WWSIX vs. FZAOX

Last updated Jun 4, 2026

WWSIX (Keeley Small Cap Fund Class Institutional) and FZAOX (Fidelity Advisor Small Cap Fund Class Z) are both Small Cap Blend Equities funds. Over the past 10 years, WWSIX returned 14.69%/yr vs 10.33%/yr for FZAOX. Their correlation of 0.92 suggests significant overlap in exposure. WWSIX charges 1.00%/yr vs 0.83%/yr for FZAOX.

Performance

WWSIX vs. FZAOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keeley Small Cap Fund Class Institutional (WWSIX) and Fidelity Advisor Small Cap Fund Class Z (FZAOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WWSIX achieves a 26.69% return, which is significantly higher than FZAOX's 18.58% return. Over the past 10 years, WWSIX has outperformed FZAOX with an annualized return of 14.69%, while FZAOX has yielded a comparatively lower 10.33% annualized return.

WWSIX

• 1D: 1.16%
• 1M: 4.17%
• YTD: 26.69%
• 6M: 27.09%
• 1Y: 60.23%
• 3Y*: 24.00%
• 5Y*: 11.84%
• 10Y*: 14.69%

FZAOX

• 1D: 1.01%
• 1M: 3.00%
• YTD: 18.58%
• 6M: 16.79%
• 1Y: 38.08%
• 3Y*: 14.71%
• 5Y*: 6.81%
• 10Y*: 10.33%

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

WWSIX vs. FZAOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WWSIX Keeley Small Cap Fund Class Institutional	26.69%	17.55%	15.79%	12.87%	-12.30%	30.04%	11.27%	28.74%	-13.49%	16.07%
FZAOX Fidelity Advisor Small Cap Fund Class Z	18.58%	12.25%	-0.46%	18.75%	-20.39%	31.71%	17.62%	32.92%	-16.11%	14.26%

Correlation

The correlation between WWSIX and FZAOX 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	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 21, 2013	0.92

The correlation between WWSIX and FZAOX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

WWSIX vs. FZAOX — Risk / Return Rank

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

WWSIX

WWSIX Risk / Return Rank: 89
WWSIX Sharpe Ratio Rank: 91
WWSIX Sortino Ratio Rank: 84
WWSIX Omega Ratio Rank: 79
WWSIX Calmar Ratio Rank: 96
WWSIX Martin Ratio Rank: 95

FZAOX

FZAOX Risk / Return Rank: 69
FZAOX Sharpe Ratio Rank: 61
FZAOX Sortino Ratio Rank: 60
FZAOX Omega Ratio Rank: 50
FZAOX Calmar Ratio Rank: 88
FZAOX Martin Ratio Rank: 86

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.

WWSIX vs. FZAOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keeley Small Cap Fund Class Institutional (WWSIX) and Fidelity Advisor Small Cap Fund Class Z (FZAOX). 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.

	WWSIX	FZAOX	Difference
Sharpe ratio: Return per unit of total volatility	3.10	2.31	+0.79
Sortino ratio: Return per unit of downside risk	4.05	3.27	+0.78
Omega ratio: Gain probability vs. loss probability	1.53	1.39	+0.14
Calmar ratio: Return relative to maximum drawdown	6.30	4.37	+1.93
Martin ratio: Return relative to average drawdown	22.98	16.45	+6.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WWSIX vs. FZAOX - Sharpe Ratio Comparison

The current WWSIX Sharpe Ratio is 3.10, which is higher than the FZAOX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of WWSIX and FZAOX, 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

	WWSIX	FZAOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.31	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.31	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.47	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.48	-0.04

Drawdowns

WWSIX vs. FZAOX - Drawdown Comparison

The maximum WWSIX drawdown since its inception was -59.71%, which is greater than FZAOX's maximum drawdown of -40.41%. Use the drawdown chart below to compare losses from any high point for WWSIX and FZAOX.

Drawdown Indicators

	WWSIX	FZAOX	Difference
Max Drawdown Largest peak-to-trough decline	-59.71%	-40.41%	-19.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.17%	-9.31%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-26.17%	-34.21%	+8.04%
Max Drawdown (5Y) Largest decline over 5 years	-26.17%	-34.21%	+8.04%
Max Drawdown (10Y) Largest decline over 10 years	-45.11%	-40.41%	-4.70%
Current Drawdown Current decline from peak	-0.34%	-0.97%	+0.63%
Average Drawdown Average peak-to-trough decline	-8.96%	-8.36%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.47%	+0.31%

Volatility

WWSIX vs. FZAOX - Volatility Comparison

The current volatility for Keeley Small Cap Fund Class Institutional (WWSIX) is 5.21%, while Fidelity Advisor Small Cap Fund Class Z (FZAOX) has a volatility of 5.56%. This indicates that WWSIX experiences smaller price fluctuations and is considered to be less risky than FZAOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WWSIX	FZAOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	5.56%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	13.05%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	20.70%	17.67%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	22.00%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.72%	21.92%	+1.80%

WWSIX vs. FZAOX - Expense Ratio Comparison

WWSIX has a 1.00% expense ratio, which is higher than FZAOX's 0.83% expense ratio.

Dividends

WWSIX vs. FZAOX - Dividend Comparison

WWSIX's dividend yield for the trailing twelve months is around 6.09%, more than FZAOX's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZAOX Fidelity Advisor Small Cap Fund Class Z	1.36%	1.61%	0.00%	1.16%	4.61%	9.90%	2.38%	3.53%	13.09%	12.80%	2.61%	7.78%
WWSIX Keeley Small Cap Fund Class Institutional	6.09%	7.72%	28.12%	3.00%	1.85%	5.58%	0.20%	4.70%	14.34%	8.83%	9.05%	18.47%

Frequently Asked Questions

Can I hold both WWSIX and FZAOX in my portfolio?

With a correlation of 0.92, WWSIX and FZAOX 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, WWSIX or FZAOX?

FZAOX has higher volatility (5.56%) compared to WWSIX (5.21%). In terms of maximum drawdown, WWSIX dropped -59.71% vs FZAOX's -40.41%.

Which has better risk-adjusted returns?

WWSIX currently has the higher Sharpe Ratio (3.10 vs 2.31), 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.