PCLVX vs. FALGX

Last updated Jun 4, 2026

PCLVX (PACE Large Co Value Equity Investments) and FALGX (Fidelity Advisor Large Cap Fund Class M) are both Large Cap Value Equities funds. Over the past 10 years, PCLVX returned 10.78%/yr vs 12.97%/yr for FALGX. Their correlation of 0.91 suggests significant overlap in exposure. PCLVX charges 1.07%/yr vs 1.05%/yr for FALGX.

Performance

PCLVX vs. FALGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PACE Large Co Value Equity Investments (PCLVX) and Fidelity Advisor Large Cap Fund Class M (FALGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, PCLVX has underperformed FALGX with an annualized return of 10.78%, while FALGX has yielded a comparatively higher 12.97% annualized return.

PCLVX

• 1D: 0.08%
• 1M: 3.60%
• YTD: 10.37%
• 6M: 12.07%
• 1Y: 25.17%
• 3Y*: 18.79%
• 5Y*: 11.20%
• 10Y*: 10.78%

FALGX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 11.81%
• 3Y*: 16.34%
• 5Y*: 10.59%
• 10Y*: 12.97%

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

PCLVX vs. FALGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PCLVX PACE Large Co Value Equity Investments	10.37%	20.38%	13.78%	15.37%	-5.14%	25.62%	-2.37%	23.07%	-10.66%	12.29%
FALGX Fidelity Advisor Large Cap Fund Class M	0.00%	19.09%	18.68%	22.88%	-8.40%	25.20%	8.27%	31.01%	-8.88%	16.83%

Correlation

The correlation between PCLVX and FALGX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 21, 1996	0.91

Over the past year, the correlation between PCLVX and FALGX has dropped to 0.30 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

PCLVX vs. FALGX — Risk / Return Rank

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

PCLVX

PCLVX Risk / Return Rank: 77
PCLVX Sharpe Ratio Rank: 80
PCLVX Sortino Ratio Rank: 78
PCLVX Omega Ratio Rank: 68
PCLVX Calmar Ratio Rank: 81
PCLVX Martin Ratio Rank: 76

FALGX

FALGX Risk / Return Rank: 43
FALGX Sharpe Ratio Rank: 37
FALGX Sortino Ratio Rank: 36
FALGX Omega Ratio Rank: 71
FALGX Calmar Ratio Rank: 54
FALGX Martin Ratio Rank: 18

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.

PCLVX vs. FALGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PACE Large Co Value Equity Investments (PCLVX) and Fidelity Advisor Large Cap Fund Class M (FALGX). 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.

	PCLVX	FALGX	Difference
Sharpe ratio: Return per unit of total volatility	2.63	1.77	+0.85
Sortino ratio: Return per unit of downside risk	3.74	2.49	+1.25
Omega ratio: Gain probability vs. loss probability	1.46	1.47	-0.02
Calmar ratio: Return relative to maximum drawdown	3.74	2.81	+0.93
Martin ratio: Return relative to average drawdown	14.38	4.79	+9.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PCLVX vs. FALGX - Sharpe Ratio Comparison

The current PCLVX Sharpe Ratio is 2.63, which is higher than the FALGX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of PCLVX and FALGX, 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

	PCLVX	FALGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	1.77	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.66	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.71	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.44	+0.03

Drawdowns

PCLVX vs. FALGX - Drawdown Comparison

The maximum PCLVX drawdown since its inception was -59.05%, smaller than the maximum FALGX drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for PCLVX and FALGX.

Drawdown Indicators

	PCLVX	FALGX	Difference
Max Drawdown Largest peak-to-trough decline	-59.05%	-64.07%	+5.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-5.06%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-16.54%	-21.78%	+5.24%
Max Drawdown (5Y) Largest decline over 5 years	-18.49%	-21.78%	+3.29%
Max Drawdown (10Y) Largest decline over 10 years	-42.18%	-37.58%	-4.60%
Current Drawdown Current decline from peak	0.00%	-4.20%	+4.20%
Average Drawdown Average peak-to-trough decline	-9.34%	-14.43%	+5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.80%	-0.90%

Volatility

PCLVX vs. FALGX - Volatility Comparison

PACE Large Co Value Equity Investments (PCLVX) has a higher volatility of 2.42% compared to Fidelity Advisor Large Cap Fund Class M (FALGX) at 0.00%. This indicates that PCLVX's price experiences larger fluctuations and is considered to be riskier than FALGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCLVX	FALGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	0.00%	+2.42%
Volatility (6M) Calculated over the trailing 6-month period	8.07%	4.21%	+3.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	8.06%	+2.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	16.65%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	18.67%	-0.25%

PCLVX vs. FALGX - Expense Ratio Comparison

PCLVX has a 1.07% expense ratio, which is higher than FALGX's 1.05% expense ratio.

Dividends

PCLVX vs. FALGX - Dividend Comparison

PCLVX's dividend yield for the trailing twelve months is around 12.16%, more than FALGX's 5.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FALGX Fidelity Advisor Large Cap Fund Class M	5.76%	5.76%	0.00%	3.20%	1.91%	6.44%	5.25%	8.39%	16.99%	6.42%	1.85%	2.74%
PCLVX PACE Large Co Value Equity Investments	12.16%	13.43%	10.09%	5.34%	17.37%	19.81%	1.42%	5.95%	11.80%	7.23%	2.75%	14.55%

Frequently Asked Questions

Can I hold both PCLVX and FALGX in my portfolio?

PCLVX and FALGX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCLVX or FALGX?

PCLVX has higher volatility (2.42%) compared to FALGX (0.00%). In terms of maximum drawdown, PCLVX dropped -59.05% vs FALGX's -64.07%.

Which has better risk-adjusted returns?

PCLVX currently has the higher Sharpe Ratio (2.63 vs 1.77), 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.