FZANX vs. FNIAX

Last updated Jun 4, 2026

FZANX (Fidelity Advisor New Insights Fund Class Z) and FNIAX (Fidelity Advisor New Insights Fund Class A) are both Large Cap Growth Equities funds from Fidelity. Over the past 10 years, FZANX returned 16.69%/yr vs 16.25%/yr for FNIAX. With a 1.00 correlation, they move nearly in lockstep. FZANX charges 0.56%/yr vs 0.93%/yr for FNIAX.

Performance

FZANX vs. FNIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor New Insights Fund Class Z (FZANX) and Fidelity Advisor New Insights Fund Class A (FNIAX). 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 FZANX having a 9.58% return and FNIAX slightly lower at 9.43%. Both investments have delivered pretty close results over the past 10 years, with FZANX having a 16.69% annualized return and FNIAX not far behind at 16.25%.

FZANX

• 1D: 0.02%
• 1M: 3.53%
• YTD: 9.58%
• 6M: 12.77%
• 1Y: 28.23%
• 3Y*: 27.53%
• 5Y*: 15.65%
• 10Y*: 16.69%

FNIAX

• 1D: 0.04%
• 1M: 3.51%
• YTD: 9.43%
• 6M: 12.58%
• 1Y: 27.79%
• 3Y*: 27.04%
• 5Y*: 15.23%
• 10Y*: 16.25%

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

FZANX vs. FNIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZANX Fidelity Advisor New Insights Fund Class Z	9.58%	21.71%	35.44%	36.45%	-26.34%	24.88%	24.07%	29.62%	-4.28%	28.59%
FNIAX Fidelity Advisor New Insights Fund Class A	9.43%	21.17%	34.94%	35.97%	-26.57%	24.40%	23.62%	29.17%	-4.67%	28.07%

Correlation

The correlation between FZANX and FNIAX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013	1.00

The correlation between FZANX and FNIAX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FZANX vs. FNIAX — Risk / Return Rank

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

FZANX

FZANX Risk / Return Rank: 50
FZANX Sharpe Ratio Rank: 48
FZANX Sortino Ratio Rank: 44
FZANX Omega Ratio Rank: 45
FZANX Calmar Ratio Rank: 53
FZANX Martin Ratio Rank: 63

FNIAX

FNIAX Risk / Return Rank: 49
FNIAX Sharpe Ratio Rank: 46
FNIAX Sortino Ratio Rank: 43
FNIAX Omega Ratio Rank: 44
FNIAX Calmar Ratio Rank: 51
FNIAX Martin Ratio Rank: 61

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.

FZANX vs. FNIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor New Insights Fund Class Z (FZANX) and Fidelity Advisor New Insights Fund Class A (FNIAX). 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.

	FZANX	FNIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.00	+0.03
Sortino ratio: Return per unit of downside risk	2.80	2.75	+0.04
Omega ratio: Gain probability vs. loss probability	1.36	1.36	+0.01
Calmar ratio: Return relative to maximum drawdown	2.78	2.73	+0.05
Martin ratio: Return relative to average drawdown	12.38	12.10	+0.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZANX vs. FNIAX - Sharpe Ratio Comparison

The current FZANX Sharpe Ratio is 2.04, which is comparable to the FNIAX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FZANX and FNIAX, 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

	FZANX	FNIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.00	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.80	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.85	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.64	+0.20

Drawdowns

FZANX vs. FNIAX - Drawdown Comparison

The maximum FZANX drawdown since its inception was -31.93%, smaller than the maximum FNIAX drawdown of -49.69%. Use the drawdown chart below to compare losses from any high point for FZANX and FNIAX.

Drawdown Indicators

	FZANX	FNIAX	Difference
Max Drawdown Largest peak-to-trough decline	-31.93%	-49.69%	+17.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.38%	-10.41%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-20.49%	-20.61%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-31.78%	-31.98%	+0.20%
Max Drawdown (10Y) Largest decline over 10 years	-31.93%	-31.98%	+0.05%
Current Drawdown Current decline from peak	-0.37%	-0.38%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.36%	-7.23%	+1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	2.34%	-0.02%

Volatility

FZANX vs. FNIAX - Volatility Comparison

Fidelity Advisor New Insights Fund Class Z (FZANX) and Fidelity Advisor New Insights Fund Class A (FNIAX) have volatilities of 3.54% and 3.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZANX	FNIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.53%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.81%	10.80%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	14.19%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	19.05%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	19.29%	0.00%

FZANX vs. FNIAX - Expense Ratio Comparison

FZANX has a 0.56% expense ratio, which is lower than FNIAX's 0.93% expense ratio.

Dividends

FZANX vs. FNIAX - Dividend Comparison

FZANX's dividend yield for the trailing twelve months is around 7.98%, less than FNIAX's 8.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNIAX Fidelity Advisor New Insights Fund Class A	8.54%	8.96%	5.85%	6.18%	17.12%	12.66%	8.14%	6.48%	13.78%	7.61%	4.99%	4.40%
FZANX Fidelity Advisor New Insights Fund Class Z	7.98%	8.39%	5.53%	6.22%	16.81%	12.15%	7.88%	6.68%	13.88%	7.86%	5.31%	4.72%

Frequently Asked Questions

Can I hold both FZANX and FNIAX in my portfolio?

With a correlation of 1.00, FZANX and FNIAX 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, FZANX or FNIAX?

FZANX has higher volatility (3.54%) compared to FNIAX (3.53%). In terms of maximum drawdown, FZANX dropped -31.93% vs FNIAX's -49.69%.

Which has better risk-adjusted returns?

FZANX currently has the higher Sharpe Ratio (2.04 vs 2.00), 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.