OISVX vs. FCVIX

Last updated Jul 21, 2026

OISVX (Optimum Small-Mid Cap Value Fund) and FCVIX (Fidelity Advisor Small Cap Value Fund Class I) are both Small Cap Value Equities funds. Over the past 10 years, OISVX returned 8.10%/yr vs 11.73%/yr for FCVIX. With a 0.95 correlation, they move nearly in lockstep. OISVX charges 1.18%/yr vs 0.99%/yr for FCVIX.

Performance

OISVX vs. FCVIX - Performance Comparison

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

Returns By Period

In the year-to-date period, OISVX achieves a 19.68% return, which is significantly lower than FCVIX's 27.35% return. Over the past 10 years, OISVX has underperformed FCVIX with an annualized return of 8.10%, while FCVIX has yielded a comparatively higher 11.73% annualized return.

OISVX

• 1D: -0.84%
• 1M: 2.86%
• 6M: 13.60%
• YTD: 19.68%
• 1Y: 23.79%
• 3Y*: 11.95%
• 5Y*: 7.03%
• 10Y*: 8.10%
• ALL TIME*: 8.03%

FCVIX

• 1D: -0.62%
• 1M: 3.12%
• 6M: 18.96%
• YTD: 27.35%
• 1Y: 36.62%
• 3Y*: 16.95%
• 5Y*: 11.47%
• 10Y*: 11.73%
• ALL TIME*: 11.10%

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

OISVX vs. FCVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OISVX Optimum Small-Mid Cap Value Fund	19.68%	2.64%	10.25%	10.56%	-14.06%	29.13%	2.28%	24.62%	-16.34%	9.75%
FCVIX Fidelity Advisor Small Cap Value Fund Class I	27.35%	8.02%	9.36%	17.82%	-13.07%	38.10%	11.21%	20.76%	-15.42%	12.27%

Correlation

The correlation between OISVX and FCVIX 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 Nov 4, 2004	0.95

The correlation between OISVX and FCVIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

OISVX vs. FCVIX — Risk / Return Rank

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

OISVX

OISVX Risk / Return Rank: 49
OISVX Sharpe Ratio Rank: 46
OISVX Sortino Ratio Rank: 53
OISVX Omega Ratio Rank: 43
OISVX Calmar Ratio Rank: 57
OISVX Martin Ratio Rank: 44

FCVIX

FCVIX Risk / Return Rank: 81
FCVIX Sharpe Ratio Rank: 78
FCVIX Sortino Ratio Rank: 80
FCVIX Omega Ratio Rank: 71
FCVIX Calmar Ratio Rank: 88
FCVIX 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.

OISVX vs. FCVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optimum Small-Mid Cap Value Fund (OISVX) and Fidelity Advisor Small Cap Value Fund Class I (FCVIX). 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.

	OISVX	FCVIX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.02	-0.57
Sortino ratio: Return per unit of downside risk	2.23	3.04	-0.81
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.26	3.48	-1.21
Martin ratio: Return relative to average drawdown	7.18	12.16	-4.99

OISVX vs. FCVIX - Sharpe Ratio Comparison

The current OISVX Sharpe Ratio is 1.45, which is comparable to the FCVIX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of OISVX and FCVIX, 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

OISVX vs. FCVIX - Drawdown Comparison

The maximum OISVX drawdown since its inception was -63.10%, which is greater than FCVIX's maximum drawdown of -57.61%. Use the drawdown chart below to compare losses from any high point for OISVX and FCVIX.

Drawdown Indicators

	OISVX	FCVIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.10%	-57.61%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-10.35%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-25.56%	-23.82%	-1.74%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-23.82%	-1.74%
Max Drawdown (10Y) Largest decline over 10 years	-45.99%	-44.61%	-1.38%
Current Drawdown Current decline from peak	-0.84%	-1.05%	+0.21%
Average Drawdown Average peak-to-trough decline	-9.47%	-7.93%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.95%	+0.32%

Volatility

OISVX vs. FCVIX - Volatility Comparison

The current volatility for Optimum Small-Mid Cap Value Fund (OISVX) is 3.76%, while Fidelity Advisor Small Cap Value Fund Class I (FCVIX) has a volatility of 4.38%. This indicates that OISVX experiences smaller price fluctuations and is considered to be less risky than FCVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OISVX	FCVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	4.38%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	11.80%	13.49%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	16.26%	17.87%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	20.89%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.62%	22.30%	-0.68%

OISVX vs. FCVIX - Expense Ratio Comparison

OISVX has a 1.18% expense ratio, which is higher than FCVIX's 0.99% expense ratio.

Dividends

OISVX vs. FCVIX - Dividend Comparison

OISVX's dividend yield for the trailing twelve months is around 5.52%, less than FCVIX's 7.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCVIX Fidelity Advisor Small Cap Value Fund Class I	7.93%	10.10%	6.09%	5.19%	5.92%	7.96%	0.48%	3.49%	36.40%	3.65%	7.15%	11.09%
OISVX Optimum Small-Mid Cap Value Fund	5.52%	6.61%	8.59%	1.35%	9.04%	6.37%	4.97%	2.98%	8.55%	5.35%	0.54%	4.04%

Frequently Asked Questions

Can I hold both OISVX and FCVIX in my portfolio?

With a correlation of 0.94, OISVX and FCVIX 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, OISVX or FCVIX?

FCVIX has higher volatility (4.38%) compared to OISVX (3.76%). In terms of maximum drawdown, OISVX dropped -63.10% vs FCVIX's -57.61%.

Which has better risk-adjusted returns?

FCVIX currently has the higher Sharpe Ratio (2.02 vs 1.45), 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.