MKDVX vs. FDGDX

Last updated Jul 19, 2026

MKDVX (BlackRock Equity Dividend Fund Class K) and FDGDX (Fidelity Advisor 529 Dividend Growth Portfolio Class D) are both Dividend funds. Both are actively managed. Over the past 5 years, MKDVX returned 11.26%/yr vs 14.61%/yr for FDGDX. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

MKDVX vs. FDGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Equity Dividend Fund Class K (MKDVX) and Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MKDVX having a 14.91% return and FDGDX slightly higher at 15.35%.

MKDVX

• 1D: -0.67%
• 1M: 2.67%
• 6M: 11.48%
• YTD: 14.91%
• 1Y: 25.50%
• 3Y*: 15.95%
• 5Y*: 11.26%
• 10Y*: —

FDGDX

• 1D: -0.73%
• 1M: -2.37%
• 6M: 10.62%
• YTD: 15.35%
• 1Y: 27.95%
• 3Y*: 23.58%
• 5Y*: 14.61%
• 10Y*: —

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

MKDVX vs. FDGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MKDVX BlackRock Equity Dividend Fund Class K	14.91%	21.87%	7.12%	12.79%	-3.81%	20.28%	4.12%	27.74%	-7.03%	16.34%
FDGDX Fidelity Advisor 529 Dividend Growth Portfolio Class D	15.35%	21.56%	26.30%	16.72%	-12.54%	27.06%	1.32%	27.67%	-7.58%	17.77%

Correlation

The correlation between MKDVX and FDGDX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.80

Over the past year, the correlation between MKDVX and FDGDX has dropped to 0.59 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

MKDVX vs. FDGDX — Risk / Return Rank

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

MKDVX

MKDVX Risk / Return Rank: 80
MKDVX Sharpe Ratio Rank: 82
MKDVX Sortino Ratio Rank: 79
MKDVX Omega Ratio Rank: 78
MKDVX Calmar Ratio Rank: 77
MKDVX Martin Ratio Rank: 84

FDGDX

FDGDX Risk / Return Rank: 79
FDGDX Sharpe Ratio Rank: 78
FDGDX Sortino Ratio Rank: 74
FDGDX Omega Ratio Rank: 75
FDGDX Calmar Ratio Rank: 82
FDGDX Martin Ratio Rank: 87

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.

MKDVX vs. FDGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Equity Dividend Fund Class K (MKDVX) and Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX). 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.

	MKDVX	FDGDX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.08	+0.10
Sortino ratio: Return per unit of downside risk	3.07	2.83	+0.24
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	2.86	3.10	-0.24
Martin ratio: Return relative to average drawdown	12.01	12.83	-0.83

MKDVX vs. FDGDX - Sharpe Ratio Comparison

The current MKDVX Sharpe Ratio is 2.18, which is comparable to the FDGDX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of MKDVX and FDGDX, 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

MKDVX vs. FDGDX - Drawdown Comparison

The maximum MKDVX drawdown since its inception was -35.91%, smaller than the maximum FDGDX drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for MKDVX and FDGDX.

Drawdown Indicators

	MKDVX	FDGDX	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-38.44%	+2.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.97%	-10.23%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-21.70%	+6.54%
Max Drawdown (5Y) Largest decline over 5 years	-18.03%	-21.70%	+3.67%
Current Drawdown Current decline from peak	-0.67%	-2.37%	+1.70%
Average Drawdown Average peak-to-trough decline	-4.12%	-5.38%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.37%	-0.24%

Volatility

MKDVX vs. FDGDX - Volatility Comparison

The current volatility for BlackRock Equity Dividend Fund Class K (MKDVX) is 3.42%, while Fidelity Advisor 529 Dividend Growth Portfolio Class D (FDGDX) has a volatility of 4.41%. This indicates that MKDVX experiences smaller price fluctuations and is considered to be less risky than FDGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKDVX	FDGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	4.41%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	12.30%	-2.86%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	15.22%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	17.26%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	19.40%	-2.86%

Dividends

MKDVX vs. FDGDX - Dividend Comparison

MKDVX's dividend yield for the trailing twelve months is around 6.62%, while FDGDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDGDX Fidelity Advisor 529 Dividend Growth Portfolio Class D	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MKDVX BlackRock Equity Dividend Fund Class K	6.62%	10.35%	8.72%	7.21%	13.62%	12.27%	6.47%	13.26%	14.21%	14.49%

Frequently Asked Questions

Can I hold both MKDVX and FDGDX in my portfolio?

MKDVX and FDGDX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MKDVX or FDGDX?

FDGDX has higher volatility (4.41%) compared to MKDVX (3.42%). In terms of maximum drawdown, MKDVX dropped -35.91% vs FDGDX's -38.44%.

Which has better risk-adjusted returns?

MKDVX currently has the higher Sharpe Ratio (2.18 vs 2.08), 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.