TRMCX vs. FSOAX

Last updated Jun 26, 2026

TRMCX (T. Rowe Price Mid-Cap Value Fund) and FSOAX (Fidelity Advisor Value Strategies Fund Class A) are both Mid Cap Value Equities funds. Over the past 10 years, TRMCX returned 11.95%/yr vs 10.24%/yr for FSOAX. Their correlation of 0.90 suggests significant overlap in exposure. TRMCX charges 0.77%/yr vs 1.13%/yr for FSOAX.

Performance

TRMCX vs. FSOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Mid-Cap Value Fund (TRMCX) and Fidelity Advisor Value Strategies Fund Class A (FSOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRMCX achieves a 17.10% return, which is significantly lower than FSOAX's 23.52% return. Over the past 10 years, TRMCX has outperformed FSOAX with an annualized return of 11.95%, while FSOAX has yielded a comparatively lower 10.24% annualized return.

TRMCX

• 1D: 0.43%
• 1M: 1.37%
• YTD: 17.10%
• 6M: 15.69%
• 1Y: 28.70%
• 3Y*: 17.99%
• 5Y*: 11.12%
• 10Y*: 11.95%

FSOAX

• 1D: 0.78%
• 1M: 2.79%
• YTD: 23.52%
• 6M: 10.24%
• 1Y: 26.41%
• 3Y*: 10.90%
• 5Y*: 6.49%
• 10Y*: 10.24%

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

TRMCX vs. FSOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRMCX T. Rowe Price Mid-Cap Value Fund	17.10%	6.16%	16.21%	18.99%	-4.16%	24.51%	9.84%	19.59%	-10.66%	11.59%
FSOAX Fidelity Advisor Value Strategies Fund Class A	23.52%	-2.17%	-3.64%	20.24%	-7.61%	32.95%	7.95%	34.16%	-17.02%	17.21%

Correlation

The correlation between TRMCX and FSOAX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 28, 1996	0.90

The correlation between TRMCX and FSOAX has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

Return for Risk

TRMCX vs. FSOAX — Risk / Return Rank

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

TRMCX

TRMCX Risk / Return Rank: 65
TRMCX Sharpe Ratio Rank: 61
TRMCX Sortino Ratio Rank: 66
TRMCX Omega Ratio Rank: 53
TRMCX Calmar Ratio Rank: 75
TRMCX Martin Ratio Rank: 68

FSOAX

FSOAX Risk / Return Rank: 35
FSOAX Sharpe Ratio Rank: 29
FSOAX Sortino Ratio Rank: 25
FSOAX Omega Ratio Rank: 32
FSOAX Calmar Ratio Rank: 45
FSOAX Martin Ratio Rank: 42

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.

TRMCX vs. FSOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Mid-Cap Value Fund (TRMCX) and Fidelity Advisor Value Strategies Fund Class A (FSOAX). 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.

	TRMCX	FSOAX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.28	+0.62
Sortino ratio: Return per unit of downside risk	2.79	1.70	+1.09
Omega ratio: Gain probability vs. loss probability	1.33	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	2.95	2.21	+0.74
Martin ratio: Return relative to average drawdown	11.15	7.69	+3.47

TRMCX vs. FSOAX - Sharpe Ratio Comparison

The current TRMCX Sharpe Ratio is 1.90, which is higher than the FSOAX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of TRMCX and FSOAX, 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

TRMCX vs. FSOAX - Drawdown Comparison

The maximum TRMCX drawdown since its inception was -55.28%, smaller than the maximum FSOAX drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for TRMCX and FSOAX.

Drawdown Indicators

	TRMCX	FSOAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-70.02%	+14.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-11.56%	+2.15%
Max Drawdown (3Y) Largest decline over 3 years	-29.60%	-35.33%	+5.73%
Max Drawdown (5Y) Largest decline over 5 years	-29.60%	-35.33%	+5.73%
Max Drawdown (10Y) Largest decline over 10 years	-39.41%	-47.99%	+8.58%
Current Drawdown Current decline from peak	-0.92%	-1.87%	+0.95%
Average Drawdown Average peak-to-trough decline	-6.63%	-9.97%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	3.31%	-0.83%

Volatility

TRMCX vs. FSOAX - Volatility Comparison

T. Rowe Price Mid-Cap Value Fund (TRMCX) and Fidelity Advisor Value Strategies Fund Class A (FSOAX) have volatilities of 4.94% and 5.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRMCX	FSOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	5.13%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	16.14%	-5.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.63%	19.99%	-5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.31%	21.28%	-1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.63%	22.28%	-2.65%

TRMCX vs. FSOAX - Expense Ratio Comparison

TRMCX has a 0.77% expense ratio, which is lower than FSOAX's 1.13% expense ratio.

Dividends

TRMCX vs. FSOAX - Dividend Comparison

TRMCX's dividend yield for the trailing twelve months is around 4.63%, while FSOAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSOAX Fidelity Advisor Value Strategies Fund Class A	0.00%	0.00%	0.00%	2.90%	2.43%	8.70%	0.82%	5.59%	17.03%	7.64%	22.64%	1.10%
TRMCX T. Rowe Price Mid-Cap Value Fund	4.63%	5.43%	14.20%	7.65%	13.92%	9.22%	3.79%	4.25%	12.13%	6.58%	6.74%	11.39%

Frequently Asked Questions

Can I hold both TRMCX and FSOAX in my portfolio?

With a correlation of 0.92, TRMCX and FSOAX 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, TRMCX or FSOAX?

FSOAX has higher volatility (5.13%) compared to TRMCX (4.94%). In terms of maximum drawdown, TRMCX dropped -55.28% vs FSOAX's -70.02%.

Which has better risk-adjusted returns?

TRMCX currently has the higher Sharpe Ratio (1.90 vs 1.28), 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.