IWV vs. FZACX
IWV (iShares Russell 3000 ETF) and FZACX (Fidelity Advisor Diversified Stock Fund Class Z) are both funds - IWV is a Large Cap Blend Equities fund tracking the Russell 3000 Index, while FZACX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, IWV returned 14.85%/yr vs 16.16%/yr for FZACX. With a 0.96 correlation, they move nearly in lockstep. IWV charges 0.20%/yr vs 0.48%/yr for FZACX.
Performance
IWV vs. FZACX - Performance Comparison
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Returns By Period
In the year-to-date period, IWV achieves a 11.36% return, which is significantly lower than FZACX's 14.19% return. Over the past 10 years, IWV has underperformed FZACX with an annualized return of 14.85%, while FZACX has yielded a comparatively higher 16.16% annualized return.
IWV
- 1D
- 0.52%
- 1M
- 4.56%
- YTD
- 11.36%
- 6M
- 11.08%
- 1Y
- 28.12%
- 3Y*
- 22.07%
- 5Y*
- 12.64%
- 10Y*
- 14.85%
FZACX
- 1D
- -0.43%
- 1M
- 4.49%
- YTD
- 14.19%
- 6M
- 13.83%
- 1Y
- 30.72%
- 3Y*
- 23.45%
- 5Y*
- 13.68%
- 10Y*
- 16.16%
IWV vs. FZACX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWV iShares Russell 3000 ETF | 11.36% | 16.96% | 23.49% | 25.82% | -19.28% | 25.54% | 20.55% | 30.66% | -5.43% | 20.97% |
FZACX Fidelity Advisor Diversified Stock Fund Class Z | 14.19% | 14.06% | 28.02% | 28.33% | -19.88% | 28.19% | 27.41% | 28.17% | -5.57% | 17.70% |
Correlation
The correlation between IWV and FZACX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013 | 0.96 |
The correlation between IWV and FZACX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
IWV vs. FZACX — Risk / Return Rank
IWV
FZACX
IWV vs. FZACX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 3000 ETF (IWV) and Fidelity Advisor Diversified Stock Fund Class Z (FZACX). 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.
| IWV | FZACX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.39 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 3.12 | +0.06 |
| Martin ratioReturn relative to average drawdown | 14.64 | 13.74 | +0.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IWV | FZACX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 2.19 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.70 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.83 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.77 | -0.32 |
Drawdowns
IWV vs. FZACX - Drawdown Comparison
The maximum IWV drawdown since its inception was -55.61%, which is greater than FZACX's maximum drawdown of -30.35%. Use the drawdown chart below to compare losses from any high point for IWV and FZACX.
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Drawdown Indicators
| IWV | FZACX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.61% | -30.35% | -25.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -9.99% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -19.28% | -26.71% | +7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -25.11% | -26.71% | +1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -35.22% | -30.35% | -4.87% |
Current DrawdownCurrent decline from peak | -0.25% | -0.43% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -10.59% | -5.07% | -5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.27% | -0.34% |
Volatility
IWV vs. FZACX - Volatility Comparison
The current volatility for iShares Russell 3000 ETF (IWV) is 2.91%, while Fidelity Advisor Diversified Stock Fund Class Z (FZACX) has a volatility of 4.24%. This indicates that IWV experiences smaller price fluctuations and is considered to be less risky than FZACX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWV | FZACX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 4.24% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 9.10% | 11.16% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.11% | 14.26% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.24% | 19.57% | -2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 19.50% | -1.10% |
IWV vs. FZACX - Expense Ratio Comparison
IWV has a 0.20% expense ratio, which is lower than FZACX's 0.48% expense ratio.
Dividends
IWV vs. FZACX - Dividend Comparison
IWV's dividend yield for the trailing twelve months is around 0.85%, less than FZACX's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZACX Fidelity Advisor Diversified Stock Fund Class Z | 5.50% | 6.28% | 13.41% | 3.39% | 8.71% | 16.27% | 5.10% | 3.12% | 13.16% | 7.44% | 1.60% | 8.32% |
IWV iShares Russell 3000 ETF | 0.85% | 0.96% | 1.08% | 1.30% | 1.56% | 1.04% | 1.30% | 1.69% | 1.97% | 1.58% | 1.79% | 1.99% |
Frequently Asked Questions
With a correlation of 0.94, IWV and FZACX 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.
FZACX has higher volatility (4.24%) compared to IWV (2.91%). In terms of maximum drawdown, IWV dropped -55.61% vs FZACX's -30.35%.
IWV currently has the higher Sharpe Ratio (2.33 vs 2.19), 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.
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