FZAOX vs. HFCGX

Last updated Aug 1, 2026

FZAOX (Fidelity Advisor Small Cap Fund Class Z) and HFCGX (Hennessy Cornerstone Growth Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FZAOX returned 10.29%/yr vs 11.94%/yr for HFCGX. Their correlation of 0.85 means they have usually moved in the same direction. FZAOX charges 0.83%/yr vs 1.34%/yr for HFCGX.

Performance

FZAOX vs. HFCGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Fund Class Z (FZAOX) and Hennessy Cornerstone Growth Fund (HFCGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAOX achieves a 19.96% return, which is significantly higher than HFCGX's 12.44% return. Over the past 10 years, FZAOX has underperformed HFCGX with an annualized return of 10.29%, while HFCGX has yielded a comparatively higher 11.94% annualized return.

FZAOX

• 1D: 1.52%
• 1M: -1.74%
• 6M: 14.49%
• YTD: 19.96%
• 1Y: 33.43%
• 3Y*: 11.71%
• 5Y*: 6.56%
• 10Y*: 10.29%
• ALL TIME*: 9.68%

HFCGX

• 1D: 3.16%
• 1M: 2.88%
• 6M: 7.39%
• YTD: 12.44%
• 1Y: 20.12%
• 3Y*: 17.93%
• 5Y*: 13.94%
• 10Y*: 11.94%
• ALL TIME*: 9.51%

*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)
FZAOX Fidelity Advisor Small Cap Fund Class Z	$0.00	$0.00	$0.00
HFCGX Hennessy Cornerstone Growth Fund	$0.00	$0.00	$0.00

FZAOX vs. HFCGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAOX Fidelity Advisor Small Cap Fund Class Z	19.96%	12.25%	-0.46%	18.75%	-20.39%	31.71%	17.62%	32.92%	-16.11%	14.26%
HFCGX Hennessy Cornerstone Growth Fund	12.44%	4.78%	31.45%	19.58%	-4.97%	29.94%	17.73%	20.70%	-21.39%	16.60%

Correlation

The correlation between FZAOX and HFCGX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.85

The correlation between FZAOX and HFCGX shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FZAOX vs. HFCGX — Risk / Return Rank

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

FZAOX

FZAOX Risk / Return Rank: 73
FZAOX Sharpe Ratio Rank: 66
FZAOX Sortino Ratio Rank: 69
FZAOX Omega Ratio Rank: 57
FZAOX Calmar Ratio Rank: 88
FZAOX Martin Ratio Rank: 86

HFCGX

HFCGX Risk / Return Rank: 53
HFCGX Sharpe Ratio Rank: 48
HFCGX Sortino Ratio Rank: 51
HFCGX Omega Ratio Rank: 44
HFCGX Calmar Ratio Rank: 75
HFCGX Martin Ratio Rank: 49

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.

FZAOX vs. HFCGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class Z (FZAOX) and Hennessy Cornerstone Growth Fund (HFCGX). 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.

	FZAOX	HFCGX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.28	+0.34
Sortino ratio: Return per unit of downside risk	2.41	1.91	+0.51
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.05
Calmar ratio: Return relative to maximum drawdown	3.21	2.39	+0.82
Martin ratio: Return relative to average drawdown	11.35	6.64	+4.71

FZAOX vs. HFCGX - Sharpe Ratio Comparison

The current FZAOX Sharpe Ratio is 1.63, which is comparable to the HFCGX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of FZAOX and HFCGX, 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

FZAOX vs. HFCGX - Drawdown Comparison

The maximum FZAOX drawdown since its inception was -40.41%, smaller than the maximum HFCGX drawdown of -62.35%. Use the drawdown chart below to compare losses from any high point for FZAOX and HFCGX.

Drawdown Indicators

	FZAOX	HFCGX	Difference
Max Drawdown Largest peak-to-trough decline	-40.41%	-62.35%	+21.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.31%	-7.82%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-34.21%	-22.86%	-11.35%
Max Drawdown (5Y) Largest decline over 5 years	-34.21%	-26.30%	-7.91%
Max Drawdown (10Y) Largest decline over 10 years	-40.41%	-54.22%	+13.81%
Current Drawdown Current decline from peak	-4.32%	-4.09%	-0.23%
Average Drawdown Average peak-to-trough decline	-8.28%	-15.17%	+6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.81%	-0.17%

Volatility

FZAOX vs. HFCGX - Volatility Comparison

The current volatility for Fidelity Advisor Small Cap Fund Class Z (FZAOX) is 4.42%, while Hennessy Cornerstone Growth Fund (HFCGX) has a volatility of 6.56%. This indicates that FZAOX experiences smaller price fluctuations and is considered to be less risky than HFCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAOX	HFCGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	6.56%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	11.96%	+2.04%
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	14.57%	+3.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.07%	23.87%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	25.88%	-3.96%

FZAOX vs. HFCGX - Expense Ratio Comparison

FZAOX has a 0.83% expense ratio, which is lower than HFCGX's 1.34% expense ratio.

Dividends

FZAOX vs. HFCGX - Dividend Comparison

FZAOX's dividend yield for the trailing twelve months is around 1.34%, while HFCGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZAOX Fidelity Advisor Small Cap Fund Class Z	1.34%	1.61%	0.00%	1.16%	4.61%	9.90%	2.38%	3.53%	13.09%	12.80%	2.61%	7.78%
HFCGX Hennessy Cornerstone Growth Fund	0.00%	0.00%	14.11%	0.38%	3.58%	26.58%	0.00%	0.00%	10.47%	0.00%	0.00%	0.11%

Frequently Asked Questions

Can I hold both FZAOX and HFCGX in my portfolio?

FZAOX and HFCGX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FZAOX or HFCGX?

HFCGX has higher volatility (6.56%) compared to FZAOX (4.42%). In terms of maximum drawdown, FZAOX dropped -40.41% vs HFCGX's -62.35%.

Which has better risk-adjusted returns?

FZAOX currently has the higher Sharpe Ratio (1.63 vs 1.28), 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.