Performance

FZAMX vs. DNLDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Mid Cap II Fund Class Z (FZAMX) and BNY Mellon Active MidCap Fund (DNLDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAMX achieves a 21.69% return, which is significantly higher than DNLDX's 15.00% return. Over the past 10 years, FZAMX has outperformed DNLDX with an annualized return of 12.19%, while DNLDX has yielded a comparatively lower 10.07% annualized return.

FZAMX

• 1D: 1.77%
• 1M: -2.80%
• 6M: 15.92%
• YTD: 21.69%
• 1Y: 34.39%
• 3Y*: 17.98%
• 5Y*: 11.32%
• 10Y*: 12.19%
• ALL TIME*: 11.23%

DNLDX

• 1D: 0.37%
• 1M: 0.66%
• 6M: 11.95%
• YTD: 15.00%
• 1Y: 21.19%
• 3Y*: 16.81%
• 5Y*: 10.45%
• 10Y*: 10.07%
• ALL TIME*: 10.44%

*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)
DNLDX BNY Mellon Active MidCap Fund	$0.00	$0.00	$0.00
FZAMX Fidelity Advisor Mid Cap II Fund Class Z	$0.00	$0.00	$0.00

FZAMX vs. DNLDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAMX Fidelity Advisor Mid Cap II Fund Class Z	21.69%	12.00%	17.39%	15.15%	-14.70%	25.40%	18.84%	23.85%	-14.85%	20.78%
DNLDX BNY Mellon Active MidCap Fund	15.00%	9.79%	22.27%	16.99%	-14.34%	26.49%	9.29%	16.82%	-14.46%	16.64%

Correlation

The correlation between FZAMX and DNLDX is 0.89, 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.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.95

The correlation between FZAMX and DNLDX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.

Return for Risk

FZAMX vs. DNLDX — Risk / Return Rank

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

FZAMX

FZAMX Risk / Return Rank: 78
FZAMX Sharpe Ratio Rank: 73
FZAMX Sortino Ratio Rank: 71
FZAMX Omega Ratio Rank: 68
FZAMX Calmar Ratio Rank: 88
FZAMX Martin Ratio Rank: 88

DNLDX

DNLDX Risk / Return Rank: 65
DNLDX Sharpe Ratio Rank: 56
DNLDX Sortino Ratio Rank: 58
DNLDX Omega Ratio Rank: 50
DNLDX Calmar Ratio Rank: 79
DNLDX Martin Ratio Rank: 80

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.

FZAMX vs. DNLDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Mid Cap II Fund Class Z (FZAMX) and BNY Mellon Active MidCap Fund (DNLDX). 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.

	FZAMX	DNLDX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.41	+0.33
Sortino ratio: Return per unit of downside risk	2.47	2.08	+0.39
Omega ratio: Gain probability vs. loss probability	1.30	1.25	+0.06
Calmar ratio: Return relative to maximum drawdown	3.24	2.61	+0.63
Martin ratio: Return relative to average drawdown	11.76	9.77	+2.00

FZAMX vs. DNLDX - Sharpe Ratio Comparison

The current FZAMX Sharpe Ratio is 1.75, which is comparable to the DNLDX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FZAMX and DNLDX, 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

FZAMX vs. DNLDX - Drawdown Comparison

The maximum FZAMX drawdown since its inception was -42.32%, smaller than the maximum DNLDX drawdown of -63.69%. Use the drawdown chart below to compare losses from any high point for FZAMX and DNLDX.

Drawdown Indicators

	FZAMX	DNLDX	Difference
Max Drawdown Largest peak-to-trough decline	-42.32%	-63.69%	+21.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	-7.29%	-2.48%
Max Drawdown (3Y) Largest decline over 3 years	-25.24%	-20.42%	-4.82%
Max Drawdown (5Y) Largest decline over 5 years	-25.24%	-23.42%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-42.32%	-42.23%	-0.09%
Current Drawdown Current decline from peak	-5.39%	-0.65%	-4.74%
Average Drawdown Average peak-to-trough decline	-6.03%	-9.60%	+3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	1.95%	+0.74%

Volatility

FZAMX vs. DNLDX - Volatility Comparison

Fidelity Advisor Mid Cap II Fund Class Z (FZAMX) has a higher volatility of 4.56% compared to BNY Mellon Active MidCap Fund (DNLDX) at 2.77%. This indicates that FZAMX's price experiences larger fluctuations and is considered to be riskier than DNLDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAMX	DNLDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	2.77%	+1.79%
Volatility (6M) Calculated over the trailing 6-month period	14.46%	10.01%	+4.45%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	13.48%	+4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.27%	18.50%	+1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.91%	19.46%	+1.45%

FZAMX vs. DNLDX - Expense Ratio Comparison

FZAMX has a 0.61% expense ratio, which is lower than DNLDX's 1.00% expense ratio.

Dividends

FZAMX vs. DNLDX - Dividend Comparison

FZAMX's dividend yield for the trailing twelve months is around 5.79%, less than DNLDX's 13.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNLDX BNY Mellon Active MidCap Fund	13.06%	14.15%	15.24%	1.69%	8.82%	17.74%	2.77%	2.65%	11.14%	11.32%	1.00%	3.12%
FZAMX Fidelity Advisor Mid Cap II Fund Class Z	5.79%	10.09%	6.93%	2.83%	5.86%	18.58%	1.41%	3.50%	10.72%	7.81%	5.00%	4.90%

Frequently Asked Questions

Can I hold both FZAMX and DNLDX in my portfolio?

FZAMX and DNLDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FZAMX or DNLDX?

FZAMX has higher volatility (4.56%) compared to DNLDX (2.77%). In terms of maximum drawdown, FZAMX dropped -42.32% vs DNLDX's -63.69%.

Which has better risk-adjusted returns?

FZAMX currently has the higher Sharpe Ratio (1.75 vs 1.41), 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.