TRVLX vs. FDVLX

Last updated Jun 5, 2026

TRVLX (T. Rowe Price Value Fund) and FDVLX (Fidelity Value Fund) are both mutual funds - TRVLX is a Large Cap Value Equities fund managed by T. Rowe Price, while FDVLX is a Mid Cap Value Equities fund managed by Fidelity. Over the past 10 years, TRVLX returned 11.58%/yr vs 13.87%/yr for FDVLX. Their correlation of 0.91 suggests significant overlap in exposure. TRVLX charges 0.65%/yr vs 0.79%/yr for FDVLX.

Performance

TRVLX vs. FDVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value Fund (TRVLX) and Fidelity Value Fund (FDVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRVLX achieves a 12.04% return, which is significantly lower than FDVLX's 16.91% return. Over the past 10 years, TRVLX has underperformed FDVLX with an annualized return of 11.58%, while FDVLX has yielded a comparatively higher 13.87% annualized return.

TRVLX

• 1D: 0.00%
• 1M: 0.62%
• YTD: 12.04%
• 6M: 11.75%
• 1Y: 20.96%
• 3Y*: 17.14%
• 5Y*: 9.07%
• 10Y*: 11.58%

FDVLX

• 1D: 0.06%
• 1M: 2.22%
• YTD: 16.91%
• 6M: 17.83%
• 1Y: 35.31%
• 3Y*: 25.67%
• 5Y*: 13.85%
• 10Y*: 13.87%

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

TRVLX vs. FDVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRVLX T. Rowe Price Value Fund	12.04%	12.20%	14.98%	12.16%	-11.37%	29.86%	10.48%	26.20%	-9.44%	17.35%
FDVLX Fidelity Value Fund	16.91%	11.32%	30.11%	19.57%	-9.07%	35.30%	9.33%	31.68%	-17.58%	14.11%

Correlation

The correlation between TRVLX and FDVLX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 3, 1994	0.91

The correlation between TRVLX and FDVLX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

TRVLX vs. FDVLX — Risk / Return Rank

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

TRVLX

TRVLX Risk / Return Rank: 50
TRVLX Sharpe Ratio Rank: 44
TRVLX Sortino Ratio Rank: 45
TRVLX Omega Ratio Rank: 41
TRVLX Calmar Ratio Rank: 60
TRVLX Martin Ratio Rank: 59

FDVLX

FDVLX Risk / Return Rank: 60
FDVLX Sharpe Ratio Rank: 54
FDVLX Sortino Ratio Rank: 55
FDVLX Omega Ratio Rank: 48
FDVLX Calmar Ratio Rank: 78
FDVLX Martin Ratio Rank: 67

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.

TRVLX vs. FDVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value Fund (TRVLX) and Fidelity Value Fund (FDVLX). 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.

	TRVLX	FDVLX	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.17	-0.23
Sortino ratio: Return per unit of downside risk	2.83	3.13	-0.30
Omega ratio: Gain probability vs. loss probability	1.35	1.38	-0.03
Calmar ratio: Return relative to maximum drawdown	2.97	3.52	-0.54
Martin ratio: Return relative to average drawdown	11.70	12.94	-1.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRVLX vs. FDVLX - Sharpe Ratio Comparison

The current TRVLX Sharpe Ratio is 1.95, which is comparable to the FDVLX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of TRVLX and FDVLX, 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

	TRVLX	FDVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.17	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.52	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.55	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.57	+0.04

Drawdowns

TRVLX vs. FDVLX - Drawdown Comparison

The maximum TRVLX drawdown since its inception was -60.22%, smaller than the maximum FDVLX drawdown of -66.91%. Use the drawdown chart below to compare losses from any high point for TRVLX and FDVLX.

Drawdown Indicators

	TRVLX	FDVLX	Difference
Max Drawdown Largest peak-to-trough decline	-60.22%	-66.91%	+6.69%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-9.90%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-13.01%	-31.45%	+18.44%
Max Drawdown (5Y) Largest decline over 5 years	-20.35%	-31.45%	+11.10%
Max Drawdown (10Y) Largest decline over 10 years	-38.65%	-48.66%	+10.01%
Current Drawdown Current decline from peak	-0.63%	0.00%	-0.63%
Average Drawdown Average peak-to-trough decline	-7.51%	-9.02%	+1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	2.69%	-0.92%

Volatility

TRVLX vs. FDVLX - Volatility Comparison

The current volatility for T. Rowe Price Value Fund (TRVLX) is 2.73%, while Fidelity Value Fund (FDVLX) has a volatility of 4.00%. This indicates that TRVLX experiences smaller price fluctuations and is considered to be less risky than FDVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRVLX	FDVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	4.00%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	11.46%	-2.96%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	16.11%	-5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	26.55%	-12.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	25.18%	-7.83%

TRVLX vs. FDVLX - Expense Ratio Comparison

TRVLX has a 0.65% expense ratio, which is lower than FDVLX's 0.79% expense ratio.

Dividends

TRVLX vs. FDVLX - Dividend Comparison

TRVLX's dividend yield for the trailing twelve months is around 4.07%, less than FDVLX's 8.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVLX Fidelity Value Fund	8.60%	10.05%	33.05%	3.71%	7.08%	9.79%	0.98%	3.34%	16.25%	3.38%	1.26%	10.97%
TRVLX T. Rowe Price Value Fund	4.07%	4.56%	8.50%	2.97%	10.09%	10.92%	2.33%	1.69%	11.09%	5.89%	3.06%	8.77%

Frequently Asked Questions

Can I hold both TRVLX and FDVLX in my portfolio?

TRVLX and FDVLX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRVLX or FDVLX?

FDVLX has higher volatility (4.00%) compared to TRVLX (2.73%). In terms of maximum drawdown, TRVLX dropped -60.22% vs FDVLX's -66.91%.

Which has better risk-adjusted returns?

FDVLX currently has the higher Sharpe Ratio (2.17 vs 1.95), 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.