SOAVX vs. FEQHX

Last updated Aug 1, 2026

SOAVX (Spirit of America Large Cap Value Fund) and FEQHX (Fidelity Hedged Equity Fund) are both Large Cap Blend Equities funds. Over the past 3 years, SOAVX returned 21.45%/yr vs 14.54%/yr for FEQHX. Their correlation of 0.94 means they have usually moved in the same direction. SOAVX charges 1.50%/yr vs 0.55%/yr for FEQHX.

Performance

SOAVX vs. FEQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spirit of America Large Cap Value Fund (SOAVX) and Fidelity Hedged Equity Fund (FEQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOAVX achieves a 10.04% return, which is significantly higher than FEQHX's 6.65% return.

SOAVX

• 1D: 2.02%
• 1M: -1.92%
• 6M: 8.09%
• YTD: 10.04%
• 1Y: 19.17%
• 3Y*: 21.45%
• 5Y*: 14.57%
• 10Y*: 14.74%
• ALL TIME*: 9.86%

FEQHX

• 1D: 1.08%
• 1M: -1.31%
• 6M: 5.59%
• YTD: 6.65%
• 1Y: 14.48%
• 3Y*: 14.54%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FEQHX Fidelity Hedged Equity Fund	$0.00	$0.00	$0.00
SOAVX Spirit of America Large Cap Value Fund	$0.00	$0.00	$0.00

SOAVX vs. FEQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SOAVX Spirit of America Large Cap Value Fund	10.04%	17.76%	33.24%	25.72%	-1.09%
FEQHX Fidelity Hedged Equity Fund	6.65%	13.61%	19.46%	17.65%	-4.85%

Correlation

The correlation between SOAVX and FEQHX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.94

The correlation between SOAVX and FEQHX has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

SOAVX vs. FEQHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SOAVX

SOAVX Risk / Return Rank: 39
SOAVX Sharpe Ratio Rank: 34
SOAVX Sortino Ratio Rank: 33
SOAVX Omega Ratio Rank: 32
SOAVX Calmar Ratio Rank: 52
SOAVX Martin Ratio Rank: 46

FEQHX

FEQHX Risk / Return Rank: 45
FEQHX Sharpe Ratio Rank: 47
FEQHX Sortino Ratio Rank: 46
FEQHX Omega Ratio Rank: 44
FEQHX Calmar Ratio Rank: 45
FEQHX Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SOAVX vs. FEQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spirit of America Large Cap Value Fund (SOAVX) and Fidelity Hedged Equity Fund (FEQHX). 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.

	SOAVX	FEQHX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.29	-0.16
Sortino ratio: Return per unit of downside risk	1.61	1.84	-0.22
Omega ratio: Gain probability vs. loss probability	1.20	1.23	-0.03
Calmar ratio: Return relative to maximum drawdown	1.96	1.74	+0.21
Martin ratio: Return relative to average drawdown	6.68	6.27	+0.41

SOAVX vs. FEQHX - Sharpe Ratio Comparison

The current SOAVX Sharpe Ratio is 1.13, which is comparable to the FEQHX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of SOAVX and FEQHX, 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

SOAVX vs. FEQHX - Drawdown Comparison

The maximum SOAVX drawdown since its inception was -47.48%, which is greater than FEQHX's maximum drawdown of -10.42%. Use the drawdown chart below to compare losses from any high point for SOAVX and FEQHX.

Drawdown Indicators

	SOAVX	FEQHX	Difference
Max Drawdown Largest peak-to-trough decline	-47.48%	-10.42%	-37.06%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-7.40%	-1.23%
Max Drawdown (3Y) Largest decline over 3 years	-20.96%	-10.42%	-10.54%
Max Drawdown (5Y) Largest decline over 5 years	-25.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.22%	—	—
Current Drawdown Current decline from peak	-4.39%	-3.05%	-1.34%
Average Drawdown Average peak-to-trough decline	-6.20%	-2.22%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.06%	+0.47%

Volatility

SOAVX vs. FEQHX - Volatility Comparison

Spirit of America Large Cap Value Fund (SOAVX) has a higher volatility of 4.35% compared to Fidelity Hedged Equity Fund (FEQHX) at 2.68%. This indicates that SOAVX's price experiences larger fluctuations and is considered to be riskier than FEQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOAVX	FEQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	2.68%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	11.65%	7.72%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	10.01%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.83%	11.28%	+6.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.49%	11.28%	+7.21%

SOAVX vs. FEQHX - Expense Ratio Comparison

SOAVX has a 1.50% expense ratio, which is higher than FEQHX's 0.55% expense ratio.

Dividends

SOAVX vs. FEQHX - Dividend Comparison

SOAVX's dividend yield for the trailing twelve months is around 8.59%, more than FEQHX's 0.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQHX Fidelity Hedged Equity Fund	0.52%	0.43%	0.61%	0.77%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOAVX Spirit of America Large Cap Value Fund	8.59%	9.29%	6.42%	5.31%	9.80%	6.68%	5.72%	6.21%	7.56%	5.56%	6.31%	3.20%

Frequently Asked Questions

Can I hold both SOAVX and FEQHX in my portfolio?

With a correlation of 0.93, SOAVX and FEQHX 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, SOAVX or FEQHX?

SOAVX has higher volatility (4.35%) compared to FEQHX (2.68%). In terms of maximum drawdown, SOAVX dropped -47.48% vs FEQHX's -10.42%.

Which has better risk-adjusted returns?

FEQHX currently has the higher Sharpe Ratio (1.29 vs 1.13), 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.