FZAOX vs. SSCDX

Last updated Aug 1, 2026

FZAOX (Fidelity Advisor Small Cap Fund Class Z) and SSCDX (Sit Small Cap Dividend Growth Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FZAOX returned 10.29%/yr vs 10.51%/yr for SSCDX. Their 0.95 correlation means they have historically moved very closely together. FZAOX charges 0.83%/yr vs 1.35%/yr for SSCDX.

Performance

FZAOX vs. SSCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Fund Class Z (FZAOX) and Sit Small Cap Dividend Growth Fund (SSCDX). 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 SSCDX's 17.23% return. Both investments have delivered pretty close results over the past 10 years, with FZAOX having a 10.29% annualized return and SSCDX not far ahead at 10.51%.

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%

SSCDX

• 1D: 2.33%
• 1M: -1.47%
• 6M: 9.85%
• YTD: 17.23%
• 1Y: 27.48%
• 3Y*: 15.46%
• 5Y*: 9.08%
• 10Y*: 10.51%
• ALL TIME*: 9.65%

*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
SSCDX Sit Small Cap Dividend Growth Fund	$0.00	$0.00	$0.00

FZAOX vs. SSCDX - 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%
SSCDX Sit Small Cap Dividend Growth Fund	17.23%	12.90%	15.50%	15.50%	-17.15%	23.46%	16.21%	27.12%	-17.10%	13.69%

Correlation

The correlation between FZAOX and SSCDX is 0.93, 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.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Apr 7, 2015	0.95

The correlation between FZAOX and SSCDX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FZAOX vs. SSCDX — 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

SSCDX

SSCDX Risk / Return Rank: 68
SSCDX Sharpe Ratio Rank: 59
SSCDX Sortino Ratio Rank: 61
SSCDX Omega Ratio Rank: 53
SSCDX Calmar Ratio Rank: 86
SSCDX 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.

FZAOX vs. SSCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Fund Class Z (FZAOX) and Sit Small Cap Dividend Growth Fund (SSCDX). 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	SSCDX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.48	+0.14
Sortino ratio: Return per unit of downside risk	2.41	2.18	+0.23
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio: Return relative to maximum drawdown	3.21	3.04	+0.17
Martin ratio: Return relative to average drawdown	11.35	9.94	+1.40

FZAOX vs. SSCDX - Sharpe Ratio Comparison

The current FZAOX Sharpe Ratio is 1.63, which is comparable to the SSCDX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FZAOX and SSCDX, 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. SSCDX - Drawdown Comparison

The maximum FZAOX drawdown since its inception was -40.41%, roughly equal to the maximum SSCDX drawdown of -38.79%. Use the drawdown chart below to compare losses from any high point for FZAOX and SSCDX.

Drawdown Indicators

	FZAOX	SSCDX	Difference
Max Drawdown Largest peak-to-trough decline	-40.41%	-38.79%	-1.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.31%	-8.22%	-1.09%
Max Drawdown (3Y) Largest decline over 3 years	-34.21%	-23.99%	-10.22%
Max Drawdown (5Y) Largest decline over 5 years	-34.21%	-27.06%	-7.15%
Max Drawdown (10Y) Largest decline over 10 years	-40.41%	-38.79%	-1.62%
Current Drawdown Current decline from peak	-4.32%	-3.51%	-0.81%
Average Drawdown Average peak-to-trough decline	-8.28%	-6.93%	-1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.51%	+0.13%

Volatility

FZAOX vs. SSCDX - Volatility Comparison

Fidelity Advisor Small Cap Fund Class Z (FZAOX) and Sit Small Cap Dividend Growth Fund (SSCDX) have volatilities of 4.42% and 4.59%, 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

	FZAOX	SSCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	4.59%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	12.50%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	16.86%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.07%	20.09%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	20.72%	+1.20%

FZAOX vs. SSCDX - Expense Ratio Comparison

FZAOX has a 0.83% expense ratio, which is lower than SSCDX's 1.35% expense ratio.

Dividends

FZAOX vs. SSCDX - Dividend Comparison

FZAOX's dividend yield for the trailing twelve months is around 1.34%, less than SSCDX's 1.78% yield.

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%
SSCDX Sit Small Cap Dividend Growth Fund	1.78%	2.21%	1.79%	1.07%	4.26%	8.47%	0.77%	1.33%	2.69%	0.85%	1.16%	0.87%

Frequently Asked Questions

Can I hold both FZAOX and SSCDX in my portfolio?

With a correlation of 0.93, FZAOX and SSCDX 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, FZAOX or SSCDX?

SSCDX has higher volatility (4.59%) compared to FZAOX (4.42%). In terms of maximum drawdown, FZAOX dropped -40.41% vs SSCDX's -38.79%.

Which has better risk-adjusted returns?

FZAOX currently has the higher Sharpe Ratio (1.63 vs 1.48), 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.