VDEQX vs. FDTEX

Last updated Jun 24, 2026

VDEQX (Vanguard Diversified Equity Fund) and FDTEX (Fidelity Advisor Diversified Stock Fund Class M) are both Large Cap Growth Equities funds. Over the past 10 years, VDEQX returned 14.74%/yr vs 17.81%/yr for FDTEX. With a 0.96 correlation, they move nearly in lockstep. VDEQX charges 0.35%/yr vs 1.13%/yr for FDTEX.

Performance

VDEQX vs. FDTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Diversified Equity Fund (VDEQX) and Fidelity Advisor Diversified Stock Fund Class M (FDTEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VDEQX achieves a 5.92% return, which is significantly lower than FDTEX's 14.00% return. Over the past 10 years, VDEQX has underperformed FDTEX with an annualized return of 14.74%, while FDTEX has yielded a comparatively higher 17.81% annualized return.

VDEQX

• 1D: -0.59%
• 1M: 0.32%
• YTD: 5.92%
• 6M: 4.75%
• 1Y: 19.08%
• 3Y*: 19.35%
• 5Y*: 9.91%
• 10Y*: 14.74%

FDTEX

• 1D: -0.22%
• 1M: 2.29%
• YTD: 14.00%
• 6M: 12.67%
• 1Y: 29.29%
• 3Y*: 28.61%
• 5Y*: 16.52%
• 10Y*: 17.81%

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

VDEQX vs. FDTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VDEQX Vanguard Diversified Equity Fund	5.92%	15.26%	24.63%	27.51%	-22.59%	21.69%	29.01%	31.44%	-5.40%	21.47%
FDTEX Fidelity Advisor Diversified Stock Fund Class M	14.00%	13.31%	48.66%	27.49%	-20.43%	27.39%	26.58%	27.30%	-6.27%	17.69%

Correlation

The correlation between VDEQX and FDTEX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 10, 2005	0.96

The correlation between VDEQX and FDTEX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

VDEQX vs. FDTEX — Risk / Return Rank

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

VDEQX

VDEQX Risk / Return Rank: 31
VDEQX Sharpe Ratio Rank: 31
VDEQX Sortino Ratio Rank: 29
VDEQX Omega Ratio Rank: 30
VDEQX Calmar Ratio Rank: 28
VDEQX Martin Ratio Rank: 36

FDTEX

FDTEX Risk / Return Rank: 58
FDTEX Sharpe Ratio Rank: 53
FDTEX Sortino Ratio Rank: 46
FDTEX Omega Ratio Rank: 50
FDTEX Calmar Ratio Rank: 67
FDTEX Martin Ratio Rank: 73

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.

VDEQX vs. FDTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Diversified Equity Fund (VDEQX) and Fidelity Advisor Diversified Stock Fund Class M (FDTEX). 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.

	VDEQX	FDTEX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.99	-0.49
Sortino ratio: Return per unit of downside risk	2.08	2.65	-0.58
Omega ratio: Gain probability vs. loss probability	1.27	1.36	-0.09
Calmar ratio: Return relative to maximum drawdown	1.87	3.02	-1.16
Martin ratio: Return relative to average drawdown	7.51	12.98	-5.48

VDEQX vs. FDTEX - Sharpe Ratio Comparison

The current VDEQX Sharpe Ratio is 1.50, which is comparable to the FDTEX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of VDEQX and FDTEX, 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

VDEQX vs. FDTEX - Drawdown Comparison

The maximum VDEQX drawdown since its inception was -56.28%, smaller than the maximum FDTEX drawdown of -63.20%. Use the drawdown chart below to compare losses from any high point for VDEQX and FDTEX.

Drawdown Indicators

	VDEQX	FDTEX	Difference
Max Drawdown Largest peak-to-trough decline	-56.28%	-63.20%	+6.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.86%	-10.05%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	-20.50%	-27.44%	+6.94%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-27.44%	-1.82%
Max Drawdown (10Y) Largest decline over 10 years	-35.47%	-30.43%	-5.04%
Current Drawdown Current decline from peak	-1.93%	-0.59%	-1.34%
Average Drawdown Average peak-to-trough decline	-8.26%	-8.69%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.34%	+0.36%

Volatility

VDEQX vs. FDTEX - Volatility Comparison

The current volatility for Vanguard Diversified Equity Fund (VDEQX) is 4.90%, while Fidelity Advisor Diversified Stock Fund Class M (FDTEX) has a volatility of 6.15%. This indicates that VDEQX experiences smaller price fluctuations and is considered to be less risky than FDTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VDEQX	FDTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	6.15%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	12.30%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	15.31%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.68%	24.00%	-5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	21.83%	-2.50%

VDEQX vs. FDTEX - Expense Ratio Comparison

VDEQX has a 0.35% expense ratio, which is lower than FDTEX's 1.13% expense ratio.

Dividends

VDEQX vs. FDTEX - Dividend Comparison

VDEQX's dividend yield for the trailing twelve months is around 8.66%, more than FDTEX's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTEX Fidelity Advisor Diversified Stock Fund Class M	5.67%	6.47%	28.65%	3.15%	8.76%	17.04%	4.97%	2.62%	13.14%	7.87%	1.03%	7.93%
VDEQX Vanguard Diversified Equity Fund	8.66%	9.17%	7.53%	4.65%	12.92%	7.13%	5.82%	7.20%	6.61%	4.63%	7.67%	9.42%

Frequently Asked Questions

Can I hold both VDEQX and FDTEX in my portfolio?

With a correlation of 0.90, VDEQX and FDTEX 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, VDEQX or FDTEX?

FDTEX has higher volatility (6.15%) compared to VDEQX (4.90%). In terms of maximum drawdown, VDEQX dropped -56.28% vs FDTEX's -63.20%.

Which has better risk-adjusted returns?

FDTEX currently has the higher Sharpe Ratio (1.99 vs 1.50), 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.