VEIRX vs. FEKFX

Last updated Jun 4, 2026

VEIRX (Vanguard Equity Income Fund Admiral Shares) and FEKFX (Fidelity Equity-Income K6 Fund) are both Large Cap Value Equities funds. Over the past 5 years, VEIRX returned 11.11%/yr vs 10.86%/yr for FEKFX. With a 0.96 correlation, they move nearly in lockstep. VEIRX charges 0.19%/yr vs 0.34%/yr for FEKFX.

Performance

VEIRX vs. FEKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Equity Income Fund Admiral Shares (VEIRX) and Fidelity Equity-Income K6 Fund (FEKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEIRX achieves a 9.73% return, which is significantly higher than FEKFX's 8.72% return.

VEIRX

• 1D: 0.79%
• 1M: 2.95%
• YTD: 9.73%
• 6M: 9.86%
• 1Y: 23.54%
• 3Y*: 17.62%
• 5Y*: 11.11%
• 10Y*: 11.95%

FEKFX

• 1D: 0.51%
• 1M: 0.98%
• YTD: 8.72%
• 6M: 9.91%
• 1Y: 22.28%
• 3Y*: 17.96%
• 5Y*: 10.86%
• 10Y*: —

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

VEIRX vs. FEKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEIRX Vanguard Equity Income Fund Admiral Shares	9.73%	17.25%	14.91%	7.76%	-0.08%	25.49%	3.08%	10.48%
FEKFX Fidelity Equity-Income K6 Fund	8.72%	19.03%	15.56%	10.81%	-4.77%	24.77%	6.83%	11.36%

Correlation

The correlation between VEIRX and FEKFX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019	0.96

The correlation between VEIRX and FEKFX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

VEIRX vs. FEKFX — Risk / Return Rank

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

VEIRX

VEIRX Risk / Return Rank: 67
VEIRX Sharpe Ratio Rank: 67
VEIRX Sortino Ratio Rank: 66
VEIRX Omega Ratio Rank: 61
VEIRX Calmar Ratio Rank: 76
VEIRX Martin Ratio Rank: 66

FEKFX

FEKFX Risk / Return Rank: 71
FEKFX Sharpe Ratio Rank: 69
FEKFX Sortino Ratio Rank: 71
FEKFX Omega Ratio Rank: 63
FEKFX Calmar Ratio Rank: 79
FEKFX Martin Ratio Rank: 76

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.

VEIRX vs. FEKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Equity Income Fund Admiral Shares (VEIRX) and Fidelity Equity-Income K6 Fund (FEKFX). 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.

	VEIRX	FEKFX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.43	-0.03
Sortino ratio: Return per unit of downside risk	3.39	3.49	-0.10
Omega ratio: Gain probability vs. loss probability	1.44	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.44	3.57	-0.13
Martin ratio: Return relative to average drawdown	12.85	14.33	-1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEIRX vs. FEKFX - Sharpe Ratio Comparison

The current VEIRX Sharpe Ratio is 2.39, which is comparable to the FEKFX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of VEIRX and FEKFX, 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

	VEIRX	FEKFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.43	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.82	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.77	-0.25

Drawdowns

VEIRX vs. FEKFX - Drawdown Comparison

The maximum VEIRX drawdown since its inception was -54.02%, which is greater than FEKFX's maximum drawdown of -33.16%. Use the drawdown chart below to compare losses from any high point for VEIRX and FEKFX.

Drawdown Indicators

	VEIRX	FEKFX	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-33.16%	-20.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-6.47%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.36%	-13.02%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-15.12%	-17.03%	+1.91%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	—	—
Current Drawdown Current decline from peak	0.00%	-0.56%	+0.56%
Average Drawdown Average peak-to-trough decline	-6.50%	-3.71%	-2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.60%	+0.31%

Volatility

VEIRX vs. FEKFX - Volatility Comparison

Vanguard Equity Income Fund Admiral Shares (VEIRX) has a higher volatility of 2.84% compared to Fidelity Equity-Income K6 Fund (FEKFX) at 2.38%. This indicates that VEIRX's price experiences larger fluctuations and is considered to be riskier than FEKFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEIRX	FEKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	2.38%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	7.65%	7.21%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	9.51%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.92%	13.35%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.31%	17.01%	-0.70%

VEIRX vs. FEKFX - Expense Ratio Comparison

VEIRX has a 0.19% expense ratio, which is lower than FEKFX's 0.34% expense ratio.

Dividends

VEIRX vs. FEKFX - Dividend Comparison

VEIRX's dividend yield for the trailing twelve months is around 10.12%, more than FEKFX's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEKFX Fidelity Equity-Income K6 Fund	2.87%	2.79%	3.26%	1.96%	1.94%	3.65%	1.84%	0.75%	0.00%	0.00%	0.00%	0.00%
VEIRX Vanguard Equity Income Fund Admiral Shares	10.12%	11.03%	9.83%	7.96%	8.79%	7.71%	2.86%	4.45%	10.98%	3.04%	3.87%	6.48%

Frequently Asked Questions

Can I hold both VEIRX and FEKFX in my portfolio?

With a correlation of 0.92, VEIRX and FEKFX 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, VEIRX or FEKFX?

VEIRX has higher volatility (2.84%) compared to FEKFX (2.38%). In terms of maximum drawdown, VEIRX dropped -54.02% vs FEKFX's -33.16%.

Which has better risk-adjusted returns?

FEKFX currently has the higher Sharpe Ratio (2.43 vs 2.39), 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.