FZAPX vs. DAFGX

Last updated Jun 4, 2026

FZAPX (Fidelity Advisor Stock Selector All Cap Fund Class Z) and DAFGX (Dunham Focused Large Cap Growth Fund) are both Large Cap Growth Equities funds. Over the past 10 years, FZAPX returned 15.45%/yr vs 13.12%/yr for DAFGX. Their correlation of 0.86 suggests significant overlap in exposure. FZAPX charges 0.58%/yr vs 1.37%/yr for DAFGX.

Performance

FZAPX vs. DAFGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX) and Dunham Focused Large Cap Growth Fund (DAFGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAPX achieves a 15.87% return, which is significantly higher than DAFGX's 3.88% return. Over the past 10 years, FZAPX has outperformed DAFGX with an annualized return of 15.45%, while DAFGX has yielded a comparatively lower 13.12% annualized return.

FZAPX

• 1D: 0.33%
• 1M: 5.89%
• YTD: 15.87%
• 6M: 16.42%
• 1Y: 37.49%
• 3Y*: 22.95%
• 5Y*: 13.25%
• 10Y*: 15.45%

DAFGX

• 1D: -1.33%
• 1M: 9.75%
• YTD: 3.88%
• 6M: 1.32%
• 1Y: 3.65%
• 3Y*: 10.59%
• 5Y*: 4.71%
• 10Y*: 13.12%

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

FZAPX vs. DAFGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	15.87%	18.98%	19.88%	27.05%	-19.49%	23.25%	25.03%	32.34%	-8.52%	24.38%
DAFGX Dunham Focused Large Cap Growth Fund	3.88%	1.72%	11.42%	54.81%	-38.96%	13.01%	49.42%	35.17%	9.80%	26.10%

Correlation

The correlation between FZAPX and DAFGX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013	0.86

The correlation between FZAPX and DAFGX has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

Return for Risk

FZAPX vs. DAFGX — Risk / Return Rank

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

FZAPX

FZAPX Risk / Return Rank: 86
FZAPX Sharpe Ratio Rank: 89
FZAPX Sortino Ratio Rank: 83
FZAPX Omega Ratio Rank: 81
FZAPX Calmar Ratio Rank: 87
FZAPX Martin Ratio Rank: 93

DAFGX

DAFGX Risk / Return Rank: 4
DAFGX Sharpe Ratio Rank: 4
DAFGX Sortino Ratio Rank: 4
DAFGX Omega Ratio Rank: 4
DAFGX Calmar Ratio Rank: 3
DAFGX Martin Ratio Rank: 3

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.

FZAPX vs. DAFGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX) and Dunham Focused Large Cap Growth Fund (DAFGX). 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.

	FZAPX	DAFGX	Difference
Sharpe ratio: Return per unit of total volatility	2.96	0.22	+2.74
Sortino ratio: Return per unit of downside risk	3.95	0.42	+3.53
Omega ratio: Gain probability vs. loss probability	1.54	1.05	+0.48
Calmar ratio: Return relative to maximum drawdown	4.18	0.15	+4.03
Martin ratio: Return relative to average drawdown	20.24	0.35	+19.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZAPX vs. DAFGX - Sharpe Ratio Comparison

The current FZAPX Sharpe Ratio is 2.96, which is higher than the DAFGX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of FZAPX and DAFGX, 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

	FZAPX	DAFGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.96	0.22	+2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.18	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.52	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.53	+0.26

Drawdowns

FZAPX vs. DAFGX - Drawdown Comparison

The maximum FZAPX drawdown since its inception was -34.37%, smaller than the maximum DAFGX drawdown of -47.69%. Use the drawdown chart below to compare losses from any high point for FZAPX and DAFGX.

Drawdown Indicators

	FZAPX	DAFGX	Difference
Max Drawdown Largest peak-to-trough decline	-34.37%	-47.69%	+13.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-27.70%	+18.50%
Max Drawdown (3Y) Largest decline over 3 years	-20.84%	-34.81%	+13.97%
Max Drawdown (5Y) Largest decline over 5 years	-25.20%	-47.69%	+22.49%
Max Drawdown (10Y) Largest decline over 10 years	-34.37%	-47.69%	+13.32%
Current Drawdown Current decline from peak	0.00%	-12.46%	+12.46%
Average Drawdown Average peak-to-trough decline	-4.56%	-9.55%	+4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	11.90%	-10.01%

Volatility

FZAPX vs. DAFGX - Volatility Comparison

The current volatility for Fidelity Advisor Stock Selector All Cap Fund Class Z (FZAPX) is 3.38%, while Dunham Focused Large Cap Growth Fund (DAFGX) has a volatility of 4.92%. This indicates that FZAPX experiences smaller price fluctuations and is considered to be less risky than DAFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAPX	DAFGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	4.92%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	14.70%	-4.69%
Volatility (1Y) Calculated over the trailing 1-year period	13.00%	18.99%	-5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.76%	26.17%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	25.40%	-6.83%

FZAPX vs. DAFGX - Expense Ratio Comparison

FZAPX has a 0.58% expense ratio, which is lower than DAFGX's 1.37% expense ratio.

Dividends

FZAPX vs. DAFGX - Dividend Comparison

FZAPX's dividend yield for the trailing twelve months is around 4.21%, less than DAFGX's 15.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAFGX Dunham Focused Large Cap Growth Fund	15.89%	16.51%	0.00%	2.40%	0.00%	8.61%	2.31%	3.33%	8.90%	0.95%	0.00%	0.58%
FZAPX Fidelity Advisor Stock Selector All Cap Fund Class Z	4.21%	4.88%	4.91%	2.12%	0.39%	1.47%	5.33%	6.18%	4.59%	3.07%	1.13%	5.24%

Frequently Asked Questions

Can I hold both FZAPX and DAFGX in my portfolio?

FZAPX and DAFGX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FZAPX or DAFGX?

DAFGX has higher volatility (4.92%) compared to FZAPX (3.38%). In terms of maximum drawdown, FZAPX dropped -34.37% vs DAFGX's -47.69%.

Which has better risk-adjusted returns?

FZAPX currently has the higher Sharpe Ratio (2.96 vs 0.22), 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.