VINAX vs. FCLTX

Last updated Jun 4, 2026

VINAX (Vanguard Industrials Index Fund Admiral Shares) and FCLTX (Fidelity Advisor Industrials Fund Class M) are both Industrials Equities funds. Over the past 10 years, VINAX returned 14.08%/yr vs 13.53%/yr for FCLTX. With a 0.97 correlation, they move nearly in lockstep. VINAX charges 0.10%/yr vs 1.27%/yr for FCLTX.

Performance

VINAX vs. FCLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Industrials Index Fund Admiral Shares (VINAX) and Fidelity Advisor Industrials Fund Class M (FCLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VINAX achieves a 14.92% return, which is significantly higher than FCLTX's 13.44% return. Both investments have delivered pretty close results over the past 10 years, with VINAX having a 14.08% annualized return and FCLTX not far behind at 13.53%.

VINAX

• 1D: 1.08%
• 1M: 2.61%
• YTD: 14.92%
• 6M: 15.56%
• 1Y: 27.09%
• 3Y*: 22.64%
• 5Y*: 12.75%
• 10Y*: 14.08%

FCLTX

• 1D: 0.97%
• 1M: 1.38%
• YTD: 13.44%
• 6M: 14.53%
• 1Y: 25.72%
• 3Y*: 28.92%
• 5Y*: 15.92%
• 10Y*: 13.53%

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

VINAX vs. FCLTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VINAX Vanguard Industrials Index Fund Admiral Shares	14.92%	18.53%	16.95%	22.38%	-8.51%	20.66%	12.25%	30.16%	-13.93%	21.50%
FCLTX Fidelity Advisor Industrials Fund Class M	13.44%	24.14%	27.80%	22.34%	-10.87%	15.97%	10.89%	27.44%	-16.03%	19.25%

Correlation

The correlation between VINAX and FCLTX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 30, 2004	0.97

The correlation between VINAX and FCLTX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

VINAX vs. FCLTX — Risk / Return Rank

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

VINAX

VINAX Risk / Return Rank: 38
VINAX Sharpe Ratio Rank: 36
VINAX Sortino Ratio Rank: 36
VINAX Omega Ratio Rank: 32
VINAX Calmar Ratio Rank: 38
VINAX Martin Ratio Rank: 47

FCLTX

FCLTX Risk / Return Rank: 29
FCLTX Sharpe Ratio Rank: 27
FCLTX Sortino Ratio Rank: 28
FCLTX Omega Ratio Rank: 24
FCLTX Calmar Ratio Rank: 31
FCLTX Martin Ratio Rank: 38

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.

VINAX vs. FCLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Industrials Index Fund Admiral Shares (VINAX) and Fidelity Advisor Industrials Fund Class M (FCLTX). 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.

	VINAX	FCLTX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.49	+0.25
Sortino ratio: Return per unit of downside risk	2.49	2.20	+0.30
Omega ratio: Gain probability vs. loss probability	1.30	1.26	+0.04
Calmar ratio: Return relative to maximum drawdown	2.34	2.07	+0.26
Martin ratio: Return relative to average drawdown	9.71	8.39	+1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VINAX vs. FCLTX - Sharpe Ratio Comparison

The current VINAX Sharpe Ratio is 1.74, which is comparable to the FCLTX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of VINAX and FCLTX, 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

	VINAX	FCLTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	1.49	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.77	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.63	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.50	+0.02

Drawdowns

VINAX vs. FCLTX - Drawdown Comparison

The maximum VINAX drawdown since its inception was -63.43%, roughly equal to the maximum FCLTX drawdown of -61.07%. Use the drawdown chart below to compare losses from any high point for VINAX and FCLTX.

Drawdown Indicators

	VINAX	FCLTX	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-61.07%	-2.36%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-13.12%	+0.87%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-21.35%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-23.07%	-26.59%	+3.52%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-42.73%	+0.28%
Current Drawdown Current decline from peak	-0.94%	-2.48%	+1.54%
Average Drawdown Average peak-to-trough decline	-8.35%	-8.36%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	3.24%	-0.30%

Volatility

VINAX vs. FCLTX - Volatility Comparison

The current volatility for Vanguard Industrials Index Fund Admiral Shares (VINAX) is 5.35%, while Fidelity Advisor Industrials Fund Class M (FCLTX) has a volatility of 5.95%. This indicates that VINAX experiences smaller price fluctuations and is considered to be less risky than FCLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINAX	FCLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	5.95%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	15.09%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.48%	18.26%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	20.86%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.47%	21.50%	-1.03%

VINAX vs. FCLTX - Expense Ratio Comparison

VINAX has a 0.10% expense ratio, which is lower than FCLTX's 1.27% expense ratio.

Dividends

VINAX vs. FCLTX - Dividend Comparison

VINAX's dividend yield for the trailing twelve months is around 0.89%, less than FCLTX's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCLTX Fidelity Advisor Industrials Fund Class M	1.60%	1.82%	7.91%	8.95%	3.54%	22.27%	0.60%	7.40%	12.19%	2.81%	5.59%	9.09%
VINAX Vanguard Industrials Index Fund Admiral Shares	0.89%	1.01%	1.23%	1.36%	1.51%	1.06%	1.39%	1.68%	1.90%	1.60%	1.82%	1.94%

Frequently Asked Questions

Can I hold both VINAX and FCLTX in my portfolio?

With a correlation of 0.97, VINAX and FCLTX 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, VINAX or FCLTX?

FCLTX has higher volatility (5.95%) compared to VINAX (5.35%). In terms of maximum drawdown, VINAX dropped -63.43% vs FCLTX's -61.07%.

Which has better risk-adjusted returns?

VINAX currently has the higher Sharpe Ratio (1.74 vs 1.49), 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.