SHAPX vs. FLVCX
SHAPX (ClearBridge Appreciation Fund) and FLVCX (Fidelity Leveraged Company Stock Fund) are both Large Cap Blend Equities funds. Over the past 10 years, SHAPX returned 13.35%/yr vs 16.53%/yr for FLVCX. Their correlation of 0.85 suggests significant overlap in exposure. SHAPX charges 0.93%/yr vs 0.74%/yr for FLVCX.
Performance
SHAPX vs. FLVCX - Performance Comparison
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Returns By Period
In the year-to-date period, SHAPX achieves a 4.32% return, which is significantly lower than FLVCX's 26.99% return. Over the past 10 years, SHAPX has underperformed FLVCX with an annualized return of 13.35%, while FLVCX has yielded a comparatively higher 16.53% annualized return.
SHAPX
- 1D
- -0.87%
- 1M
- -1.57%
- YTD
- 4.32%
- 6M
- 3.63%
- 1Y
- 14.62%
- 3Y*
- 16.48%
- 5Y*
- 10.98%
- 10Y*
- 13.35%
FLVCX
- 1D
- 1.44%
- 1M
- 9.26%
- YTD
- 26.99%
- 6M
- 25.31%
- 1Y
- 44.76%
- 3Y*
- 29.79%
- 5Y*
- 15.32%
- 10Y*
- 16.53%
SHAPX vs. FLVCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHAPX ClearBridge Appreciation Fund | 4.32% | 14.32% | 22.37% | 19.50% | -12.56% | 23.52% | 14.53% | 29.84% | -2.19% | 18.31% |
FLVCX Fidelity Leveraged Company Stock Fund | 26.99% | 20.34% | 26.95% | 26.10% | -22.99% | 26.08% | 26.74% | 35.60% | -16.43% | 20.92% |
Correlation
The correlation between SHAPX and FLVCX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2000 | 0.85 |
The correlation between SHAPX and FLVCX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.
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Return for Risk
SHAPX vs. FLVCX — Risk / Return Rank
SHAPX
FLVCX
SHAPX vs. FLVCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearBridge Appreciation Fund (SHAPX) and Fidelity Leveraged Company Stock Fund (FLVCX). 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.
| SHAPX | FLVCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.36 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 3.56 | -1.74 |
| Martin ratioReturn relative to average drawdown | 8.08 | 12.93 | -4.85 |
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Drawdowns
SHAPX vs. FLVCX - Drawdown Comparison
The maximum SHAPX drawdown since its inception was -46.19%, smaller than the maximum FLVCX drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for SHAPX and FLVCX.
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Drawdown Indicators
| SHAPX | FLVCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.19% | -70.02% | +23.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -13.06% | +4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -16.15% | -28.54% | +12.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.53% | -28.54% | +8.01% |
Max Drawdown (10Y)Largest decline over 10 years | -32.21% | -44.14% | +11.93% |
Current DrawdownCurrent decline from peak | -2.11% | 0.00% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -4.77% | -10.98% | +6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 3.59% | -1.63% |
Volatility
SHAPX vs. FLVCX - Volatility Comparison
The current volatility for ClearBridge Appreciation Fund (SHAPX) is 3.79%, while Fidelity Leveraged Company Stock Fund (FLVCX) has a volatility of 9.08%. This indicates that SHAPX experiences smaller price fluctuations and is considered to be less risky than FLVCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHAPX | FLVCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 9.08% | -5.29% |
Volatility (6M)Calculated over the trailing 6-month period | 8.54% | 18.05% | -9.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.95% | 22.29% | -11.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.92% | 23.07% | -8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.77% | 23.51% | -6.74% |
SHAPX vs. FLVCX - Expense Ratio Comparison
SHAPX has a 0.93% expense ratio, which is higher than FLVCX's 0.74% expense ratio.
Dividends
SHAPX vs. FLVCX - Dividend Comparison
SHAPX's dividend yield for the trailing twelve months is around 13.49%, more than FLVCX's 3.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLVCX Fidelity Leveraged Company Stock Fund | 3.72% | 4.72% | 14.53% | 12.19% | 18.49% | 8.40% | 0.11% | 0.10% | 19.91% | 18.96% | 27.48% | 6.18% |
SHAPX ClearBridge Appreciation Fund | 13.49% | 14.08% | 9.00% | 4.17% | 8.85% | 6.54% | 4.13% | 7.09% | 6.71% | 5.10% | 3.29% | 4.76% |
Frequently Asked Questions
SHAPX and FLVCX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLVCX has higher volatility (9.08%) compared to SHAPX (3.79%). In terms of maximum drawdown, SHAPX dropped -46.19% vs FLVCX's -70.02%.
FLVCX currently has the higher Sharpe Ratio (2.09 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.
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