ANCFX vs. FXAIX

Last updated Jun 23, 2026

ANCFX (American Funds Fundamental Investors Class A) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - ANCFX is a Large Cap Blend Equities fund actively managed by American Funds, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. ANCFX is actively managed, while FXAIX is passively managed. Over the past 10 years, ANCFX returned 14.96%/yr vs 15.58%/yr for FXAIX. With a 0.97 correlation, they move nearly in lockstep. ANCFX charges 0.57%/yr vs 0.02%/yr for FXAIX.

Performance

ANCFX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Fundamental Investors Class A (ANCFX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANCFX achieves a 14.88% return, which is significantly higher than FXAIX's 10.19% return. Both investments have delivered pretty close results over the past 10 years, with ANCFX having a 14.96% annualized return and FXAIX not far ahead at 15.58%.

ANCFX

• 1D: 1.53%
• 1M: 2.47%
• YTD: 14.88%
• 6M: 15.17%
• 1Y: 33.14%
• 3Y*: 24.87%
• 5Y*: 15.09%
• 10Y*: 14.96%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

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

ANCFX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANCFX American Funds Fundamental Investors Class A	14.88%	24.21%	22.73%	25.86%	-16.66%	22.43%	14.92%	27.07%	-8.13%	22.80%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between ANCFX and FXAIX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.97

The correlation between ANCFX and FXAIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

ANCFX vs. FXAIX — Risk / Return Rank

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

ANCFX

ANCFX Risk / Return Rank: 70
ANCFX Sharpe Ratio Rank: 71
ANCFX Sortino Ratio Rank: 64
ANCFX Omega Ratio Rank: 65
ANCFX Calmar Ratio Rank: 71
ANCFX Martin Ratio Rank: 81

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

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.

ANCFX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Fundamental Investors Class A (ANCFX) and Fidelity 500 Index Fund (FXAIX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ANCFX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.17	+0.09
Sortino ratio: Return per unit of downside risk	3.04	2.93	+0.11
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	3.10	3.04	+0.06
Martin ratio: Return relative to average drawdown	13.94	13.75	+0.20

ANCFX vs. FXAIX - Sharpe Ratio Comparison

The current ANCFX Sharpe Ratio is 2.26, which is comparable to the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ANCFX and FXAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ANCFX vs. FXAIX - Drawdown Comparison

The maximum ANCFX drawdown since its inception was -53.29%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for ANCFX and FXAIX.

Drawdown Indicators

	ANCFX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.29%	-33.79%	-19.50%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-8.89%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-17.97%	-18.76%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	-25.07%	-24.50%	-0.57%
Max Drawdown (10Y) Largest decline over 10 years	-33.93%	-33.79%	-0.14%
Current Drawdown Current decline from peak	-0.22%	-1.36%	+1.14%
Average Drawdown Average peak-to-trough decline	-7.31%	-3.79%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	1.96%	+0.40%

Volatility

ANCFX vs. FXAIX - Volatility Comparison

American Funds Fundamental Investors Class A (ANCFX) has a higher volatility of 5.65% compared to Fidelity 500 Index Fund (FXAIX) at 4.77%. This indicates that ANCFX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANCFX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	4.77%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	11.79%	9.91%	+1.88%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	12.47%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	17.01%	-0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.79%	18.11%	-0.32%

ANCFX vs. FXAIX - Expense Ratio Comparison

ANCFX has a 0.57% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

ANCFX vs. FXAIX - Dividend Comparison

ANCFX's dividend yield for the trailing twelve months is around 7.26%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANCFX American Funds Fundamental Investors Class A	7.26%	8.54%	8.90%	5.80%	4.98%	10.97%	2.61%	6.91%	9.31%	7.28%	4.71%	6.08%
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both ANCFX and FXAIX in my portfolio?

With a correlation of 0.94, ANCFX and FXAIX 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, ANCFX or FXAIX?

ANCFX has higher volatility (5.65%) compared to FXAIX (4.77%). In terms of maximum drawdown, ANCFX dropped -53.29% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

ANCFX currently has the higher Sharpe Ratio (2.26 vs 2.17), 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.