Fund Evaluator:
Fidelity Advisor® Dividend Growth M (FGDEX)
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Best Performing in Large Blend Over the Last Year
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Fund Details
Fidelity Advisor® Dividend Growth M Overview
Fidelity Advisor® Dividend Growth M (FGDEX) is an actively managed U.S. Equity Large Blend fund. Fidelity Investments launched the fund in 2025.
The investment seeks capital appreciation. The fund invests at least 80% of assets in equity securities. It invests primarily in common stocks. The fund invests primarily in companies that currently pay or have a historical record of paying dividends. It invests in domestic and foreign issuers. The fund invests in either "growth" stocks or "value" stocks or both. It uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
About Fidelity Advisor® Dividend Growth M (FGDEX)
There are 1 members of the management team with an average tenure of 6.08 years: Zachary Turner (2020). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Morningstar US Dividend Growth TR USD index with a weighting of 100%. Fidelity Advisor® Dividend Growth M has 130 securities in its portfolio. The top 10 holdings constitute 36.3% 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 Advisor® Dividend Growth M is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Advisor® Dividend Growth M has 10.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.2%. There is 10.9% 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 Advisor® Dividend Growth M has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $484 million in total assets, which is below the $6 billion average for the Large Blend 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.
FGDEX 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 Advisor® Dividend Growth M expense ratio is high compared to funds in the Large Blend category. Fidelity Advisor® Dividend Growth M has an expense ratio of 1.41%, which is 74% higher than its category average, making the fund expense ratio grade a F. 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 Advisor® Dividend Growth M has a portfolio turnover rate of 81%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of July 2026, Fidelity Advisor® Dividend Growth M returned -0.3%, which earned it a grade of D, as the Large Blend category had an average return of 0.4%. 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 Advisor® Dividend Growth M has a trailing yield of 0.00%, which is below the 0.56% category average. The fund normally distributes its income quarterly 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 Advisor® Dividend Growth M Grades
Year to date, the fund has returned 16.3%, 7.0 percentage points better than the category, which translates into a grade of A. The fund has returned 27.4% over the past year (grade of A), 23.7% over the past three years (grade of A) and 14.8% per year over the past five years (grade of A) and 13.4% per year over the past 10 years (grade of D).
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FGDEX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FGDEX Return (NAV) | -0.3% | 4.2% | 27.4% | 23.7% | 14.8% | 13.4% |
| FGDEX Grade | D | C | A | A | A | D |
| +/- Category | -0.7% | 0.1% | 10.0% | 6.4% | 3.7% | -0.3% |
| Large Blend Avg | 0.4% | 4.1% | 17.5% | 17.3% | 11.1% | 13.7% |
| FGDEX Tax Cost Ratio | na | na | na | na | na | na |
FGDEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FGDEX Return (NAV) | 16.3% | 21.8% | 26.8% | 17.2% | -12.2% | 27.4% | 1.7% | 28.0% | -7.7% | 19.5% | 7.5% |
| FGDEX Grade | A | A | A | F | A | C | F | D | D | D | F |
| +/- Category | 7.0% | 6.0% | 4.8% | -6.5% | 5.1% | 0.8% | -15.9% | -1.8% | -1.8% | -1.8% | -2.7% |
| Large Blend Avg | 9.3% | 15.8% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.8% |
| Total Risk Index: | 1.12 - Above Average |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (78% Rank) |
| Beta: | 1.00 |
| R-Squared: | 90% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | -- |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $11891 Mil |
| Fund Total Assets: | $ 485 Mil |
| Share Class Type: | M |
| Portfolio Turnover: | 81% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 6.1 years | |||
| Average Tenure: 6.1 years | |||
| Managers (Year): Turner Zachary (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 130 |
| % in Top 10 Holdings: | 36.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 10.9% |
Portfolio Allocation |
|
| Domestic Stock: | 87.2% |
| Foreign Stock: | 10.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.9% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | August 1, 2025 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 3.50% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.50% |
Expenses and Fees | |
| Expense Ratio (%): | 1.41% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Fidelity Dividend Growth |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
