UMCVX vs. FASPX

Last updated Aug 1, 2026

UMCVX (Invesco V.I. American Value Fund) and FASPX (Fidelity Advisor Value Strategies Fund Class M) are both Mid Cap Value Equities funds. Over the past 10 years, UMCVX returned 13.28%/yr vs 11.28%/yr for FASPX. Their correlation of 0.85 means they have usually moved in the same direction. UMCVX charges 0.89%/yr vs 1.37%/yr for FASPX.

Performance

UMCVX vs. FASPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco V.I. American Value Fund (UMCVX) and Fidelity Advisor Value Strategies Fund Class M (FASPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMCVX achieves a 15.32% return, which is significantly lower than FASPX's 28.64% return. Over the past 10 years, UMCVX has outperformed FASPX with an annualized return of 13.28%, while FASPX has yielded a comparatively lower 11.28% annualized return.

UMCVX

• 1D: 2.45%
• 1M: -3.90%
• 6M: 7.78%
• YTD: 15.32%
• 1Y: 36.26%
• 3Y*: 24.58%
• 5Y*: 17.20%
• 10Y*: 13.28%
• ALL TIME*: 9.46%

FASPX

• 1D: -0.08%
• 1M: 2.03%
• 6M: 18.88%
• YTD: 28.64%
• 1Y: 43.27%
• 3Y*: 12.26%
• 5Y*: 10.01%
• 10Y*: 11.28%
• ALL TIME*: 8.66%

*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)
FASPX Fidelity Advisor Value Strategies Fund Class M	$0.00	$0.00	$0.00
UMCVX Invesco V.I. American Value Fund	$0.00	$0.00	$0.00

UMCVX vs. FASPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UMCVX Invesco V.I. American Value Fund	15.32%	21.17%	30.42%	15.70%	-2.53%	27.96%	1.15%	24.95%	-12.56%	9.97%
FASPX Fidelity Advisor Value Strategies Fund Class M	28.64%	7.76%	-2.60%	19.93%	-7.82%	32.65%	7.70%	33.85%	-17.27%	17.34%

Correlation

The correlation between UMCVX and FASPX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.85

The correlation between UMCVX and FASPX shifts across timeframes, from 0.76 (1 year) to 0.91 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

UMCVX vs. FASPX — Risk / Return Rank

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

UMCVX

UMCVX Risk / Return Rank: 72
UMCVX Sharpe Ratio Rank: 67
UMCVX Sortino Ratio Rank: 61
UMCVX Omega Ratio Rank: 61
UMCVX Calmar Ratio Rank: 89
UMCVX Martin Ratio Rank: 82

FASPX

FASPX Risk / Return Rank: 91
FASPX Sharpe Ratio Rank: 91
FASPX Sortino Ratio Rank: 89
FASPX Omega Ratio Rank: 83
FASPX Calmar Ratio Rank: 94
FASPX Martin Ratio Rank: 95

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.

UMCVX vs. FASPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco V.I. American Value Fund (UMCVX) and Fidelity Advisor Value Strategies Fund Class M (FASPX). 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.

	UMCVX	FASPX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.34	-0.70
Sortino ratio: Return per unit of downside risk	2.21	3.32	-1.11
Omega ratio: Gain probability vs. loss probability	1.28	1.40	-0.12
Calmar ratio: Return relative to maximum drawdown	3.29	4.02	-0.73
Martin ratio: Return relative to average drawdown	10.27	15.48	-5.21

UMCVX vs. FASPX - Sharpe Ratio Comparison

The current UMCVX Sharpe Ratio is 1.64, which is comparable to the FASPX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of UMCVX and FASPX, 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

UMCVX vs. FASPX - Drawdown Comparison

The maximum UMCVX drawdown since its inception was -59.30%, smaller than the maximum FASPX drawdown of -70.11%. Use the drawdown chart below to compare losses from any high point for UMCVX and FASPX.

Drawdown Indicators

	UMCVX	FASPX	Difference
Max Drawdown Largest peak-to-trough decline	-59.30%	-70.11%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-9.84%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-25.10%	-34.53%	+9.43%
Max Drawdown (5Y) Largest decline over 5 years	-25.10%	-34.53%	+9.43%
Max Drawdown (10Y) Largest decline over 10 years	-45.77%	-48.02%	+2.25%
Current Drawdown Current decline from peak	-7.96%	-0.92%	-7.04%
Average Drawdown Average peak-to-trough decline	-10.02%	-9.80%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.56%	+0.69%

Volatility

UMCVX vs. FASPX - Volatility Comparison

Invesco V.I. American Value Fund (UMCVX) has a higher volatility of 6.00% compared to Fidelity Advisor Value Strategies Fund Class M (FASPX) at 3.24%. This indicates that UMCVX's price experiences larger fluctuations and is considered to be riskier than FASPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMCVX	FASPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	3.24%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	11.73%	+4.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.42%	17.01%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.45%	20.60%	+6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.22%	21.96%	+3.26%

UMCVX vs. FASPX - Expense Ratio Comparison

UMCVX has a 0.89% expense ratio, which is lower than FASPX's 1.37% expense ratio.

Dividends

UMCVX vs. FASPX - Dividend Comparison

UMCVX's dividend yield for the trailing twelve months is around 14.53%, more than FASPX's 7.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASPX Fidelity Advisor Value Strategies Fund Class M	7.25%	9.32%	0.00%	2.40%	1.93%	7.80%	0.55%	4.98%	15.67%	7.26%	21.61%	0.80%
UMCVX Invesco V.I. American Value Fund	14.53%	16.76%	3.11%	25.58%	23.66%	0.42%	1.65%	8.19%	19.87%	1.91%	5.79%	15.77%

Frequently Asked Questions

Can I hold both UMCVX and FASPX in my portfolio?

UMCVX and FASPX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMCVX or FASPX?

UMCVX has higher volatility (6.00%) compared to FASPX (3.24%). In terms of maximum drawdown, UMCVX dropped -59.30% vs FASPX's -70.11%.

Which has better risk-adjusted returns?

FASPX currently has the higher Sharpe Ratio (2.34 vs 1.64), 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.