Fund Evaluator:

Fidelity Value Overview

Fidelity Value (FDVLX) is an actively managed U.S. Equity Mid-Cap Value fund. Fidelity Investments launched the fund in 1978.

The investment seeks capital appreciation. The fund invests primarily in common stocks. It invests in securities of companies that possess valuable fixed assets or that Fidelity Management & Research Company LLC (FMR) believes are undervalued in the marketplace in relation to factors such as assets, earnings, or growth potential (stocks of these companies are often called "value" stocks). The adviser focuses investments in medium-sized companies, but also may invest substantially in larger or smaller companies. It invests in domestic and foreign issuers.

About Fidelity Value (FDVLX)

There are 1 members of the management team with an average tenure of 16.14 years: Matthew Friedman (2010). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Value TR USD index with a weighting of 100%. Fidelity Value has 179 securities in its portfolio. The top 10 holdings constitute 14.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fidelity Value is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Value has 9.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.8%. There is 9.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Value has 0.5% of the portfolio in cash.

Assets Under Management

The fund has $8 billion in total assets, which is above the $647 million average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FDVLX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Value expense ratio is above average compared to funds in the Mid-Cap Value category. Fidelity Value has an expense ratio of 0.68%, which is 34% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Value has a portfolio turnover rate of 67%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 50% for the Mid-Cap Value category.

Recently, in the month of June 2026, Fidelity Value returned 4.9%, which earned it a grade of A, as the Mid-Cap Value category had an average return of 3.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fidelity Value has a trailing yield of 1.10%, which is above the 0.90% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fidelity Value Grades

Year to date, the fund has returned 21.9%, 8.2 percentage points better than the category, which translates into a grade of A. The fund has returned 35.5% over the past year (grade of A), 19.1% over the past three years (grade of A) and 11.6% per year over the past five years (grade of A) and 12.9% per year over the past 10 years (grade of A).

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