KSMIX vs. FASOX

Last updated Jun 4, 2026

KSMIX (Keeley Small-Mid Cap Value Fund) and FASOX (Fidelity Advisor Value Strategies Fund Class I) are both Mid Cap Value Equities funds. Over the past 10 years, KSMIX returned 10.63%/yr vs 11.04%/yr for FASOX. Their correlation of 0.95 suggests significant overlap in exposure. KSMIX charges 1.18%/yr vs 0.88%/yr for FASOX.

Performance

KSMIX vs. FASOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keeley Small-Mid Cap Value Fund (KSMIX) and Fidelity Advisor Value Strategies Fund Class I (FASOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KSMIX achieves a 13.44% return, which is significantly lower than FASOX's 21.02% return. Both investments have delivered pretty close results over the past 10 years, with KSMIX having a 10.63% annualized return and FASOX not far ahead at 11.04%.

KSMIX

• 1D: 1.08%
• 1M: 0.29%
• YTD: 13.44%
• 6M: 11.83%
• 1Y: 24.90%
• 3Y*: 17.75%
• 5Y*: 8.23%
• 10Y*: 10.63%

FASOX

• 1D: 0.34%
• 1M: 3.49%
• YTD: 21.02%
• 6M: 22.63%
• 1Y: 40.30%
• 3Y*: 14.53%
• 5Y*: 8.37%
• 10Y*: 11.04%

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

KSMIX vs. FASOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KSMIX Keeley Small-Mid Cap Value Fund	13.44%	9.86%	14.18%	19.43%	-12.85%	26.28%	0.79%	31.89%	-17.49%	18.26%
FASOX Fidelity Advisor Value Strategies Fund Class I	21.02%	8.28%	-2.00%	20.51%	-7.38%	33.31%	8.21%	34.49%	-16.90%	17.40%

Correlation

The correlation between KSMIX and FASOX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 17, 2007	0.95

The correlation between KSMIX and FASOX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

KSMIX vs. FASOX — Risk / Return Rank

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

KSMIX

KSMIX Risk / Return Rank: 42
KSMIX Sharpe Ratio Rank: 35
KSMIX Sortino Ratio Rank: 36
KSMIX Omega Ratio Rank: 33
KSMIX Calmar Ratio Rank: 55
KSMIX Martin Ratio Rank: 51

FASOX

FASOX Risk / Return Rank: 76
FASOX Sharpe Ratio Rank: 76
FASOX Sortino Ratio Rank: 73
FASOX Omega Ratio Rank: 59
FASOX Calmar Ratio Rank: 88
FASOX Martin Ratio Rank: 85

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.

KSMIX vs. FASOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keeley Small-Mid Cap Value Fund (KSMIX) and Fidelity Advisor Value Strategies Fund Class I (FASOX). 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.

	KSMIX	FASOX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.53	-0.81
Sortino ratio: Return per unit of downside risk	2.52	3.57	-1.05
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	2.84	4.39	-1.55
Martin ratio: Return relative to average drawdown	10.52	16.23	-5.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KSMIX vs. FASOX - Sharpe Ratio Comparison

The current KSMIX Sharpe Ratio is 1.72, which is lower than the FASOX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of KSMIX and FASOX, 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

	KSMIX	FASOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	2.53	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.41	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.50	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.42	-0.08

Drawdowns

KSMIX vs. FASOX - Drawdown Comparison

The maximum KSMIX drawdown since its inception was -67.52%, roughly equal to the maximum FASOX drawdown of -69.86%. Use the drawdown chart below to compare losses from any high point for KSMIX and FASOX.

Drawdown Indicators

	KSMIX	FASOX	Difference
Max Drawdown Largest peak-to-trough decline	-67.52%	-69.86%	+2.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-9.79%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-29.45%	-34.34%	+4.89%
Max Drawdown (5Y) Largest decline over 5 years	-29.45%	-34.34%	+4.89%
Max Drawdown (10Y) Largest decline over 10 years	-52.10%	-47.97%	-4.13%
Current Drawdown Current decline from peak	-1.44%	0.00%	-1.44%
Average Drawdown Average peak-to-trough decline	-11.05%	-9.71%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.64%	-0.08%

Volatility

KSMIX vs. FASOX - Volatility Comparison

Keeley Small-Mid Cap Value Fund (KSMIX) and Fidelity Advisor Value Strategies Fund Class I (FASOX) have volatilities of 4.27% and 4.26%, 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

	KSMIX	FASOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	4.26%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.94%	11.92%	-0.98%
Volatility (1Y) Calculated over the trailing 1-year period	15.67%	17.00%	-1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.72%	20.66%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	22.00%	+2.05%

KSMIX vs. FASOX - Expense Ratio Comparison

KSMIX has a 1.18% expense ratio, which is higher than FASOX's 0.88% expense ratio.

Dividends

KSMIX vs. FASOX - Dividend Comparison

KSMIX's dividend yield for the trailing twelve months is around 8.94%, more than FASOX's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASOX Fidelity Advisor Value Strategies Fund Class I	7.46%	9.03%	0.00%	2.74%	2.34%	7.97%	0.91%	5.21%	15.65%	7.00%	20.89%	1.24%
KSMIX Keeley Small-Mid Cap Value Fund	8.94%	10.14%	14.14%	9.24%	15.42%	28.48%	5.46%	18.92%	14.34%	11.18%	8.70%	4.14%

Frequently Asked Questions

Can I hold both KSMIX and FASOX in my portfolio?

With a correlation of 0.91, KSMIX and FASOX 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, KSMIX or FASOX?

KSMIX has higher volatility (4.27%) compared to FASOX (4.26%). In terms of maximum drawdown, KSMIX dropped -67.52% vs FASOX's -69.86%.

Which has better risk-adjusted returns?

FASOX currently has the higher Sharpe Ratio (2.53 vs 1.72), 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.